Rashad Averhart
2/16/15
Professor Bamfo
POLS 2101
Emergence of New Economic World Order
The Emergence Of New Economic World Order by Mihaly Mozes starts off with his
reflection of the old order of world economy in the years of 1945 to 1973. Mihaly then
explains the principles of economic growth following WW2 which had a profound impact
on the world’s economy. He explains that the reconstructio0n in Europe and japan began
after 1945, where every western European country was below the 3% growth rate. Mihaly
then begins to dive into the statistical aspect by stating that countries like Austria, Italy,
Greece, and Spain growth rate took a dramatic decrease below 5% following the war.
Mihaly expounds more to the reason why these countries were in this low state in the next
upcoming paragraphs. Mozes states that these nations were not rich enough in mineral
resources which led to the dramatic decrease. He states that low prices of raw minerals are
important to spur economic growth in a given country. Minerals such as oil, iron, coal, and
copper were minerals that were discussed in the thesis. Mihaly then explains that through
time these countries rapidly rebuilt there ecology to a stable state by finding and allocating
there resources as best as they could. In the following years these countries grew to a
larger percentage of the total economic production of the world.
Mozes then starts to expound on different factors which had an influence on economic
growth in Europe. He states that the emergence of the European common market was one
