...into housing. They gained an extra 750,000 workers between 1932 and 1934 making it easy to efficiently build houses which lowered the cost of production. However, this factor was only made possible by other aspects such as population movement and low mortgage and interest rates. It is also necessary to include that the housing boom was only made possible by their allied industries such as plumbing, cement and electricity as without these products being readily available the houses could not have been built. As the housing industry boomed it made other industries more successful in trade as the consumption of electricity doubled in the 1930’s and by 1938 there were 9 million wireless sets in private homes and the demand for luxuries such as radios and cars also grew. This benefited the other industries and the working class as more jobs were readily available for them to earn a living and provide for their families. It is clear to see that the housing boom could be seen as being responsible for Britain’s economic recovery in the 1930’s as it gave jobs to the working class which increased consumerism as more and more people had money to buy consumer goods which helped the cycle of prosperity to continue on and helped the economy recover. Another contributing factor to the economic recovery of Britain was consumer spending. A.J.P Taylor stated that “increased consumption by individuals pulled England out of the slump”, meaning that Britain came out of the Depression by spending money...
Words: 663 - Pages: 3
...glassmaking, lumber jacking, pitch and tar and more, and each yielded no success. John Rolfe had been experimenting with tobacco and developed his first profitable export. During this, Spaniards had found that the native West Indians were using tobacco. In seeing this, the Spaniards had decided to take some home with them and then a chain reaction was sparked in which the tobacco plant was used throughout the Mediterranean. So now Spain has their own share of tobacco ready for export as they were importing it as well, this is where Britain joined the craze. English Colonists preferred the Spanish tobacco over the Virginian ones. The Virginian tobacco was produced and exported from Virginia but the Spanish tobacco was a different sort which was grown in the Caribbean as tobacco could not be grow in European land. The Spanish tobacco was sold in higher quantities and for much higher price, but nevertheless it was the favoured one by the public, so merchants imported...
Words: 1011 - Pages: 5
...forces, whilst another thirty per cent was being lost on debt interest, which left little money for education or social welfare. Ivan Vyshnegradskii, the finance minister from 1887- 1892 began attempting to rescue the government finances. He reduced imports and imposed tariffs on imported goods, which forced peasants to sell more and more grain which they could not produce, this lead to a famine which overwhelmed large parts of the country in 1891. Russia was also lagging behind many of the Western countries at the time in terms of industrial development too. When count Sergei Witte was appointed finance minister in 1892, there was a desperate need to decrease inflation, improve infrastructure and encourage foreign investment. However, it is debatable how successful the policies introduced by Witte were in modernising the Russian economy. Witte’s aim was to make the Russian economy strong enough to maintain Russia’s position as a Great Power. However, Russia did not possess several of the essential factors required to be able to rapidly industrialise like countries such as Germany and Britain were. Firstly, the majority of Russian peasant did not have complete freedom, which meant that the migration of workers to towns and cities in search of work was limited. Also, the Russian economy didn’t have sufficient funds to invest in industrial development, because it could not produce enough surplus grain to raise funding to support...
Words: 1582 - Pages: 7
...with the textile industries * Great competition among manufactures Industrialization and nationalism * Coal and steam replaced wind and water as new sources of energy and power * Cities grew as people moved from the country to work in factories * Did not only happen in England but went until North America * 1780s started in Britain * Normal people could buy manufactured things * Population grew due to the supply of food * Entrepreneurs are wealthy people. Aristocrats in short. Provided things to the poor. * This caused a shift in an economy based on farming to an economy based on machines * Weaving and spinning (Spinning is for thread and weaving for making cloth which would be our clothes) * Cottage system is where people work in their own house by bringing home machines to weave or spin. * Aristocrats built factories which brought the new factory system. Machines were placed there and people went there to work instead of having huge machines at home. * James Wyatt. Steam power could now be used to spin cotton * 1840, cotton was main product of England. * People imported from England all over the world just for cotton to make clothes * Steam engine was critical * Boil water requires coal to boil so that steam can be produced. The coal becomes iron. * This way, they run the machine and retrieve iron from the used coal. * High quality iron was used to build new machines. * They don’t waste a...
