Phases of Capitalism - Mercantile, Classical and Keynesian

Most people today are familiar with the term capitalism and what it means. But did you know that it has existed for over 700 years? Capitalism today is a much different economic system than it was when it debuted in Europe in the 14th century. In fact, the system of capitalism has gone through three distinct epochs, beginning with mercantile, moving on to classical (or competitive), and then evolving into Keynesianism or state capitalism in the 20th century before it would morph once more into the global capitalism we know today. The Beginning: Mercantile Capitalism, 14th-18th centuries According to Giovanni Arrighi, an Italian sociologist, capitalism first emerged in its mercantile form during the 14th century. It was a system of trade developed by Italian traders who wished to increase their profits by evading local markets. This new system of trade was limited until growing European powers started to profit from long-distance trade, as they began the process of colonial expansion. For this reason, American sociologist William I. Robinson dates the beginning of mercantile capitalism at Columbus’s arrival in the Americas in 1492. Either way, at this time, capitalism was a system of trading goods outside of one’s immediate local market in order to increase profit for the traders. It was the rise of the â€Å"middle man.† It was also the creation of the seeds of the corporation—the joint stock companies used to broker the trade in goods, like the British East India Company. Some of the first stock exchanges and banks were created during th is period as well, in order to manage this new system of trade. As time passed and European powers like the Dutch, French, and Spanish rose to prominence, the mercantile period was marked by their seizure of the control of trade in goods, people (as slaves), and resources previously controlled by others. They also, through colonization projects, shifted production of crops to colonized lands and profited off of enslaved and wage-slave labor. The Atlantic Triangle Trade, which moved goods and people between Africa, the Americas, and Europe, thrived during this period. It is an exemplar of mercantile capitalism in action. This first epoch of capitalism was disrupted by those whose ability to accumulate wealth was limited by the tight grasp of the ruling monarchies and aristocracies. The American, French, and  Haitian Revolutions  altered systems of trade, and the Industrial Revolution significantly altered the means and relations of production. Together, these changes ushered in a new epoch of capitalism. The Second Epoch: Classical (or Competitive) Capitalism, 19th century Classical capitalism is the form we are probably thinking of when we think about what capitalism is and how it operates. It was during this epoch that Karl Marx studied and critiqued the system, which is part of what makes this version stick in our minds. Following the political and technological revolutions mentioned above, a massive reorganization of society took place. The bourgeoisie class, owners of the means of production, rose to power within newly formed nation-states and a vast class of workers left rural lives to staff the factories that were now producing goods in a mechanized way. This epoch of capitalism was characterized by free market ideology, which holds that the market should be left to sort itself out without intervention from governments. It was also characterized by new machine technologies used to produce goods, and the creation of distinct roles played by workers within a compartmentalized division of labor. The British dominated this epoch with the  expansion of their colonial empire, which brought raw materials from its colonies around the world into its factories in the UK at low cost. For example, sociologist John Talbot, who has studied the coffee trade throughout time, notes that British capitalists invested their accumulated wealth in developing cultivation, extraction, and transportation infrastructure throughout Latin America, which fostered a