Economist of the 19th century identify three types of movements
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(i) The flow of trade : The flow of trade refers largely to trade in goods. For example, wheat travelled from Russia, America and Australia to Britain.
(ii) The flow of labour : This includes the migration of people in search of employment. For example, more than 50 million people migrated from Europe to America and Australia In search of jobs.
(iii) The movement of capital : This covers the movement of capital for short-term or long-term investments over long distances. For example, capital flowed from financial centres such as London to other parts of the world.
(ii) The flow of labour : This includes the migration of people in search of employment. For example, more than 50 million people migrated from Europe to America and Australia In search of jobs.
(iii) The movement of capital : This covers the movement of capital for short-term or long-term investments over long distances. For example, capital flowed from financial centres such as London to other parts of the world.
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