Words: 576 - Pages: 3
...Europe in certain ways. The most obvious would be Great Britain declaring war on the Americans due to their attempt at seceding and being their own nation. However, there were other countries involved in the American Revolutionary War as well, especially France. France wanted to aid the Americans for the reason of getting back what was taken from them by the British in 1763. At first, they sent the Americans weaponry, and the first significant victory by the Americans (The Battle of Saratoga) was won primarily using French weapons. Seeing that the Americans were able to win a major battle, the French became formal allies with them and declared war on Great Britain. Eventually, Spain and Holland also sided against the British, which turned the tide of the war to America’s favor (Lewis 381). With the surrender of Lord Cornwallis in 1781, and the Treaty of Paris signed two years later (which recognized the United States as a sovereign nation) , France was given back Quebec and America became their new trade partner and ally. However, despite the war’s successful outcome, France was under overwhelming debt, which forced the monarchy to place a permanent tax throughout the land for all subjects in 1786. This was the beginning of the end of the “Old Regime”, eventually leading to the French Revolution, which was (ironically) inspired by the American Revolution (381, 385). 1. Why did the Industrial Revolution begin in Great Britain? The Industrial Revolution was “the single greatest...
Words: 636 - Pages: 3
...tariffs on non-empire goods was strongly opposed because free trade had served Britain so well since 1846. A split conservative party was much weaker and it was tariff reform that was largely to blame for Balfours resignation as he failed to bring unity to his party. When the conservative party introduced Free Education in 1891 they lost the non-conformist vote to the liberals. As non-conformists were a sizeable proportion of conservative support, this was a significant loss. As the liberals were campaigning to shut down the religious schools to be funded by the scheme most non-conformist votes went to them. This was Balfours scheme, and he didn’t see it through sufficiently. It was conservatives in power at the time of the boer war, although this war ended in victory the conservative underestimation of the boers cost them. The war occurred because Britain wanted to extract gold from an area of land in South Africa. They did not expect the boers to fight back so well, this made the military look weak, they resorted to burning down houses and killing many people. The conservatives were highly criticised for their treatment of the boers. Due to a shortage of workers at the end of the boer war, the conservative government allowed 50,000 Chinese workers to be sent into South Africa to work in poor conditions for poor pay. The conservatives were heavily criticised for this exploitation of imported workers as well, it was a political scandal and the liberals spoke out against it meaning...
Words: 825 - Pages: 4
...in Morelos reflected the Mexican agriculture at the time period • There was famine going on in the center and northern parts of the country. Corn shipments were being delivered from other countries cause of the shortage. Some 200,000 tons was imported between 1907-1910 • 1908-1909 there was a drought and that is why there was a shortage of corn. It was mostly due to lack of proper irrigation • The governments wasn’t willing to fund enough money for proper irrigation and also because of not having the sufficient farming tools. This lead to the inevitable down fall of Mexican agriculture • Diaz government had a plan for irrigation but because of the peasant displacement in favor of cash crop, which they farmed on their land, lead to a shortage of crops. Irrigation and the favor cash crop with the drought and crops that were infested in the south and center lead to the famine. • Because of this drought of crops domestic companies started coming into Mexico. This didn’t make Mexican society happy • In Veracruz, foreigners held 95 percent of the city’s private property. Cost of living doubles between 1901-1911 • There was a major crisis with unemployment as well. Miners, railroad workers and factory workers were all out of jobs during the famine Monetary and fiscal crisis • Started imposing commercial agriculture, a factory system of industrial products, and monetary money exchange • Silver started to become less of value because of...
