...Economic development is the increase in the standard of living of a population. Economic development includes economic growth among the main criteria. Economic growth is a sustained growth from a simple economy to a modern one. The study of economic development includes theories of the causes, the process, and the policies by which a nation improves the economic, political, and social well-being of its people. Economic development theories relate to the causes of industrial-economic modernization, the phases of economic development, and the organizational related aspects of enterprise development; it requires sociological, economic, and cultural researches on the evolution of markets and industrial organizations within modern societies. From other perspectives, economic development of embrace improvements in a variety of indicators such as literacy rates, life expectancy, poverty rates, health, and education. In fact, these indicators are more related to economic growth so that development goes often with growth. Scientists often argue that poor countries and mainly “third-world countries” have experienced very fast economic growth with barely little economic development and especially during the periods where they served as resource providers for industrialized countries. Other economists claim that economic growth causes or contributes to economic development, because according to this perspective, because at least some of the increasing income is spend on human sustainable...
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...Why Did The Industrial Revolution Happen First in Britain? The industrial Revolution began in Great Britain almost 250 years ago, in the 1760s. Within a half century it started to spread, first to northwestern Europe and the newly formed United States. The Industrial Revolution consisted of the application of new sources of power to the production process, achieved with transmission equipment necessary to apply this power to manufacturing which involved an increased scale of human organization that facilitated specialization and coordination at pre-industrial levels groupings rarely contemplated. The key invention in Europe’s industrial revolution was the steam engine, which harnessed the energy potential of coal. Later, the industrial revolution also used electric and internal combustion motors and petroleum as well as coal. This revolution, progressively introduced steam or other power to the production process and steadily increased the proportion of the process accomplished by equipment without direct human guidance. The organizational facet of the industrial revolution was initially symbolized by the factory, but the organizational principles spread beyond the factory itself. The two central features of industrialization were the revolution in technology and organization of production, which yielded one clear result of a great increase in the total of goods and individual worker’s output. The revolutionary quality of industrialization is particularly obvious in the world...
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...paper attempts to explain the reason why some European countries joined or formed secret alliances, which was to undermine its purpose of maintaining peace in Europe during our period of study. Shortly after the Franco-Prussian war in 1870, Germany became the European strongest power until the fall of Germany in 1914. The unification of Germany brought about changes to the European diplomatic scene, with the appointment of Otto von Bismarck as the German chancellor in 1871 by Kaiser Williams 1, he reorganized the German military and increased industrialization in Germany. Through Bismarck’s political strategies Germany was able to become European’s instrument for peace and balance of power. According to some research we realize that during the reign of Napoleon Bonarphte coalition were also formed against the French aggression, therefore we can say the alliance systems had been occurring in Europe before the coming of Bismarck, but for the purpose of our study the system of alliance that was going to change the political order of Europe, both in the east and west was formed between 1871-1907. This system of alliance was not aggressive but gradually it generated into the outbreak of the First World War which occurred as a result to the Balkan crisis and various territorial dispute in Africa and Europe.The alliance system was started by Bismarck, the German chancellor from 1871-1890. After the franco-prussian war, Bismarck held that Germany was a “satiated state” which should give...
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...‘Russia was a backwards country with little hope of moderating herself’ How far do you agree? Throughout time many historians have stated that Russia (prior to its revolution) was a ‘backwards’ country and that it had little chance of developing in order to keep up with the modernized world we live in today. However, by arguing for or against this, one must first take into consideration Russia’s social views, economy, geography and political tactics at this point in time. Russia’s take on politics was different to some of the other powerful countries at this time. They had not yet brought in any form of democracy, however, with the country being 80% peasants, it was not yet possible. As the majority of the country are people who are being treated badly by their ruler, there was no way they would vote for the Tsar and therefore the country had to continue as they were, in an autocratic state. This was one of they key factors which labeled them as ‘backwards’, the country was ran in a way that was considered outdated and un-modern. The country’s education system was another factor that was continuously preventing them from moving forward into the modern day world. With 90% of the country being illiterate, there was no way for the country to industrialize (which would also go on to effect their economy), without people being able to read or write, it became even more difficult for the country to move forward. The economy became weak very quickly because of the growth in...
