...conomcscMALTESE HISTORY J. Social & Economic History 19th and 20th Century Form 4 1 Unit J.1 Malta’s Economy in the 19th Century 1. Marsamxett Harbour in 1800. 2. Cargo Ships in Grand Harbour (1870s) 3. The Suez Canal, 1869 1. Malta’s economy during the Continental System (1806-1812) During the Continental System the first commercial banks were set up in Malta. These were the AngloMaltese Bank, and the Banco di Malta. The number of British ships entering the harbours annually between 1801 and 1812 went up from 291 to 3,000. The Maltese found work in foreign trade more than ever before especially since the British made corsairing illegal. 2. The Plague of 1813 and its effects on the economy The collapse of the Continental System in 1812 and the Plague of 1813-14 brought trade with foreign countries to a sudden and tragic end. British merchants re-established their previous commercial contacts in Italy. Thus Malta’s harbour lost most of its activities. Strict quarantine regulations were imposed against Maltese ships by foreign governments because of the plague. Custom duties collected by the Government discouraged foreign merchants to use Malta’s harbours as a centre for transit trade. 3. The effects of the Crimean War on Malta’s economy The Crimean War had considerable socio-economic effects on Malta. After the war the British spend more heavily in their military and naval establishments. There was a larger demand for local and foreign goods for the use...
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...2009 Samson Diegbegha 5/26/2009 Moscow University Touro; Course Title; History of Philosophy, Project Titled; History of Capitalism By; Professor; Marion Wyse Table of content 1:1…….…..………………………………………………………………………Introduction 1:2..………….………………………………………………………………capitalism history 1.3.…….………………………………………..….. Merchant capitalism and mercantilism 1:4……………………………………………….. Transition from 'feudalism' to capitalism 1:5……………………………………………………. Industrial capitalism and laissez-faire 1:6…………………………………………… Finance capitalism and monopoly capitalism 1:7……………………………………………… Capitalism following the Great Depression 1:8……………………………...………………………………………………... Globalization 1:9………………………..………………………………………………………… conclusion 1:10……………………………………………………………………….…………. References The History of capitalism 1; 1 Introduction | Capitalism as we all know is an economic system of producing wealth in which the wealth is privately owned. in capitalism, the land, labor, and capital are owned and operated by private individuals who are trading for one purpose that is, the generation of more income or profits in a legitimate way without force or fraud, by singly or jointly, and investments, distribution, income, production, pricing and supply of goods, commodities and services are determined by voluntary private decision in a market economy. A distinguishing feature of capitalism is that each person is entitled to his or her own labor and therefore is allowed to sell the use of it to any employee...
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...Running Head: ECONOMIC PATTER OF BOOM & BUST OF SLAVE TRADE IN THE PORTUGUESE EMPIRE Topic: Economic Pattern of Boom & Bust in Slave Trade of Portuguese Empire The slave trade of the Portuguese Empire involved “bringing European ships for the first time into regular contact with sub-Saharan Africa”. Otherwise, the Arab slave trade according to Peterson, involved “Arabs exporting slaves from East Africa to many countries around the Indian Ocean” (Peterson, Brian 2008). There are certain commonalities in these trades, but they still differ significantly. That is, though both were superlative industries that flourished in their empires and are somewhat interrelated, they varied in terms of their economic pattern of performance; the Portuguese during the 15th-18th century and the Arabs during the 17th and 18th century. They also differed in trading goods involved, and mechanisms of demise. According to Bamba Gascogine, the Portuguese invaded the Cape Verde Islands in 1460. They specialized in plantation work, growing, in particular, indigo and cotton. The Portuguese slaves also worked in factories that produced cloth. Gascogine states that “The cloth is exchanged in Guinea for slaves. And the slaves are sold for cash to the slaving ships which pay regular visits to the Cape Verde Islands” (Gascogine, 2008). On the other hand, the embryonic era of Arab slavery occurred well...
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...the world, including North America. Britain accelerated its manufacturing, business, and even daily life, being the center head of the Industrial Revolution. Britain first led the way back in the 18th century, and by 1850, its entire society was changed forever, both economically and socially. Britain’s decisions in the previous decades shaped the prime location for an economic boom, mainly by not wasting its time with an absolutist rule nor with too many disputes with other European countries. Through technological and scientific means, Britain propelled itself economically forward, letting the rest of Europe play catch up. By controlling the seas, it shielded itself from disaster in markets across waters. The living and working standards transformed with longer life spans and whole family units working in industries. Although these families faced horrid conditions in these factories, they were still able to make money in the long run through labor unions and new legislation. Overall, Britain became the leading industrial power in Europe, if not the world, as a result of a new prominent social class, a strong capitalist ideal, life altering inventions, revamped living and working conditions, and revolutionary maritime presence, despite ultimately sliding in the later 19th century. The pre-industrial conditions in Europe demonstrated an age of things to come. Britain experimented with exploring other markets of the globe, although it was a rural area. Communication was lackluster...