Words: 775 - Pages: 4
...The Corn Laws were measures enforced in the United Kingdom between 1815 and 1846, which imposed restrictions and tariffs on imported grain. They were designed to keep grain prices high to favour domestic producers. The laws did indeed raise food prices and became the focus of opposition from urban groups who had far less political power than rural Britain. The Corn Laws imposed steep import duties, making it too expensive to import grain from abroad, even when food supplies were short. The laws were supported by Conservative landowners and opposed by Whig industrialists and workers. The Anti-Corn Law League was responsible for turning public and elite opinion against the laws, in a large, nationwide middle-class moral crusade with a Utopian vision. The first two years of the Irish famine of 1845–1852 forced a resolution because of the urgent need for new food supplies. Prime Minister Sir Robert Peel, a Conservative, achieved repeal with the support of the Whigs in Parliament, overcoming the opposition of...
Words: 372 - Pages: 2
...A SEA of cars stretches as far as the eye can see. Rows and rows of gleaming new vehicles that no one wants gather dust on the concrete landscape. The poignant picture of Avonmouth docks near Bristol shows imported cars that dealers can't sell. It is a stark symbol of the terrible plight of the British motor industry today. One of our biggest employers is desperately fighting for its future, the latest victim of the growing global economic crisis. Leading experts have warned that no one will be immune from the backlash that has already claimed hundreds of jobs. The car industry employes 860,000 workers — and until this year has been one of our greatest success stories. Yet our plants, still among the most efficient and productive in the world, are facing the harsh reality of a crash in global sales. They are producing vehicles that people, worried about losing their jobs, are unwilling to buy. New car sales in Britain have fallen for six months in a row. But that is just half the story. In a double whammy there has been a slump in orders from overseas, and 77 per cent of British-built cars are exported. New car sales are set to fall this year by nearly 200,000, to 2.15million — but experts are warning they could crash as low as 1.6million by 2010. September figures signalled that things were going really badly as sales fell by a whopping 21 per cent — and it was even worse last month, with a fall of 23 per...
Words: 263 - Pages: 2
...Adams was the secretary of state and one of his strengths was negotiating. He was able to gain peace with Great Britain and secured the Rush-Bagot Treaty of 1817. This treaty was able to demilitarize the Great Lakes. Later in 1818, the British American Convention gave Americans their old right to fishing and declared Oregon free to people from Britain and America. As tame progressed, dealings with Spain began drawing people’s attention. It was not determined by anyone whether or not West Florida was considered a part of the Louisiana Purchase. In the year of 1812, the US took a part of West Florida and associated it with Louisiana, while another part of West Florida became associated with the Mississippi. In 1818, Andrew Jackson raided East Florida and then in 1819, the Adams-Onis Treaty was agreed upon with Spain. This treaty stated that Spain would give East Florida to the US and keep West Florida. The US and Spain also agreed of the Southern Border that was west of the...
Words: 781 - Pages: 4
...national capital also moved and settled in New York City. By the early 1800s, Philadelphia was still one of the busiest shipping ports. However, this soon changed with the Embargo Act of 1807, which banned foreign trade with Britain and France as a response to the Napoleonic Wars. After the embargo and the War of 1812, Philadelphia suffered economically and never recovered. New York City soon surpassed Philadelphia in population and trade. After the lost of foreign trade, Philadelphia began to focus on producing goods that weren’t being imported. Philadelphia grew into a city that was important for the country’s supply of timber, paper, book printing, leathers, shoes, and other industrial goods. With the creation of railroads, canals, and other infrastructure, Philadelphia quickly became the country’s first major industrial city. In 1829, Henry Bissex and his newly-weded wife, Maria Eling, crossed the Atlantic Ocean on the London Packet to Philadelphia, Pennsylvania. Philadelphia was still prospering industrially. However, many workers suffered from poor conditions and were often exploited. In 1835, Philadelphia workers staged the first mass strike in North America. 20,000 Irish workers protested against coal wharves and their poor working conditions. The workers achieved a 10-hour work day and increase in wages. In 1844, as Henry Bissex is continues work in the shoe industry and opens his first shoe shop, Nativism is growing evidently in Philadelphia as native whites clash with...