huge increase in flows of raw materials to British factories. Much of the labor used in these processes in Latin America during this time was coerced, enslaved, or paid very low wages, notably in Brazil, where slavery was not abolished until 1888. During this period, unrest among the working classes in the U.S., in the UK, and throughout colonized lands was common, due to low wages and poor working conditions. Upton Sinclair infamously depicted these conditions in his novel, The Jungle. The U.S. labor movement took shape during this epoch of capitalism. Philanthropy also emerged during this time, as a way for those made wealthy by capitalism to redistribute wealth to those who were exploited by the system. The Third Epoch: Keynesian or New Deal Capitalism As the 20th century dawned, the U.S.  and nation states within Western Europe were firmly established as sovereign states with distinct economies bounded by their national borders. The second epoch of capitalism, what we call â€Å"classical† or â€Å"competitive,† was ruled by free-market ideology and the belief that competition between firms and nations was best for all, and was the right way for the economy to operate. However,  following the stock market crash of 1929, free-market ideology and its core principles were abandoned by heads of state, CEOs, and leaders in banking and finance. A new era of state intervention in the economy was born, which characterized the third epoch of capitalism. The goals of state intervention were to protect national industries from overseas competition, and to foster the growth of national corporations through state investment in social welfare programs and infrastructure. This new approach to managing the economy was known as â€Å"Keynesianism,† and based on the theory of British economist  John Maynard Keynes, published in 1936. Keynes argued that the economy was suffering from inadequate demand for goods, and that the only way to remedy that was to stabilize the populace so that they could consume. The forms of state intervention taken by the U.S. through legislation and program creation during this period were known collectively as the â€Å"New Deal,† and included, among many others, social welfare programs like Social Security, regulatory bodies like the United States Housing Authority and Farm Security Administration, legislation like the Fair Labor Standards Act of 1938 (which put a legal cap on weekly work hours  and set a minimum wage), and lending bodies like Fannie Mae that subsidized home mortgages. The New Deal also created jobs for unemployed individuals and put stagnant production facilities to work with federal progr ams like the  Works Progress Administration.  The New Deal included regulation of financial institutions, the most notable of which was the  Glass-Steagall Act of 1933, and increased rates of taxes on very wealthy individuals, and on corporate profits. The Keynesian model adopted in the U.S., combined with the production boom created by World War II, fostered a period of economic growth and accumulation for U.S. corporations that set the U.S. on course to be the global economic power during this epoch of capitalism. This rise to power was fueled by technological innovations, like radio, and later, television, that allowed for mass mediated advertising to create demand for consumer goods. Advertisers began selling a lifestyle that could be achieved through consumption of goods, which marks an important turning point in the history of capitalism:  the emergence of consumerism, or consumption as a way of life. The U.S. economic boom of capitalism’s third epoch faltered in the 1970s for several complex reasons, which we won’t elaborate here. The plan hatched in response to this economic recession  by U.S. political leaders, and heads of corporation and finance, was a neoliberal plan premised on undoing much of the regulation and social welfare programs created in the previous decades. This plan and its enactment created the conditions for the globalization of capitalism, and led into the fourth and current epoch of capitalism.

