Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Economy In Mid 1700s Britain History Essay

 


The Industrial Revolution, which began in the mid-1700s first in Britain and later in Western Europe, is the most significant collection of technological, social, and economic changes in human history.


There is a lot of speculation as to why the Industrial Revolution occurred first in Western Europe, especially in Britain. Historians point to a number of factors. Built upon the economic and cultural developments of the Renaissance, Europe was already relatively wealthier than other regions of the world, thus providing the needed capital for investment in new technologies. Europe was full of competition at the time, each country wanting to be the best.


The Industrial Revolution saw through the change from manual labour to mechanical devices due to a multitude of technological advancements. We can see this mostly where steam power took over man power. Applied first in coal mining and textiles, the new techniques, new machines, and new methods rapidly spread into other industrial areas. One of these advancements was the use of steam to power transportation devices. This increased the railroad system’s efficiency and reliability, bringing the nation together into one whole market, introducing globalization and encouraging changes in steel, iron and communication facilities.


This revolution also had a great impact on other sectors in society such as politics and culture. The meaning of culture was changed drastically because of the new job openings and great increase in production of goods. The meaning of a job was evolving for many people, a lot of which benefitted from improvements in family income. On the other hand, the introduction of factories meant the loss of craftsmanship. The repetitive motions of the machines removes all mastery and satisfaction from labour.


Everyone’s life style and standard of living was now based on the technological advancements in society. Now there was a large variety of goods to satisfy everyone’s tastes and needs. Most people could now afford to own their own equipment and tools which were previously only affordable by the wealthier of classes prior to this revolution. Rapid economic growth and spreading prosperity were among the effects of the Industrial Revolution.


The revolution in transportation meant that people could now travel further than ever before. Here a whole new commerce was introduced in the form of travelling. This helps in changing cultural norms and values too as people where mixing with different societies.


The most important virtues where staying out of debt and saving what you earned. This all changed, as after the Industrial Revolution, the main word was consumption. If people didn’t buy goods off store shelves, then the shop owner wouldn’t have to order stock from the factory and so people would be made redundant from the factory and this would close down. The only way to stop this from happening was to teach people how to become intensive customers by purchasing all that say, even if they did not need it.


To encourage such consumption, the advertising industry was created, developing sophisticated techniques suggesting new needs among ordinary people. Often using manipulation, sex appeal, and other emotional inducements, advertisers have been able to get people to purchase objects and services they never felt any need of. And they could be persuaded to throw away still functioning items, in order to buy the "latest, improved" models.


Rider, Christine (1995), ‘An Introduction to Economic History’ South Western


Before this revolution, Britain was a quite different place to the one that exists today. Industrialisation brought with it new types of roads, trains and many other forms of communications which simply did not exist prior to industrialisation. So before the Industrial Revolution it was very hard to keep in touch with people in other parts of the country. News was spread by travellers or through messengers, and goods were distributed largely within the locality in which they were produced.


Because it was so hard to move around, people had to rely upon themselves and their communities to provide the vast majority of the things that they needed. Food was produced locally. Clothing was made locally, making use of animal hides and furs.


Life was, for the bulk of the population, the life of a farmer. By the 18th century the feudal system was long gone, but in its place was a system in which the people were as reliant upon each other and their master as before.


Some people were fortunate enough to benefit from imported goods which came into ports such as London and Bristol in increasing quantities from the Elizabethan age onwards. What was manufactured was done making use of natural elements.


Education was poor, only the rich being catered for by nannies and private tutors. There were of course schools and several universities. These were not for the ordinary man or woman though. Also, politics was based upon land ownership.


As McCloskey said in 1981,


"In the eighty years or so after 1780 the population of Britain nearly tripled, the towns of Liverpool and Manchester became gigantic cities, the average income of the population more than doubled, the share of farming fell from just under a half to just under a fifth of the nation's output, and the making of textiles and iron moved into steam-driven factories.”


http://www.ehs.org.uk/industrialrevolution/PH_index.htm


The industrial revolution certainly saw changes in the economy and society of Britain. There was a huge increase in the numbers of people employed in industrial sectors, manufacturing goods of all kinds, especially textiles, iron goods, and metal wares, for both overseas and domestic markets. More of the working population also came to live and work in towns and cities. A drastic smaller proportion of the working population, which is less than a third, lived in the countryside and got their living from the land.


