• DR.venkatesha arakere

In The Wealth of Nations, Adam Smith founded a burgeoning field, known now as economics, in an attempt to explain the source of wealth and economic growth among the nations of the world. Describing international markets and trade, Smith is commonly crowned the “father of capitalism” in an age when market economies were developing against the backdrop of colonial, mercantilist empires. Through colonial networks, new peoples were being introduced into global markets, both voluntarily and involuntarily, and contributing goods to the marketplace based on their domestic ratio of land, labor, and capital. Despite the mercantilist structure of the global economy, in which raw materials were exploited from underdeveloped nations for the enrichment of the colonial superpower, Smith began to notice a pattern of specialization that determined production, output, and wealth. Arguing that specialization is intensified by an increase in the size of the market, he predicted that a sharp expansion in the market economy would lead to a considerable sharpening of the division of labor and the specialization that accompanies it. David Ricardo enhanced Smith’s theory with his principle of “comparative advantage,” wherein a nation will specialize in producing goods in which it holds a relative (not absolute) advantage given its factors of production. Comparative advantage determines the patterns of international trade based on the relative abundance of factors of production within national boundaries.

Women & Globalization: The Impact of Increased Women's Economic Rights on Globalization

"Women & Globalization: The Impact of Increased Women's Economic Rights on Globalization", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 9, page no.h323-h338, September-2023, Available :http://www.jetir.org/papers/JETIR2308736.pdf

"Women & Globalization: The Impact of Increased Women's Economic Rights on Globalization", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 9, page no. pph323-h338, September-2023, Available at : http://www.jetir.org/papers/JETIR2308736.pdf