Gold was often a primary currency but over time it began to become expensive and laborious to continually mine. The introduction of silver as a major form of currency caused ripples of effects in many aspects of society and practically replaced gold in importance. Most notably effected were nations' economies (improvement of economies, loss of revenue) and societies (East actively seeking silver) but the effects on economy were often more influential because flourishing economies often brought new or expanded power for nations. (467,23,158) One of the largest shifts in global economy is that you see a huge increase in many countries imports and exports leading to more money and better financial standings. Document four describes a circle
However, they at times go hand in hand and at other times, they do not. Deflation is actually good for gold as opposed to people’s belief that it is bad. Owning gold during the time of deflation in America was like “hitting the jackpot”, as people often say. The value of gold appreciated, and anyone who went to sell or trade in theirs was sure to get double or more the amount they had bought or traded it for. Since most people used the gold bars to buy shares, their dividends would of double, redouble, and double again.
Money, the object of many desires, is a commonly used way to determine people’s place in society. Many make earning money their goal to strive for. This universal currency has become an aspect of what makes us human, and what allows us to be stable in an uncertain future. Though for some that desire for more wealth goes too far, causing what has become known as corporate greed in companies, which has become ever so prominent in society. With there being United Sciences of America in the 1980s, one of the largest pyramid schemes in history (Barrett), De Beers, the largest diamond company in the world, intentionally inflating the value of diamonds (Roberts), and Drug companies increasing the prices of necessary medicines to earn a large profit
These newly discovered resources caused Spanish trade and commerce to flourish. Silver was the main source of wealth in the Spanish colonies in the Americas. However while this was nice for the Europeans initially, the surplus of silver flooding European markets, as well as some Asian markets caused inflation where the value of silver decreased while the prices for products increased. The colonization of the Americas also led to the Columbian exchange.While this had a profitable impact on the Spanish, it had a detrimental impact on the Natives. The high demand for their products in Europe caused the Spanish to establish the ‘Encomienda’ system, a new labour policy where Spaniards were given legal rights to American lands and possession of
In Robert Reich’s documentary “Inequality for All” he demonstrated a great balance of emotional and logical appeal, which resulted in getting his point across to the audience. Reich argued that America is a consumer-driven economy and for it to achieve the middleclass should have more purchasing power to keep the economy as strong as it once was. From the beginning of the documentary I began to trust him by examining that he has an honest and comedic personality. The part of the documentary that interest me the most was the comment that CEOs worry more how fat their pockets are rather than worry if they have enough employees and if those employees are paid correctly. Overall, I view Reich as someone who does not point fingers towards the
In recent years large companies have also been paying their workers higher wages. And the more profit a company makes the more it benefits the economy. “Americans think the U.S. economy benefits when big businesses or small businesses make a profit, although, by 84% to 64%, more consider small-business profits helpful”(Saad). Although those are some supporting facts for large businesses in America, they are too powerful and too rich. In the past and even in present time large companies generally hurt their consumers and workers.
However, the price did not remain stable and it drop sharply to $35.02 / barrel after 1 year. In 1992, the price grew marginally $36.40 / barrel and after 2 years later, the prices plummeted and dip suddenly in year 1994, only $23.68 / barrel, which was one of lowest prices in crude oil’s prices in 4 decades. After 1994, there was a surged in price of crude oil and in 1997, it reached to $ 37.65 / barrel even though the prices swing between $27.27 and $33.23 within 3 years. The price of crude oil showed downward trend throughout the period of 1998 and it fall to the lowest, $17.37 / barrel in 1999 and it had direct impact on reducing number of rigs due to the low prices. In 2000, the priced rocketed to $45.25 / barrel even though the price reached to lowest in year 1999.
This way the governments more effectively controlled trade and financing the militaries and growing the country’s territories ( Dincecco). However, the economy was constantly growing and the countries increased their capital by reserving gold and silver. It is the point where Pomeranz (Pomeranz) is right about the Atlantic trading system supported Europe to evasion the Malthusian trap but he underestimates the role of the states. The British consciously applied
Conclusion: These graph shows price of gold in each day. The vertical x axis represents months and y axis represents price of gold. If today price of gold is down people will buy gold for to profit when price of gold is up, and price up people don’t to buy gold. So causes of price of gold is effect with people who want to buy and sell that people should buy or sell the gold or not? If people who buy the gold when price is down people are happy but when price is up people feel so bad because it is expensive.
When we raise money up to the point of idolatry and convince ourselves that it is the key to happiness we can always find a way to justify the worst of actions. Most of the wealthiest people in our society have probably had to do some questionable deeds to stay wealthy. Our society seems to view this as a necessary evil to rise to the top, but that is justified in the end. President Trump has been continually praised for his dealmaking and financial success, while his questionable morals have been repeatedly justified as a result. This is just one example of how success has come to be defined by how much money you make, no matter how you made