Personal Narrative My Writing Classroom - 970 Words

My Writing Classroom As technology evolves, the traditional style writing classrooms should do so as well. Students are used to the typical routine, in which an instructor lecture and hands out assignments. However, is that really the most effective way of teaching for all students? Teachers neglect the fact that not all students learn the same way. In learning this, I propose some changes that could be made in order to increase learning effectively such as; the choice of physical work verses online work, communications and feedback to students, and essays. As we continue in the future, online classes are becoming more and more popular. Students are able to work and continue education with more flexibility. The most common problem with the online class is communication, as well as learning is not always successful. In a recent article by Maria Konnikova, Ziming Liu, a professor at San Jose State University suggests, â€Å"On screen, people tended to browse and scan, to look for keyw ords, and to read in a less linear, more selective fashion. On the page, they tended to concentrate more on following the text.†(Konnikova. Par. 3). Perhaps instead of just an online class, an instructor combines the two. Some parts of the class, such as video lectures should be presented online, and other things like homework or work be done in class. The first most important issue that needs to be addressed is physical work versus online work. Instead of just showing up to a classroom to listenShow MoreRelatedTeaching Education At The University Of Virginia s College At Wise Essay1532 Words   |  7 PagesUniversity of Virginia’s College at Wise. During my time at the university, I gained a thorough knowledge of English Literature, writing, and teaching pedagogue. 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Nuclear Reactors and Energy free essay sample

An examination of the process by which nuclear reactors produce energy. This paper explains how a nuclear reactor produces energy. The paper includes a discussion of fission, radioactivity, types of reactors and how they produce electricity. All modern nuclear reactors operate on the principal of nuclear fission. Nuclear fission is a process in which the nucleus of an atom is split when it absorbs a free neutron after a collision occurs between the atom and the neutron. Splitting the nucleus of the atom releases large amounts of nuclear energy contained within the nucleus. Once the nucleus of the atom is split, multiple neutrons are released which are used to split nuclei of other atoms, causing what is known as a chain reaction. The chain reaction will continue as long as an average of one neutron per fission is absorbed by a nucleus. By harnessing and manipulating the energy that is released, other types of energy can be obtained. We will write a custom essay sample on Nuclear Reactors and Energy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The power developed by nuclear fission has been used by man to create, as in the driving of an electric generator and for propulsion, as well as destroy, as in the release of atomic explosion. Whereas the fission in a nuclear reactor is precisely controlled to prevent a nuclear meltdown, the fission in an atomic explosion is not controlled and the shock wave produced by the splitting atom and its resulting chain reaction is equal to several thousand tons of TNT.

