Due to businesses like these integrating vertically big businesses were made easier to grow. By 1913, 14.7% was what the US produced units relative to the world in 1880 became 32%. Another point is the fact that through the work of Carnegie, steel has become a major product of the US, this increased the steel production thus providing lots of employment. This results in a massive growth in the economy . Due to big businesses like one of Carnegie’s, small companies which were less profitable were ruined, this resulted in the economy benefiting from monopolies.
In addition to this, the idea of mercantilism meant that American trade was protected by Britain, and this was advantageous as Britain was one of the strongest economic powers in the world at the time. These reasons support the statement that the relationship was ‘peaceful and harmonious’ because both parties were substantially benefitting from one another’s trading opportunities. On the other hand, there
Having these two areas under its control meant that the Mediterranean was once again a Roman sea, and the trade that was now available to the empire would greatly increase its revenue. Justinian would further improve his legacy as these two former Roman territories were still very important to the Byzantine Empire. However, the conquests expanded throughout more than just North Africa and Italy. Conquests were throughout parts of Europe, Middle East, and North Africa, as Document 6 shows. The conquest of Africa in 533 by Belisarius also increased the wealth of the empire as the general took back the Vandal treasury, once plundered from
While it has been argued that an exceptional economic growth caused some problems, the advantages that came with it, outweigh the negatives. Germany’s economic growth was exceptional, industries such as the production of coal and iron doubled in the years up to 1914. By 1900, Germany’s particularly strong steel industry had exceeded that of Britain’s and by the beginning of the first world war, Germany‘s share of trade in the world was equal to Britain’s. Therefore, the power of the elites was not being threatened, as the country was benefitting from the money that the economic growth had brought in, to a high extent. Germany led the way on Europe with the creation of new industries such as chemicals, pharmaceuticals, electrics and motor manufacture.
Also they gained economic power because the colonies which were part of the British Empire had sources of cheap raw materials, which were manufactured in Britain and sold on again, thus increasing trade, leading to increased GDP. WW1, The Great Depression of the 1930's and then WW2, all happened one after the other, and exhausted Britain financially. In 1945 Britain was still a military superpower, with a huge Army, Navy and Air Force, but Britain was financially in a disastrous state, and Britain itself badly needed rebuilding, and this was the priority. Britain decolonised over a period of around 30 years, almost always peacefully, and without any major challenges from the colonials. In the 1950's many of the former colonies became independent, which meant the British Empire was no longer a superpower.
The railways, particularly the Trans-Siberian railway, also gave Eastern Russia a link to Europe and Western Russia a link to the Pacific Ocean, which made it easier to export Russian goods. Therefore the Russian governments’ investment in railways was extremely successful in promoting economic growth. The Russian government was also successful in improving Russia’s heavy industry through the introduction of tariffs on imports. This clearly helped Russian heavy industry to expand as steel production increase eightfold from 1880 to 1905 and petroleum production increased over 2500% during the same time period. These tariffs, introduced by Vyshnedgradsky and continued by Witte, both increased revenue for the government and made
Also new progressive members were put in place who were Liberal Tories, including Peel, Canning, Robinson, and Huskisson. Also Britain was undergoing an economic revival, and was a much stronger and bigger trading nation then before. Consequently they introduced Economic reforms. Furthermore crime rates had doubled since the wars with France, and this had an alarming effect on the Tories. Moreover it seemed that the “Penal Code” was not respected or enforced hardly enough, because it was too harsh, it carried too many death penalties, and some of the laws were very old and were usually overlapping each other.
Source A was written in 1902, at which point the Conservatives were in power, and had made many mistakes such as decisions about the Boer War, through Balfour. On top of this, the Liberals were getting stronger and more popular, and their ideas (such as free trade and Campbell-Bannerman’s broadchurch approach), were appealing more and more to the public. Source D, however, was written in 1911, when the Liberals had been in power since their ‘landslide victory’ in 1906, winning by a huge majority. Despite the decrease in support since then, the Liberals were still popular, as they had brought in some popular reforms such as the Trade Disputes Act in 1906, and the introduction of old age pensions in
Numerous wars were fought over trade, because of the great profit it brought to the land. The Crusades were not just holy wars, but they also aimed to take one of the largest trading centers and routes in the world. Trading and the City: Merchant and traders were not part of the medieval feudal society, yet they had great influence in it. As trade developed, towns along the trade routes became richer and richer. Some developed into great cities, such as Paris, France.
Many ports throughout the Middle Atlantic colonies and South Carolina enjoyed a huge boost to their economies by trading with Britain. In exchange for back country products, they received manufactured goods from England. Many of the merchants in Philadelphia and New York also had political influence and argued that security and safety was in staying with the mother country. Many of them also relied on insurance provided from England’s banks and as stated that independence would be unprofitable. This might be particularly true considering that many of the merchants were enjoying as much as a ten percent profit.