Words: 666 - Pages: 3
...The Current Situation Facing the British Steel Industry Andreea-Adina Criclevit 03.04.2016 This report aims to critically analyse and evaluate the current situation facing the British Steel Industry using contemporary information and a combination of theories such as ‘The International Product Life Cycle’ and ‘Porter’s Diamond of National Advantage’. Background: Steel is a vital material in the process of economic expansion and it has been very important for the society, considering that the level of consumption of steel/ capita can be used as an index of the level of social wealth, political and economic stability. The steel industry is closely linked with numerous industrial sectors and it promotes the innovation, growth and employment of the European member states. Although the EU is the second largest producer of steel in the world after China its goal is to increase the market share of GDP by 20% in 2020. The British Steel industry is necessary tool, without which, the manufacturing success would not have happened. In 1972, the steel production level has reached an all-time peak of 28 Mt (million tonnes) per year and offered more than twice as many jobs as it does now. Referencing back to Michael Porter’s Book, ‘The Competitive Advantage of Nations ‘, in year 1945, there were 50 mills of steel all throughout UK and it has been reduced to 7 in 1970. Following this, the decision to privatise the British Steel Industry was taken by Margaret Thatcher in 1988, however...
Words: 2646 - Pages: 11
...Analyze the challenges Native Americans faced in both allying with and waging war against European settlers. Be sure to reference different regions. From the mid-17th century to the mid-18th century, Britain was at many wars with France, Netherlands, and Spain. These nations dragged the Native Americans into their power struggles as the wars reached the New World. Native Americans faced challenges to trade, peace, and relations with each other and with European settlers in both allying with and waging war against European settlers. However, a few turned these challenges to their advantage. In allying with one European country and not the other, Native Americans faced hostility and conflicts with the other. During the War of the Spanish Succession, Britain was fighting both France and Spain. It allied with the Creek Indians in the Carolinas to attack Spanish settlements in the New World, specifically Spanish Florida. This alliance with Britain resulted in Spanish aggression towards the Creeks. However, even the alliance with Britain could not stop hostility between the English settlers and the Creeks; the Creeks rebelled against the English settlers after the latter ordered the natives to pay trade debts. Farther up north in the New England region, Mohawk Indians allied with the...
Words: 1530 - Pages: 7
...economies, societies, and cultures as a result of the international trade, communication, immigration and transportation (Financial Times n.d.). According to Moore (2003), globalisation is not a new phenomenon, it has started since long before the Britain ruled the waves. Globalisation was focused on the economic section in the past, however, it has recently broadened to a larger range of areas such as culture, media, technology, socio-cultural, political, and biological factors (Financial Times n.d.). Since the past, trading of goods and services, knowledge and cultures have already existed, but the refined technologies at present have increased the exchange speed much faster than ever (Global Education n.d.). This global process has brought some enormous effects economically, socially and politically both between and within nations. There has been much debate in recent times about that globalisation causes only an increase in economic inequalities, however, this essay will demonstrate that globalisation also creates positive and beneficial consequences both between and within nations. Firstly, globalisation creates greater free trade. Free trade is defined as a structure of transaction among countries where no exclusive tax is charged on imported goods (Merriam-Webster n.d.). According to the World Trade Organization (n.d.), free trade empowers economic growth. One of the positive effects of free trade is that it allows a country to specialise in producing a few types of goods where...
Words: 841 - Pages: 4
...Homework Practice Questions: Microeconomics/Macroeconomics The following questions are for homework practice only. They are to be answered in detail, so it can be used for practice and future reference. 1. Suppose you are hired to manage a small manufacturing facility that produces Widgets. (a.) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility? The increase in supply is likely the result of the increased demand, which created economic profit for firms because of higher prices. Depending on whether the increase in supply has expanded sufficiently to causes prices to fall and economic profits to disappear, your firm could profit by expanding output and increasing prices. This can be determined by seeing if prices are higher than they were before the increase in demand. The price per unit tells you the marginal revenue per unit sold. Output decisions should then be based on setting output so that marginal cost is equal to marginal revenue. In this case, the manager would increase the supply and price; but is should increase both in a controlled environment so that the total revenue profits does not drop (for example, raising price beyond a certain price might decrease the demand thus reducing overall profit) Also, the supply should be increased so that Marginal Cost< Marginal...
Words: 2648 - Pages: 11