e. a drastic decline in worker productivity. 2. Lyndon Johnson’s insistence on fighting the Vietnam War and finding the Great Society with a tax increase to pay for them led to a. a drastic inflation of prices in the 1970s. b. a decline in the competitive advantage of American business. c. severe cutbacks in the size of the federal government.
John majors government came into office after the downfall of Margret Thatcher, which ultimately created divisions within the party. Not only did the party suffer from the internal conflict but also faced the problems of the recession after the ‘Lawson boom’. In order to stabilise the economy he joined the ERM getting a good deal but ultimately resulting in ‘black Wednesday’ causing Major to raise interest rates to 15%. This was political suicide and he soon lost the support of the press we had once relied so much on to get re-elected in 1992. The housing market also plummeted leading to negative equity, which the majority of the working class could not afford resulting in the repossession of their houses combined with the drastic increase in unemployment Britain was in a mess.
Cyclical unemployment= caused by periodic slumps b) Structural unemployment= caused by the long-term decline of certain industries. 19. In 1934, Merthyr Tydfil in South Wales had 62% male unemployment, Mary port in Cumberland had over 50% unemployed and Jarrow in the north east has around 70%. These towns suffered the most because of the amount of staple industries that existed. 20.
With significantly reduced wealth, spending decline, banks failed and on top of this drought conditions contributed to a lack of good crops. The Great Depression was the result of an unlucky combination of factors, but mainly the use of margin is to blame (Doc . Worldwide, there was increased unemployment, decreased government revenue, and a drop in international trade. At the height of the Great Depression in 1933, more than a quarter of the US labor force was unemployed. Some countries saw a change in leadership as a result of the economic turmoil.
How important was the decline of Britain’s staple industries in explaining the industrial unrest of the period between 1918-1929? The quick decline of the staple industries had a huge effect among Britain, it accounted for almost half of Britain’s total out put, a quarter of employment and three quarters of exports before 1914. Through out 1920’s unemployment remained at about 10- 20%of an insure workforce where as Britain’s share of the world export trade fell from 18-11% and a drop in value also in overseas investments, which of course left Britain struggling to pay for imports. London was no longer the undisputed financial capital of the world and as the US replaced Britain as the world money lender, the US dollar displaced the pound as the world’s major currency. However there were a few positive developments along side the bad, for example in the 1920’s new industries were introduced of the second industrial revelation, electrical goods, chemicals and motor car production through the mid 20’s was higher by three times than its year of 1914, these where among the products and services that Britain Introduced in an effort to revitalise and flourish Britain’s industries.
For example, between 50,000 and 100,000 people died during the drought in East Africa which affected the countries of Somalia, Ethiopia and Kenya. These countries have dry climates all year round and increased droughts due to climate change are making the survival of these people more and more difficult. However, not only LICS are affected by droughts, other areas, such as Australia, also suffer. Sydney has been experiencing the worst drought in 100 years, called the Big Dry, which has only recently ended. With global warming and climate change weather is becoming more extreme, with
2008-2009 American Recession Amber May POL 201 Professor Dawson March 26th 2012 2008-2009 American Recession In 2008 America faced a financial crisis of historic proportions (O’Conner and Sabato, 2011). By September 2008 more than 150,000 jobs were lost. With many people out of work with no way to pay for everyday expenses, people were looking for someone to hold responsible. Although many people tend to blame one person for the economic downfall, many people and issues played a role in the 2008 downfall. The major issues that caused the downfall were high unemployment, problems with banking policies, high inflation rates and oil prices.
American hardship during the Great Depression was extremely enormous. There were many problems, but the main one was the economy. The economy wasn’t doing well at all. Unemployment was on a rise, businesses were failing. The reason of that is because the stock market was doing badly, there were overproduction and a crash which is stock prices go down.
Joseph Canlas Bergen Catholic AP U.S. History September 26, 2011 The Impact of the Great Depression on Social Groups A decade following the end of World War II, tragedy befell the United States. With the transition from war to a time of peace, factories previously dedicated to the production of warfare supplies (i.e. ammo, artillery, clothing, vehicles) were forced to either shutdown or change their produce. Large amounts of money were used in the demobilization of soldiers and these incoming soldiers were in great need for re-entry into the work force. The size of the army was decreasing at the expense of the labor market, which struck its peak at 1.6 million people.
However, after four decades of aid receiving, poverty is still the biggest challenge in Africa. Data show that overall foreign aid has failed not only to promote economic growth but also to improve the lives of the people on the continent. As such, poverty has even worsened around the African continent. The World Bank (2008) reports that the number of poor in Africa has nearly doubled, increasing from 200 million in 1981 to 390 in 2005 despite massive foreign fund inflows. Furthermore, Dambisa Moyo (2009) in her much acclaimed book Dead Aid goes further by highlighting the failure of aid in Africa.