In the early 18th Century, more than two thirds of the labour force had been in agriculture but now, towns and cities grew at an exceptional rate, due to the high rates of population growth that accompanied industrialisation.


During and after the industrial revolution, population growth and economic growth were able to occur together over the long term, unlike what has happened before, where when there was an increase in population, there was always a decrease in economic growth. However, during and after the industrial revolution, both population and economy were able to grow together.


Poverty walked with disease and death in industrial Britain during the first half of the nineteenth century. Hard working conditions, long hours of working, poor diet, overcrowded poor housing and inadequate sanitary arrangements made poor health and early death inevitable mostly for the lower classes.


One specific city which has been through vast amounts of study was Manchester. A number of important people such the literary man Robert Southey, medical luminaries like Dr James Phillips Kay and social scientists like Friedrich Engels studied these problems.


Housing conditions and the health of the public during the middle years of the Industrial Revolution cannot be separated. However, it was only when a deadly cholera epidemic spread in Manchester's poor areas that Kay and his associates were able to do something to change the housing and sanitary conditions in the inner city. They did not know how cholera spread and were only examining ways of combating this disease. They firmly believed that, only by relieving the conditions that prevailed in the worst city slums would make it possible to cure the instability that was threatening the rest of the city. However, the opportunity to take decisive action was lost. Engels, exploring these same areas of Manchester by night 12 years later, found only little change in these circumstances.


The rapid industrial growth that began in Great Britain during the middle of the eighteenth century which later on expanded to other countries provided a wide range of material for many nineteenth-century writers. The literature of the Industrial Revolution includes essays, fiction, and poetry that respond to the changes which occured in technology as well as the labour and demographic changes. Having observed the adoption of such new technologies as the steam engine and other types of new technology, the Scottish intellectual Thomas Carlyle described this period as the "Mechanical Age". The Industrial Revolution literature gives us a range of literary genres. Social critics such as John Ruskin, Henry Adams, and Carlyle examined the cultural changes that accompanied the machine. On the other hand, novelists ranging from Charles Dickens to Rebecca Harding Davis and Herman Melville provided a realistic treatment of modern working conditions. Moreover, poets such as William Wordsworth and Walt Whitman saw to the artist's role in such a world.


By the close of the eighteenth century, the early romantics began to view the emerging technology in a different light. A case in point is that in Friedrich Schiller’s ‘Letters upon the Aesthetical Education of Man’ (1795), argued that the machine was a threat to individual freedom and a destructive force on contemporary culture.


The issues surrounding the relationship between technology and culture have continued to interest critics and writers well into the twentieth century. Contemporary writers also look to literary figures of the Industrial Revolution as they address similar concerns of the role of the machine in today’s society.



This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com

Political Economy In Trade Related Participation History Essay

In order to examine the role of pre Hispanic political formation in of the Philippines and how it related to political economy, trade related participation, political transformation and social rankings are considered.

Chinese historical records are the world’s most comprehensive and complete written evidence of what the world has been since 1700 B.C. – 1046 B.C. It has been the works of Chinese historians and scholars who have documented China’s history and its association with other neighboring countries. Most commonly, China has traded with countries in Asia and the Southeast Asia, including the Philippines and has noted important aspects of Philippines trading system back to the pre Hispanic period. Coinciding with this claim, there has also been historical records of Philippines early people who engage themselves in trading with foreign countries such as China. So there has been a concession between China and Philippines that these two countries are openly trading during the pre Hispanic times. One notable feature that the Chinese historians have said about the Philippines is that the foreign trade system during that era has been strongly influenced by socio political system.

Since there has been no formal entity of a sustained and institutionalized state in the Philippines during the pre Hispanic period, tribes and chiefdoms are eminent to take that governing form. Philippine historical accounts says that in a social hierarchy of either a tribe or a chiefdom, only the people who belong to the elites are allowed to engage in trading. By this, we can see a highly centralized form of system wherein those in the higher class gets more privileges than those who belong to the lower classes of the social hierarchy. This denotes a very bureaucratic socio political system wherein people are bounded and restricted by the set of options provided only in their classes. The people who belong to the lower classes are restricted in foreign trade system but can engage themselves in local trading such as inter tribal or tribal to tribal trade system. In order for them to partake of the foreign commodities that are only the elites have, they will offer services to them in the form of working for their field, errands etc. in exchange for a small quantity of what they have asked.