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...Gin Slavery was becoming less and less profitable in the South prior to 1793. One reason was because cotton was not a profitable crop for farmers because preparing it for sale was so labor intensive. Eli Whitney's cotton gin turned cotton into a profitable crop and raised the demand of slaves in the South to grow it. This coincided with the North becoming a more industrialized region that didn't need to depend on slaves. 1819 Missouri Compromise The Missouri Compromise was brokered by Senator Henry Clay to settle the dispute between the North and the South about if the Western territories would be slave or free. Under the terms of the Compromise, slavery would only be allowed in Missouri and south of the 36th parallel. The need for the Missouri Compromise illustrates how the North and the South were beginning to hold very different views on how allowable slavery was to the nation. Bitter feelings about the compromise persisted in both the North and the South. 1828 The Nullification Crisis The Nullification Crisis grew out of a protective tariff of 1828. The tariff was popular with the Northern states, because it provided protection for American made goods. Southern states traded heavily with Great Britain during this time, and felt it would damage their economies. With the support of Vice-President John C. Calhoun, South Carolina passed the Ordinance of Nullification. It stated South Carolina did not have to abide by the tariff, because the tariff was unconstitutional...
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...By the time 1750 came around, American was experiencing what is known as the First Industrial Revolution (circa 1780-1850). It is hard now to fathom the idea of having to function economically without the use of factories, factory machines, and factory workers. By history shifting from the cottage industry, traditional agriculture, and manual labor into a factory-based manufacturing type systems made of complex machinery, constant technological expansion, and new energy sources and advanced in transportation, we evolved. The entire world evolved, soon to rely on industries to survive. For hundreds of years, life was focused on agriculture. Most people lived in countries because city development was minimal. Most families farmed their own land and hand-made all necessities they needed, including farm tools, clothing, furniture and traded for things they could not develop on their own. Some trade items became more demanding such as thread developed on a spinning wheel or textiles being developed by hand on a weaving loom. This demand is what began the need for more products for more profit. (Riane Eisler (2007)). A chain of inventions in Great Britain was created to develop an increase in the production of manufactured goods. People all over the country began to develop the need for more complex machinery that could complete the task quicker and more efficiently that human manual labor could provide by itself. Two significant rises of the Industrial Revolution are...
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...Nobody stuck to a schedule; things were done as needed. Skills were acquired through apprenticeship. An apprenticeship lasted from three to seven years. Apprentices lived with their masters during this time period, while trading knowledge for labor. However, women were not allowed to have such apprenticeships. Women gained knowledge of domestic skills through their mother, as it was assumed that the women would marry. Some women would work respectably as: servants, laundresses, seamstresses, cooks, and food vendors—or not respected as prostitutes. Men directed the lives of family members and apprentices: deciding occupations for sons, marriages for daughters, etc. Women (the wives) were responsible for: food, clothing, child rearing and Gonzalez 2 tending to apprentices, yet still subject to man’s direction. Traveling by road was difficult as the roads themselves were poor. The federal government funded exclusively interstate projects. In 1808, the federal government crafted the national road. $7 million was spent on this project, but connected the east to the west. Waterborne travel was...
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...Karachi school for business and leadership | Financial Institutions (Banks) & Industrial Development in Germany, Russia & India | Global and South Asian Business Development | Dr. Imran Ali | | 3/24/2014 | Salik Chaturbhai M2130024 Taimour Abdullah M2130017 Zeeshan Jessani M2130034 Salik Chaturbhai M2130024 Taimour Abdullah M2130017 Zeeshan Jessani M2130034 Contents Introduction 2 Review of Literature 3 Looking at the Past: Industrialization and Financial Institutions 8 Germany 8 Deutsche Bank, Germany 10 Russia 13 Sberbank, Russia 16 India 17 The State Bank of India 18 Major Themes: Comparison & Contrast 24 The debate between Capitalist and Communist Industrialization 25 Fiscal and Industrialization policy 27 Mission Statement and goals 30 The Banking Sector 31 Target Markets 32 Colonized Industrialization or De-industrialization 34 Conclusion 37 Appendix 1 39 Appendix 2 40 Work Cited 42 Introduction Mankind as a whole and the world as has been observed in the past has undergone much change in all aspects of human life. The concept of economic development in light of increasing industrial growth, free labour, the growth of private property as an institution and the development of the international trade as a concept have changed the way humans and hence nations interact and intervene in the world economic system. These gradual yet drastic changes in the structure of human interactions led to a wave...
