...How far were the policies of the Republican Party the main reason for America’s economic success in the 1920’s [50 marks] Although America remained neutral and did not join World War One until 1917, they were already increasing their country’s profits by selling goods such as: weapons, food, equipment and other ammunition to both sides of the war. During World War One, as well as selling goods, America became ‘the banker’ to the rest of the world: loaning countries money at a very high interest. According to the First World War commissions “Britain, France and Italy owed the USA $22 billion plus interest”, this is showing that USA was at a very stable place financially even before the 1920s began. When the war ended Woodrow Wilson put forward his 14 Points which included a League of Nations. The League of Nations’ overall aim was to prevent war from breaking out again. America’s congress at the time decided that it would be best for America in the long run not to join the League of Nations because, congress believed that the USA should not interfere in any European or world affairs. Refusal to join the League of Nations made America an isolationist country. When Warren G. Harding won the presidential election and became president in 1921 a political party called the Republicans took over from the Democrats and the American government. 1920s America was known as the ‘Roaring twenties’ because of the entertainment and the crazes sweeping the country. There were lots of...
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...How far were the policies of the Republican Party the main reason for America’s economic success in the 1920’s [50 marks] Although America remained neutral and did not join World War One until 1917, they were already increasing their country’s profits by selling goods such as: weapons, food, equipment and other ammunition to both sides of the war. During World War One, as well as selling goods, America became ‘the banker’ to the rest of the world: loaning countries money at a very high interest. According to the First World War commissions “Britain, France and Italy owed the USA $22 billion plus interest”, this is showing that USA was at a very stable place financially even before the 1920s began. When the war ended Woodrow Wilson put forward his 14 Points which included a League of Nations. The League of Nations’ overall aim was to prevent war from breaking out again. America’s congress at the time decided that it would be best for America in the long run not to join the League of Nations because, congress believed that the USA should not interfere in any European or world affairs. Refusal to join the League of Nations made America an isolationist country. When Warren G. Harding won the presidential election and became president in 1921 a political party called the Republicans took over from the Democrats and the American government. 1920s America was known as the ‘Roaring twenties’ because of the entertainment and the crazes sweeping the country. There were lots of...
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...The Booming Roar of The Canadian 1920’s Many Countries go through the business cycle throughout their history, and prosperity is the part of the cycle that truly roars. In 1920’s, Canada, the great prosperity roared, and it was great for all. Everything in Canada roared by 1924 and life was extremely satisfying for the average Canadian, as quality of life was at an all- time high. The future for Women began to appear to be very bright as they made many big steps for the purpose of women’s rights. There was a great deal of women who began to get involved with government. Therefore, the Canadian government recognized the change beginning, and the growing number of women who were starting to make a stand for their rights, and consequently creating...
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...During the late 1800’s, a group of innovative businessmen would change America’s standing in the world forever. Some of these men were Andrew Carnegie, John D. Rockefeller, J.P. Morgan and many more who contributed to industrial and economic change in the United States. They were not remembered as heroes by everyone. Some believe that their monopolizing ideas and ways of crushing their competition made them out to be “Robber Barons” rather than ¨Captains of Industry¨. They received a bad name because their success and the money they made, was at the expense of the working class. They revolutionized the American industrial system and boosted America’s place as a national manufacturing power, while also monopolizing businesses and hurting the working class. Where you find wealth, you'll find that the land contains monopolies. The Captains of Industry made money and revolutionized the American industrial system, boosted America’s place as a national manufacturing power, increased the standard of living in America by creating many jobs, and generously gave away their own money to various charities and organizations. There are multiple reasons why these big businessmen should be remembered as “Captains of Industry”. One example is their generosity towards the...
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...Japan economic boom after the war you must also look at there history. Without the creation of the industrial economy during the Meiji Japan this economic growth after postwar could have not happened. To look even closer lets examine the period before called the Tokugawa period, from 1630's until the 1860's. Smith explains that "during this period Japanese economy experienced unparalleled growth and structural change" (Smith, Page 4). The system was set up on rules and obligations on all sections of society. These systems of control helped rapid urbanization. Education is also a factor in the economic development in Tokugawa period. Tokugawa Japan abapted Confucianism belief system from there neighbors China. This became important because "one of the distinctive traits of Confucianism was reverence for education and learning" (Smith, Page 5). This spread of education was dramatic. Not Macdonnell, 2 Only did the knowledge seep the upper class (such as the samurai and merchants) but in order to expand business it filtrates down to the peasants and artisans also. During this period up to forty percent of boys and ten percent of girls were educated by the 1850's. These are great numbers compared to other societies. The Tokugawa period in turn developed an economy familiar to bureaucratic direction and directed by...
