Industrial Revolution Changed the orld Economy?
The Industrial Revolution that started in Great Britain in the latter part of eighteenth century is considered by some historians to be the most significant transformation in the economic environment of human civilization after the Agricultural Revolution. hile there is no disagreement on the view that the 'revolution' had a great effect on the world economy and transformed the lives of a large number of people, its effect was by no means uniform. hile it rapidly took roots in certain parts of the world, e.g., in Great Britain to start with, followed by certain countries of estern Europe, and the United States, large parts of the world -- in particular Africa -- remained untouched by it. In this paper I shall discuss the causes of the industrial revolution; identify the countries that were most affected by it and why; explain the effect of the…...
mlaWorks Cited
Ashton, T.S. The Industrial Revolution, 1760-1830. Oxford University Press: Oxford,1997
China" Article in Encyclopedia Encarta, 2003
Industrial Revolution." MSN Encarta Online. 2004. June 4, 2004. http://encarta.msn.com/encyclopedia_761577952/Industrial_Revolution.html
Rodney, Walter. How Europe Underdeveloped Africa. Washington D.C.: Howard University Press, 1981
Oil Price History
Similar to other goods’ prices, crude oil prices undergo major fluctuations during surfeit or dearth of crude oil. This particular product’s price cycle can span over many years, reacting to both demand variations and non- OPEC (Organization of the Petroleum Exporting Countries) and OPEC supply. Through most of the course of the last century, American petroleum rates were governed largely by price or manufacturing controls. The period following the Second World War saw wellhead oil rates averaging 28.52 dollars for every barrel (when adjusted to $2010 for inflation). Without any price control in place, American oil rates would have ended up tracking the global average of approximately 30.54 dollars. In this very age, the median adjusted global and domestic crude oil rate stood at 20.53 dollars in 2010 rates. After adjustment for inflation, oil rates only surpassed 20.53 dollars a barrel half the time between 1947 and 2010 (Williams, 2011).
The…...
mlaReferences
Donahue, C. (2016). Oil Prices and a Stronger Dollar: Causation or Correlation? Merrimack Honors Program ScholarlyWorks.Holodny, E. (2016, December 20). The tumultuous 155-year history of oil prices. Retrieved from Business Insider: Kun Sek, S., Qi Teo, X., & Nee Wong, Y. (2015). A Comparative Study on the Effects of Oil Price Changes on Inflation. 4th World Conference on Business, Economics and Management, WCBEM (pp. 630 - 636). Malaysia: Procedia & El Sevier.Nwanna, I., & Eyedahi, A. (2016). Impact of Crude Oil Price Volatility on Economic Growth. IOSR Journal of Business and Management (IOSR-JBM), 10 - 19.Williams, J. (2011). Oil Price History and Analysis. Retrieved from WTRG: http://www.wtrg.com/prices.htm http://www.businessinsider.in/TIMELINE-The-tumultuous-155-year-history-of-oil-prices/articleshow/56088176.cms
Friedman considers insourcing to be flattener number eight, because it allows small companies to compete like major supply-chain companies. Insourcing refers to hiring another company to handle a company's supply chain. UPS is the major supplier for insourcing services in the United States. Friedman believes that insourcing flattens in three ways: by letting little companies compete in the global market; by dissolving barriers between companies; and by standardizing business practices across companies.
Finally, Friedman looks at a group of flatteners that he refers to as the steroids. These are small flatteners that have the effect of amplifying the other flatteners. Mobile steroids are those technologies allowing people to work in non-traditional environments and include cellular phones, laptops, and wireless internet access. Personal steroids are those things that give power to the individual, and include personal computers, search engines, and peer-to-peer file sharing. While these flatteners are not powerful enough to…...
mlaReferences
Friedman, T. (2007). The world is flat: a brief history of the twenty-first century. New York:
Picador.
Economy Doing?
The state of the global economy has been an issue at the forefront of discussion and debate for the last several years. In his 2011 State of the Union Address, President Barack Obama urged bipartisan cooperation for the continued economic revival of the nation, which drives the economic recovery of the world. The President promised increased spending on education, technology, transportation and research, all of which should strengthen the economy by making the U.S. A stronger competitor in the global marketplace. He also promised to slash spending and reduce the deficit, although the specifics of these cuts were not detailed in his speech (Benac, Kuhnhenn, Werner & Superville, 2011). Various economic indicators support the claim of the President, and economists that the economy has improved since its devastating crash in 2008. Yet, full recovery may still be years away.
Tanneeru (2009) noted that was debate about when and where…...
mlaReferences
Benac, N., Kuhnhenn, J., Werner, E., & Superville, D. (2011). State of the union 2011: It's the economy again. Huffington Post 1/25/11. Retrieved from http://www.huffingtonpost.com/2011/01/25/state-of-the-union-2011-i_n_813612.html
Brown, G.W., & Lundblad, C. (2009). The U.S. economic crisis: Root causes and the road to Recovery. Journal of Accountancy 208 (4), 42-49.
