StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

International Economic History since 1870 - Essay Example

Comments (0) Cite this document
Summary
Second World War has been one of the most tragic events in the world history; it is still widely regarded as the most devastating war in the human history. However, during this conflict the United States was the only developed country which was capable to give huge financial assistance to the countries involved in it and was the only developed nation which was capable to provide economic assistance to the nations devastated by the war.
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
International Economic History since 1870
Read TextPreview

Extract of sample "International Economic History since 1870"

Download file to see previous pages The plan of new economic financial system produced by the United Kingdom and the USA was aimed to remedy some imbalances of pre war economic financial system of gold standard. Such huge economic problems as the volatility of the floating exchange rates, dependence of the countries on the adjustment mechanisms, had been frequently resolved either by recession and deflation or by inflation and rapid expansion. New conference led to the establishment of the new fund International Monetary Fund that was destined to remedy some imbalances in the world economy.2
New mechanism devised by the countries provided for the system with fixed yet adjustable exchange rates; those countries that experienced payment deficits could borrow necessary funds from created monetary fund, whereas the nations with the payment surpluses could lend funds; the agreement also envisaged the change of the exchange rates if the financial steps taken by the Governments were not able to resolve the problem of the payment deficits.
In sharp contrast with the pre war period, dollar rather than gold was set as the world reserve currency, other nations provided dollar values for their currencies; the value of the currency of other country in dollar or par value was maintained by the national banks of nations. For instance the United Kingdom set $ 2.80 per British pound; all banks of the nations participants of the Fund agreed to maintain the values of their currencies within 1 percent of the par value of the currency. 3
However, the initial success of the newly created financial system depended on the post war economic recovery especially in the European countries; the USA was almost the only developed country that had strong and stable economy at the end of 1945. The economies of most of the European countries had been devastated by the conflict and required large amount of technical and financial assistance to restore pre war levels of economic development. 4 Despite the fact that over 5 billion dollars had been granted to European nations by 1947, most of these funds were spent on some short-term emergencies and no long term plan of economic recovery had been developed. Apart from economic reasons to restore economies of Europe, the plan was also aimed to check the spread of Communism in some of the countries of Western and Southern Europe; as there was a real threat that leftist parties might win the election throughout whole Western Europe, or that some politicians might be tempted to rebuild shattered economy of Europe by communist methods. Naturally these prospects were not greeted with enthusiasm in the United States, neither the USA could allow European continent to succumb to this Communist threat.
Despite the fact that plan was developed with the purpose to check the communism, yet all nations including the countries of the Communist block were invited to participate in the program; latter countries of the Eastern Europe were forced to refuse to participate in ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“International Economic History since 1870 Essay”, n.d.)
International Economic History since 1870 Essay. Retrieved from https://studentshare.org/miscellaneous/1529474-international-economic-history-since-1870
(International Economic History since 1870 Essay)
International Economic History since 1870 Essay. https://studentshare.org/miscellaneous/1529474-international-economic-history-since-1870.
“International Economic History since 1870 Essay”, n.d. https://studentshare.org/miscellaneous/1529474-international-economic-history-since-1870.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF International Economic History since 1870

American History Since 1865

...? of the of the Comment on the Treaty of Versailles: It was not correct to thrust the responsibility of the First World War on one country as all of the great powers of the time were part of the bloodshed. Germans therefore were not treated fairly as almost the same damages were inflicted by the allies but they were saved from humiliation only because they had emerged as victors of the war. The treaty was intended to bar the economic progress and the military activities of the country. It was partly successful in doing so for some years but the future events showed that the treaty was a complete failure. The harsh terms of the treaty instilled a desire for revenge in the hearts of Germans and promoted the rise of Nazism which ultimately...
1 Pages(250 words)Essay

American History Since 1865

... faced by the society was the improper utilization of the natural resources. The land was abundant in natural resources but lack of leadership and coordination among the people had hindered in its proper utilization. The nation lacked a stable currency that could suffice for all the trade and commerce. The competition and monopoly of big organizations had throttled the small scale businesses and caused widespread unemployment. Another major problem faced by the society was the lack of interdependence which caused disorder and delay in economic recovery despite adequate agricultural and industrial activities.... of the of the Contrast the approaches of Hoover and Roosevelt to fixing the depression. Comment on either some of the strengths or...
1 Pages(250 words)Essay

American History Since 1865

Without a doubt, the cold war was an ideological struggle between the Soviets and the United s of America. The Containment Doctrine undoubtedly as suggested by Kennan was an accurate assessment of the Soviets. The theory was based upon the “domino effect,” in which if one nation fell under the cruel regime of communism, others would follow. Kennan’s perspective was to call for a policy that was designed to counter combat the Russians along with defending the interests that were only critical towards USA. In essence, Kennan wanted the army to only combat areas that were vital for the nation to defend against communism, such as Western Europe and Japan. One can safely conclude that the containment policy was somewhat of a success. T...
2 Pages(500 words)Essay

