Institutions and international business

摘要

Economic historians studying the global shift from stagnation to growth during the twentieth century have pointed out that today there are relatively few areas in which misery persists and where material living conditions have deteriorated. In general, virtually everywhere on earth people are better fed, clad, housed, and educated than their forebears. In many countries, international trade and foreign direct investment have led to unprecedented wealth creation through such means as high-value employment opportunities and the transfer of technology to local producers and buyers.