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...July, 2012 Oil and Gas Throughout the history of America, many controversial subjects are discussed. The oil and gas industry has become an important part of every person’s day. Whether it’s lighting, driving, or cooking, oil and gas has become a conglomerate in big business. Known as one of the most profitable industries in the market today, stocks fluctuate on a daily basis. The history, current leaders, and financial statistics of the industry all play factors in how the business operates. The history of oil and gas plays a factor in today’s society. Petroleum has always had great demand around the country. By the twentieth century, petroleum lead the world in the product for trade market. Countries such as America, Canada, and Russia began to establish oil fields in the early 1900’s and by mid century, these countries produced up to 3,500 tons of petroleum. The first modernized oil refinery was built in Poland. This oil refinery exported petroleum to counties in Europe and in northern Africa. Competition in eastern Europe for oil was getting competitive. The U.S. took over Europe as world leaders of producing oil in the 1920’s. Factories and refineries began popping up all over the country. The hotspots in the U.S. for oil and gas are Charles 2 Texas, Oklahoma, California, and Alaska. These states to this day lead the country with the most oil and gas produced and their economies are based around the booming economy of oil and gas. Offshore oil welling...
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...Mount Mercy University The New Era Justine Nurre HI 115 Edy Parsons March 13, 2015 In the 1920’s America economy grew greatly. The output from the nation’s manufacturing rose by greater than 60%, inflation was minor and the per capita income grew by a third. These happened because several things like technology. Technology was the most important development in which it helped develop the assembly line. This in turn led to automobiles becoming the most important industries in the nation. Automobiles made it possible for suburban housing and that led to a boom in the construction industry. Another technological gadget that contributed to the economic growth was the radio. The first radios could only send little broadcasts through pulses, but because of the discovery of the theory of modulation the radio was able to transmit music and speech. Many people started to build their own radios to save cost and it allowed owners to stay in contact with one another. Even though the economy was doing so well in 1929, more than two-thirds of Americans lived in conditions that were described as “minimum comfort level.” Half of those Americans were either at or below what was described as “subsistence and poverty.” During the 1920’s, Americans were able to experience successes and failures. Some workers started to see their standard of living begin to increase and others saw techniques that were known as “welfare capitalism.” Welfare capitalism workers still saw...
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...Roaring Twenties 9/9/2011 The Roaring Twenties After World War I there were significant changes that developed socially, economically, and politically. Americans put the war behind them and the roaring twenties became a very exciting time and change was evident. The roaring twenties brought social change for women and youths, while, new technology helped to create a new economic boom. However, the change in politics would unite Americans that was looking for positive changes. Even though most Americans felt modernism was best for America they were meet with opposition from the traditionalist. The roaring twenties opened the door for women who began to enter the work force, gained the right to vote, and a freer lifestyle. In 1920 the 19th amendment passed which grants suffrage to women. Other social changes for women included the way they thought, dressed, and danced. Women began to wear shorter hair, shorter dresses, and some were known as flappers. Whereas, women had many social changes so did the younger generation (U.S History, Para 1). Moreover, the roaring twenties brought tremendous change to society as a whole. With the emergence of modern radio programs and motion pictures they entertained and influence the younger generation. As the new generation began to change there was a clash of values. Values changed from traditional to modern. As more motion pictures were made that depicted a more modern dress, thoughts, and style the younger generation formulated...
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...The Success Stories of The Pioneer, The Giant Killer and The Current Champion of Automobile Industry Submitted By Arun Chandran V B14071 BM-B Contents Contents ....................................................................................................................................................... 1 Introduction .................................................................................................................................................. 2 Henry Ford – The man who divided the notion of modern economic and social system into Fordism and post-Fordism ................................................................................................................................................. 2 Assembly Line ........................................................................................................................................... 3 Vertical Integration ................................................................................................................................... 4 Profit Sharing ............................................................................................................................................ 5 General Motors – The David who beat the Goliath (Ford) ........................................................................... 5 Reorganization of GM into divisions with decentralized responsibility and centralized control ............. 7 Range of products with prices made affordable...
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...of importance and influence.Energy resources are not evenly distributed across the globe, certain factors such as geographic location/relief of the land, economic ability for extraction, technology available and demand for said resource. The Middle East and Africa are the richest regions in Oil, the Middle East, Europe and Eurasia are richest in gas, and North America, Pacific, Europe and Eurasia are richest in coal. Oil is one of the biggest and most widely used fuels for generation of secondary energy (energy produced usually by combusting fossil fuels), the Middle East, OPEC, the oil cartel, has a very key role in determining price by managing supply in its member countries – this has led to price shocks in the past, as well as periods of very low prices. It controls 2/3rds of world’s oil reserves, making it a very powerful player. This abundance of resources, such as 22% of the Earth’s oil reserves being in Saudi Arabia means that they are major players who are very much in control geopolitically as they control access to these resources and are able to dictate cost and supply. Russia is second to Saudi Arabia in terms of oil production, producing just below 12% of the world’s total oil. This is an example of a cartel (OPEC) whereby individual companies for resource production group together in one organisation and therefore hold a great deal of influence and importance in the global energy market and global energy supply. Furthermore they are possibly one of the most important...