Another feature that the Chinese traders and historians have noted about the Philippines is that most of its commodities are ornaments made out of gold, silver and copper. These were the primary merchandise that the Chinese would want to acquire. In exchange for these precious metals, garments and useful items are traded for the Philippine merchants. Also, included in the trade were animals, fruits and vegetables that are products of both countries. It is noticeable that smart trading exists during that time because people trade something for what they need. Survival has been the focal point of trading for the lower classes because it is a way for them to acquire what they need in everyday life. Hence, on the part of the rich and the elites, they trade because they wanted to get more out of what they have already gotten.

The type of socio political system during the pre Hispanic period has utterly favored the interest of the elite and the ruling class. It is only then by the time that the Spaniards have colonized the Philippines where there has been a clear distinction of what are the state and a society’s role in development. The evolution of the socio political system in the Philippines has been a long process toward the end of the pre Hispanic period.

Chiefdom is a kind of complex society wherein there is a varying level of centralization and is governed by a sole person known as a chief. Often described as a social organized group, it takes form of neither a simple tribe nor a complex state; rather, it is “an autonomous political unit comprising a number of villages or communities under the permanent control of a paramount chief” (Carneiro 1981: 45). Since inequality and centralization of authority exists in chiefdom, there are at least two divisions in their social classes, primarily the elites and the commoners. In some places, chiefdom has a social hierarchy with three to four divisions. The affluent people or those who have great influence, power and prestige in chiefdom belong to the elite class and everyone else fall in the category of a commoner. Although the distinction between classes is highly recognized in chiefdom, an individual might change social classification during his lifetime by extraordinary behavior. If a commoner, by chance get to have a fortune by any means, he will then be regarded as elite. Same as if a commoner would contribute for the betterment of the chiefdom in form of wealth or prestige, his social class will then be changed into elite. In line with this, the ruling class who also belong to the elites often than not inherit the rights to become a chief. A kinship runs in chiefdom for as long as there is a legitimate heir to the position. Chiefdom is generally composed of a central community where the chief lives and is surrounded by a periphery of smaller subsidiary communities who all recognize the authority of the sole chief.

Looking upon Philippine chiefdom during the pre Hispanic period, these characteristics were very prevalent. A number of chiefdoms have been recorded by historians namely the chiefdoms in Ifugao and Kalinga in Northern Luzon, Hanunoo in Mindoro Island, Sulod in Panay, Bukidnon, Maranao, Magindanao, Bagobo, Manuvu, Tiruray in Mindanao and Tausug in Sulu Archipelago. Ethnographic studies were focused mainly on the region of Mindanao where the biggest concentration of chiefdoms is eminent. Mindanao is considered as the country’s biggest island with a geographical specification of mountainous region and is home to indigenous tribes and ethnic group. Since the area is abundant with rich land resources such as fruits and vegetables and minerals like gold, silver and copper, the fight for territorial power amongst tribes is widespread. Tribes with more population, often than not, has the power to conquer a less populated tribe which will then be an extension of its territory. With the accumulation of more less powerful tribe, the winning tribe can now form chiefdom. Under the leader tribe, the sub tribes are ought to make and produce tributes to it. They must adhere to the paramount chief for them to be able to survive because when a sub tribe has not able to contribute something to the leader tribe; this calls for the expulsion of the sub tribe and banning them to consume resources within the territorial boundaries of the chiefdom.

Same as to the other parts of the Philippines, chiefdoms exhibit similar characteristics. It is only in Mindanao that chiefdoms are frequently discussed by researchers because unlike in the other parts of the country, Mindanao chiefdoms’ are mixed of Muslim and non Muslim tribes. Issues between Muslims have been long fought of even before Christianity has paved its way to the Philippine soil. Muslim chiefdom in Mindanao tends to fight non Muslim chiefdom because since then, they would want to separate themselves to the whole of the country, making the island independent and Muslim owned. This added more enthusiasm to the researchers because chiefdom has not only been the fight to conquer and expand territories but rather it is a struggle to show supremacy of beliefs, traditions and customs.

