Essays on Economic History

Before 1790, the American economy started to grow due to Alexander Hamilton’s activity. The most evident developments appeared within the domestic sector. His policy included funding of the internal, foreign, and state debts, as well as the foundation of the First Bank of the US. He also managed to establish a decent credit basis. However, during 1790-1860, such factors as alterations in transportation, communications, and agricultural production lead to tremendous growth in the whole US economy. Agriculturalists, land speculators, and merchants were considered as the main investors in transportation corporations. While merchants and speculators were investing money with ...

The Black Death was a plague that flowed over the continents of the world over a period of , but the major outbreak in Europe was a three year time span from 1347 to 13501; there were further resurgences of the epidemic with complete eradication not occurring until the 19th century. Had the initial devastation of demographics been isolated, Europe would probably have recovered fairly quickly. However, repeated surges of decimating epidemics continued to inflict damage for years. For example, England continued to suffer from large numbers of citizen deaths for approximately another 30 years. The population was depleted by ...

The Tea Act Of 1773

Slide 2 The Seven Year’s War of between 1754 and 1763 and the signing of the Treaty of Paris to end the skirmishes formed the foundations on which tensions emerged between the Thirteen Colonies and the mother country (Zinn, 2005, p.59). Two factors facilitated the emergence of independence sentiments in the colonies as the colonies no longer needed the protection of the powerful Britons: The war brought perceptions of equality between the colonists and the English populace residing in the mother country (Foner, 2011, p.189). Britain was at a disadvantage as it remained with an “enormous debt and ...

There exist many written historical documents that provide information on the history of India. Some of the primary and secondary historical sources on the history of India include the following. For instance, Dharmasutras which was a law book of ancient India, forms part of these sources. The book which is a primary historical document on India contains information on the code of duties for administrators, kings, and the people. The book also provides information on punishment that was meted on those who broke the laws. Kautilya’s Arthasastra is another primary historical source of the history of India. The ...

Country Economics: A Case Study of Malawi

Basic Facts and Information on Malawi Malawi, initially called Nyasaland, is a landlocked sub-Saharan developing country located in the South Eastern part of the Continental Africa, bordering Tanzania to the northeast, Mozambique to the east and Zambia to the northwest with a capital at Lilongwe. It is primarily an agricultural country but this is mainly done on small scale basis and, coupled with its warm and hot climate, it is considered as among the least developed and poorest countries in the world according to the latest World Bank and IMF figures (Chin, 2010). Moreover, with a population density of ...

The Savings and Loan Crisis, or commonly known as S&L, is termed as one of the largest financial crisis in the United States history. The crisis began in the late 1970s, and its impacts on the economy were felt in the 1980s and ended in the early 1990s. Various sources have indicated the causes of the S&L crises. Some of the documented reasons include high and volatile interest rates during the period, the phase-out and its elimination, negative regional economic conditions, and federal and state deregulation of depository institutions. Other reasons include deregulation of the thrift industry, declining regulatory ...

The Savings and Loan Crisis, or commonly known as S&L, is termed as one of the largest financial crisis in the United States history. The crisis began in the late 1970s, and it impacts on the economy was felt in the 1980s and ended in the early 1990s. Various sources have indicated the causes of the S&L crises. Some of the documented reasons include high and volatile interest rates during the period, the phase-out and its elimination, negative regional economic conditions, and federal and state deregulation of depository institutions. Other reasons include deregulation of the thrift industry, declining regulatory ...

Slavery, which the South frequently referred to as its “peculiar institution,” had an enormous impact on American history. Even after 1863 and the abolition of slavery through the Emancipation Proclamation, as well as the 1865 passage of the 13th amendment to the Constitution, slavery continued to have lasting effects on the American people for decades to come. The beginnings of African slavery go all the way back to the first British settlements in North America. However, it was the division of former British colonies into slave states in the South and free states in the North that laid the ...

English

The relationship of war and the economy is a fundamental interconnection of science. The course and outcome of the war, the victory or the defeat of the state are determined by various factors, among which economic factor is crucial. Economics of a country has a decisive influence on the course of social progress and it defines the development of the country no matter how influential the political and other factors are. In this essay, we will try to answer one of the most anticipated questions: ‘What the money is used for?’. That is why for you to understand the ...