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...evenly distributed across the globe, certain factors such as geographic location/relief of the land, economic ability for extraction, technology available and demand for said resource. The Middle East and Africa are the richest regions in Oil, the Middle East, Europe and Eurasia are richest in gas, and North America, Pacific, Europe and Eurasia are richest in coal. OPEC, the organisation of Petroleum Exporting Countries, is a very important player which controls the price and supply globally. It controls 3rd of the world's oil reserves, making it a very powerful player. It is a powerful cartel which has a lot of influence over global energy markets. It aims to regulate oil prices and make the price of oil more stable. However, it is accused of holding back oil in order to increase the price of oil. Dramatic rises in the price of oil from 2002 onwards were partially due to OPEC's reluctance to increase oil supplies. Furthermore, OPEC is important in the energy market as they are able to dictate who they supply too. However, there are some key energy-producing countries not involved in OPEC such as Russia and the USA which may mean they are less important – especially as Russia is major global player in energy supply. GAZPROM, a Russian owned oil...
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...Energy 15 August 2015 The Prize: Epic Quest for Oil, Money, and Power The history of the petroleum industry is a long and enduring journey. It was not started by one single individual, but by the actions of a long list of entrepreneurial figures whom all play a part in this oil journey. Oil was first used as a sort of home remedy by the Indians. They called it “Seneca Oil” and it was used to cure headaches, upset stomachs, burns, to heal wounds and the list goes on. George Bissell was a very important individual in the creation of the oil industry. He spotted a bottle of this Pennsylvania rock oil in one of his professor’s classrooms. He became very curious with the rock oil and believed that it could be used as an illuminant because it was flammable. If this rock oil could become the new illuminating oil, Bissell would become an extremely wealthy man and that became his motivation. In 1854, Bissell gathered investors and hired a professor from Yale, Benjamin Silliman, to analyze all the properties of this oil to determine if it could indeed be used as an illuminant and lubricant. Sure enough, the research proved that rock oil was the next big illuminant and Pennsylvania Rock Oil Company was created in 1854. However it was not a breeze to get this oil. Edwin Drake, a retired railway conductor, was tasked to use his salt techniques to find oil. In spring of 1859, Drake’s driller who was called “Uncle Billy” spotted oil floating at the top of a pipe. This moment was the...
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...Blood” by Paul Thomas Anderson starring Daniel Day Lewis reproduces the early 1900s oil boom in southern California. Daniel Day Lewis plays a man named Daniel Plainview, the very serious boss of a drilling company. After adopting a son early on in the movie for purely business reasons he leads us on the path of innovation and growth within a new industry. His depictions of oil drilling in the turn of the 20th century present endless environmental law issues. These issues have resulted in the regulation of an industry, countless strains on the environment and the contributing factors to many of the United States administrations and their regulation. Without the need of oil to power automobiles and many other gas-powered mechanisms, some of these laws and regulations might not be necessary today. Early on in the film Daniel Plainview is approached by Paul Sunday, the son of a man owning a ranch in the fictional town of Little Boston, California. Paul explains to Daniel there is oil present on his families land there, however we never see Paul again in the film. Daniel goes to the Sunday Ranch pretending to hunt for quail when really assessing the situation. Plainview finds oil and seems to think there is a lot of it so he quickly buys up everyone’s land around the Sunday Ranch. Little Boston a very religious community is not very wealthy and is a very small, almost a non-existent town. Because of the oil however the effects to the town will be beneficial in many ways to the whole community...
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...The History of Offshore Oil and Gas in the United States In looking at the history of offshore drilling for oil and gas, it has been a long and grueling process that has revolutionized the industry in its own. Beginning in the 1890s, oil companies have drilled wells in the ocean, but from wooden piers connected to shore. It wasn’t until the 1930’s, that Texaco and Shell Oil deployed moveable barges that were not considered ocean worthy to drill in the South Louisiana marshes. After years of trial and error, in 1938 the first offshore well was constructed by a construction company known as Brown & Foot for two independent oil firms known as Pure Oil and Superior Oil. The well was built in a field known as Creole Field and was considered the 1st offshore drilling site ever constructed. With this drilling site in operation, business opportunities for independent contractors and large oil companies developed with large research development programs in charge of finding new geological environments. With the vast amount of land being unused under the water, oil filled land would revolutionize the future of oil production, and flourish in record breaking profits. It is predicted that the largest hydrocarbon reserves and production during the next several decades will likely come from offshore drilling in deep water beyond 3,000-foot depths. With the offshore drilling and production industry just beginning it was unclear of just how successful it would be. In fact, many...
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...graduated from high school and excelled in mathematics. John then got married to a woman named Laura on September 8, 1864. She was a very strong christian and the two both spent many hours a week attending church services at the Eric Street Baptist Church. They had five children, four daughters and one son. In 1870, Rockefeller, together with his brothers established the Standard Oil Company in Ohio. This occurred while the petroleum refining industry was still highly decentralized, with more than 250 competitors in the U.S. In the early 1880’s Standard Oil controlled 90% of the U.S refineries and pipelines. Standard Oil kept prices low, which made its products affordable for the average person, also Standard Oil expanded into natural gas production. The Standard Oil Company ranks as one of the most dramatic chapters in the history of the U.S economy. It happened in a period of time when the country was enduring it's brisk transformation from a mainly agricultural society to the greatest industrial powerhouse the world has ever known....
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