There have been a number of similarities between tribal and chiefdom in the Philippines that is why both are commonly mistaken to one another. Previous discussions have illustrated the characteristics of chiefdom and how it is different from a tribe. Chiefdom is distinct to a tribe because it is rather a collection or a group of tribe. But the system that runs between these two is almost the same. The political structure has been similar, although there has been some distinction between the social hierarchical systems. Through the years that chiefdom has been the governing body in the pre Hispanic Philippines, it has evolved itself from being a simple chiefdom to a more complex one and this is because of the factors that emerged along the process.

During the times of early chiefdom, it is characterized by a central community that is surrounded by other smaller communities who adhere and is under the prime community which is led by a sole chief. Through the years, since there is a number of chiefdom, there came a time where a complex chiefdom is formed. Compared to a single chiefdom, a complex chiefdom is a group or a collection of chiefdoms which is governed by a paramount chief. This paramount chief is the head of all the chiefs under the complex chiefdom. It means that the less powerful chief of certain chiefdom is under his control. The reason why this so called complex chiefdom existed is because of the rising number of small or weak chiefdom in the area. There has been power struggles between chiefdoms and as a result, they are expanding their territories, provoking a battle against the other chiefdoms. Usually, the chiefdom that succeeds is the one that has been a powerhouse from the start, meaning they have a numerous population, resources and the capability to launch an attack with a great chance of succeeding. The losing chiefdom in return will have no right to abstain the authority of the winning chiefdom, rather it must compel with it for as long as it is under its control.

Chieftainship abilities and characteristics are a very crucial part in deciding who would be is the next chief in chiefdom. One has to be from the elite class or those who have high reputation, wealthy and of a noble kinship. He must also be a committed leader with a strong will of sustaining his chiefdom. The possession of intelligence is important not only in tactics in warfare but also in running the community. Since he governs the chiefdom, he has the sole political power. The right to make laws and pass them is under his control. The power to make verdicts on cases is also his authority. In short, the chief has embodied himself the power of the legislature as he makes the laws of his chiefdom, executive as he pass the laws that he had made and the judiciary as he decides on what is right from wrong. But he chief cannot make this all by himself, he has a board of trustees who serves as his advisers on issues related to the running of the chiefdom and they belong to the nobles, particularly the chief’s relatives or in line with the kinship.

We can infer from the descriptions that were stated above that the political structure in chiefdom has been centralized, not only in the form of the complex one but also to the single and simple chiefdom. It is also noticeable that the supposed characteristics of a chief greatly resemble an ideal leader that chiefdom, community or a state would want to have. This has been the ground in choosing a qualified leader in the present and ever since the time of the pre Hispanic Philippines.

The political characteristics that a chief must obtain to have a well rounded governing power in his chiefdom has been stated in the previous section. But how does the chief get hold of his power and position to the society? This has been the question that the researchers have focused on and found a system that is quietly similar to the one that the monarchs in United Kingdom and other monarchs in the world who have adopted the same ideology.

It is clearly emphasized that before a chief can be placed on his position, he must have a noble kinship; therefore he must be from the ruling class or the elite. If for an instance the chief has died, the next in line would be is from his direct descendant, his son. We can see in here that only male can be a chief in chiefdom. For example, if the chief had died and he does not have a qualified male child but rather a female one, then the thrown will be directly given to his brother. There has been an instance in the Bagobo chiefdom wherein the chief died and he does not have a qualified son, brother or nephew left to take the position, then the kinship lost its power in line even if there were still females in their clan. So to retain the power in the clan of the chief, every male descendant must have at least one male offspring in his family. Also, since they are form the elite and more powerful class, male can marry a number of wives to ensure that someone has to seat form the thrown that will come from their clan.

The kind of hereditary system in the political cycle that has been inculcated in the system of chiefdom in the Philippines has been eminent not only in Asian countries who adopted governing systems with kings and emperors but also to the western early civilizations. It only connotes the idea that there is a tendency on people on early times to garner so much power in their hands to prolong their sovereignty in their territory.