Economic Development since 1945

... of the of the December 30, 2007 Business Economics Question Economic Development since 1945 Market Segmentation plays a key role in the marketing strategy of all successful organizations and is powerful marketing tool for several reasons. Most importantly, nearly all markets include groups of people or organizations with different product needs and preferences. Market segmentation helps marketers define customer needs and wants more precisely. Because market segments differ in size and potential, segmentation helps decision makers more accurately define marketing objectives and better allocate resources. Consumer goods marketers commonly use one or more of the following characteristics to segment markets: geography, demographics...
8 Pages(2000 words)Assignment

International Economic History Since 1870

... economy, it also rendered her ripe to benefit from the knowledge and experience gained by other countries and to build upon it by adapting it to suit the national framework. The period after the IInd World War was characterized by the influx of foreign technology and goods into Japan. The bilateral security treat with the United States created a new international economic order where there was increased interaction with other countries through trade. This period in Japan’s history has been referred to as the dramatic period of “miracle growth” that occurred between 1953 and the early 1970s. Denison and Chung (1976) have analyzed the reasons for this dramatic surge and have concluded that the increase in domestic fixed capital formation...
6 Pages(1500 words)Essay

World History Since 1945

The writers advocate for total relook into the various governmental systems which are both embedded in totalitarianism and aloof to the social realities of ordinary masses. Thus, both books are radical and transformative in scope. The books cry out for change which is aimed at the social and economic lives of the people.
Smith (2010) reckons that Belli’s ‘The Country under My Skin’ is a powerful memoir entailing both love and war. The Nicaraguan, Giaconda Belli, presents quite powerfully, her eye-openness to social realities facing the people of Nicaragua as well as her association with the Sandinistas using the rider of love and war to expose totalitarianism. In the book, she categorically illuminates on her present life with...
5 Pages(1250 words)Essay

American Economic History since the Civil War

... American Economic History since the Civil War In American history, the civil war was a major economic history turning point. The social war created new aspects in terms of the power of government. In addition, the war created a lot of changes in the economic sector of the states and changes in the constitution. Thus, the war had impacts in the industrial sector, financial and the economic history of the state. In history, the civil war destructed and disrupted the society, which was a drive towards the industrialization in the United States. According to Ellinoff, the south had disputes that erupted which later destabilized their economy. The slaves in the south in 1805, contributed profoundly to the labor in the agricultural sector...
1 Pages(250 words)Essay

US History Since 1887

...And in the eyes of the hungry there is a growing wrath. In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage. The 1939 Hollywood movie Grapes of Wrath directed by John Ford is based on the novel written by John Steinback and won the National Book Award and the Pulitzer Prize for fiction, it led its author to win Nobel Prize in 1962. The movie is about the struggle of a family, The Joads, and other people who belonged to Oklahoma, a state worst hit by The Great Depression, an economic downfall which hit North America in 1929,resulting in crashing of stock market and strained banks and other financial institutions which failed by 1933. It resulted in a downward spiral in many...
5 Pages(1250 words)Movie Review

American History since 1865

... American history since 1865 The last half of the 1800s was in deed characterized by intense conflict among the various races and ethnic groups in the country. Each of the groups fought over meanings of citizenship and races. Key among the basic courses of the conflict was slavery. Slavery defined the position of the African Americans among other minority groups in the country. Low pay jobs and low status jobs were left for the African American among other minority groups because the immigrants were typically unskilled, illiterate and very poor (Viault 67). White Americans could not accept the immigrants as they saw them as violent, non- white and doomed to poverty and could therefore not belong to their social class. The White Americans...
1 Pages(250 words)Admission/Application Essay

US History since watergate

...US History since Watergate Essay 1974-80: “Clash of Cultures” And Loss of Faith in Government The loss of faith in government was experienced in America in the 1970s due to various reasons. One of such reasons is the rising of oil prices, which prompted President Jimmy Carter to acknowledge publicly that he had failed as a head of state. He acknowledged publicly that American citizens and the government had a very wide gap that was growing each day. Americans were becoming pessimistic about America’s future, and this made them disrespect the government, churches, schools and other institution. The presidential leadership under the custody of Jimmy Carter was under trial, he tried to convince Americans that though the future and security...
4 Pages(1000 words)Essay

A Short History of Japanese Film Industry

The response generated from other regions is good enough yet questionable. What do these Asian productions have that attracted the international scene? What does the Korean wave really mean? Furthermore, were their productions in the recent years created in the nature that the other regions would appreciate, diverting from the contemporary film style they used to execute locally so that it would sell in the global market?

The transition from traditional to contemporary entertainment in Japan came a few years before the advent of the 20th century with the production of the first Japanese films, Bake Jizo1 and Shinin No Sosei2, both said produced in 1898. The next year, a short production entitled Geisha no Teodora was cr...
9 Pages(2250 words)Case Study

Narrative Voice, Characterization, and Use of Settings in Catcher in the Rye and a Short History of Tractors in Ukrainian

The same is true of any writer. One is trying to get into a unique writing style, often without deliberate inclinations-- the style emerges of its own, -- but sometimes, the narrative voice as a writing technique is consciously employed by the writer. To start with, it is necessary for the writer to select which POV (point of view) to use.

