...of Confederation did not provide an effective form of government from 1781 to 1789. The Articles of Confederation had several problems. They had no foreign policy to help regulate trade with Britain or Spain. They gave the states too much power. States started to behave like small countries. The Articles of Confederation gave the states the option to set up their own foreign trade policies. Therefore, the government had no control over trade. The Articles also had a weak domestic policy. The states, no matter their size, were given only one vote in congress. Furthermore, the states needed a unanimous vote if any amendments were to be made to the Articles. The Articles of the Confederation did not provide an effective form of government. Congress, because there was no National court system could not settle disputes between states. The Articles provided the states with the enforcement of their own laws. States could refuse to recognize laws of the other states and this allowed criminals to escape the laws by fleeing across state lines. The Articles gave the states the power to print their own money. The states printed more bills to pay off their own debts overseas, which eventually resulted in inflation and financial chaos. The National government was not given enough power and the states were given too much. The Articles of Confederation created a weak National government with most of the governmental powers retained by each state. The Articles did not provide a separation...
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...and outcomes. Both revolutions began due to the common peoples’ need to obtain independence and liberty from an oppressive government (2). The American Revolution was triggered by the American colonists’ need for financial independence from the overpowering nation of Great Britain, while the French revolution was a struggle to gain social equality among the masses. Although the American and French Revolutions were fought over some of the same ideas, the American Revolution is considered more "conservative" than the French is (2). The intent of the American revolutionaries was not to initiate a revolution, but rather to gain their freedom from a "long train of abuses" (Jensen). In contrast, the French were trying to cause a true revolution because they were not just fighting for freedom but rather to over throw and remove the monarchy (3). The American revolutionaries had no choice but to defend their liberties and the tactics used by the Americans were not as directly aggressive as those used by the French. The American and French Revolution both have similarities and differences. The similarities and differences can be seen in their economy, leaders, ideology, and provocation. The American Revolution, beginning in 1776, was started because of problems with the British economy. The major concept of the time was “taxation without representation” (Jensen). After the French and Indian war, the British...
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...I. Introduction Many historians have argued that war, although destructive in nature, often causes surges in economic activity to provide for both the soldiers at the fronts and the citizens at home. Scholars such as Phyllis Deane argue that war tends to be both positive and detrimental on a nation’s economy. It is essential to keep in mind that these surges in economic activity do not necessarily outweigh the detrimental effects caused by war, especially in uniquely difficult and trying times of war. Specifically, Britain, the mid-eighteenth to early nineteenth centuries, experienced frequent and intense warfare which forced sectors of its economy to adapt to and mitigate the changes which normally affected a nation at war. The British economy dealt with wartime difficulties associated with rises in taxation, in foreign trade, and in financing wars themselves. Taxation, as a source of revenue to finance wars rose significantly, but the sums collected were often insufficient to alleviate growing debt. Foreign trade was often subject to embargoes, the politics of alliances, and privateering. Britain’s merchant class often faced the burdens associated with war. However, the case of the Continental System shows where Britain prospered despite the opposition it faced in commercial trade, making trade a practice where war did benefit Britain. In financing her wars, Britain borrowed heavily from the Bank of England, but after having been strained so much by multiple financial...
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...LESSON 7. THE FIRST WORLD WAR AND THE INTERWAR CRISIS THE FIRST WORLD WAR The 1st WW was debated between two opposing blocks: The Allies: France, UK and the Russian Empire (with the collaboration of Italy, Japan, Belgium and the USA) And the Central Powers: Germany and Austria-‐Hungary (together with the Ottoman Empire and Bulgaria) It was a global war centred in Europe that began on 28th July 1914 and lasted until 11th November 1918, the moment the Allies obtained the victory. By the end of the war the map of Europe was redrawn with several independent nations restored or created, and as a result of the Paris Peace Conference that ended the First World War (the Treaty of Versailles), an intergovernmental organisation was founded with the aim of preventing any repetition of such a terrible conflict (the League of Nations). PROBLEM: This aim failed and, as a result, the renewed European nationalism (together with the German feeling of humiliation) contributed to the rise of fascism that gave birth to the Second World War some years later (1939). The First World War represented the break with the 19th century and a dramatic change...
