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mathias vier

on 16 April 2010

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Transcript of Capitalism

CAPITALISM An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. Prior to late 19th Century Mercantilism Spanish Colonial System Mid-Eighteenth
Century Wars American War
For Independence British-French
Rivalry African Slave Trade Imperialism Colonization Whether for economic, nationalist, or humanitarian reasons, more powerful nations have often interfered with the affairs of weaker nations
Birth of Classical Economics -Adam Smith's The Wealth of Nations in 1776 is usually considered to mark the beginning of classical economics. Adam Smith “Wealth of Nations” -Was a Scottish moral philosopher and a pioneer of political economics. One of the key figures of the Scottish Enlightenment, Smith is the author of The Theory of Moral Sentiments and An Inquiry into the Nature and Causes of the Wealth of Nations. 1914-1945 World War I Military conflict that lasted
from 1914 to 1918 and
involved most of the world's
great powers Transportation Advances Isolationism is a foreign policy which combines
a non-interventionist military policy and a political policy of economic nationalism (protectionism). Non-interventionism Political rulers should avoid
entangling alliances with other
nations and avoid all wars not
related to direct territorial self-defense. Protectionism There should be legal barriers
to control trade and cultural
exchange with people in other states. Post-War Devastation Growth of Fascist Movements radical and authoritarian nationalist political ideology. Fascists seek to organize a nation on corporatist perspectives; values; and systems such as the political system and the economy. World War II was a global military conflict lasting
from 1939 to 1945 which involved most
of the world's nations, including all of the
great powers, organised into two opposing
military alliances: the Allies and the Axis. Gold Standard Crisis The gold standard is a monetary
system in which the standard
economic unit of account is a
fixed weight of gold. Cold War was the continuing state of political conflict, military tension, proxy wars, and economic competition existing after World War II (1939–1945), primarily between the Soviet Union and its satellite states, and the powers of the Western world, particularly the United States. 1945-1970's Decolonization refers to the undoing of colonialism, the establishment of governance or authority through the creation of settlements by another country or jurisdiction.
Capitalism vs Socialism
economic system where capital
and land, the non-labor factors of
production (also known as the means
of production), are privately owned; labor,
goods and resources are traded in markets;
and profit, is distributed to the owners
invested in technologies and industries. Capitalism Socialism various theories of economic organization which advocate either public or direct worker ownership and administration of the means of production and allocation of resources.
Inflation and Stagnation is a rise in the general level
of prices of goods and services
in an economy over a period of time. Inflation is a prolonged period of slow economic growth (traditionally measured in terms of the GDP growth). Stagnation Oil Crisis
started in October 1973, when the members of Organization of Arab Petroleum Exporting Countries or the OAPEC (consisting of the Arab members of OPEC, plus Egypt, Syria and Tunisia) proclaimed an oil embargo "in response to the U.S. decision to re-supply the Israeli military" during the Yom Kippur war; it lasted until March 1974 Collapse of Bretton Woods The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states. Late 20th Century- Present Berlin Wall Down was a concrete barrier built by the German Democratic Republic (GDR, East Germany) that completely enclosed the city of West Berlin, separating it from East Germany, including East Berlin. Regionalism a political ideology that focuses on the interests of a particular region or group of regions, whether traditional or formal (administrative divisions, country subdivisions, political divisions, subnational units). Regionalism centers on increasing the region's influence and political power, either through movements for limited form of autonomy (devolution, states' rights, decentralization) or through stronger measures for a greater degree of autonomy (sovereignty, separatism, independence). Third World Crisis Many developing countries have very large debts, and the amount of money they owe is quickly increasing. Trying to pay off the debt (debt service) has become a serious problem for these countries, and it causes great hardship for their people.
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