Pulleys, forces and the principle of moments Essay Example

Pulleys, forces and the principle of moments Paper A Push or Pull which can vary in magnitude or direction on an object is called Force. The direction of force is the direction of push or pull. If the push and pull are on opposite directions, they act simultaneously, in other words the one with the greater push gives the direction of force. The standard unit for force in International system is Newton (N). Altogether there are five types of forces which are given below with their definitions mentioned- 1. Muscular Force- The force exerted by the muscles is known as Muscular force. 2. Gravitational Force- When an object is thrown in the air, it automatically comes down. This is because the Earth attracts every object or body towards it with a force called the force of Gravitation. 3. Magnetic Force- The force exerted by a magnet is called Magnetic force. For e. g. If I bring a magnet near some pins, they will all get pulled towards the magnet. It therefore, implies that the magnet has exerted some force on the pins. 4. Electrostatic Force- The force exerted by electrostatic charge is called Electrostatic force. This type of force can be repulsive or attractive. For e. g. Rub a comb with a dry cloth and bring it near small pieces of paper. We will write a custom essay sample on Pulleys, forces and the principle of moments specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Pulleys, forces and the principle of moments specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Pulleys, forces and the principle of moments specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We would be astonished to discover that the pieces of paper are pulled towards the comb. This attraction is due to electrostatic force. 5. Frictional Force- The force which opposes the motion of a body moving on a surface is called Frictional force. This type of a force acts between the two surfaces in contact. For e. g. Roll a ball on a smooth polished surface, next on a rough floor. We will be surprised to discover that, on the smooth surface, it travels over a long distance before coming to rest as compared to the distance it travels on a rough surface. Weight and Mass- The gravitational pull of the Earth on a body is called its weight. Weight of a body can be measured by a device called Spring Balance. It is measured in Newtons. Quantity of matter contained in body is called its Mass. It is measured by a physical balance and its units are Kilograms. Machines A machine is a device which helps us to apply force easily and make our work easier and convenient. A wide variety of machines are extensively used at home, in school, factories and in other activities in life. Some of the common used simple machines are: Tongs, Knife, Screw driver, Nut cracker, Tweezer, Pliers, Scissors and pulleys. There are some complex machines too such as: Bicycle, Sewing machine and Tractors. Machines Enable us to Apply Force at a Convenient Point While using a pair of scissors, we use force at the end of the blades whereas the cloth is cut in between the sharp edges of the blades. When we are pushing a screw inside a block of wood, we are using a screw driver, the force is therefore being applied to the handle of the screw driver, but it acts on the head of the screw and moves its sharp tip inside. Machines Enable us to Change the Direction of Force While drawing water out from a well, he rope is passed over a pulley. The rope is pulled downwards whereas the bucket of water is pulled upwards. Pushing the rope downward is more convenient as compared to moving it up. So the use of machines enables us to change the direction of force. Lever: Lever is a rod which moves freely about a pivot. A crowbar is a perfect example. Fulcrum: It is a pivot abut which a rod or a system mover freely. Load: The weight of an object required to be lifted is called the Load. Effort: The force applied on an object is called effort. There are three types of levers depending upon the relative positions: First Type: The first type of lever involves the fulcrum in between the effort and the load. Second Type: In this second type of lever the load is in between the fulcrum and the effort. Wheelbarrow is a lever in which the load is in between the fulcrum and the effort. Third Type: In this third type of lever, the effort lies in between the fulcrum and the load. Tongs and fishing rods are examples of this category. Law of Moments: Clockwise = Anti- Clockwise Formula: Force X Distance Pulley A pulley consists of a wheel that turns freely about an axle passing through its centre. It is designed in such a manner that its periphery (Outer part) has a groove over which passes a rope or a chain. Pulling or releasing the rope turns the wheel. The pulley enables us to change the direction of force. Equipment   Meters Rule. Newton Meters.   Block of wood used for balancing.   Pen to record the results. Method   Firstly, I had gathered all the equipment and had set up the experiment. As I was accomplishing the experiment alone, it took me a while to conduct the experiment.   Secondly, I had started to conduct the experiment by placing the weights on both the sides so they can balance. As I had conducted the experiment before I achieved the desired results.   Thirdly and lastly after accomplishing the experiment I had put all the equipment back to their original places and copied down the results in a table format which are mentioned in the results column. Prediction I predict that as the distance decreases, the force required increases. I also predict that as the object moves away from the pivot, the effort required in less. Fair Test There was only one issue for the fair testing which is, mentioned below-   I had used the same Newton meter same time as it might not have the same spring inside which would have lead me inaccurate results. Safety While I was conducting the experiment there werent much safety issued to be observed but some of the safety issues are mentioned below-   I was careful, while handling with the weights as if they would have fallen on someones foot it could have been injurious. While carrying out the experiment, there were many people doing important work, I was careful not to cause noise pollution.   Lastly, I was careful while handling with the ruler as it was delicate piece of equipment. Results ANTI CLOCKWISE MOMENTS CLOCKWISE MOMENTS Distance (M) Force (N) Moment (NM) Distance (M) Force (N) Moment (NM) 4Nms Conclusion My results agree with my prediction and all the columns in the results table are balanced. In other words: ANTI- CLOCKWISE = CLOCKWISE Evaluation I believe that I have been successful in accomplishing the experiment as I achieved the results which I had desired. I also believe that I have achieved my goals which were to obtain perfect results. Even though I was successful in obtaining perfect results, I had encountered some problems which are mentioned below- 1. The first problem I had encountered was, while I was trying to balance the weights on the meter rule, I had kept on changing the positions of the weights from left to right as it would not balance both the ends even though my calculations were correct. 2. Secondly, I think there was some problem on the meter rule as the as the weights would not balance perfectly. 3. Lastly, I think there was some with the block of wood which was used to balance the meter rule. I think the plank of wood was defected i. e. chipped off. Some Simple Machines.