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...The History of Money THE HISTORY OF MONEY From Its Origins to Our Time This was the final draft of the English text of "Une Histoire de l’Argent: des origines à nos jours" - www.autrement.com/ouvrages.php?ouv=2746710306 - published by Autrement in Paris in November 2007 with a few minor changes in the final French text. I am very grateful to Philippe Godard - www.autrement.com/collections.php?col=277 for his editorial support, and to Autrement for allowing me to make the English version accessible here. INTRODUCTION This book is about the history of money: how did it begin? how has it evolved to the present day? what has it enabled humans to achieve? and why do so many people in the world today have problems with it and suffer from the way it works? The book is also about the future: how may money develop further? how might we want it to develop? Humans are the only creatures that use money. Animals and birds and insects and fishes and plants exist together in the world without it. But in human societies the earning and spending of money has become one of the most important ways we connect with one another. Most of us have to have money. We need to get enough coming in to match what we need to pay out. We all need to understand at least that much about money. But there is more to it than that. Over the centuries, money has reflected changes in politics and government, in economic life and power, in science and technology, in religious and other cultural beliefs, in family and...
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...1945. It was a replacement for the League of Nations. The UN was created following the Second World War to prevent another such conflict. The organization is financed by giving its member states a substantial fee. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing humanitarian aid in cases of famine, natural disaster, and armed conflict. The UN has an agreement with all other nation states to not get in conflict with each other and to settle differences in meetings to prevent another world war. It also makes them stronger as a military force as the UN is meant to back up a nation in the UN if they got in conflict with a country outside of the UN. NATO The North Atlantic Treaty Organization is a group that is made up of different member countries bordering the North Atlantic Ocean. This includes European countries with United States and Canada. NATO’s essential purpose is to safeguard the freedom and security of its members through political and military means. NATO member countries agree that if any one country is attacked, the other countries will come to help them. It's hoped this will stop military attacks on any NATO country. They also have high prevalence of humanitarian aid in helping areas affected by natural disasters and civil war. NATO promotes democracy and encourages cooperation on defence and security issues to build trust and...
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...well. “It is time to go to sleep, Jack,” my stepmother, Dorothea, said. “I am not tired yet,” I moaned. “Now, a thirteen year old boy like you needs his sleep.” “Fine, but could you tell me a story if you do not mind, Dorothea.” “You know you can call me mother if you would like, and I would love to give you a bedtime story.” I hopped into bed, and Dorothea tucked me in. “If you do not mind,” I requested, “I would...
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...Indian Political and Economic History Stages of British Rule 1. What are the characteristics of the “First Stage “ of colonial rule in India? 2. How did East India gain by capturing political power in India? 3. Describe about early settlement Acts? 4. If one carefully studies the period of Indian history between 1757 and 1940 one finds clearly identifiable stages of British colonization each with its specific and distinguishable characteristics. Can you identify the main features of each stage with corresponding impacts on the Indian economy? 5. “The emergence of Industrial Britain resulted in De-industrialization and commercialization of Indian Agriculture in the early part of Nineteenth century”. Do you agree? Explain your conclusions. 6. Discuss the impact of the military and industrial revolutions upon India up to 1858. Which of these would you regard as more important? Industrial Revolution 1. The industrial revolution in the UK changed the nature of British interest in India. Comment. 2. How was the Indian economy affected by the change? 3. What role did opium play in that regard? 4. Would you attribute the origins of the industrial revolution to the inventive genius of the English people? Provide reasons for your answer. 5. Analyze the cause and conditions of the emergence of the factory system of production in Western Europe. What are the chief characteristics? Indian Business 1. Explain the difference in the process of industrialization of jute and...
