...from a state of under development to a “modern state of capitalism and a liberal democracy. In 1960, Rostow wrote the stages of Economic Growth a process that he believed that every country must pass through to become independent. 1. Traditional Society – based on an agricultural economy, with intensive labor and little trading and a population that does not have scientific perspectives on the world and technology. 2. Reconditions to take out – Countries have a better outlook in regards to develop manufactory national and internationally instead of just locally. 3. Take-off – A short period of intensive growth and industrialization whereas worker and institutions is focused on a new industry. 4. Drive to Maturity – Which develops over a long period, whereas, the national economy grows and diversifies, the advancement of technology and improved standard of living. Age of High Mass consumption Countries should shape themselves after the United States did and flourishes in capitalist system characterized by mass production and consumerism. W. Arthur Lewis was a Stlucian enconomist who believed that a country is overpopulated when its population exceeds the capacity of it (natural resources to support that particular population size. His focused was on agriculture and a called for greater specialization in this area. Lewis wrote a theory based on the economic reality of the Caribbean The two sectors is Traditional and Modern 1. Traditional – sticked to the old...
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...Review up till now WW1 Economic downturn Fear of radicalism Immigrants might be the problem… Let’s go back to the good ole days… Q: Are the old days really better? The Jazz Age (1920s) The Long Nineteenth Century Historians always ignore what everyone else is doing 1789 to 1918-???? Industrial Revolution French Revolution Victorian Ideas and Imperialism Bigger push for imperialism Ends in 1918- why? WW1 is over, Russian Revolution taking place What replaces it? “The Modern Age” parallels “Return to Normalcy” what does that mean? Science better at understanding the world than religion Individuals have the right to choose their own lifestyles Women control their minds and bodies More rights for minorities? Reactions? The New Traditionalists God trumps science Bible is the ONLY source of morality Women are subservient to men Immigrants are subservient to white Anglo-Saxon men 1920s The New Era The Roaring Twenties Rise of automobile, gangsters, rise of the radio & other gadgets and appliances The Jazz Age Clash of old & new values The Economy after the war… Switch from war to peace initially difficult Gets re-cranked up by 1922-1923 United states’ industry still intact after war, unlike Europe Becomes world’s top producer of consumer products Middle class expands greatly What about the lower classes? Same problems as before Too much prosperity for middle class to care!!! Rise of consumer spending on new fangled items...
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...widespread epidemic, in the Middle Ages, that was caused by bubonic plague. Bubonic plague was a disease that spread through fleas and rats. The Black Death affected Italy around 1347, and it quickly reached Spain and France. From Spain and France, it spread to the rest of Europe. In the 1300s the Black Death spread to China killing an estimated amount of 35 million people. It condemned one in three people to death, and the death rate was worse than that of any war in history. Symptoms of the plague included but were not limited to: black boils covering the body (specifically under the arms), high fevers, and vomiting. Economically the Black Death caused inflation, the revolt of the citizens due to fear, and normal life...
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...their vessels and compasses. Trade and commerce grew exponentially as several small nations like Spain, Portugal, and later Holland became masters of the sea and the route of their vessels reached more and more land and the people on it. The great discovery changed, to a great extent, the people’s outlook on the world and the development of trade and commerce facilitated by this discovery increased substantially the riches of European countries and their people, propelling the economic development to such a point that the old social structure became compatible no more. On the other hand, the Renaissance emancipated people’s mind and facilitated the spread of ideas as freedom, equality and democracy which are essential to the founding of modern society. If the great discovery updated people’s physical outlook on the world, the Renaissance transformed their conception upon society and human beings. They became more conscious of the position they were in and unsatisfied with it, because it was not fair and now they knew it and wanted to change it. They were ready to resist any sort of imitative which had a potential to harm the rights of them. In this struggle between the king and the people, the king gradually lost his power and common will of the people prevailed. This transfer of power and the transition of society took place either by war and...
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...said, "Technology like art is a soaring exercise of the human imagination," by Daniel Bell. The modern period was a time of economic change, and it happened from 1750 to 1914. The modern period was at the same time as the industrial revolution, so during that period while there were advancements in machinery, there were also advancements in the economy. This period was a turning point for the economy and caused it to change quite a bit. It changed the economy in ways such as production rates, the way families brought in money, technological advancements, and more trade. Even though the modern period was a time of change, you could even argue that it was also a time of continuity in ways such as colonization....
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...DEFINING THE MODERN WORD The early modern era is said to have been between the years 1500 and 1800. It's held to have begun during the Late Renaissance period and ended about the time industrialization changed the face of the world. It was an amazing time of scientific discovery, an age of exploration and a time where the very boundaries of knowledge were expanded since the end of the Roman Empire. One of the first things a student of the time is struck by is how similar the arguments at the dawn of this age are with the ones faced by contemporary people. Before analyzing that, it may be a good idea to get an idea of what the world was like, how people thought and what the hopes and dreams of the people of the time were. To do this, we first need to understand how that Europe came to be. The Black Death was the pivotal event of the High Middle Ages. In the span of a few short years the entire face of Europe changed. The plague began with the end of the Medieval Warm Period, which ran from the tenth century to the fourteenth. This shift to colder weather in Europe leads to widespread famine and years of uncertainty. Up until this time, Europe had enjoyed a rising population as well as a rising standard of living. People will increase their population to the limit of their food production. When people can no longer expand food production, then a day of reckoning will occur. Most good arable farmland was under cultivation and most of the marginal farmland was cultivated...