Red King Crab Facts and Identification

Red King Crab Facts and Identification They are the biggest and most sought-after shellfish in Alaska. What are they? Red king crab. Red king crab (Paralithodes camtschaticus)  is one of several king crab species. They entice fishers and seafood consumers with their snow-white (edged by red), flavorful meat. If youre a fan of reality TV, you might be familiar with red king crab, as they are one of two species (along with snow, or opilio crab) fished on Deadliest Catch. What Do King Crabs Look Like? As youd probably guess from the name, red king crab have a reddish carapace that can vary from brownish to dark red or burgundy. They are covered in sharp spines. These are the largest crab in Alaska. Since they dont expend as much energy in reproduction, males can grow much larger than females. Females can weigh up to about 10.5 pounds. The largest male on record weighed 24 pounds and had a leg span of about 5 feet.   These crabs have three pairs of legs used for walking and two claws. One claw is larger than the other and is used for crushing prey.   While it may not be apparent, these crabs are descended from hermit crab ancestors. Like hermit crabs, a red king crabs back end is twisted to one side (more drastically in hermit crabs, so they can fit into the gastropod shells that provide their shelter), they have one claw larger than the other, and their walking legs all point backward.   How Do You Distinguish Male King Crabs from Females? How do you tell males from females? There is one easy way: To keep crab populations healthy, only male red king crabs can be harvested, so if youre eating a king crab, it is most likely a male. In addition to size differences, males can be distinguished from females by the flap on their underside, which is triangular in males and rounded in females (this flap is larger in females because it is used to carry eggs).   Classification Kingdom: AnimaliaPhylum: ArthropodaSubphylum: CrustaceaClass: MalacostracaOrder: DecapodaFamily: LithodidaeGenus: ParalithodesSpecies: P. camtschaticus Where Do Red King Crabs Live? Red king crabs are a cold water species native to the Pacific Ocean, although they were also intentionally introduced into the Barents Sea 200. In the Pacific Ocean, they are found from Alaska to British Columbia and Russia to Japan. They are usually found in waters less than 650 feet deep.   What Do Red King Crabs Eat? Red king crabs feed on a variety of organisms, including algae, worms, bivalves (e.g., clams and mussels), barnacles, fish, echinoderms (sea stars, brittle stars, sand dollars) and even other crabs.   How Do Red King Crabs Reproduce? Red king crabs reproduce sexually, with internal fertilization. Mating occurs in shallow water. Depending upon their size, females can produce between 50,000 and 500,000 eggs. During mating, males grasp the female and fertilize the eggs, which she carries on her abdominal flap for 11-12 months before they hatch. Once they hatch, the red king crab larvae look similar to shrimp.  They can swim, but are largely at the mercy of tides and currents. They go through several molts over 2-3 months and then metamorphose into a glaucothoe, which settles to the ocean bottom and metamorphoses into a crab that spends the rest of its life on the ocean bottom. As they grow, red king crabs molt, which means they lose their old shell and form a new one.  During its first year, a red king crab will molt up to five times.  These crabs are sexually mature at about 7 years old. These crabs are estimated to live up to 20-30 years.   Conservation, Human Uses, and the Famous Crab Fishery After sockeye salmon, red king crab is the most valuable fishery in Alaska.  The crab meat is eaten as crab legs (e.g., with drawn butter), sushi, or in a variety of other dishes.   Red king  crabs are caught in heavy metal pots in a fishery that is famous for its dangerous seas and weather. To read more about red king crab fishing, click here.   Deadliest Catch- a crustacean lovers favorite reality series- tells the harrowing at-sea adventures of the captains and crew on  6 boats. But there were 63 boats in the Bristol Bay red king crab fishery in 2014. These boats caught the 9 million pound quota of crab in about  four weeks. Much of that crab is shipped to Japan.   As for the U.S., it is likely the red king crab you eat isnt caught by the fishermen on the Deadliest Catch  boats. According to  FishChoice.com, in 2013, 80 percent  of the red king crab sold in the U.S. was caught in Russia.   Threats to Red King Crab Populations Although catches of red king crab are steady at the moment,  recent reports  show they are vulnerable to  ocean acidification, a lowering of the oceans pH, which makes it difficult for crabs and other organisms to form their exoskeleton.   Sources Ahyong, S. 2014.  Ã‚  (Tilesius, 1815)Paralithodes camtschaticus. Accessed through: World Register of Marine Species.Alaska Department of Fish and Game.  Red King Crab  (). Accessed January 30, 2015.  Paralithodes camtschaticusAlaskan King Crab Company. How to Cook and Prepare Alaskan King Crab Legs. Accessed January 30, 2015.  Carroll, S. B. 2011. A Lesson of Genealogy: Looks Can Be Deceiving. New York Times. Accessed January 30, 2015.  Christie, L. 2012. Deadliest Catch Not So Deadly Anymore. CNN Money. Accessed January 30, 2015.NOAA FishWatch. Red King Crab.  Accessed January 30, 2015.  Soley, S. 2013.  From Ocean to Plate: The Life of the Red King Crab. EarthZine. Accessed January 30, 2015.Stevens, B. J. Adaptations of Crabs to Life in the Deep Sea. NOAA Ocean Explorer. Accessed January 30, 2015.  Welch, L.  Fish Factor: Strong 2015 forecasts for pollock, Bristol Bay salmon. Alaska Journal of Commerce. Accessed January 30, 2015.