Credit-card gotchas. (2010). Consumer Reports 75 (11), 13-16.
Dampier, M. (2011). Japan's economic recovery will be swift. The Independent Online March
NASA cannot afford to create new technology, and that is a sign of our lack of support of new science and engineering, something that could be critically short in years to come.
In conclusion, there are clearly many advantages to the flat world economy that has developed with the advent of the 21st century, and Friedman does a good job of spelling out those advantages quite well. There are disadvantages, as well, and Freidman recognizes them and gives them priority in his book. America really began this free trade idea that helped shoot technology around the world and make it possible for people to work anywhere, at anytime. America will continue to innovate and create new ideas, technologies, and innovations that will make our world a better, safer, and healthier place, and as they do, they will continue to generate the best jobs and ideas right here in this country.…...
mlaReferences
Editors. "Average mathematics literacy, reading literacy, science literacy, and problem-solving scores of 15-year-olds, by sex and country: 2003." National Center for Education Statistics. 2003. 10 July 2008. http://nces.ed.gov/programs/digest/d07/tables/dt07_389.asp ?
Editors. "Constellation Program." NASA.gov. 2008. 10 July 2008. http://www.nasa.gov/mission_pages/constellation/main/index.html
Friedman, Thomas L. The World Is Flat: A Brief History of the Twenty-First Century, Release 2.0. New York: Farrar, Straus and Giroux, 2006. (ebook).
World War Analysis
WWI analysis examining the significance and impact of WWI on U.S. history
In the early 20th Century, a general fear existed that a huge war would break out due to the circumstances existing at that time and therefore every small incident was considered deadly. However the triggering factor was the assassination of Austrian Archduke Ferdinand in June 1914 resulting in World War I (WWI) or the Great War. WWI took place from 1914 to 1918 and major countries took part in it; war resulting in drastic consequences such as collapse of economies and death of millions of people. The two main groups fighting against each other were Triple Alliance and Triple Entente (also known as the Western Powers). The U.S. did not participate in the war in the beginning and tried its best to remain neutral. However, it was forced to join the Triple Entente when German submarines sank…...
WWI
The assassination of Archduke Franz Ferdinand and his wife represented a culmination of several concurrent forces, all of which led to the outbreak of World War. The concurrent forces that led to World War One can be loosely grouped under the following categories: nationalism, imperialism, and militarism. Within each of these categories are ample sub-categories that can testify to the extent of forces that shaped the pre-war conditions throughout not just Europe but the entire world. World War One was a total war for many reasons: it involved serious civilian casualties on a horrific scale for all parties. The Great War also brought to light the impact of globalization on the global economy and political enterprise. Nationalism, imperialism, and militarism all played a part in shaping participation in World War One; the effects of which continue to reverberate.
As Marshall (2001) points out, "Germany, Austria-Hungary, and Italy were all creations of…...
mlaReferences
Allan, T. (2003). The Causes of World War I. Chicago: Reed Elsevier.
Bosco, P., & Bosco, A. (2003). World War I. Infobase.
Heyman, N.M. (1997). World War I. Greenwood.
Marshall, S.L.A. (2001). World War I. New York: First Mariner.
Gradually, though, the war effort eroded the practical and theoretical underpinnings of racism in the United States. The war stimulated the domestic economy, particularly in the industrial and manufacturing sectors. Jobs were opening up rapidly, and because so many white men were fighting the war, many black men were available to work. "For black workers orld ar II opened up opportunities that had never before existed," (O'Neil 1). The same was true for women, as the war left gaping holes in the labor market that needed to be filled in untraditional ways. At the same time as the war exposed American prejudice, "orld ar II gave many minority Americans -- and women of all races -- an economic and psychological boost." (Harris 1). The Congress of Racial Equality (CORE) was founded, and overall, the war "jump-started the civil rights movement" in the United States (Harris 1; "Identify the impact…...
mlaWorks Cited
Harris, Michael. "How WWII Affected America's Minorities." Los Angeles Times. 13 June, 2000. Retrieved online: http://articles.latimes.com/2000/jun/13/news/cl-40272
"Identify the impact of World War II on minority groups in America." (U.S. History)." Retrieved online: http://share.ehs.uen.org/node/6217
O'Neil, William L. "Minorities and Women During World War II." Retrieved online: http://www.stg.brown.edu/projects/WWII_Women/RA/NCraig/Minorities.html
Takaki, Ronald. Double Victory. New York: Time Warner/Little Brown.
These convergences lead to mixed economies.
