The Introduction Of The Discussion Will Focus On The Origins Of Essays

The introduction of the discussion will focus on the origins of the Great Depression and the escalating events that led to it. This will provide adequate foundations to bring up questions and attempt to answer them in an objective fashion as to why and how the Depression affected different industrialized countries in different ways. The core of the debate will consist of detailed comparable analyses of the consequences of the Depression with an emphasis on the economic aspects. The conclusion will provide a brief overview of the ways used by the different governments to get out of that dark episode of world economic history. When studying the Great Depression and it's effects, it is not unusual for historians to choose World War I as a starting point for their investigation. The reason for that is the importance of the repercussions the conflict had on the economies of all the countries that were involved in it. First of all, the War made it impossible for Europe to maintain previous levels of production. For example, before the War, France, the U.K. and Germany accounted for about 60 percent1 of the world's exports of manufactured goods, a share of the market which they could not sustain during the conflict. Consequently, Europe took many of its markets to the U.S. and Japan. The stunted growth of the European economies meant a lower demand for raw materials, which in turn lowered the demand for European exports. In agriculture, things didn't look any better, as it was the sector which employed the most people. At the end of World War I, Europe was forced to import food from the U.S.. Moreover, these transactions were conducted on a credit basis since Europe could not afford to pay for its purchase at that time. Clearly, the U.S. was going from being a traditional debtor of Europe before World War I to becoming its creditor: America had financed the war and it was issuing loans for its reconstruction. However, the attitudes in the U.S. were evolving in an unusual direction: an increasing number of American financiers were starting to literally seek ut potential borrowers which led to competition among U.S. banks and the spreading of unsound lending.2 The main object was to "do the most business", even at the expense of essential caution. What seemed like a beginning of recovery from the Great War, was in fact an immense accumulation of debts, which made the international economic order vulnerable to depression. Analyzing these events with the insight we have today, they seem even more unbelievably audacious given the high instability of the borrowing nation. (i.e., Europe) The triggering event was the crash of the Wall Street stock market in October of 1929. The stock market collapsed after steady declines in production, prices and incomes over three previous months which forced the speculators to revise their expectations. Anxiety soon gave place to panic which led to the crash. However, the depression affected the different industrialized countries in various ways and degrees of intensity. The depression was of especially great magnitude in the U.S. because there were not any welfare benefits for laid off workers. In the period between 1929 and 1933, money income fell by 53 percent (real income fell by 36 percent.)3 As a consequence, demand fell significantly, which in turn led to lower production and more layoffs-- up to a high of 25 percent rate of unemployment in 1933. Despite the severity of the situation, the Federal Reserve did not pursue a monetary expansion on policy which would have stimulated the economy through lower interest rates and increased the stock of money in circulation. This inaction is often attributed to the fact that market interest rates in 1930-1931 fell to very low levels, much lower than in the earlier recessions (of 1924 and 1927), and therefore, the Federal Reserve Board wrongfully saw no need to pursue an expansionary monetary policy.4 An indicator of that inaction is that open market operations did not provide sufficient money reserves for a banking system faced with depositors anxious for liquidity (monetary expansion would have filled that need). If the Federal Reserve had provided additional funds to the banking sector after 1930, bank failure would not have been so numerous and the decrease in the attack of would have been (at least) slowed down. Still, it would not be accurate to make the Federal Reserve responsible for all these problems. Other factors contributed to the precipitation of what began as a cyclical recession into what we now know as the Great Depression. One of those is the Hawley Smoot tariff of 1930 which in essence made America

Analyze how political, religious, and social factors affected the work of scientists in the sixteenth and seventeenth centuries free essay sample