Social ranks in Philippine chiefdom like the political leadership roles were traditionally fluid and dynamically created in constant interplay between genealogical manipulation and status competition through feasting, strategic marriages and trading. Archeological evidence is brought to bear on the evolutionary dynamics of Philippine social hierarchies which focuses on burial and settlement remains dated from the two millennia preceding European contract. The available settlement and burial evidence is consistent in recording increasing social status and wealth differentiation over time during the two thousand years of complex society formation in the Philippines (Junker, 2000). The archeological evidences for evolving wealth difference is meager for all periods of complex society development in the Philippines since pre Hispanic social organizations has not been a traditional focus of the archeological investigation.

Several studies suggested that the hereditary social ranks characteristics of chiefdoms can be recognized archeologically not only through differential access to objects of wealth that act as status symbols in domestic context but also through analyses of variation in mortuary practices (Beck 1995; J. Brown 1979; Chapman, Kinnes and Randsborg 1981).

In the case of the Philippine complex societies, there is a wide range of ethno historical literature that helps us evaluate what aspects of mortuary ritual and death related social exchanges might and might not be reflected in the material treatment of the deceased. In one of the discussions of Metacalf and Huntington on the role of mortuary ritual in complex societies of Southeast Asia (1991: 135 – 144) notes that extreme public display and wealth must be seen in the context of political systems with “cosmic pretention and chronic competition.” (p. 136)

In the Metal Age cemeteries, we could see that there are generally two discernable burial ranks which are then characterized by sharp distinctions in both the quantities and the quality of grave goods and mortuary treatment rather than graded differences along a relatively continuous scale. Most of the Metal Age burials are secondary urn burials or cremations but the catch is that there is a clear dichotomy between the exceptionally rich burials that elaborate earthenware vessels, metal goods and shell ornaments as grave accompaniments and the poor burials with few or even none of these goods. Moreover, the burials from the Early and Late Porcelain Period are considered more complex since it has many degrees in the diversity and numbers of grave accompaniments as well as in the form and labor requirements of the burial chambers.

Philippine chiefdoms become involve in long distance trade with China and other Southeast Asian political organizations. Chinese porcelain and other luxury goods from outside the archipelago have become the key symbols of social status and political power for the Philippine chiefly elite. The importance on overseas luxury goods in the Philippine political economies corresponded with the emergence of more organizationally complex and territorially expansive chiefdoms and kingdoms before the Spanish contract.

As a local demand for porcelains and other exotic goods it drastically expanded in the Philippines and a number of alternative sources for forest product exports grew after the fourteenth century and foreign traders shifted towards a mass production strategy in which massive cargoes of cheaply made porcelains are traded widely all over the archipelago.

Philippines restricted access to foreign luxury goods and maintained their social values as exclusive as the elite prestige goods through controlling the geographic venue and the social context of exchange. On the other hand, foreign trade monopolies are created by developing the port facilities and economic base in order to attract foreign vessels and then serve as profitable trade partners. Moreover, the Philippine chiefs that depended on foreign derived wealth as a major source of power and prestige only relied on a number of institutionalized mechanisms just to make sure that the access of these goods are exclusive. Philippine rulers also developed a strategy to monopolize foreign trade and to keep the foreign goods from circulating the alliance networks of their political rivals.

The additional production needed for sustain the chief’s household and elite followers are obtained not through direct ownership of lands within a fixed geographic territory but instead through the development of clientage relationships that granted a chief the right to collect agricultural tribute from political subordinates. Philippine chiefs in general did not strengthen additional production through investment in hydraulic systems, large-scale terracing, or other technological improvements but instead grabbed additional labor through increased slave prowling, expanded tribute flow through increasing the labor burdens of subordinates and encouraged agricultural colonization of adjacent forest lands.

The textile industry is one in which the Philippines has long acted as an exporter. The early Spanish noted that the Filipinos knew had to raise, spin and weave cotton and silk. Lace-making and embroidery were widely practiced often with superb results. Besides cotton, abaca fiber and banana leaf fiber was also used. The native silk was known as pina. The woven works of the Philippines, particularly from the Muslims and animists of the South are now receiving long overdue attention from the international community.  