The author’s persona of a fictional narrative can contribute to or mar the success of the story. Much depends on the plot of the story and how the author wishes to develop it. What is the emotional content of the story as a whole and how the individual emotional levels contribute to the total success of the story? There should not be any artificiality about the development of th...
8 Pages(2000 words)Assignment

International Security Studies: Examination

Globalization affects international security in the sense that problems involving terrorism, the environment, religious extremism, weapons of mass destruction, and the economic crises have become more universal and widespread in character (Ivanov “Article”). As a result, these issues pose a greater threat to national and international stability and safety. More lives are now affected by threats to international security; these threats did not seem too ominous before the entry of globalization. Consequently, some extremists justify the use of mass weapons of destruction in order to guarantee their security. And as globalization continues to expand and to grow bigger as a phenomenon, threats to international security are...
7 Pages(1750 words)Assignment

Bahamian History Highlights

The members of the House of Assembly were also elected on an individual basis because no political parties existed. To this end, the Progressive Liberal Party (P.LP.) was formed in October 1953 by some middle-class Bahamians. The group included real estate broker William W. Cartwright, accountant Henry Milton Taylor, journalist Cyril Stevenson and Samuel Carey, a prominent businessman. Their focus was on correcting a number of issues that were affecting the Bahamas at that time.

The Progressive Liberal Party hopes to show that your big man and your little man, your black, brown and white man of all classes, creed and religions in this country can combine and work together in supplying sound and successful political lead...
8 Pages(2000 words)Assignment

Bernard Madoff : A Scapegoat of the Economic Crisis

Darwin was condemned and treated with contempt by the Church for proposing the theory of evolution that linked all living matter in the earth, including humans. In the case of Bertrand Russell, he was imprisoned as a conscientious objector, for expressing his opposition to British participation in the First World War. These are typical examples of people being wrongfully punished when they were guilty of no crime or fraud or misdoing. It would be highly improper to associate Bernard Madoff with the aforementioned luminaries, for he was truly guilty of carrying out the biggest financial fraud in modern history. At the same time, it would be simplistic to classify him as a victim of the contemporary judicial system. The truth, in fa...
6 Pages(1500 words)Assignment

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages(2250 words)Case Study

Economic Analysis on BMW Cars in the US Car Industry

Mini and the 1-series rapidly grew at a much higher rate through 2008. Since the early days of the new millennium, BMW has been one of the first automakers to utilize flexible factories in which more than one vehicle model could be produced at the same time. This enabled the company to meet shifts in market demand more effectively than BMW’s competitors could. BMW challenges to retain its market position in the international market for luxury cars. Many automakers, such as Hyundai with its Genesis sedan or Nissan's Infiniti brand are increasingly successful in realizing higher margins earned on luxury vehicles. BMW is rated behind luxury brands such as Lexus, Porsche, Mercedes, and Infiniti for these reasons

1. Th...
7 Pages(1750 words)Case Study

Islamic Architecture History: Jmeh Mosque of Isfahn

The mosque is constructed in a four-iwan style. An iwan is a chamber-like structure. The four iwans face each other and form a rectangle so that the middle of the mosque is a large open-area courtyard. Undivided space encourages human interaction. Within each iwan, there are elaborate decorations to encourage prayer and worship. The decorative style is referred to as hypostyle. Through the centuries different groups have added structural supports, and decorative elements in accordance with the major architectural style of the time. This is true of other elements of the building, and it functions to give the building an entirely unique meaning. For instance, the walls are composed of varying types of brick designs, “some hist...
9 Pages(2250 words)Essay

The 1846 Invasion into Mexico by the U. S.: The Political and Economic Forces that Brought about the Invasion

Some of the territories led to a war with Mexico from which the United States emerged victorious, expanding its territories and decisively establishing its dominance in North America.

President Andrew Jackson led an example of an administration that set the stage for the way in which James Polk would lead. In 1817, as a still yet military leader, Jackson led the United States into the first of three conflicts with the Seminole Indians from which the acquisition of Florida from Spain would be negotiated and finalized. The situation with Spain was tenuous and should have been dealt with in a diplomatic and cautious manner, but in 1817 President Monroe wrote a letter to General Jackson stating that “Great interests...
8 Pages(2000 words)Article

Project Management of Beijing Capital International Airport T3 Terminal

Some stakeholders can be both driving (positive) and restraining (negative) forces, it depends on how the project will meet their interests. These forces are marked by a dotted line. If changes happen, and the project won’t meet the interests of some of these stakeholders, a vector of the corresponding force will be changed onto the opposite and the force will move onto the opposite part of the diagram.

Each half of the diagram (left and right) is divided into three parts – Low, Medium and High. It defines the size of a force vector and indicates the importance (power) of a given force. Short forces have a low level of power.

Civil Aviation Administration of China (CAAC) – undoubtedly advanc...
7 Pages(1750 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic International Economic History since 1870 for FREE!

Contact Us