Season 8: From GATT to WTOWith Intellectual property gaining speed with innovations and services becoming a new area of business, GATT fell short as it covered only trade in goods. Also, some Governments used unscrupulous methods to beat the GATT system. This lead to the formation of WTO. This podcast focuses on the transition from…

Season 8: Advent of GATTWhile the World Bank & UN came into existence as International Organizations, the need was felt to create an International Trade Organization. Hectic parleys started, and it led to the creation of the General Agreement on Tariffs & Trade. In this podcast, we discuss the creation of GATT.AtyaasaaOnline is an E-learning…

Season 8: The World Bank GroupPost the Brettenwood Conference, we saw the International Monetary Fund's formation & the International Bank of Reconstruction & Development.  After this, the World Bank Group of International Organizations came into existence which comprised: International Bank for Reconstruction & Development (IBRD) International Development Association (IDA) International Finance Corporation (IFC) Multilateral Investment…

Season 8: Bretton Woods TwinsThe end of World War II was a defining moment in the economic history of International Trade.  It led to a decision of reconstruction of the economy through cooperation. The Bretton Woods Convention created the twins International Monetary Fund & International Bank of Reconstruction and Development as a part of the…

Season 8: The Inter-War PeriodBetween the two great wars, it was a period of economic turbulence and devastation and also technological advancement.  It also witnessed the great depression and colonial turbulence. World War II was the next key occurrence in the history of economics. The interwar period witnessed great turbulence.    AtyaasaaOnline is an E-learning…

Season 8: The Pre-World War I EraColonization and Mercantilism were the norms. The economy and technology were on a high. Geo-Political situations created a conflict that sowed the seeds of the next war. A war to end all wars was World War 1 which was not to be. Turbulence and turmoil and also technological advancements…

Season 8: Factor Endowment Theory by Hecksher-OhlinThis is a Noble Prize winner theory. It comprises a 2X2X2 framework. Two countries, two commodities, and two production factors capital & labor. The theory proposes that countries must trade with factors of productions in a higher proportion. It is also thus called the theory of factor proportions. We…

Season 8: Theory of Comparative Advantage by David Ricardo When Nations have multiple absolute advantages they still trade in what they are most efficient at. This Theory is close to current reality as Nations do have multiple areas of advantage. We discuss this scenario of trade in this podcast. AtyaasaaOnline is an E-learning portal that…

Season 8: theory of Absolute Advantage by Adam SmithAdam Smith is undoubtedly the father of modern economics. This theory of free trade propagates international trade based on the absolute advantage of specialization. We discuss this theory as a fundamental concept of International Business.AtyaasaaOnline is an E-learning portal that people can preview and learn for free….

Season 8: Interventionist Theories of International TradeThe invisible hand of the government determines Interventionist theories. They are of two types Mercantilist and Neo-Mercantilist. It is all about ensuring export surplus. We discuss the theory from the colonial era to the current era in this podcast.AtyaasaaOnline is an E-learning portal that people can preview and learn…