In traditional Philippine society, the importance of specialists with particular skills was emphasized by the bestowal of the title 'panday,' in recognition of mastery of an art, an applied science. They performed unique roles in their communities' struggle with nature; they attended to the birth of valued functional and ritual objects. In western Mindanao languages, midwives are called panday. Skills in various materials were specified: there was the panday-anluwagi (builder-carpenter), panday-bakal(blacksmith), or panday-ginto (goldsmith).

Natives of gold mining areas would have had several options, as shown by the career of contemporary artisan and National Craftsman Arcilla of the town of Paracale, in the province of Camarines Norte. The name of the southern Luzon town is derived from kali, or gold pit-mining. From a landowner he acquired mining rights, for a fixed monthly rental plus 10 per cent of the metal yield. He opened the land to diggers on condition that he would have first option to buy the gold. At the same time, he trained and organized goldsmiths and paid a fixed rate for their labor, based on the weight of the finished pieces. He sold raw material for a marginal gain, and finished pieces in Manila for a larger profit. Even the landowner's share is worked by him. He has bought his own parcels of gold-bearing land; to be worked on later similar arrangements may have been entered into in prehispanic times.  

Brumfiiel, Elizabeth, and Timothy Earle. 1987. Specialization, exchange and complex societies; an introduction. In E. Brumfiel and T.K. Earle, eds., Specialization, Exchange and Complex Societies, pp. 1-9. Campbridge: Campbridge University Press.

Carneiro, Robert. 1981. The chiefdom as precursor state. In G. Jones and R. Krautz, eds., The Transition to Statehood in a New World, pp. 37-39. Campbridge University Press.

Clark, John E., and William J. Parry. 1990. Craft specialization and cultural complexity. Research in Economic Anthropology 12:289-346.

Geertz, Cliford. 1973. The Interprepation of Cultures. New York: Basic Books.

Gullick, John M. 1958. Indigenous Political Systems of Western Malaya. London: Athlone Press. 1st edition.

Hall, Kenneth. 1985. Maritime Trade and State Development in Early Southeast Asia. Honolulu: University of Hawaii Press.

Junker, L.L. 1990a. Long-distance trade and the development of socio-political complexity in Philippine chiefdoms of the first millennium to mid-second millennium A.D. Ph.D. dissertation, University of Michigan, Ann Arbor.

1990b. The organization of intra-regional and long-distance trade in pre-Hispanic Philippine complex societies. Asian Perspectives 29 (2): 167-209.

Peregrine, Peter. 1991. Some political aspects of craft specialization. World Archeology 23 (1): 1-11.

Winzeler, Robert. 1976. Ecology, culture, social organization and state formation in Southeast Asia. Current Anthropology 17: 623-624.



This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com

Politics And Economy Of Nineteenth Century Latin American History Essay

History » Politics And Economy Of Nineteenth Century Latin American History Essay

Latin America, so called today, was originally home to great civilizations such as the Aztec, Maya, and Inca. However, by the end of the sixteenth century, these civilizations were wiped out and most of Latin America was colonized by Europeans, particularly the Spanish and Portuguese who speak the Latin-languages. And a long time passed before this region saw light. Inspired by the American and French Revolutions, and due to the weakening of Spain and Portugal, Latin American nations began independence movements in the nineteenth century. Starting with Haiti in 1804, most nations gained independence by 1825. This was to bring immense hope to the people of Latin America. But instead, despair was brought and consequences of independence were severe. The economy and politics were tremendously instable and became even worse than the colonial period. Serious economic setbacks occurred and foreign intervention increased as outsiders looked to take advantage of the troubled region. Dictators emerged due to political instability and civil wars for power-control arose.

