The Economic Theory Based Entirely on Sentimental Hope – Smith vs. Ricardo

Is it strange that classical English economists Adam Smith and David Ricardo based a lot of their economic theory on sentimental hope? That the capitalists of their time would make economic decisions based on their sense of patriotism? Adam Smith considered the possibility that the merchants and manufacturers in England might decide to do their …

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Who Has The Oil?

This map, produced by BP’s Statistical Review division, shows countries based on known crude oil reserves. The larger the country, the more reserve capacity. As evidenced by the chart, many of the world’s reserves are concentrated in regions characterized by political instability and government corruption. Notes: Source: BIP Statistical Review Year End 2004 & Energey …

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