For this part of the assignment you must research a Serious Case Essay

For this part of the assignment you must research a Serious Case Review concerning a child in the UK aged between birth and 16 y - Essay Example The court proceeding were held on 4th August, 2011 and was presided over by Judge Caddick. Child D was born in 2010 in Kent. The child and her mother resided at the same address immediately after birth. Kent County Council had raised concerns of the child even before its birth. The local authority raised fears that the child was not in good hands since her mother was viewed as her child herself. Her mother was under police protection in Surrey County Council but she principally resided in Kent. The only option left in regards to the custody of child was for the child to be taken up by foster parents in a location where they resided. After birth, Child D and the mother stayed under foster care in Kent after which the mother was transferred to police protection in Surrey County Council. However, Child D remained under the care of foster parents in Kent County Council (Family Justice Review, 2011). Kent Count Council had applied for the Custody of the child and they were granted. The ru ling was made in regards to Section 31(1) (a) of the Children Act 1989: â€Å"placing the child with respect to whom the application is made in the care of the designated local authority†. The 4th August, 2011 court ruling was an appeal on the case made by the Surrey County Council. ... At the same time Surrey County Council could not release the mother since she was under protective custody in the address. However, Kent County Council argues that they had the right to grant the child a proper family to enable it to grow in a normal family setting. Additionally, under protective custody the mother was not in the right position to raise the child effectively considering the limitations she had at protected custody (Family Justice Review, 2011). Legally, the case was against the arguments by Surrey County Council as the law stipulates custody should be granted to the local authority which requested for custody and the local authority to which the child was given birth to (Howe, 2009). In this case, the child and her mother were principally residents of Kent County Council and this was enough to grant the local authority custody of child D under the provisions of Section 31(1) (a) of the Children Act 1989. In this particular case, with the mother of child in protected custody and the child at a critical age the case became a serious case review with a lot at stake in regards to the most appropriate decision that would make the child comfortable. In an argument by Mawby (2008) a case concerning a child immediately from birth makes the case critical since its future life will greatly depend on the care it’s given at its first stages of life. The case of custody in regards to local authorities has been provided for by numerous legislations. In the U.K the role authorities in child care and protection is significant as the bodies are given great mandate to determine the status of each and every child in the counties. In the Children Act 1989, Local authorities are given great mandate to claim

Chinese Economic Reforms Research Paper Example | Topics and Well Written Essays - 1500 words

Chinese Economic Reforms - Research Paper Example The agreement presents significant competitive opportunities in the financial sector." (Ostry, et.al., 2003). As the Chinese economy continues to growopens up and competes with other industrialized economies, around the world, effective market and monetary policies and objectives demand close attention. Sustainable growth of the economy will be possible if viable macro and micro economic policies are in place and take into account such variables such as inflation objectives, flexibility of lending institutions in the face of changing interest rates, rate of credit growth, continuing economic reforms and exchange rates. The dissertation will first examine Chinese economic reform and compile a body of literature offering objective analysis of key elements of the reform process, with a bias towards monetary policies, exchange rates and inflation. This work aims toe sole significance of this endeavor is to investigate unearth the main economic reforms and monetary policiescardinal arteries informing and shaping the Chinese economic status especially in regard to short term and long term inflation and exchange rates. Secondly, the dissertation will examine the monetary policies adopted by PBC in controlling inflation and exchange rates. ... Theory1 The monetarist theory posits that mismanagement of the primary cause of inflation is how the money in supply is the primary cause of inflation. is managed. Inflation can also be linked toPrincipally, the cause of inflation is pegged on the flexibility of the lending process. As such, inflation will largely depend to a large extent, on how flexible or inflexible the lending institutions are and the levels of interest rates levels as well. Monetarists do no't believe that fiscal policies and taxation have very as having little effect on to do with controlling inflation control (Paul, 2000). Mathematicallaccording to the my, monetarists' theory, a product of the total value of money in circulation and the velocity of the money is directly proportional to the product of the average price level and the index of the real values of expenditures. expounds that M.V=P.Q In the formula: M is the total value of money in circulation, V is the velocity of money, P is the average price level and Q is the index of the real values of expenditures. Key highlights: a) the average price level is a variable influenced by the magnitude of economic activities(Q), total value of money(M), and the velocity of money(V) b) The key influencing variable of prices level is fluctuations in the amount of money available. c) If the velocity of money is constant (though in reality it is not possible) , the supply of money will determine value of nominal output. d) Assuming that the velocity of money is fairly constant, then the level of inflation will be equal to the difference between long run growth rate of money supply and long run growth rate of real