1. What is BREXIT? How does is impact Great Britain and what are the advantages and disadvantages? “BREXIT” is the process initiated by the result of the June, 2016 referendum by the British people to leave the European Union. As a result of this decision, the following has occurred in Britain: • Currency depreciation: Immediately following the vote, the British Pound depreciated against the dollar. Currently, the Pound has depreciated further. • Reduction in purchasing power: Trade relations have been impacted. Currency depreciation has resulted in imports becoming more expensive and export cheaper. Hence, the British people will be able to consume less imports. • Stock Market impact: The prices of stocks globally have responded to BREXIT. However, as …show more content…
• Loss of motivation to innovate or achieve competitiveness by the protected companies: In the long run, protected industries may invest into retaining their protected status instead of investing in R&D. Hence, this may lead to inefficient resource allocation in the economy. 3. What is Fair Trade? Why is it important and how does it impact the economy? Fair trade practices are ethical practices which a company engages in as to become socially responsible. It is important because it can foster social responsibility and ensure that people are not being exploited. Additionally, it helps promote the idea that production and trade need to be sustainable and initiates a trend of sustainable practices so that trade can continue in the future without leaving a harsh environmental reality for future generation. Such practices can be as such: a. Fair prices: Providing a price floor for producers and ensuring a living wage; b. Fair labor conditions: Not employing child labor and following health and safety regulations to ensure safety of
Therefore, the relations between Britain and the British North American colonies changes drastically after the war mainly in economics due to a national debt, mainly in land acquisition due to the probability of another war between major nations, and mainly in ideological relations due to
The American public was outraged some called for war. American government demanded an apology and return of the sailors. Jefferson ordered all British ships out of American waters. Jefferson wanted to avoid war and ordered an embargo. American industries suffered from the embargo.
After the victory, Britain had an abundance of territories to control. War is extremely expensive and Britain was in debt. Today, America also in debt because of the War effort and the amount is approximately $16.3 Trillion. It all began with Britain was enacting legislation that was imposed on the colonists both economic and political in an effort to raise revenue to pay their debt. There were enforcements of the Navigation Laws, Proclamation act of 1763s, Quartering Act of 1765 and the famous Stamp Act of 1765.
The war killed and wounded a huge number of potential workers, limiting productive capacities for nascent factories and farms across the country. Additionally, deprived of their guaranteed markets in Great Britain, the new country struggled to find new buyers for the goods it did produce. Inflation, too, was an issue; the new government had printed money and gone into debt to finance its war leaving it in desperate financial straits after winning the peace. The financial pressures on its allies and enemies was also immense. Britain saw dissension after the war, and the French monarch's support of the war caused further debt.
As a result of this ruling, it promotes competition and reduces
Soon after this was notified, trade with Britain was
Britain had built up a great debt and the colonies were a financial burden to run, to try and resolve their problems the British instituted various measures
This hinders the growth of industrialism, because the working class is hurt by the unfair laws and lack of regulations imposed on
• Ensuring the 8 hour work day and paid overtime. • Securing workers' compensatory benefits for workers injured on the job. • Securing unemployment insurance for workers who lose their jobs. • Securing guaranteed minimum
For 10 years or so years, Great Britain experienced a deteriorating relationship with her 13 colonies in North America. The Revolutionary War was a direct cause of this poor relationship. There were many events that caused turmoil but there were several key events that turned the table. British Parliament, in 1765, adopted the Stamp Act, which levied taxes on paper for to generate higher revenue from the colonies. The colonies responded with the Stamp Act Congress who simply opposed this legislation.
For example, The Declaratory act was in favor of the British since there was no opposing force upon its upbringing, due to the colonist basically ignoring its presence. Continuing to celebrate the repeal of a previous policy gave the British government space to work with in order to conjure up more policies, hurting the colonists. Unlike the reaction of the Declaratory act, the Tea Act, respectively, withdrew an exaggerated response from the colonials. The Boston Tea Party is the iconic ideal of outraged responses, puting the British in deeper debt than before. While this was a huge inconvenience to the British it was harder on the colonials when backlash occurred, resulting in a full drive towards independence from Britain, winning the American Revolutionary War, and squandering all British control.
Once this happened the colonists wanted to fight back for their freedom. So it means that the Boston Tea Party started a lot for the American Revolution and it brung all the colonies together. The Boston Tea Party was caused mostly because of taxes that they were getting from the British Parliament.
Although the British proved to be triumphant in the war, they lost a lot of money and a lot of soldiers. During the course of the years, Britain wanted economic relief and turned to the colonies. After the War, amplified British taxation on the colonies ruined the relationship that they had with the colonies. The British said the taxation
Question: Evaluate whether the Westminster model system of government adopted by English speaking Caribbean countries accommodates corruption as a way of governance. The Westminster system is a democratic parliamentary system of government modelled after the British parliament in Westminster. In essence it is a system of rules and strategies, which allows the legislature to meet and carry out various tasks. In the case of the Westminster system, it includes a head of state in the form of the monarch, a parliament with the government and the opposition.
Throughout human history, migration of human beings is a pre-requisite of human progress and development. Without migration, human being would be doomed to an existence worse than that of the animals. A lot of people tend to migrate to seek a better life. The migration of people from one country to another country is not a new phenomenon. Since early days of colonialism, the colonial powers travelled around the world in search for raw material and new territory.