Globalization and the U.S. Economy
Outsourcing is a result of the current globalization rate, due to rise of internet users and communication through broadband. In actual sense, outsourcing is inevitable, and no one is going to eliminate it any time soon, including the United States. However, outsourcing will mean loss of jobs in the United States, leading to a position where these jobs need to be replaced. This is because outsourcing results into competitive businesses, leading to profit and export increase and also increases the opportunities for investments in other countries, different from the source country such as the U.S. In the last decade manufacturing jobs have been moving out of the United States, and this can hardly be prevented. In fact, outsourcing of manufacturing jobs has greatly destroyed the middle class Americans, hence undermining the performance of their economy in general. Competition is mounting…...
By attacking from the North, Hitler effectively bypassed France's only real defense against invasion. Within two weeks, Paris was under Nazi control, and still seething from the harsh terms of the 1919 Treaty of Versailles that ended World War I, Hitler demanded that the surrender terms be signed in the very same spot as the armistice that ended that war, and in the very same railroad car, which he had brought out from its museum display for that purpose3. Belgium had surrendered to Germany without firing a shot, effectively dooming France to Nazi occupation, and nearly sealing the fate of more than a quarter million British troops sent to support Britain's ally, France. Only a last-
3. Hayes & Faissler p.444 minute scramble saved the British from capture, at the port city of Dunkirk, where the British used thousands of ships, boats, and dinghies to rescue them all and ferry them…...
mlaReferences
Commager, H.S., Miller, D.L. The Story of World War II: Revised, Expanded & Updated from the Original Text by Henry Steele Commager (2002)
Hayes, C., Faissler, M. Modern Times: The French Revolution to the Present (1966)
Kowalick, T.M. The Western Tradition Transcripts (1989)
Lukacs, J. The Last European War (1976)
"Both the U.S. side and the Mexican side replicate the political, economic, social, and cultural systems of their respective nation-states. At the same time, borderlanders have blended the structures, institutions, and life expressions of the two societies to create something novel and entirely theirs -- the ambiente fronterizo, or borderlands milieu. Today the area stands as a prime example of binational interdependence, providing striking evidence of the trend toward closer ties among the world's nations and societies" (Martinez, 1994)
eferences
Coleman, M., 2005, U.S. Statecraft and the U.S. - Mexico Border as Security/Economy Nexus, Political Geography, Volume 24, Issue 2, pp. 185-209
Hackenberg, ., 1997, the U.S.-Mexico Borderland in Century XXI, Culture and Agriculture, Volume 19, Number 3
Longley, ., December 2004, Illegal Immigration Costs California Over Ten Billion Annually, About U.S. Government Info
Martinez, O.J., 1994, Human Interaction in the Texas - Mexico Borderlands, University of Arizona, http://www.humanities-interactive.org/borderstudies/text/essay.html. Ast accessed on March 28,…...
mlaReferences
Coleman, M., 2005, U.S. Statecraft and the U.S. - Mexico Border as Security/Economy Nexus, Political Geography, Volume 24, Issue 2, pp. 185-209
Hackenberg, R., 1997, the U.S.-Mexico Borderland in Century XXI, Culture and Agriculture, Volume 19, Number 3
Longley, R., December 2004, Illegal Immigration Costs California Over Ten Billion Annually, About U.S. Government Info
Martinez, O.J., 1994, Human Interaction in the Texas - Mexico Borderlands, University of Arizona, Ast accessed on March 28, 2008http://www.humanities-interactive.org/borderstudies/text/essay.html.
As they are interested in increasing economic growth at all costs, while ignoring the short- and long-term impacts that their actions could have on the population. This is evidence, of the validity of the criticisms leveled against: the World ank, it policies and its role. Where, they would play a part in helping to support, various activities that are contradictory to their intended purpose. In this aspect the various criticisms are accurate, as they highlight a hypocrisy that exists between: World ank policy and its long-term effects upon a country.
ibliography
About Us, 2009, World ank. Available from: [5 October 2010].
China Overtakes Japan as World's Second Largest Economy, 2010, loomberg. Available from: [5 October 2010].
Fighting Poverty, 2010, World ank. Available from: [5 October 2010].
Global Monitoring Report 2009, 2009, World ank. Available from: [5 October 2010].
Summit on Millennium Development Goals, 2010, UN. Available from: [5 October 2010].
What…...
mlaBibliography
About Us, 2009, World Bank. Available from: [5 October 2010].
China Overtakes Japan as World's Second Largest Economy, 2010, Bloomberg. Available from: [5 October 2010].
Fighting Poverty, 2010, World Bank. Available from: [5 October 2010].
Global Monitoring Report 2009, 2009, World Bank. Available from: [5 October 2010].
