World War Ii to 2011: Changes and Challenges in the Global Economy

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World War II to 2011: Changes and Challenges in the Global Economy The aftermath of World War II was the beginning of a new era. The war ended the Great Depression. The federal government emerged from the war as a potent economic factor, able to regulate economic activity and to partially control the economy through spending and consumption. Six major changes and challenges emerged from the war that helped shape the global economy: 1. The Emergence of Women- women were needed to fill many traditionally male jobs and roles. Women had more opportunities open up because of the demands of war. This helped them start working in facilities for war production and became a major part of the workforce. 2. The Emergence of the Global Economic and Financial System- After the war, an economic and financial systems became rules-based and market-oriented. 3. The re-emergence of State-Owned and State-Supported Enterprises- after the war, states played a role in economic systems in most parts of the world. There was a period of massive privatization where the role of the state was not as strong, but now the role of states are starting to rise again. States are moving towards a state-owned economic system but the government has to be careful to remain “competitive neutrality”. Which means, government assistance to state-owned or supported businesses does not interfere with competition to companies that are not state-owned or supported. 4. The Internet and Free Flow of Information- the internet is something the government cannot control. The internet is a single entity. If the government tries to limit the internet’s ability to transmit ideas, you are limiting the citizens to the global market, the global economy, and to exchange ideas on research. The challenges of the internet and the exchange of information is something we are still facing today. 5. The Diffusion of

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