Independence resulted in free trade and access to the international capital market. These would be key factors in advancing Latin America. However, due to lack of experience in the world of trade and weakening of Latin American economic institutions from prolonged wars of independence, its potential growth was hindered. Furthermore, the region lost its main trading partners, former rulers Spain and Portugal, who provided them with much of the export income. The Spanish and Portuguese also directed and protected the economy of Latin America but there was no legitimate character within the continent to replace them. Trade among the newly independent nations decreased as well because of tariffs imposed on each other's imports. The Latin American nations had no choice but to ask for help from foreign nations, specifically Great Britain and the United States, because foreign investment and sale of exports was all the Latin American nations could rely on for national income. The foreign powers gratefully accepted as they wanted to establish Latin America as its new market in order to sell their products. However, the Latin Americans had more to lose than gain from this trade. Despite tariffs imposed on finished products from Great Britain and the United States, these imports were far cheaper than domestic products because the costs of producing domestic finished products were higher as Latin American nations lacked efficiency. Furthermore, the products Latin America exported was mainly raw material and each nation had only one or two types of these to export. What's even more troubling was that the production of these raw materials was also a difficult process due to lack of skills. Silver production decreased by fifty percent in Bolivia and seventy-five percent in Mexico compared to production before independence. Foreign investment was also no help since there was a limit to how much the United States and Great Britain could give to the numerous nations of Latin America.

The political situation in Latin America was far worse than the economic situation. Except for a few nations such as Chile and Uruguay, no nation had had a stable regime. This was mainly because the nations were new ('f 15). They were only beginning to gain their identities as a nation with new names, flags, and national anthems. Furthermore, there was no established border between these countries and there were ongoing battles between nations to gain more land. The political parties of most nations were divided into the conservatives, who wanted preservation of traditional social hierarchies to guarantee national stability, and the liberals, who wanted reform of economy and individual initiative to develop their nation. These parties struggled against each other for power and control in their nation, causing civil wars in some nations. Due to these conflicts, some states such as the Gran Colombia and the Federal Republic of Central America collapsed and divided into several different nations.

Political-military dictators known as caudillos emerged as a result of the economic and political crisis. These caudillos were formerly top class officers of armies that came into existence during independence wars. Evidently, they were deemed heroes by their people due to their feat in gaining independence. However, they wanted compensations for this deed and did not disband their armies in order to influence the course of political development as they were more stable and organized than other institutions. Eventually, leaders of these armies rose to the highest status within their nations. But this turned out to be catastrophic as they did not have enough knowledge about how to run a nation and did not care about the lives of their people. All they wanted was power and wealth. Thanks to these 'great' leaders, the first decades of the newly formed Latin American nations were marred by militarism and the nations experienced great setbacks despite gaining the freedom they yearned for so long. Even today, most of these nations have trouble overcoming the problems that existed for so long. Not a single one of these nations are considered developed and their future still remains cloudy.



This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com

Economy Politics

1.Purpose

The main purpose of this report is to show the importance and the role of the indirect economic

effects of tourism on growth and GDP, employment and foreign trade.

2. Theory

Tourism’s role in th economy is often perceived as being limited to the hospitality industry

such as cafes,hotels and restaurants and outbound and inbound travel angencies and carriers,

which form the leading service sector in many countries.However, the economic impact of

tourism is much greater,since many inputs are needed in order to produce tourism and leisure

services,spanning the whole range of farm agrifood and indrustrial production,including the

production of capital good as well as constuction and public works.

3. Methodology and Data used

Highlighting these indirect impacts of tourism is regarded as a priority by the 20 countries and

the World Tourism Organization,which has produced methodological toos such as Tourism

Satellite Accounts.Assessing the economic impacts of tourism helps to inform the conduct of

stimulus policies in responce to international economic and financial crises.It shows that tourism

can become a driver of recovery,fostering stable and sustainable economic growth.provided that

sectorial support policies are implemented taking the central role of tourism into account.

4. Conclusions

In conclusion,the report puts forward options for improving the tools for meansuring the indirect

impacts of tourism   and proposes the introduction of internatioanal   comparions in all the 20

countries.

5. Critics

The first part looks at currently available methodological resources for measuring the indirect

impacts of tourism on the economy.It highlights the central role of calculations based on

Tourism Satellite Accounts and shows how multiplier-based analysis can give an overall...

This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com

Child Labour in the Global Economy

35

Child labour is the nuisance of civilization and is seen in almost all countries around the world. It remains one of the major issues in our global economy and arises three of the eight ethical principles.