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...colonists began questioning Britain’s authority as early as the French and Indian War. During the French Indian War, the colonies wanted to defend themselves against the French in North America. They asked King George for permission to raise armies in order defend themselves. Although their reason to raise an army was sincere, George II was suspicious of the intentions of the colonial government and disapproved their petition. After the French Indian War, Britain decided to raise money by taxing the American Colonists for reparations. Taxes such as the Stamp and Tea Acts created controversy throughout the citizens. Some thought that Britain stepped over the boundary with taxes and some reacted violently. The Boston Tea Party as well as the Boston Massacre arose from such actions. With Britain’s Intolerable acts, the colonists made a daring proposition. The colonists, in the First Continental Congress sent a letter to King George declaring war. Although the British government likely procured strong reasons for limiting the opportunities, rights, and freedoms available to American colonists under British rule, the American Colonists were justified in their desire to claim independence from the British government due to taxation without representation in government meetings, limitations by laws that restricted their freedom and the violence and control they were subjected to on the part of the British soldiers. The Americans were justified for claiming Independence because of “Taxation...
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...Brooklyn College Bus 7240X- Fall, 2011 Prof. Charles H Columbus Midterm Exam- November, 7, 2011 1. What are the key considerations an MNE must address when entering a new geography and what are the new concerns for its Financial Management? Why go Global? The keys considerations are: first, an open marketplace which is the fundamental condition for value creation. Second, a strategic management which is the ability to see business opportunities and to design, develop, and execute a long term plan with the goal to create value. The last thing is the access to capital which is the capability of the MNE to access to affordable capital in order to finance the investments. The international financial management requires an understanding of cultural, historical, the institutional differences such as those affecting corporate governance, the FX risk, the political risk, and the financial instruments. It is good to go global because it generates significant benefits for all shareholders. The theory of comparative advantage provides a basis for explaining and justifying why it is good to go global. Going global can make everybody better off. 2. A corporation has many masters to serve. Who owns the Business? Contrast the two wealth maximization models and how it played into the Porsche/VW saga? Companies are created by individuals or small set of partners. The ownership of a company can go from a 100 percent privately own to 100 percent publicly traded and in between a mixer...
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...lives. Under those circumstances, why would they still go? Religious oppression. Both the Protestant and Catholic churches were fighting for power in England. When Britain was under catholic powers, the protestant people were persecuted, and fled to the new world in hopes of being able to worship in their own ways freely. Another reason was economic struggle in Europe. Due to economic struggle, people were losing their jobs and became destitute. When the opportunity to come to the New World arose, many of the struggling people saw it as a way to start over and make their fortune in hope to alleviate the suffering in Europe. Beginning as early as thirty thousand years ago, during the Pre-Columbian Era, Americans came from Asia over a land bridge formed at the Bering Strait during the Ice Age. The new immigrants were gatherers and hunters, known as Native Americans, who reached a population perhaps as many as 100 million spread across Central and South America by the time the Europeans “discovered” the New World. Native Americans development of agriculture provoked new innovations and cultures that would influence America forever ("Study Notes - Free AP Notes," n.d.). During the Middle Ages, Europeans were ignorant to the existence of the Americas. Europeans became acclimated to an assortment of Asian goods including drugs, spices, perfume, and silk, however, key pathways to Asia were controlled by Muslim forces who forced European merchants to pay large amounts for their ways....
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...Indian Political and Economic History Stages of British Rule 1. What are the characteristics of the “First Stage “ of colonial rule in India? 2. How did East India gain by capturing political power in India? 3. Describe about early settlement Acts? 4. If one carefully studies the period of Indian history between 1757 and 1940 one finds clearly identifiable stages of British colonization each with its specific and distinguishable characteristics. Can you identify the main features of each stage with corresponding impacts on the Indian economy? 5. “The emergence of Industrial Britain resulted in De-industrialization and commercialization of Indian Agriculture in the early part of Nineteenth century”. Do you agree? Explain your conclusions. 6. Discuss the impact of the military and industrial revolutions upon India up to 1858. Which of these would you regard as more important? Industrial Revolution 1. The industrial revolution in the UK changed the nature of British interest in India. Comment. 2. How was the Indian economy affected by the change? 3. What role did opium play in that regard? 4. Would you attribute the origins of the industrial revolution to the inventive genius of the English people? Provide reasons for your answer. 5. Analyze the cause and conditions of the emergence of the factory system of production in Western Europe. What are the chief characteristics...