They call me Jenny, but my name is Abebi. I live in the cotton fields, in a row house down by the river, where the big house casts a shadow over everything in the evening. It’s in Virginia, outside a place called Jamestown, but I am not of this land, my blood runs in Nigeria. I was born 1813 in the savanna, where the wild beasts roam, and raised where the waterfalls washed the dust from my hair, and smelled sweet and clean. Nothing like the muddy water of the south. I don’t think I’ll ever ...

Ransom and Sutch’s “One Kind of Freedom” is acknowledged as a ground-breaking work in the economic history of the United States of America. In this revolutionary book, the authors have been successful in appropriately applying theory and quantitative methods of Economics to the financial repercussions of Emancipation. If the truth is told, One Kind of Freedom is one of the most exceptional books that present a concrete examination of the economic associations and organizations that substituted slavery. Moreover, the book also scrutinizes the unique conditions that allowed former slaves to participate in the economic sector ...

Economic history is a vast field with no explicit definitions. D.C Coleman defined it as a study of past economic angles of societies in history and how they used their resources such as capital, workforce and land (Szirmai, 11). The study of economic history is vital given the need to learn from past mistakes. Flawed decisions made in the past will be studied and used to better inform decisions made in the contemporary society. Different stakeholders have implemented various programs that enable the study of economic history. One such program was the PBS “Commanding Heights”, which expounded on issues of globalization ...

South Africa

South Africa is one of the esteemed and has been projected for growth in the African continent. The Republic of South Africa is geographically located at the southern part of the vast Africa content neighbored by Swaziland and Mozambique to the east and Zimbabwe Namibia and Botswana to the north. Its coastline extends along the Indian oceans and the south Atlantic. On estimation, it measures approximately 2798 kilometers. The country measures an area of about 1,221,037 square kilometers (Feinstein, 2005). According to the national statistics, the country had a population of 52,981,991 citizens and ranked as ...

Introduction

However, this industrial revolution led to a series of problems both social and economic. Among these problems was the fact that Britain had become the world’s most urbanized country. This meant that almost half of the population of Britain at this time was living in cities. This led to several social problems mainly in the areas of education, healthcare and housing. There were also several economic problems that would face Britain after 1870. The emergence of new industrial powers in Germany and U.S.A meant that Britain’s industrialization was facing a decline. The UK had for so long been referred ...

Section A: Plan of Investigation

Most of the people in the current generation believe that war and essentially investing in the military is good for the economy. This is quite contrary to public acknowledgement and comprehension of the costs involved in case a war takes place. World War II disrupted a lot of systems the world over; America not being an exemption. This paper seeks to elucidate on the extent of damage the American was subjected to as a result of the war. Focus will be given to the macroeconomic implications of U.S policies as a result of the conflict. To achieve a sound conclusion, the paper will lay ...

PART I:

Britain played a crucial role in shaping the economic and political history through the way it colonized various countries in the Middle East and North Africa. The aspects of European imperialism are shown clearly how it influenced the economic and political activities in the countries in the Middle East and North Africa. Several forms of European imperialism were reflected between the period of 1750 to 1914 in countries like Algeria, Egypt and Tunisia. Napoleon brought a great influence and impact in Egypt while French colonization in Algeria contributed to the way various economic and political forces were shaped in such countries. ...

Mercantilism was referred to as the guiding doctrine, which, was behind the attempts of regimes of the early modern Atlantic world that would organize their economic existence. Mercantilism’s aim was to structure the state nation’s financial foundation. Nationalism held the promise of improving political stability and creating a better life for all; this was a substantial improvement over the chaos experienced in the earlier era. Mercantilist policies, therefore, were meant to become the economic means to a greater social and political end. Similar to other economic belief systems such as capitalism and socialism, mercantilism had a few faithful, and many ...

Introduction

The reason for choosing this research is because of the conflicting results about the impacts of European colonization and slave trade in Africa. There have been many problems that the world has encountered such as the World Wars I and II but one of the cruelest events that ever occurred in history was slavery. Slavery is defined as the legal form of purchasing people as properties who can be sold for economic reasons. Slavery in Africa is a subject that has historians debating about the demographic impact it has had in history. This has caused many historians to research about ...

