History of World Economy

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1. College teaching Economic theory and not Economic practice
2. thank you for informative video. islam prohibits borrowing and lending money on interest
3. Brilliant thank you
4. Thank You. 
5. Another point worth mentioning is that societies rise and fall based on a common denominator: the extent to which hierarchy dominates the relations between individuals in a society. Gerhard Linski's book "Power and Privilege" provides a detailed exploration into how societies move from a communitarian, non-hierarchical structure to one in which producers are increasingly dominated by a rentier elite in league with a priestcraft. The rentier elite appears within generations after the group settles in one place and must establish rules for access and control over land and natural resources.
6. There are a number of remarkable authors who provide to us a study of human civilization in an interdisciplinary fashion. Much can be learned from a reading of 'The Wealth of Nations' by Adam Smith (in particular his writing on landed interests and the rent of land), 'Rights of Man' and 'Agrarian Justice' by Thomas Paine, and any of the many writings by Henry George, author of 'Progress and Poverty'.
   
   Adam Smith's treatment of the monetary system as established in 1609 by the Bank of Amsterdam makes a strong case for receipt money, the issuance of certificates of deposit with full reserves held by the bank. Once this bank of deposit was corrupted, the modern era of fractional reserves began. Eventually governments and bankers colluded to move to the next level, the issuance of currency backed by and redeemable in nothing at all. Ever since our economic history has been characterized by a continuous loss of purchasing power of currency.
   
   Equally important to the story is the failure to follow the advice of Adam Smith, Thomas Paine and Henry George regarding "the land question." Had societies looked to the rent of land as the source of revenue to pay for public goods and services, rather than confiscating earned income and real capital goods and commerce, the monetary corruption would have been easier to deal with.
   
   A few economists understand all of this and what needs to be done to create full employment societies not plagued by inflation. Mason Gaffney, Fred Foldvary and Fred Harrison are three at the top of my list of required reading.
7. New book by Ann Pettifor (I do not receive any % for promoting this)
   http://www.amazon.co.uk/Just-Money-Society-Despotic-Finance-ebook/dp/B00HTAI3YY/ref=zg_bs_268153_9/279-8059919-4377355
8. a really original study! in my point of view its the banking system "fractional reserve and the money debt" the irrespective attitude toward environment "who is the result of the economic theories that believe that's only investment can promote economic growth " and finally the cultural decline that has as a resulted the ignorance of the individuals in the shadow of consumer society. all these factors will cause the absolute decline of the western civilization.