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An important feature which distinguishes national from international transactions in factor mobility. The classical economists Adam Smith and David Ricardo, writing in the late eighteenth and early nineteenth centuries, believed that although labour and capital moved freely within countries, from one region to another and from one occupation to another, factors of production between different countries were highly immobile. If factors are immobile internationally ...
The Indian economy has been booming ever since India came out of the shackles of imperialism and emerged as a politically, socially as well as financially independent nation. Although India attained its freedom more than about sixty years ago, the emergence of the Indian economy on the global scene has been a rather recent development. This is because of the realization of the true economic growth potential of India, by the foreign investors as well as business ...