Interest in Economic History

A clear understanding of the origins and effects of all global economic aspects requires an understanding of their historical origin. In order to come up with clear economic solutions to the existing economic problems, a diagnosis of the origins of the problems is inevitable. It brings about the necessity of studying economic history. It has always been my unique philosophy to get to the historical underpinnings of the situation in order to have a deeper and clearer understanding of any phenomenon. To a great extent, the past occurrences define the present and the future possibilities with regards to economic variables. As a ...

Economic History

Economic historians have stressed on the importance of studying economic history to help in bringing suggestions to the problems experienced in the world’s economy today. Economic history helps economists and any other party in general to understand where and to live in this dynamic economic. The current economic and financial crisis has heated up a debate about the state of economics and the training made to the students undertaking the course. State economic awareness and preparedness to the shifting trends equips the learner full knowledge on when and how to apply economic policies effectively. According to Yuichi Shionoya, ...

Annotated Bibliography

Cline, Duane A. Navigation in the Age of Discovery: An Introduction. Rogers, AR: Montfleury, 1990. This book provides an analysis of the tools used by navigators during the early days of the discovery age. These includes the challenges faced by the early navigators in their attempt to understand the rough waters and overcome the challenges of a rough and dangerous voyage.. Koeman, C. Flemish and Dutch Contributions to the Art of Navigations in the XVIth Century. Lisboa: Instituto De Investigação Científica Tropical, 1988. This book provides some of the major contributions of the Dutch to ...

Whenever I want to understand a phenomenon well, I go to the cause of that particular phenomenon. I appreciate the fact that our past has a significant bearing to where we are now and our future destination. Some people argue that it is the present and the future that counts and not the past. As much as that may make sense, it also true that our past helps us learn a lot and do better at present and also in the future. Around fifty years ago, several countries in Africa and Asia had almost the same GDP. At present, some of the ...

Countries are classified under developed, developing and underdeveloped based on their economies. In an ideal world, resource rich countries should be rich and developed, but this is not the case. Resource rich countries in Latin America, Asia and Africa fall either under the umbrella of developing nations or underdeveloped nations. Thus the question of why some countries are rich and others are poor arises. A study of economic history is thus vital to understand and answer this basic question, a study of the economic history also helps the reader learn from the past and design solutions for the future. A ...

Obstacles of Spanish Monarchs during Colonization

The current state of Spain was established by the unification of separate and distinct kingdoms that prospered in the Iberian Peninsula during the 15th century. It emerged through the marriage of Queen Isabelle from the Castile Kingdom and King Ferdinand from Aragon. They initiated the development of the Catholic Monarch and the unification of various territories from the Iberian Peninsula although they separate their institutional identities such as political, social and economic powers. During their expansion and colonization, the Crown of Spain has been one of the most powerful and influential government in the Early Europe. However, it becomes ...

Background of the Country

The republic of South Africa is a country in the continent of Africa located at the southern tip of the continent. It has a coastal strip that stretches along two world oceans, the Atlantic and the Indian Ocean. The coastal strip is 2, 798 miles long. The country has a long history and economic success ranking among the best performing countries in the African continent. South Africa has three capital cities ranked according to the arms of the government (Beck, 2000). Pretoria is the executive capital, Bloemfontein the judicial capital and Cape Town the legislative capital. However, Johannesburg is the country’s ...

Introduction

The term Glorious Revolution refers to the way in which the Parliament asserted its right over monarchy. The Glorious Revolution consists of different events that took place from 1685 to 1689. The events started with the death of Charles II. This event culminated the Bill of Rights in the year 1689. The death of Charles II occurred on 6 February. The Catholic James II succeeded Charles II. The fears of Catholicism and different attempts to exclude James II surrounded the event. Despite these events, the succession occurred successfully. The Parliament of James was loyalist. When the House was recalled, ...

The discovery of gold nuggets in the Sacramento Valley in the early 1848 contributed to the Gold Rush which was one of the most significant events in the history of America in the 19th century. The news about Gold discovery spread fast and wide across all regions and triggered thousands of prospective gold miners to travel by sea or overland to San Francisco and the areas that surrounded that region. Many travelled from far regions and in large numbers which led to increase in population where, the non-native population was estimated to be around 100,000 by the end ...

