Results for "Free markets"

Free markets to Fed markets: How modern monetary policy impacts equity markets, Putnins 2022

Identifying with one's own nations and support of its interests Idea that Nation (people) should be the state (country) Nation People who share a common culture, language, territory, and government 1848 Revolutions Wanted liberal change, heavily influenced by ideas of Enlightenment -Democratic -Nationalistic Italy was divided into multiple kingdoms and city states Northern Italy to rebel and unite under King Victor Emmanuel of Piedmont Sardinia Constitutional monarchy Giuseppe Garibaldi leads Red Shirt rebels in the south Too radical and southern Italians join with northern Kingdom of Piedmont and Sardinia 1871 Italy Fully United Italy becomes united under Constitutional Monarchy Prussia and Austria emerge as two major German powers Otto Von Bismarck Chancellor of Prussia Unite German people under Prussian leadership Realpolitik Politics based on reality not morals 1871 German Empire created Ottoman empire Ruled by Turks Extremely diverse Culturally Ethnically Religiously Ottoman empire Muhammad Ali fights war with Ottomans Tie results in Egypt being independent Selim III tries to modernize and reform based on enlightenment Janissaries resist Balkans independence Russia supports fellow Slavs, Serbia effectively Independent 1815 Western Europe helps the Greeks (nationalism/racism) Greece Independant 1829 Ottoman empire loses territory in Europe and Africa to independence movements Ottoman empire known as “the sick man of Europe” Topic 5.3 Industrial Revolution Begins Thematic Focus - Economics Systems (ECN) As societies develop, they affect and are affected by the ways that they produce, exchange, and consume goods and services. Learning Objective  1 Explain how economic systems transformed during the period of 1750-1900. Historical Developments Summarize industrialization and its impact. (see 5.3 reading guide) Industrialization, the increased mechanization of production, and the Social! changes that accompanied this shift, had their roots in several influences. Such as Increased agricultural production and greater individual accumulation of capital. I reshaped Society, increasing world population, shitting people from farm to city, and expanding the production and consumption of goods Thematic Focus - Humans and the Environment (ENV) The environment shapes human societies, and as populations grow and change, these populations in turn shape their environments. Learning Objective 2 Explain how environmental factors contributed to industrialization from 1750 to 1900. Historical Developments Britain’s Industrial Advantages • Mineral and colonel resources - used resources for fuel and manufacturing  • Good environment - rives made transportation cheap • Strong fleet- let resources from colonies to be brought to Britain shortly  • Growth- farmers growing more food meant fewer people had to grow their own • End enclosure movement- The government stopped providing farmland which made people move to urban places  Describe the features of the Cottage Industry • It's a pull-out system • Merchants proved cotton to women who spun it into finished cotton at home • Cotton industries gave women independence •  The cotton industry was slow so people demanded faster processes, due to people wanting faster process it led to faster machinery  Explain the development of the factory system and how it relates to specialization of labor.  The factory system used special machinery was also a new way of making products, it increased efficiency and reduced the need for manual labor. It was similar to specialisation of labor the increase efficiency and productivity in production Topic 5.5 Technology of the Industrial Age Thematic Focus - Technology and Innovation (TEC) Human adaptation and innovation have resulted in increased efficiency, comfort, and security, and technological advances have shaped human development and interactions with both intended and unintended consequences Learning Objective 3 Explain how technology shaped economic production over time. Historical Developments A. Explain the impact of the technologies of the first Industrial Revolution. Factory system technology improved systems and grew technologies to be more efficient  Steam engine Powered trains→ Bigger train industry, used for traveling jobs, replacing sails trade and fast communication around the world   Coal Used to heat up stream from the steam engine but causes pollution  B. Explain the impact of the technologies of the Second Industrial Revolution.   Steel Bessmer process mass produces steel from pig iron making railroads Chemicals Led to the development of new materials and product Electricity Has powered machinery, led to an increase in population/efficiency in factories  Oil Was used for cars/mechanic cars, to power cars focused on maximizing product efficiently  C. Explain how technologies impacted trade and migration.  