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Political Economy - Case Study Example

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This paper "Political Economy" discusses causes for the global economic downturn that was many and unanticipated. It was in fact, the rivalry of great economies of that era and substantial policy of undermining the manufacture and financial market of the contemporary…
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Political Economy
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Download file to see previous pages The American economy, also, is no exception to it. For instance, after World War-2, America emerged as an economic giant because of rapid progress in different fields, but hardly a decade had passed that The US confronted the Great Depression. It was asserted that stock market collapse was the major cause of the great depression and “as the consequence of this stock market collapse, an unparalleled depression overtook the United States” (Majumdar et al 234). The way America made achievements during the era of industrialization and during World War-1; she could not withstand stock speculation and its ultimate consequences.

Leading points for the United States’ rise to power. America with its progressive policies marked its existence as an economic giant and witnessed an economic boom once again after a decade of the Great Depression was over and particularly in the post World War 2 era. Theleading points that led to the rise of the American economy initially include many things. To begin with, America gave suppleness in taxation. It made taxation as easy as possible. Secondly, it applied theories of monetary pull and occupied employment financial plan. Thirdly, it included in its economic policy to include quantitative targets for the economy. Fourthly, a growth model of the economy was put into practice rather than an earlier cyclical model which allowed just transactions of the same. Finally, substitute for the impression of being without a job as a structural predicament by a consciousness of a low down combined stipulate.

Mechanisms that Immanuel Waller stein credits with weakening US power. The mechanisms that Immanuel Waller stein consider for the weakening of American superpower are also various. In this pretext, to begin with, geographic expansion of the European world-economy to include the whole of the globe shook the US economy. In the second place, the expansion meant the elimination of other world-systems as well as the absorption of the remaining mini-systems. It also caused disturbance in United States’ economic sphere.  ...Download file to see next pages Read More
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