Children are viewed as cheap, controllable and renewable labor resources by businesses and individuals. Grounded on International Labour Organisation (ILO) statistical evidence from 100 countries, businesses and individuals directed approximately 73 million children of the age group 5 to 14 years to work in factories and other unsafe places for a minimum wage (ILO, 2002). They worked daily under exceptionally severe, unhygienic and also together in one small room and made to work 16 hours a day (Bahree, 2008) without any necessary facilities for food, water or hygiene. The ILO’s SIMPOC estimates that a total of 8.4 million children are embroiled in child trafficking - either forced or welded labour; soldiers, prostitutes or involved in pornography or illegal activities (ILO, 2002).

The reason why children are contained in dangerous types of child labour have been given plenty of academic thought, but logically all found evidence is limited. The dignity of children stayed minimal and abandoned. They were shown no self-respect, had no advantage of human rights and were shown no pride in themselves.

Child labour endures to be one of the foremost social matters. Children have historically been an incredible large part of the industry force. There are numerous cases all over history in which children have been forced to agree or influenced into child slavery in the global economy.



This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com

Economy

Basics of Engineering Economy
Leland Blank, P. E.
Dean Emeritus American University of Sharjah United Arab Emirates and Professor Emeritus Industrial and Systems Engineering Texas A&M University

Anthony Tarquin, P. E.
Professor Civil Engineering University of Texas—EI Paso

BASICS OF ENGINEERING ECONOMY Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 2 3 4 5 6 7 8 9 0 Blank/Farquin 0 9 8 ISBN 978–0–07–340129–4 MHID 0–07–340129–3 Global Publisher: Raghothaman Srinivasan Executive Editor: Michael Hackett Director of Development: Kristine Tibbetts Developmental Editor: Lorraine K. Buczek Executive Marketing Manager: Michael Weitz Senior Project Manager: Kay J. Brimeyer Senior Production Supervisor: Sherry L. Kane Associate Design Coordinator: Brenda A. Rolwes Cover/Interior Designer: Studio Montage, St. Louis, Missouri Compositor: Aptara Typeface: 10/12 Times Roman Printer: R. R. Donnelley Crawfordsville, IN (USE) Cover Image: Transportation Market: © Simon Fell/Getty Images; Balancing Time and Money: © Randy Allbritton/Getty Images; Freeway Interchange: © PhotoLink/Getty Images; Construction: © Digital Vision/PunchStock; Offshore Oil Rig: © Royalty-Free/CORBIS Library of Congress Cataloging-in-Publication Data Blank, Leland T. Basics of engineering economy / Leland Blank, Anthony Tarquin.—1st ed. p. cm. Includes indexes....



This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com

Impact of Globalization on Indian Economy

The novel Tale of Two Cities of Charles Dickens begins with a piquant description of the contradictions of the times: It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; it was the epoch of belief, it was the epoch of incredulity; we had everything before us, we had nothing before us

At the present, we can also say about the tale of two Indias: We have the best of times; we have the worst of times. There is sparkling prosperity, there is stinking poverty. We have dazzling five star hotels side by side with darkened ill-starred hovels. We have everything by globalization, we have nothing by globalization.

Though some economic reforms were introduced by the Rajiv Gandhi government (1985-89), it was the Narasimha Rao Government that gave a definite shape and start to the new economic reforms of globalization in India. Presenting the 1991-92 Budget, Finance Minister Manmohan Singh said: After four decades of planning for industrialization, we have now reached a stage where we should welcome, rather fear, foreign investment. Direct foreign investment would provide access to capital, technology and market.
In the Memorandum of Economic Policies dated August 27, 1991 to the IMF, the Finance Minister submitted in the concluding paragraph: The Government of India believes that the policies set forth in the Memorandum are adequate to achieve the objectives of the program, but will take any additional measures appropriate for this purpose. In addition, the Government will consult with the Fund on the adoption of any measures that may be appropriate in accordance with the policies of the Fund on such consultations.

The Government of India affirmed to implement the economic reforms in consultation with the international bank and in accordance of its policies. Successive coalition governments from 1996 to 2004, led by the Janata Dal and BJP, adopted faithfully the economic policy of liberalization. With Manmohan...



This is Preview only. If you need the solution of this assignment, please send us email with the complete assignment title: ProfessorKamranA@gmail.com