The change increased the rise of maritime trading empires, People were able to shift from farm to city increasing world Production and expanding the production and consumption of goods Topic 5.6 Industrialization: Government’s Role from 1750 to 1900 Thematic Focus - Governance (GOV) A variety of internal and external factors contribute to state formation, expansion, and decline. Governments maintain order through a variety of administrative institutions, policies, and procedures, and governments obtain, retain, and exercise power in different ways and for different purposes. Learning Objective 4 Explain the causes and effects of economic strategies of different states and empires. Historical Developments As the influence of the Industrial Revolution grew, a small number of states and governments promoted their own state-sponsored visions of industrialization.  Answer the following questions to explain the state-sponsored  industrialization of Japan. a. What was the historical situation of Japan in the 1800s?  The emperor was at the highest point of the social hierarchy, but the shogun and daimyo had the power  b. Describe the threat Japan faced from Western powers. The US came with modernized equipment their ships looked intimidating and forced Japan to open trading ports c. What was Japan’s response to the Western threats? Japan created trading ports with the US  and became more modernized  d. Define MEIJI RESTORATION and identify key changes it made.  The emperor wanted to modernize but the Shoguns and daimyo didn’t want to so the emperor won they made Japan modernized by becoming more Westernized and pro-business Topic 5.7 Economic Developments and Innovations in the Industrial Age  Thematic Focus - Economics Systems (ECN) As societies develop, they affect and are affected by the ways that they produce, exchange, and consume goods and services. Learning Objective 9. Explain the development of economic systems, ideologies, and institutions and how they contributed to change in the period from 1750 to 1900. Historical Developments A. Western European countries began abandoning mercantilism and adopting free trade policies. Define the following terms to demonstrate an understanding of the developing economic systems. ADAM SMITH • Wrote “Wealth of Nations”  • Established the idea of private owner ship of industry and business LAISSEZ FAIRE CAPITALISM • Laissez -Faire “Leave Alone” “Hands Off!” ◦ Little to no government involvement in business ◦ Reduce tariffs on trade(don’t penalize imports and exports with tax=free trade) • FREE MARKETS Mercantilism • Government run companies believing ... • fixed amount of wealth • Wealth = amount of silver + Gold you have • Export more than import • Colonies serves as resources STOCK MARKETS capitalism • No limit to earn wealth • supply and  demand should be bought + sold • minimal govt intervention LIMITED-LIABILITY CORPORATIONS Corporation • Business run by lots of people • Stockholders buy parts of companies • corporations made profit  • if Corporations go out of business stockholders only lost the amount they put in the business C. The development of industrial capitalism led to changes in social life. Explain the changes as they relate to -  consumerism Working class and middle class had time to shop and have money from working in the factories standard of living • The working class who worked at the factories lived in the slums which were crowded, unsanitary condition, dirty  leisure time Companies encouraged leisure activities like baseball because it taught hard work, discipline, teamwork, and rule following  Topic 5.8 Reactions to the Industrial Economy from 1750 to 1900 Thematic Focus - Social Interactions and Organization (SIO) The process by which societies group their members and the norms that govern the interactions between these groups and between individuals influence political, economic, and cultural institutions and organization.. Learning Objective 10. Explain the causes and effects of calls for changes in industrial societies from 1750 to 1900. In response to the social and economic changes brought about by industrial capitalism, some governments, organizations, and individuals promoted various types of political, social, educational, and urban reforms A.  Explain how workers organized themselves to improve working conditions, limit hours, and gain higher wages.  Workers rise up and rebeled against the capitalist business owners and they revolted against the upper class B. Discontent with established power structures encouraged the development of various ideologies, including socialism and communism.  