Industrialization Over AgricultureThe decision on what kind of growth a country should pursue, balanced or biased, has been the subject of heated debates among academicians and government officials for over a century. While some argue that a balanced growth is more beneficial for a country, there ar...

Czarist russia In the early czarist age/ pre-Revolutionary era Russia was a feudal land system and there was a growing gap between agricultural Russia and industrial Europe. Russia under the czars was growing out of the feudal system, but it was a slow process because the czars were afraid of los...

The Effects of Price Control in Japan If supply is greater than demand, the price of a product will decrease. If demand is greater than supply, the price of a product will increase. This is a simple rule that determines the price of almost all consumer goods. But what happens if the price is ...

Southern Thought Reexamined George Fitzhugh in "Southern Thought" presents an argument of a new society in the South. The South must take for granted the fact that slavery is right and that a new ideology, a new philosophy must be created off the south's foundation of an agricultura...

Adam Smith: An Inquiry Into the Nature and Causes of the Wealth of Nations Adam Smith is broken up into five different books with separate chapters. We will mainly focus on book IV and I. Book I is mainly concerned with how wealth is distributed as wages, profits and rent. The main argument in ...

World market economies are comprised of two different types of markets. Those markets are free market economy and planned market economy. Free market economy is an economic system which resolves the basic economic problem through the market mechanism. Planned market economy is an economic system w...

The Communist World and the Free World were two kinds of economic and political camps existing in 1985. At the center of these camps were two nations, the Union of Soviet Socialist Republics who followed the principals of communism, and the United States of America with the belief in Capitalism and...

During the late nineteenth century, the agrarian movement evolved into a political force that energized American farmers to voice their political and economic grievances like never before. Although the movement essentially died after William Jennings Bryan's loss of the 1896 Presidential election, ...

The unemployment problem began in 90's last century. First, it resulted from the restructuring of economy. In the period of planned economy, the large-scale corporation is the most common production organization. But to the market economy, the most common one is the individual or small-scale co...

The economic structure of a society determines all other structures in the society. While the other structures may have an impact on one or more of the other structures, the economic structure is the only one that affects all of them. Capitalism leads to Protestantism, and slavery leads to a versi...

Capitalism can be simply defined as an economic system, marked by open competition in a free market, in which the means of production and distribution are privately or corporately owned, and development is proportionate to increasing accumulation and reinvestment of profits. However, capitalism tend...

Government Intervention The U.S. economy is a dynamic, free-market system. The U.S. is often described as a mixed economy, which is that even thought the great majority of productive resources are privately owned, the federal government does play an important part in the marketplace. Although o...

Looking back on Depression-era America and it's two most prominent leaders, it is imperative that neither one be characterized solely as an extreme liberal or extreme conservative. Rather, if the actions and achievements of each leader are observed with an unbiased eye, one will see that Roosev...

Why would labour regard globalisation as a threat? Globalisation is the term that refers to the acceleration and intensification of mechanisms, processes and activities that are allegedly promoting global interdependence and perhaps, ultimately, global political and economic integration. At its c...

The eighteenth century witnessed the arrival of widespread industrialisation in Western Europe. Many countries underwent the gradual transition from a predominantly agrarian society to industrial development on an extensive scale and the introduction of the modern factory system. Great Britain was t...

The relationship that exists between capitalism and democracy is one that contradicts itself. It is obvious that the nations that follow the ideology of both capitalism and democracy are the nations that tend to be more industrialized and more economically stable, for example, the United States and ...

Christopher Clark\'s, The Roots of Rural Capitalism focuses on the Connecticut River Valley in Western Massachusetts between the American Revolution and the Civil War. Clark\'s study of the economy of the Connecticut River Valley traces the move from an economy based on household subsistence to one ...

From the period of 1750-1914, many non Western countries such as China, Japan, Russia, and the Middle East were feeling the pressure from the West to modernize and industrialize. While Japan was quite successful in modernizing and industrializing through the Meiji Restoration, China never fully unde...

Ever since man abandoned the hunter-gatherer life and began to settle on the land, he has been constantly advancing and developing. Despite a brief lull during the Middle Ages, mankind has been steadily progressing in every aspect of human nature. From technological invention and social development,...

The New U.S. Meat IndustryThe new U.S. meat industry of food retailers, meat processors, and farms and ranches coalesce into fewer and larger businesses are emerging. These new giants like Wal-Mart could drive up food prices for consumers and drive down livestock prices for consumers and drive down ...

Karl Marx is the most controversial economist in history. His writings are studied and debated. He is frequently linked with communism and that association has biased many people against him. Marx's link to communism were formed because many of the socialist dictators such as Lenin studied...

An important trend occurring in the world economy is the process of globalisation. Globalisation is the progressive integration between national economies and the breaking down of barriers between trade and financial flows around the world, which will eventually lead to the emergence of a single wor...

Decades of controversy about the nature and appropriate boundaries of his discipline led the economist Jacob Viner to observe that "economics is what economists do." Somewhat more precisely, economists engage in systematic inquiry into the effects of those human activities which are grouped under t...

Karl Marx is the most controversial economist in history. His writings are studied and debated. He is frequently linked with communism and that association has biased many people against him. Marx's link to communism were formed because many of the socialist dictators such as Lenin studied Marx...

DISCUSS THE MERITS AND DEMERITS OF THE MARKET AS AN INSTITUTION OF EXCHANGE Introduction The global economy is categorized into two broad economies i.e. the command economy that is directed by a centralized government and a market economy which is based on private enterprise. Market economy...