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...The history of life insurance dates back to 3000BC. Learned scholars expression “Yagaksheman” found in the Rig Veda refers to a sort of social welfare insurance; the ancient Aryans seem to have developed such a concept. Edwin W Kopt in his treatise origin developed and practices of livestock insurance , credits India with being the mother of insurance practices, and opines that the development started in India and after that spread to ancient Babylon. Insurance began as a way of reducing the risk of traders, as early as 5000 BC in china and 4500 BC in Babylon. Life insurance dates only to ancient Rome; burial clubs covered the cost of member’s funeral expenses and helped survivors monetarily. Modern life insurance started in late 17th century in England, originally as insurance for traders: Merchants, ship owners and underwriters met to discuss deals at Lloyds coffee house, predecessor to the famous Lloyds of London. The first insurance company, the society for the assurance of widows and orphans, was founded in London in 1699. After repel of the royal charter in 1720 providing monopoly to the London assurance and the royal exchange assurance companies was phenomenal. Competing companies started launching many new attractive life insurance plans. The first life insurance company of the United States was Corporation...
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...Puritan colonists from England founded Boston, Massachusetts on September 17, 1630. Early European settlers first called this area Trimountaine, but later decided on to name the town after Boston, Lincolnshire, England. A strict and well-structured Puritan society developed in Boston. They founded the first public school in the U.S. called Boston Latin School in 1635. Boston counted as the largest town in British North America until Philadelphia became larger in the mid-18th century. In the 1770s after the British attempted to put a stronger control on the original thirteen colonies the American Revolution began. Many major battles occurred in the Boston area among them one of the best-known the Boston Tea Party. During this time Paul Revere...
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...the United States experienced successive waves of immigration, particularly from Europe. Many immigrants came to America seeking greater economic opportunity, while others arrived in search of religious freedom. Starting in 1820, some federal records, including ship passenger lists, were kept for immigration purposes, and a gradual increase in immigration was recorded. At the turn of the 19th century, roughly 1790-1830, the population of the US doubled to 10 million people as a result of an increase in reproduction, as immigration had slowed during this time to about 250,000. Then another major wave of immigration occurred from 1815-1865 just after the defeat of Napoleon in 1815. Between 1841 and 1850, immigration nearly tripled again, totaling in 1.7 million immigrants, including at least 781,000 Irish, 435,000 Germans, 267,000 British, and 77,000 French. Bad times and poor conditions in Europe drove people out, while land, relatives, freedom, opportunity, and jobs in the US lured them in. Approximately one-third came from Ireland, which experienced a massive famine in the mid-19th century resulting in 750,000 people who starved to death. In the 1840s, almost half of America’s immigrants were from Ireland alone. Typically penniless, these Irish immigrants settled near their point of arrival in cities along the East Coast such as Boston and Ney York City. Nearly 2 million Irish migrated to the United States during this period resulting in more Irish living in America than in...
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...campaigns. The Northwest Indian War and the American Revolution This part of the term paper sample on the history of Chicago explains the significance of the Northwest conflicts. The territory that was fought over in the Northwest Indian War was preceded by many other long standing conflicts for land and resources in the area between Native tribes, and later with French and British colonies. Rigor was always maintained for dominance of this area against U.S control from the start of George Washington’s presidency, and the US Army suffered major defeats at first. But the expansion of US sovereignty and tactical improvements saw the Native Americans lose much of their land, much of which is now modern day Ohio by the start of the 19th century. By the American Revolution all remaining British...
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...Westward expansion developed America economically, and these improvements in turn allowed for easier settlement. The War of 1812 was a turning point for the economy. Due to the blockade by Britain, America’s domestic industries (food and materials) could develop- such as Cotton. Guillaume Vandenbroucke in 2006 explained the arguments that led to expansion when considering the economy. He argues that there’s “a standard view on this matter which goes as follows: the abundance of western land, and thus its low price attracted settlers”, and a couple of secondary views “emphasizing population growth” and “emphasizing the transportation revolution which took place during the nineteenth century.” He later states “The decrease in transportation costs...
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...Industrial Revolution took place from the 18th to 19th century and was a period of movement towards industrialization and urbanization. According to the article Industrial Revolution, Britain was the birth place of this new revolution due to the invention of the spinning jenny, or “Jenny” for short, by the Englishman James Hargreaves. Samuel Slater, an English-American industrialist, is known as the “Father of the American Industrial Revolution.” Slater brought a version of the Jenny to the United States from Great Britain, effectively creating the first textile mills. By the time of his death, Slater owned thirteen spinning mills, which shows how successful industrialization of a new country was. The Manufacturer and Builder was a 26-part New York Journal that was first hand account of what was happening on the industry side of the revolution, meant for the citizens of the country explaining the importance of textiles and steam power. Before the Industrial Revolution, spinning and weaving were done at home for the family itself. The Jenny, after upgrades from countless inventors, changed the course of the economy. In the southern states the surplus of cotton proved beneficial; however, the seeds could not be removed from the cotton quickly enough for the Jenny. Inventor Eli Whitney created the cotton gin that made it possible to remove seeds from cotton about 60 times faster. This invention further boosted the boom in industry. The scholarly journal Factor Endowments, Inequality...