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...Needham’s question has intrigued many generations of scholars and philosophers. It’s an important question to ponder over. 1- Introduction During the Renaissance and into modern times, the west countries took a leading role in scientific discovery and invention, while China stagnated. Boasting one of the world's most glaring agricultural civilizations, China's agriculture began in the remote antiquity when there was still no written history. China’s economy system emphasized agriculture, whereas Western countries enjoyed growing trade and manufacturing. 2- Reasons One of the convincing answer to those questions attributes Western dominance to the rise of capitalism. Even the most militant enemies of capitalism credit it with creating previously undreamed of productivity and progress. The capitalist system was "the first to show what man's activity can bring about." Capitalism achieved that miracle through regular reinvestment to increase productivity, either to create greater capacity or improve technology. Although many factors might contribute to the emergence of capitalism and modern science in the West: openness of economy and society was a necessary condition for developing to the capitalism and modern technology. There was an astonishing contrast between the openness of the Western economy and the closeness...
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...There are three major economic problems in our economy. They consist of economic growth, unemployment rates, and inflation. In the midst of this project, I will touch on all three of these major concepts. First let me start off with economic growth. The definition of economic growth is an increase in the amount of goods and services produced per head of the population over a period of time. So in reality this means “an increase in capital stocks, event is in technology, and improvement in the quality and level of literacy Are considered to be the principal cause of economic growth.” (1) Economic growth can be measured in two ways, by an increase in real GDP over appeared of time and an increase in real GDP per capita over sometime period. According to my macroeconomics book, the real GDP for the United States in 2011 was around $15,052.4 billion and $15,470.0 billion in 2012, which means economic growth rate for 2007, was 2.8%. Usually growth rates are positive, but they don’t always have to be, for example in 2009 the US growth rate was a -2.4%, which means a decrease in the country’s gross domestic product (GDP) during any given year. Let’s talk about modern economic growth, modern economic growth is defined as “sustaining an ongoing increases in living standards that can cause dramatic increases...
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...mechanism explained in this book, the Malthusian Trap, ensured that short term gains in income through technological advances were inevitably lost through population growth. Thus the average person in the world of 1800 was no better off than the average person of 100,000 BC. Indeed in 1800 the bulk of the world population was poorer than their remote ancestors. The lucky denizens of wealthy societies such as eighteenth-century England or the Netherlands managed a material lifestyle equivalent to that of the Stone Age. But the vast swath of humanity in East and South Asia, particularly in China and Japan, eked out a living under conditions probably significantly poorer than those of cavemen. The quality of life also failed to improve on any other observable dimension. Life expectancy was no higher in 1800 than for hunter-gatherers: thirty to thirty-five years. Stature, a measure both of the quality of diet and of children’s exposure to disease, was higher in the Stone Age than in 1800. And while foragers Figure 1.1 World Economic History in One Picture. After 1800 income in some societies rose sharply, while in others it declined. satisfy their material wants with small amounts of work, the modest comforts...
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...developed. India and other South Asian economies are of interest to CoffeeTime and management is considering the option of entering India (University of Phoenix, Simulation: Research and Decision Making). Knowledge of India What CoffeeTime knows about India are the different locations, historical background, the size and population of the area, religion, culture, main industries, and economic power. From this information managers can gather knowledge about specific cities, their level of affluence, if the population is more modern or conservative, and their consumer population. Secondary research helps for further analysis on these certain cities, such as demographics, which includes age, gender, income, education, leisure and lifestyle. This data also shows the average daily visitors to malls, the number of malls, theaters and restaurants. The infrastructure includes data such as the number of colleges, daily flights arrivals and departures, and road conditions. The data based on competition shows the number of coffee chains, restaurants and the market size for coffee powder. All this information will help CoffeeTime analyze which city to choose, who would be the target segment and what would be the expected revenue. Modern cities with higher level of affluence are more likely to be bigger consumers of “special flavored coffee”. The target segment would be the population in the age group from twenty-four to thirty-four years of age. This segment includes mostly students...
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...at the ripe old age of 14. Adam Smith was obviously a very bright individual, and it showed when he published his first book in 1759 called The Theory of Moral Sentiments; though this book focused more on human morality rather than economics. A few years later, Adam Smith published his most famous work, The Wealth of Nations. This book was the first insight into looking at a fully political economy. As opposed to just looking at an economy by using gold and silver, Smith argued that an economy should be measured by Gross National Product. This idea of GDP was a revolutionary idea at the time because most economists believed that a nation should just use gold and silver to measure the strength of their economy. In his book, he also theorized with an idea of division of labor. The idea of division of labor is that if you were to specialize labor forces, the overall productivity, or GDP, of an economy would bolster greatly. These ideas, though very well known, are probably not as well known as the idea of the Invisible Hand. The idea of the Invisible Hand really has two different ways of thinking, first, Smith argued that the reason that we would get the items we needed (food, materials, etc.) is because everyone acted in their own self-interest. He believed that this was an economic reality that held true for most political economies. Many people do seem to think that the idea of the Invisible Hand is a radical one that has many negative effects on the economy as well. Smith...