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...1. First industrial revolution 2. Second industrial revolution 3. Modernization II. Europe……………………………………………….. 9 1. England 2. Scotland 3. Rest of Europe III. U.S.A………………………………………………... 17 1. The growth of U.S. industry. 2.Organization of industrial relations. 3.Agriculture. IV. Developments and innovations……………………… 24 1. Colonialism 2. Apprenticeship 3. Science and technology 4. Machine tools 5. Textiles 6. Steam engines 7. Locomotives and Steamboats 8. The Electric Telegraph 9. Architecture 10. Rubber 11. Lighting 12. Time V. Conclusions………………………………………... 42 VI. Bibliography………………………………………… 44 3 I. General Concept 1. The First Industrial Revolution Between 1760 and 1830 the Industrial Revolution was mainly confined to Britain. Being aware of its head start on other countries, Britain forbade the export of machinery, skilled workers and manufacturing techniques. This could not last, as many Britons saw profitable industrial opportunities abroad and continental European businessmen were keen to lure British know-how to their countries. Belgium became the first country in continental Europe to be transformed economically, having machine shops set up in Liège (c.1807) by two Englishmen, William and John Cockerill. Like Britain, the Belgian Industrial Revolution centred on iron, coal and textiles. The industrialization of France was slower and less thorough than that of Britain and Belgium. At the time that Britain was establishing...
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...C HOBSBAWM FIRST VINTAGE BOOKS EDITION, AUGUST 1996 Copyright © 1962 by E. J. Hobsbawm All rights reserved under International and Pan-American Copyright Conventions. Published in the United States by Vintage Books, a division of Random House, Inc., New York. Originally published in Great Britain in hardcover by Weidenfeld & Nicolson, London, in 1962. Library of Congress Cataloging-in-Publication Data Hobsbawm, E.J. (EricJ.), 1917The Age of Revolution, 1789-1898 / Eric Hobsbawm.—1st Vintage Books ed. p. cm. Originally published: London : Weidenfeld & Nicolson, 1962. Includes bibliographical references (p. ) and index. ISBN 0-679-77253-7 1. Europe—History—1789-1900. 2. Industrial revolution. I. Title. D299.H6 1996 940.2'7—dc20 96-7765 CIP VINTAGE BOOKS A Division of Random House, Inc. New York Random House Web address: http://www.randomhouse.com/ Printed in the United States of America 10 9 8 7 6 CHAPTER MAPS 1 T H E W O R L D IN T H E 1780s Le dix-huittime stick doit lire mis au Panlhion.—Saint-Just1 i Europe in 1789 page 309 2 Europe in 1810 310 3 Europe in 1840 311 4 World Population in Large Cities: 1800-1850 31a 5 Western Culture 1815-1848: Opera 314 6 The States of Europe in 1836 316 7 Workshop of the World 317 8 Industrialization of Europe: 1850 318 9 Spread of French Law 320 I T H E first thing to observe about the world of the 1780s is that it was at once much...
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...A short history on the economic background of the country United Kingdom is a very old country consists of England, Scotland, Wales and Northern Ireland. In the 18th century, the UK was among the first country in the world to industrialize and during the next century it became one of the dominating countries in the global economy. (Martinez, 2013) In the turn of the century, the UK remains among the great economies of the world trailing behind the US and some European countries. In recent times, the UK service sector makes up the bulk of its GDP with London and Edinburgh as among the biggest and busiest financial centers in the world. Being an old country, UK is bursting with historic monuments, royal palaces museums and some of the world’s cherished heritage sites (UNESCO). Tourism is among the important income generating sectors in its economy with millions of tourist visiting the country from around the world making it a UK £127 billion a year industry and provides employment for about 3 million people ("Britain's tourism industry,”). The United Kingdom’s economic freedom has reached a score of 74.8, making its economy the 14th freest according to the 2013 Index of free economies. It scored 0.7 point higher than its last year’s ranking and reflects efforts to improve the control of government spending. In regional terms, the U.K. is graded 5th in the Europe region. (Kim, Miller , Holmes & Roberts, 2012). Image source: Berkshire - Reading Market Place showing Salmons...