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...REPORT ON “EUROPE – CULTURE, HISTORY & ECONOMICS” “Based on Seminar delivered by Prof. Dr. De Meuter” Submitted To: Submitted By: PROF. DR. DE MEUTER GROUP 7 NIDHI SHARMA RICHARD SUMAN HIMANSHU SAHNI MAHESH DILIP REDDY European culture & history LESSONS OF HISTORY: * Historical truth & historical books doesn’t always actually say or what it meant in the books. * They books are changed from time to time according to the situations and conditions. Example of Christopher Columbus who discovered America has been discussed in the class, where the actual evil intentions of Columbus were discussed who started his journey in search of India and discovered America. Here the myth is said as a history but the factual reality is left behind. Perennial philosophy: The perennial philosophy says about the whole world’s religious traditions as sharing a single, universal truth on which the foundation of all religious knowledge and doctrine has grown. In the perennial philosophy the several representations of different countries such as kundalini of India where the seven chakras represents seven energies present around the spine, Greece and the Caduceus / Homer and the Odyssey, Egypt and the Uraeus-Cobra & vulture, South America’s the oroburos, Chinese Dragon and the European alchemy which representation has different meaning has been discussed. Europe and Christianity: ...
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...that British America felt that Great Britain’s new taxes on the colonies were upsetting their rights as Britain’s and disrupting what had been a peaceful existence without any previous interference from Great Britain. even though there were small groups that wanted their freedom and rights that would be new to them; like slaves, women, Indians, and separatists; the American revolution was still a conservative revolution in which British America felt they were beginning to be treated as second class citizens as their rights were being taken away. For of their time in the colonies, Americans were left without much interference from the crown. During the late 1600’s and half way through the 1700’s fight over territory in North America between Spain and the French and Indians left Great Britain in debt and a way to remedy this was to begin taxing the people in the colonies. Great Britain’s believed it was the colonialists duty to aid the motherland in it’s time of need. They used the stamp act to receive money from taxes on everything from paper to clothes. The colonies were outraged at their sudden taxes that first appeared in 1751 in the form of the Currency Act which regulated the issue of paper money in the colonies. They had no want for new rights or better ones as Americans, just to retain their citizenship. In fact, the goal was not independence but to keep English rights. Americans felt it was unconstitutional to be taxed without representation in the British parliament...
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...calculated? Why is it lower than the government purchases multiplier? How is the transfers multiplier calculated? 2. Given some gaps and marginal propensities to consume, calculate how much government purchases, taxes, or transfers should be changed. 3. Explain why an equal increase (decrease) in government purchases and net taxes (taxes minus transfers) has an expansionary (contractionary) effect. 4. What is the balanced budget multiplier? 5. Explain why discretionary fiscal policy has not been very effective in reducing recessions in the United States. 6. What are the “time lags”? 7. What is meant by "automatic stabilization"? What are the main automatic stabilizers? 8. What is meant by "official budget deficit"? by "structural deficit"? Why is the structural budget deficit a better measure of the intent of fiscal policy? 9. What does it mean that "fiscal policy is expansionary (or contractionary)"? How does one determine whether fiscal policy is expansionary or contractionary? 10. In what ways might budget deficits be bad for an economy? In what ways might they be good for an economy? 11. What is meant by “crowding-out”? 12. Explain the relation between the budget deficits and the trade deficits. 13. What is meant by the "national debt"? What is the difference between "budget deficit" and "national debt"? What is the difference between "gross national debt" and ...
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