The scientific revolution took place between 1500 and 1700, with scientists, or natural philosophers made many groundbreaking discoveries. A universe composed of matter in motion which could be understood through mathematics and experiment, changing the mindsets of many Europeans. The work of the scientists were greatly influenced by the approval of political figures and their desire of power, the support and compassion from influential members of the church and social factors that both influenced the progression and acceptance of the new theories. Scientific findings were regarded highly among political figures because it was an opportunity to gain more power and money. With many Europeans sharing this mindset, those with power strived to create institutions like Royal Academies for these discoveries to be found and shared. As the Finance Minister under Louis XIV, Jean Baptiste Colbert must have wanted to preserve and increase France’s budget. â€Å"†¦an abundance of wealth and in causing the arts and sciences to flourish, we have been persuaded for many years to establish several academies for both letter and sciences. We will write a custom essay sample on Analyze how political, religious, and social factors affected the work of scientists in the sixteenth and seventeenth centuries or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page † (Doc 11). King Louis XIV himself was an ally of science as shown in Document 10, where the king is shown at the French Royal Academy, conversing with the scientists. The drawing shows a well-developed institute with instruments and specimens used in astronomy, geography, biology and navigation, which would have not been accessible if it weren’t for King Louis XIV’s interest and funding for the sciences. When scientific discoveries affect ambition, profit or lust of the rulers, they are questioned and suppressed; Thomas Hobbes, an English philosopher stated in the Leviathan â€Å"†¦conflicted with the interests of those who rule, I know it would be suppressed† (Doc 7). Although most of the Catholic Clergy disapproved of any scientific findings, some influential members of the church enjoyed and accepted the discoveries. John Calvin, a French Protestant theologian said â€Å"This study should not be prohibited, nor this science condemned, because some frantic persons boldly reject whatever is unknown to them [†¦] this art unfolds the admirable wisdom of God.† (Doc 2). This shows that he not only wishes for more scientific advances, but that he believes it could help solve some of the mysteries surrounding God. Since John Calvin is a famous religious leader, he could  affect scientific research and the beliefs of those doubting any scientific advances due to his high rank and credibility that most scientists did not have. Without as much influence as Calvin, many scientists sent out their studies to those high in power to review their work. Nicolaus Copernicus, a Polish priest and astronomer dedicated his book On the Revolution of the Heavenly Spheres to Pope Paul III because of his love and importance of science. â€Å"[†¦] by your influence and judgment, can readily hold the slanderers from biting. Mathematics are for mathematicians and they, if I be not wholly deceived, will hold that my labors contribute even to the well-being of the church.† (Doc 1). This indicates that Copernicus is hoping that Pope Paul will prevent slander of his work and understand that his book is in support of the church and that other mathematicians will agree with him. In document 5, in a letter to his noble patron, Marin Mersenne states, â€Å"If you object to anything, I am ready to remove it entirely. [†¦] you will not find a single word which is not true in my experiments, which many times confirm those of the great Galileo.† Showing that the monk is willing to remove anything from his work that his higher-up rejects, even though all of his results are based on multiple experiments with witnesses to support the end result. Certain obstacles in society prevented the sciences to progress at the most efficient rate, due to lack of interaction between scientists and sexism. During this time period, sexism was a normal thing, women were thought to be less intelligent than men and were not allowed the same education or opportunities. In a letter to Johannes Hevelius, Henry Oldenbury writes â€Å"Friendship among learned men is a great aid to the investigation and elucidation of the truth [†¦] philosophy would then be raised to its greatest heights.† (Doc 6). This indicates that as the Secretary of the English Royal Society, Henry believes sharing information among well taught and raised men is the only way to increase scientific findings. On the other side of society, we have Margaret Cavendish, an English natural philosopher who is seen as less credible and intelligent than the average male scientist. â€Å"†¦I might set up my own school of natural philosophy. But I, being a woman, do fear they would soon cast me out of their schools. For though the Muses, Graces, and Sciences are all of the female gender, yet they were more  esteemed in former ages, than they are now.† (Doc 9). In ancient civilizations, women were viewed in a better light than they were during the scientific revolution. Many ancient achievements were portrayed as female beings, but women themselves were not allowed to contribute to new advancements and if they did, they were brushed aside and ignored because of the belief that women were just not capable of doing the same things that men were. When we put aside gender differences, the scientific revolution still seems to be lacking in certain ways. In document 4, Sir Francis Bacon states â€Å"†¦it is not possible to run a race when the goal itself has not been rightly chosen.† There was no final product scientists were hoping to achieve, no exact ending except to improve the sciences. They could build and build onto each other’s work, but what is the point if the scientists themselves don’t know what they’re looking for. Sir Francis Bacon wished to reorganize the sciences with The Great Instauration by creating a goal scientists could work for to tie together their works to have an even better understanding of the universe. With the advancement of the sciences in Europe, many groups were influential to the works of the scientists, such as. Political figures and their funding to advance further into the discoveries, religious members and their ability to accept and spread or reject and end, and finally multiple social factors that suppressed certain people and helped the spread of certain beliefs and ideas.