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...Scandinavian and Slavic origin and settled in that region out of ± 800 AD Byzantine Empire A major legacy of the Byzantine Empire for the Russians was the eastern orthodox or Greek Orthodox Church With the decline of Byzantium came a wave of conquest from the East, the Mongols until the 15th century (Tatars). To a large extent, the Mongols allowed Russians to maintain their way of life: - Slavic based languages including writing system (Cyrillic) - Orthodox religion The Russians adopted much from Asian culture and this led western Europeans to think less of the Russians Geographically Russia was isolated from the rest of Europe: - Entirely land locked (mostly) - Huge Plains of Eastern Europe prevented overland travel During these early years there were a series of muscovite princes based in Moscow and called themselves Tsars. By the 17th century the Romanov family became the ruling dynasty: - Alexander I (1801-1825) - Nicholas I (1825-1855) - Alexander II (1855-1881) - Alexander III (1881-1894) - Nicholas II (1894-1917) Under the rule of Peter the Great (1689-1728) Russia grew greatly in size and entered the European World www.ibscrewed.org The Russia of 1800 was one of the greatest autocracies in Europe where: - The Tsar’s rule was absolute - There was a small, but powerful landowning elite - The vast majority of the population existed in a state called serfdom Serfdom: refers to the legal...
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...across the members. In contrast, inequality was pervasive in the agrarian economies that dominated the world in 1800. The Industrial Revolution deeply changed this trend, Income per person began to undergo sustained growth in a favored group of countries. The richest modern economy are now ten to twenty times wealthier than the 1800 average. For Clarks the biggest beneficiary of this revolution has been the unskilled workers, the poorest. Just as the Industrial Revolution reduced in come inequalities within societies, it has increased them between societies, in a process recently labeled the Great Divergence.1 For example African countries, in certain case, would have been better never discover the industrial revolution, because they remained trap in the Malthusian Era creating an higher divergence between population, and driving down standards to subsistence. * Why did the Malthusian Trap persist for so long? * Why did the initial escape from that trap in the Industrial Revolution occur on one tiny island, England, in 1800? * Why was there the consequent Great Divergence? "Thus I make no apologies for focusing on income. Over the long run in come is more powerful than any ideology or religion in shaping lives. No God has commanded worshippers to their pious duties more forcefully than income as it subtly directs the fabric of our lives " The Malthusian Trap: Life to 1800 The crucial factor was the rate of technological advance. As long as...
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...empirical investigation of the perspective of jeepney industry based on their actual experiences in the Philippines. These viewpoints were elicited during face to face, structured interviews lasting between 1.5 to 3 hours. The industry are experiencing great uncertainty with respect to long-term goals especially if what is currently happening is unstable, uncertainties about the magnitude of jeepneys in the market, the cost and benefits, but stakeholders are willing to be involved in promoting the industry to its maximum potentials. There appear to be few articulated and carefully thought-out development strategies nor is there much evidence of internal business processes being reengineered to accommodate the requirements of jeepney presence. The objective of the study is to examine what are the problems, benefits and what might be done to alleviate the jeepney industry in the country. Field of Study: Business, Entrepreneurship, Jeepney Industry and Transport 1. Introduction The jeepney culture that remains alive for five decades are no longer tenable. The ending of the age of the jeepney undoubtedly marks a significant turning point in the Philippines historical development. Jeepney industry was considered inappropriate to advanced technological systems, they were even regarded as an obstacle to growth. For a variety of reasons jeepney industry have not received as much attention from policy-makers and researchers. Through times, it witnessed the rehabilitation...
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...This article was downloaded by: [University of Sussex Library] On: 31 August 2011, At: 03:33 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK Economy and Society Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/reso20 Trotsky, Gerschenkron and the political economy of late capitalist development Ben Selwyn Available online: 25 Jul 2011 To cite this article: Ben Selwyn (2011): Trotsky, Gerschenkron and the political economy of late capitalist development, Economy and Society, 40:3, 421-450 To link to this article: http://dx.doi.org/10.1080/03085147.2011.574425 PLEASE SCROLL DOWN FOR ARTICLE Full terms and conditions of use: http://www.tandfonline.com/page/termsand-conditions This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, re-distribution, re-selling, loan, sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand...
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