New World Economy English 2004

Book Summary of New World Economy : Changing Dimensions Of Commerce Clause Business through the Internet (E-commerce) is now an accepted mode of commerce. With the passage of time therehas been a change in instrumentalities of commerce. There has been a change inthe standard of morals and therefore there has been a shift in the doctrine of res extra commercium also. While discussing the allocation of powers in relationto trade and commerce it has been tried to ascertain as to where the E-commercewould lie. The discussion of the Internet and it resultant E-commerce and VAT are tospecial interest for both federal state scholars and economists. New WorldEconomy touches many issues which are emerging and are controversial but are becomingmost pressing in view of new emerging trends due to globalization. One of theemerging andimperative issues discussed in the book is VAT (Value Added Tax). It is workingsuccessfully in some federations as well as in European countries. In India,states are apprehensive of the erosion of their fiscal autonomy and thereforethey are resisting its implementation. However, it need not be so. Keeping in viewother crumbling barriers of geographical boundaries in the age of globalizationand the need of the federating units not to depart from regulatory measures ontrade and commerce, the book is the need of hour for lawyers, economists,professionals and policy-makers.