Identify the people and key points of each ideology. KARL MARX & FRIEDRICH ENGELS • German journalist • Appalled at the horrible working conditions in the factories • He blamed capitalism • Big business owner dont care about workers- just for profit $$$  SOCIALISM • New governmet ownership of industry  • Resources distributed all • High taxes support government (helthcare,education,safty net) • Goal of classless society  COMMUNISM • Advanced stage of Socialism • Classless society is achieved • Everyone is equal economically, politically, socially therefore… • No government is needed • No $ is needed  •  No need for national borders = world peace C. In response to the expansion of industrializing states, some governments in Asia and Africa, including the Ottoman Empire and Qing China, sought to reform and modernize their economies and militaries. Reform efforts were often resisted by some members of government or established elite groups. Topic 5.9 Society and the Industrial Age Thematic Focus - Social Interactions and Organization (SIO) The process by which societies group their members and the norms that govern the interactions between these groups and between individuals influence political, economic, and cultural institutions and organization. Learning Objective 11. Explain how industrialization caused change in existing social hierarchies and standards of living. Historical Developments A. Because of changing economic systems, new social classes developed during the Industrial Era. Identify and define the 2 new classes.   1. bourgeoisie 2. proletarians B. The Industrial Revolution had a profound impact on the lives of all people. Describe the impacts on the following groups:  Demographic Group Impact Working class • Strict schedules • Low pay • dangerous tasks Family • families had to move to rural to urban • Families lived in slums which were unsanitary  Children • children had to work in factories • Children worked long hours and lower pay • children faced dangerous tasks to do Women • Women had more independence  • Women had shifted from working at home to factories • Early feminism . C. The rapid industrialization and  urbanization led to a variety of environmental challenges. Identify at least 3 environmental problems created by urbanization and the Industrial Revolution.  Air pollution was happening because of factories using coal to for machinery and causing smoke to pollute the air, water pollution was caused by factories dumping toxins into rivers and deforestation because of the population growing in cities natural lands have to be clearing for housing, factories, roads,  Topic 5.10 Continuity and Change in the Industrial Age The final topic in this unit focuses on the skill of argumentation and so provides an opportunity for your students to draw upon the key concepts and historical developments they have studied in this unit. Using evidence relevant to this unit’s key concepts, students should practice the suggested skill for this topic. Learning Objective Explain the extent to which industrialization brought change from 1750 to 1900. Historical Developments • The development of industrial capitalism led to increased standards of living for some, and to continued improvement in manufacturing methods that increased the availability, affordability, and variety of consumer goods. ◦ Railroads, steamships, and the telegraph made exploration, development, and communication possible in interior regions globally, which led to increased trade and migration. • The 18th century marked the beginning of an intense period of revolution and rebellion against existing governments, leading to the establishment of new nation-states around the world. ◦ Enlightenment philosophies applied new ways of understanding and empiricist approaches to both the natural world and human relationships; they also reexamined the role that religion played in public life and emphasized the importance of reason. Philosophers developed new political ideas about the individual, natural rights, and the social contract. ◦ The rise and diffusion of Enlightenment thought that questioned established traditions in all areas of life often preceded revolutions and rebellions against existing governments

Mixed Economic System and Free Markets

Lesson 2 and 3 Free Markets and Centrally Planned Economics

Mestizo A person of mixed white, indigenous (Amerindian), and sometimes African descent.####Amerindian Original peoples of North and South America; indigenous people.####Indigenous Groups Population of Amerindian heritage in Mexico.####Maquiladoras Factories that produce goods for export, often located along the US-Mexican border.####Coup D'etat A forceful, extra-constitutional action resulting in the removal of an existing government.####Ejidos Land granted by Mexican government to an organized group of peasants.####Sexenio The six-year administration of Mexican presidents.####Clientelism An informal aspect of policymaking in which a powerful patron (for example, a traditional local boss, government agency, or dominant party) offers resources such as land, contracts, protection, or jobs in return for the support and services (such as labor or votes) of lower-status and less powerful clients; corruption, preferential treatment, and inequality are characteristic of clientelist politics.####North American Free Trade Agreement (NAFTA) A treaty among the US, Mexico, and Canada implemented on January 1, 1994, that largely eliminates trade barriers among the three nations and establishes procedures to resolve trade disputes. NAFTA serves as a model for an eventual Free Trade Area of the Americas zone that could include most Western Hemisphere nations.####Corporatist State A state in which interest groups become an institutionalized part of the structure.