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...Russia’s Slow Industrialization Russia, the biggest country in the world, is located in northern Eurasia. During the period of both the Tsars’ and the Soviet Union’s rule, Russia was about 22,400,000 square kilometers big (Etty). It contains different kinds of landscape, such as steppe, mountains, semi- desert and etc. At the start of 19th century, Russia had the population of 125 million people. Russia has many natural resources, for example, coal, fuel, natural gas, oil, different kinds of metals and non-metals (Boehm). Before 1917, Russia was under the control of tsars for centuries. Tsars such as Ivan the Terrible, Peter the Great and Catherine the Great expanded Russia and made it a more advanced country. As a result, Russia became a...
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...The region was finally subdued after the defeat of Prithviraj Chauhan (Chahamana) by Muzz-ud-din Mohammad Ghori in A.D. 1192. The next instance of historical significance of Gurgaon comes in the writings of the 13th century Turkish traveller, Ibn Batuta. He mentioned the existence of some structures of Islamic importance at a place near Delhi, on the way to Ajmer. Gurgaon has been a part of the caravan route that linked Delhi to Ajmer through Jaipur and was an important trading junction for commodities in the arid belt south of Delhi. Thus, during the medieval phase Gurgaon has been under the control of a succession of rulers appointed by the ruling power in Delhi including Yaduvansi-Rajput and Muslims and later Mughals in this order. During the end of medieval phase, for a few years Farrukhnagar (a part of Gurgaon district) was taken from the Muslim Nawab, and Ghasera (also a part of Gurgaon district) from the BadGoojar Rajput Rao Bahadur Singh by Raja Surajmal...
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...BUSINESS CIRCLE THEORY INTRODUCTION. The term business cycle (or economic cycle or boom-bust cycle) refers to economy-wide fluctuations in production, trade and economic activity in general over several months or years in an economy organized on free-enterprise principles. The business cycle is the upward and downward movements of levels of GDP (gross domestic product) and refers to the period of expansions and contractions in the level of economic activities (business fluctuations) around its long-term growth trend. These fluctuations occur around a long-term growth trend, and typically involve shifts over time between periods of relatively rapid economic growth (an expansion or boom), and periods of relative stagnation or decline (a contraction or recession).Business cycles are usually measured by considering the growth rate of real gross domestic product. Despite being termed cycles, these fluctuations in economic activity can prove unpredictable. History A BASIC ILLUSTRATION OF ECONOMY/BUSINESS CIRCLE. Theory The first systematic exposition of periodic economic crises, in opposition to the existing theory of economic equilibrium, was the 1819 Nouveaux Principes d'économie politique by Jean Charles Léonard de Sismondi. Prior to that point classical economics had either denied the existence of business cycles, blamed them on external factors, notably war, or only studied the long term. Sismondi found vindication in the Panic of 1825, which was the first unarguably international...
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...The mining sector has expanded significantly since the 1970s, with major discoveries of iron ore, petroleum, coal, and natural gas. When Australia was colonized by Europeans in the late 18th century, it was home to approximately 250 indigenous Aboriginal and Torres Strait Islander languages ( Dixion, 1980; Walsh, 1997; Angelo etal., 1994; Austin, 1996), many of which are now either extinct, moribund, or endangered. Today, only 12 indigenous languages continue to be learned by children. There has been growing awareness of Aboriginal and Torres Strait Islander languages among general Australian population, and Aboriginal language courses are now taught in secondary schools in Victoria, South Australia ( Nathan, 1996) , and soon to be introduced...
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...culture to an urban culture. This shift affected society greatly. The time during the Civil War brought on a rise of western farmers. As time advanced to post Civil War, the American People had grown accustomed to a set of traditional values. Religion became a central factor in the lives of families. Traditionalism also gave individuals in families defined roles where men worked and women took care of the children and estate. This type of Victorian society was a period in America when there were strict rules for public behavior and a strong work ethic. By the late half of the 19th century, a modern industrial economy started to emerge through the rise of big business. The railroad industry became the first big business by stimulating the national economy. It helped pave the way for other big industries like steel, coal, and oil to arise as well. This growth of industry made the U.S. a desirable place for immigrants, however it also created a class of workers dependent on wage labor. The conditions in factories were often unsafe and workers had to work long hours for low wages. In retaliation, workers banded together to form labor unions such as the American Federation of Labor to get better working conditions. As America anticipated entering WWI, the state of the economy rose with the increased production of war materials. As men left for war, women moved into the work force to fill their positions. This was a major leap from the old traditional values...
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