Wilson, a student of public administration, favored more governmental regulation and action during a time when large monopolies still existed. He saw the role of public administration as "government in action; it is the executive, the operative, the most visible side of government, and is of course as old as government itself" (Wilson 235). The pendelum swung, though, and the government was blamed for many of the ills that caused the Great Depression. Franklin oosevelt, despite being called draconian, knew that he had to launch programs that would have a quick effect upon the struggling economy; resulting the New Deal -- a complex, interlocking set of programs designed to produce jobs, economic recovery, and fiscal reform of banking and Wall Street -- exactly what was needed, it seems to turn the Titanic in a new direction (Badger). Then, of course, came the war, which stimulated the economy like nothing…...
mlaREFERENCES
Badger, A. FDR - The First Hundred Days. New York: Macmillan, 2009.
Cooper, P. Public Law and Public Administration. Englewood Cliffs, NJ: Prentice Hall, 1988.
Fesler, J. "Public Administration and the Social Sciences: 1946-1969." Mosher, F. American Public Administration: Past, Present, Future. Washington, DC & Birmingham, AL: The University of Alabama Press, 1975. 97-142.
Halberstam, D. The Fifties. New York: Ballantine, 1994.
hile the orld Bank is intended to assist in the development of the world's countries, the IMF's purpose is to keep a balance in the world's economy concerning financial operations between countries.
The effectiveness of the two has often been doubted with several other institutions from countries receiving assistance being able to take advantage of the funds provided by either the orld Bank or the IMF. Another reason for why some condemn the two institutions is the belief that the U.S. had actually created the orld Bank and the IMF in order to gain benefits from the deal.
Both the orld Bank and the IMF would certainly be more effective if their leaders would not give conditioned help and would see that all the people in the world would benefit the systems equally.
orks Cited
Driscoll, David. The IMF and the orld Bank: How Do They Differ?. International Monetary Fund. http://www.imf.org/external/index.htm (accesed 9…...
mlaWorks Cited
Driscoll, David. The IMF and the World Bank: How Do They Differ?. International Monetary Fund. (accesed 9 December 2008)http://www.imf.org/external/index.htm
World Trade
Discuss international trade issues and how they impact starting a business in Denmark and how it pursues doing business with other countries
Denmark has been following bilateral trade policy based on free trade. This has helped it penetrate major markets while keeping the balance between import and exports. Denmark has been successful in the policy and has a lot of products exported to the U.S. And these include pharmaceutical products, nuclear reactors, boilers, machinery and mechanical appliances; electrical machinery and equipment, and Denmark also imports from the U.S. The World Bank economic indicators for Denmark for the year 2010 show that the current purchasing power per capita -- PPP is at $40,290. (Panjiva, 2012)
Denmark has expanded its trade relations recently with Canada. They both have identical business strategies. Both are based on the agri-food export sectors. The knowledge industries and the agricultural sector and modern concepts like renewable energy, and…...
mlaReferences
Canada International. (2012) "Canada & Denmark trade" Retrieved 24 October 2012 from http://www.canadainternational.gc.ca/denmark-danemark/bilateral_relations_bilaterales/canada_denmark-danemark.aspx?lang=eng&view=d
Ebay.com. (2012a) "International trading policy" Retrieved 24 October 2012 from http://pages.ebay.com/help/policies/international-trading.html
Ebay.com. (2012b) "Welcome to the new ebay" Retrieved 24 October 2012 from http://announcements.ebay.com/2012/10/welcome-to-the-new-ebay/
EconomyWatch. (2010) "Denmark Export, Import and Trade"
Maritime Industry: A Vital Economic Engine
The maritime industry encompasses a vast network of businesses and activities related to the transportation of goods and people across oceans, seas, and inland waterways. It plays a crucial role in global trade, economic development, and national security.
Key Components of the Maritime Industry:
Shipping: The transportation of goods and passengers via ships, including container ships, tankers, and ro-ro vessels (roll-on/roll-off).
Shipbuilding and Repair: The construction, maintenance, and repair of vessels.
Ports and Terminals: Infrastructure facilities that provide access to waterborne transportation and facilitate the handling of cargo.
Logistics and Supply Chain Management: The coordination and....
Title: The Bitter Bean: Core-Periphery Dynamics in the Global Coffee Industry
Introduction:
The global coffee industry vividly exemplifies the core-periphery relationships prevalent in the world economy. Core countries, such as the United States and Western Europe, exhibit economic dominance and control over production and distribution, while peripheral countries in the Global South, where coffee is primarily cultivated, experience exploitation and marginalization. This essay delves into recent news developments in the coffee industry and analyzes how they reflect these core-periphery dynamics.
Coffee Prices and Income Inequality:
Recent reports highlight the widening income gap between coffee producers and corporations. In 2023, the global coffee industry was....
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