####Civil Society Refers to the space occupied by voluntary associations outside the state, for example, professional associations (lawyers, doctors, teacher), trade unions, student and women's groups, religious bodies, and other voluntary association groups. The term is similar to society, although civil society implies a degree of organization absent from the more inclusive term society.####State Capitalism A political system in which the state requires all members of a particular economic sector to join an officially designated interest group. Such interest groups thus attain public status, and they participate in national policymaking. The result is that the state has great control over the groups, and groups have great control over their members.####Import Substituting Industrialization (ISI) Strategy for industrialization based on domestic manufacture of previously imported goods to satisfy domestic market demands.####Informal Sector That portion of the economy largely outside government control in which local traditional rulers and political structures were used to help support the colonial governing structure.####Proportional Representation A system of political representation in which seats are allocated to parties within multi-member constituencies, roughly in proportion to the votes each party receives. PR usually encourages the election to parliament of more political parties than single-member-district winner-take-all systems.####Technocrats Career-minded bureaucrats who administer public policy according to a technical rather than political rationale. In Mexico and Brazil, these are known as the tecnicos.####Para-Statal State-owned, or at least state-controlled, corporations, created to undertake a broad range of activities, from control and marketing of agricultural production to provision of banking services, operation of airlines, and other transportation facilities and public utilities.####Camarillas Vast informal networks of personal royalty that operates as powerful political cliques.####Chamber of Deputies, Senate The lower house of Mexico's legislature.####Chiapas Rebellion Southern Mexican state which had large groups of Native Americans, where rebels took up arms and challenged the government, demanding land reform.####Neo-Corporatism A structure in which business, labor, and state engage in bargaining over economic policies.####Dependency A model of economic and social development that explains global inequality in terms of the historical exploration of poor nations by rich ones.####Election Reform Campaign finance restrictions. Laws that limit contributions to campaigns. Critical media coverage, as media is less under PRI control. International watch teams, as Mexico has tried to convince other countries that elections are fair and competitive. Election monitoring by opposition party members.####Vicente Fox Mexico's president since 2000. The first non-PRI president in over seven decades.####GATT General Agreement on Tariffs and Trade. International trade organization that encourages free trade by lowering tariffs and other trade restrictions.####IFE Organizing elections of the president and the Congress of the Union. Registering voters and parties. Giving all parties access to the media. Setting the ceiling for campaign expenditures. Allocating public funds fr campaigns. Recruiting and training citizens to run polling places. Confirming the electoral results.####Import Substitution A government policy that uses trade restrictions and subsidies to encourage domestic production of manufactured goods.####"Mexican Miracle" Described a country with a rapidly increasing GNP in orderly transition from an authoritarian to a democratic government.####Neoliberalism A political orientation origination in the 1960s. A strategy for economic development that calls for free markets, balanced budgets, privatization, free trade, and minimal government intervention in the economy.####Andres Manuel Lopez Obrador Leading candidate in 2018 presidential race####Para-Statals Industry partially owned by the state.####Patron-Client System Powerful government officials deliver state servicing policies and access to power in exchange for the delivery of political support.####PEMEX Mexico's powerful state-owned oil monopoly.####PAN National Action Party. A conservative Catholic Mexican political party that until 2000 was the main opposition to the PRI.####PRD Party of the Democratic Revolution. Mexico's main left-of-center opposition party.####PRI Intended to stabilize political power in the hands of its leaders. Served as an important source of government legitimacy until other political parties successfully challenged its monopoly during the late 20th century.####WTO The World Trade Organization. An international body that enforces agreements that reduce barriers to international trade. Successor to the GATT.####Zapatistas Guerilla movement named in honor of Emiliano Zapata; originated in 1994 in Mexico's Southern state of Chiapas. Government responded with a combination of repression and negotiation.####

(Draft) Chapter 26 - The History of Economics