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...Aging Population in Modern Workforce Southern New Hampshire University September 13, 2014 Abstract This paper refers to the changes current workforce relationships have to go through, due to the constant aging of their employees and population in general. I will discuss the changes that are most likely to occur, how the aging of the workforce affects managers and companies, what policies eliminate age discrimination, the importance of diversity in workforce, and what actions companies can take into consideration in order to maintain a well-balanced, diverse and satisfied workforce. Aging Population in Modern Workforce Changes in Workforce: Yesterday, Today and Tomorrow Companies and workers have been around for centuries, and the labor force has had a gradually but significantly change. It wasn’t until the 1940, after World War II, when the workforce started to change; 28% of American women was in the workforce (United States Department of Labor, n.d), and the number of workers per retiree was 45/1 (ncpa.org, 2012). Now, the women workforce comprises 57.7 % (Bureau of Labor Statistics, 2013) of the USA workforce and the seniors (65 +) consist of a 25% of the USA workforce (Gallup Economy, 2014). Over the next 5 to 10 years, we are expecting to experience an increasing rate of the senior population in the workforce. “This group is expected to be nearly 40 million in 2018, an increase of 43%. As a result, this age cohort will compose nearly a quarter of the labor force...
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...Edwardian Era The time period of the Edwardian Era in England was a period of sexual politics, mindless triviality, tensions between social security and individual freedom and wavering belief in God and religion. The Edwardian age is sometimes called the "golden age" where extravagant parties and high fashion are all everyone cares about. First impressions and formalities are so important; they matter more than freedom of speech and expression. Women have many restrictions placed upon them. Duty is more important than love. People who are unique or different are to be shunned by society. These are the rules of the early modern era in which Forster wrote his novel, A Room with a View. The issues of class snobbery and a too formal and strict society play a large part in Forster’s, A Room with a View indicating it was written in the Edwardian Age. The upper-middle class is the dominant class of society in England. These people are the tourists that fill the British pensions in Italy. They valued coherence to the rules set by society and would not accept anyone different who did not value or follow the rules. Another big part of normal society knows how to act accordingly under the circumstances. A young lady must always have control over emotions and maintain good composure. Mr. Emerson does not believe intact. He has not taught his son George the formalities of social gatherings or how to be chivalrous. George does what his heart tells him. So when Lucy suddenly falls in...
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...Society has now entered a new postmodern age and we need new theories to understand it, assess this view (33 marks) Most meta-narrative theories such as Functionalism and Marxism can be described as 'modernist' theories in that they explain the workings of 'modern society'. Modern society first emerged in Western Europe from about the late 18th century following the industrial revolution and the mass industrialisation of the western world. Modern can be distinguished from previous traditional societies in a number of ways. Firstly, the nation-state is the key political unit in modern society, we tend to think of the modern world as made up of a series of separate societies, each with its own state. In contrast to the small traditional feudal society where one had to look after themselves, modern nation states have created large administrative bureaucracies and educational, welfare and legal institutions to regulate their citizens lives. The nation state is also an important source of identity for citizens, who identify with its symbols such as the flag. Modern societies run off a capitalist economy. Capitalism brought about the industrialisation of modern society and with it the massive wealth modern nation-states now possess. However the wealth distribution within modern societies is unequal, resulting in class conflict according to the Marxist theology. The nation-state is important in regulating capitalism resulting in something Lash and Urry call 'organised...
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...the late Middle Ages impact the Commercial Revolution? 2. What contribution did Luca Pacioli make to the Commercial Revolution? 3. What was the nature of banking in the Commercial Revolution? 4. What was a joint-stock company? 5. What was the Domestic System” in England? 6. What was the Price Revolution and what were its results? 7. What were the principles of mercantilism and what impact did it have on economics and politics? 8. In what ways did the Commercial Revolution sow the seeds of capitalism? 9. What was “Tulip Mania” in the Netherlands? AP European History • The Commercial Revolution • J.F. Walters & G.W.Whitton 2 The Commercial Revolution Journal 12/A: What important economic changes in the early modern centuries does the term “Commercial Revolution” signify? ––Palmer Chapter 12 • pp. 106-114–– Directions; Using sentences or detailed bulleted notes, identify & explain the evidence Palmer uses to support the thesis listed above. AP European History • The Commercial Revolution • J.F. Walters & G.W.Whitton 3 Background to the Commercial Revolution • Commercial Revolution basics ✓ ✓ ✓ ✓ • change from a town-centered (medieval manorial) to a nation-centered (early modern European) economic system in spite of name, the economic change of the Commercial Revolution was slow in nature Commercial Revolution eventually would contribute to the first era of globalization impacted by developments in the Middle Ages ✓ ✓ ✓ ...
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