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.
Nobody downloaded yet

Economic history - Assignment Example

Comments (0)
In early days, capitalists were viewed as individuals who dominated or controlled the market but this notion later faded as there was a necessity to involve other people…
Download full paper

Extract of sample
Economic history

Download file to see previous pages... The insatiable quest for many profits necessitated the involvement of many workers and extensive labor division. Meaning that employees could work in different locations, anonymous to each other, with the aim of producing various parts for the same commodity. This led to each producer developing a sense of isolation and loneliness, which in the end translated to producers emerging as egoistic. This state of egoism led to a natural state of war with each fighting solely against a myriad others. However, this state of war could only be controlled if there were a central party which every producer would submit to and in turn gain protection from the rest producers. This was explained by Hobbes in his writing where he stressed that it was only after submission to an absolute monarch that individuals would escape the conflict existing among them.
Economic specialization, on the other hand, explained the co-existence of different producers in the market system to help each other survive. There was complete dependence on each other for successful functioning of the market. Economic specialization was important as it provided for a relatively free functioning market where producers assisted each other produce and in turn benefit (Hunt 128). Labor and economic specialization contradict each other in that for the former, producers worked in isolation that prompted a feeling of competition among each other. For the latter, however, producers work to benefit each other. There is no single producer that can exist without the other.
In conclusion, human beings have a desire to achieve pleasure but avoid pain with his nature being competitive and egoistic. Specialization of labor is meant to maximize profits and speed up production in any market system. When producers are left to work independent, there is the development of an ...Download file to see next pagesRead More
Comments (0)
Click to create a comment
They were beaten and doused with water. They were sometimes given snuff. There were a number of sadistic supervisors who would punish children for being sleepy early in the morning. 2. What actions did Cavour and Bismarck take to bring about unification in Italy and Germany respectively?
1 Pages(250 words)Assignment
Review on history
At its core the article seek to understand some of the more complex dynamics behind the ways in which environment has a direct affect on how populations integrate with their surroundings and how these environmental conditions necessarily re-write the rules of how humanity integrates with key environmental changes affect the realities of daily life and settlement.
4 Pages(1000 words)Assignment
The WWI can be considered as the war of the different powers in the world during the 1900’s which included Germany, Russia, Austria-Hungary and the Ottoman Empire. On a holistic view,
3 Pages(750 words)Assignment
termath of the issues became a large hurdle for both Ford and Carter since they had to attempt leading a country whereas the faith to its government was still shaken by the two events. The condition led the political policies of both presidents into several failures. Thus, it
6 Pages(1500 words)Assignment
He therefore came up with the idea of manufacturing kitchenware that would be more flexible to his target market. The name of the company was chosen because it was short and it could be read from both from left to right and from all
1 Pages(250 words)Assignment
The book examines the crest and fall of a great nation with its majestic monarchy. The book explores the comprehensive qualities of the predecessors and on the basis of that the great nation of China started building its
1 Pages(250 words)Assignment
Those in South east experienced a gentler climate and hence resorted to farming. In the plains, they hunted buffaloes and American bison and also grazed. In Northeast coastal regions, fishing was more common due to the presence of
1 Pages(250 words)Assignment
Texas: history of sugar land
The history of Sugar Land can be traced back to 1828 when Stephen F. Austin granted the land to his secretary, Samuel M. Williams, for his exemplary
1 Pages(250 words)Assignment
In the 2nd world war, the US government funded mujahedeen rebels in Afghanistan as part of an American proxy war against the Soviet Union. After the 2nd World War, Europe faced famine and economic crisis. The United
1 Pages(250 words)Assignment
Conduct research on the economic performance of ONE (1) country over the last ten years, from 2004 to 2013, applying the macroeconomic indicators of real GDP, real GDP growth rate, real GDP per capita , unemployment rate and inflation rate to argue whe
This paper mainly concentrates on the postwar period of economic development (1945-present) of Japan. High levels of growth in the last decade were observed in a number of industrial sectors, that include agriculture, automobile mining, and petroleum exploration. Economic trends in these industries, as well as in labor market are considered.
4 Pages(1000 words)Assignment
Let us find you another Assignment on topic Economic history for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us