Response to the reading

The Asian economic history is written in terms of western impact on Asia. The international contact between Asian countries is not considered as significant in understanding the regional economic modernization. The growth of East Asian economic relation, Japanese economic history occupies a central place in the analysis with regard to the interwar period. Since these interactions have received less attention and Japanese-language sources are insignificantly used, the author concentrates on the outside empire to try understanding the Japanese empire well (Sugihara 2005). Trade and other economic interactions between china and japan are significant in shaping regional industrialization pattern. The ...

Introduction

The Golden Age (Long Boom) was an absolutely unique period in West European economic history. During this time period of about 25 years that followed the end of the Second World War, countries of the West Europe expanded their economies at the unseen before rates of at least 5 % GNP increase per annum, which nearly doubled the previously recorded rates of growth. What is more significant, is that this economic growth was also accompanied by the equally strong increase in employment, which made possible for the European countries to experience a state of practically full employment and thus almost the maximum ...

INTRODUCTION

Civil wars usually impose substantial costs on the involved countries economy. The wars are destructive to both human lives and the economic infrastructure. They also undermine the legitimacy of the state by threatening its institutions, the security of property rights, and the rule of law. Still, internal wars bringing tremendous uncertainty into the economic environment, making both public and private investments riskier. The U.S civil war was caused by several issues including regional conflicts between the North and the South, economics forces, and humanitarian concerns for the welfare of enslaved people. This war pitted both sides of the country ...

CS417

Assignment1 Part2 Industrial Revolution Research Industrial Revolution Abstract The Industrial Revolution is famous for developing the industrial advantages that are common today. New inventions helped the textile factories grow and produce cloth. The steam engine was very important for making transportation faster and easier. Ships and railroad locomotives started using steam engines which made a significant change in transporting raw materials and finished products to sell. Building the ships and railroad trains used materials like iron and steel that were important and still are for modern manufacturing of many products. The social impacts from the Industrial ...

Introduction

When the United States emerged from the Civil War, the divisions within its economy showed the reason why the South lost the conflict. Because of the industrialization that had taken place in the North in the first half of the nineteenth century, that side was able to develop materiel more quickly – and to get it to the men on the battlefields where they needed it with more rapidity. The South, on the other hand, was still mostly an agrarian society. While this agrarian dream would fire the imaginations of poets from Dixie well into the twentieth century, it also ...

Movie Review: 200 countries, 200 years-The Joy of Stats

The movie 200 countries, 200 years shows how countries have gotten richer in the last two centuries and basically covers the economic history of the world. The Income per person (GDP) in nearly all the countries in the world has increased as the countries adjust the differences in the cost of living and the inflation levels. I find it interesting how he enthusiastically uses public data and brings out in a sport’s commentator style to prove that the wealth of more than 200 countries has increased over the last two centuries. It is also interesting that a story depicting the ...

Introduction

Nowadays we cannot help but see and hear many troubling things are going on around us. The news overflows with incidents of corruption scandals—of poverty and hunger. The real median income of America has increased only 15% in the last 30 years (Bakan, 2006). That is a .5 % growth each year versus the 1.9 % real GDP growth per year (“A History of Standard Living”, n.d.). How can that be? Where is the American dream? These and other symptoms are a result of the rise and power of corporations. Corporations cause great harm to the society by being amoral, by creating ...

Introduction

The industrial revolution was a period in the 19th century where there were great advancements in the agricultural and technological industries of a country. These industrial advancements had a profound effect on the social and cultural lives of the people. The Industrial revolution is known as a revolution due to the impact it had on the society. The society was transformed from an agricultural society into a manufacturing society (Pollard, 1964). The industrial revolution began in Britain then it spread to the rest of Europe and North America. There was the use of machines in the textile industries and the increased use of coal. ...

Introduction

In their publication (Jean Louis & Frederic Hitzel) indicates that a vast pan-Islamic state of the Turks started its expansion in the small Turkish emirate location within the boundaries of the present republic of Turkey. It extended to North Africa, some part of Middle East and southeast Europe. It had also gained temporal authority over secluded overseas lands in the mode declarations paying of allegiance to the Sultan and Caliph. The publication further indicates that the empire was the pivot of interactions connecting the Eastern and the Western world for six centuries. This Ottoman Empire was an Islamic successor to ...