For several reasons south Asia has a special place in the history of microfinance. Historically the societies and economies were debt ridden and credit constrained. The major reason for this was due to because south east countries were some of the first major credit schemes for the poor outside in Europe in the early twentieth century. In the late twentieth century, south East Asia was also in the forefront of the revolution in the microfinance, with MFI’s in Indonesia and Thailand reaching larger proportions of the population than their counterparts in any other country except than Bangladesh. The less fact known to the world is that the continuing importance of pawnbroking in south East Asia.
The late nineteenth century was a pivotal moment in American history. During this time, the Industrial Revolution transformed the nation, railroads had dissipated all throughout the country, and economic classes began to form, separating the wealthy from the poor. One of the wealthiest men of this generation was Andrew Carnegie, a Scottish immigrant who fled to America to make millions off the railroad, oil and even steel businesses. Carnegie is considered one of the richest men in history, and even with all that wealth he decided to give back to the community. As a matter of fact, Carnegie donated most of his funds to charities, universities and libraries in his last few years.
The Gilded Age was one of the most important eras of the American country that pave the way for new social and economical changes of the country. There were many industrialist that emerged throughout this time. John D. Rockefeller was an industrialist and the founder of his own Standard Oil Company. Rockefeller used horizontal integration, which meant that he bought out all of his competition which allowed him to raise and lower his prices at any rate he desired. This caused his income to skyrocket and he made a fortune.
Direct Taxiation was a tax on the wealthy or very rich, they got lucky though its not like todays taxes. The rich only got taxed when needed usually when there was a war going on. Indirect taxes was a differnet story they were taxes that were levied on houses, slaves, herds, flocks, wines, hay and anything else they could see potential in. Currency was one of last things that made up the Economy , early currency was made up of an alloy of gold and silver. Later on they started making coins out of pure silver they got all the pure silver from the mines of Pangaeon hills.
The late nineteenth century was a pivotal moment in American history. During this time, the Industrial Revolution transformed the nation, railroads had dissipated all throughout the country, and economic classes began to form, separating the wealthy from the poor. One of the wealthiest men of this generation was Andrew Carnegie, a Scottish immigrant who fled to America to make millions off the railroad, oil and even steel businesses. Carnegie is considered one of the richest men in history, and even with all that wealth he decided to give back to the community. As a matter of fact, Carnegie donated most of his funds to charities, universities and libraries in his last few years.
In his mind, Thoreau was able to buy dozens of properties with riches that he did not own. “I had but ten cents in the world…” (380). The writer clearly did not have an abundance of wealth in any way, shape or form, but the money he had is not what made him rich. His humility in any situation is what made him rich. His attitude in any aspect is what made him wealthy.
He takes pride in saying that there are more wealthy jews in the world than Christians. Christians may be more in number; whereas the jews are scattered all over. The jews are rich but they cannot be rulers because of their sparse numbers. Barabas is one of those affluent jews. However, all his riches dose not give him power.
Because of these unions, it is usually much harder for the largest corporations to exploit the local labor. Meanwhile, if they move the factories overseas in countries without such unions, they don’t come up against such issues. There are constant problems inside the factories about the exploitation of the workers (Khan, 2012; BBC, 2006; Zhang, 2012). Exploiting others’ work has long been a way to get rich. The entire feudalism system was based on the exploitation by the powerful (Brown, 1974).
First, mercantilism and distribution of resources. As Acemoglu, Johnson and Robinson (2001) say, the main objective of the Spanish and Portuguese colonialists in the 19th century was to obtain gold and silver from America. As a matter of fact, Spanish conquest of American land was directed at first at the Aztec and Inca empire, which, beyond of having large supplies of food and climatic diversity, also possessed enormous amounts of gold and silver (Bakewell 2004, Mann 2005) and had already good economical organisation. Another example was Mexico, which had the largest deposits of silver in the world, and which therefore became one of the key points in the Spanish empire (Hamnett 1999). Nevertheless, Acemoglu (2001) states that for instance the Spanish empire granted rights of exploitation for lands, gold and silver mines, as well as labour, to a few powerful individuals, encomiendadores.
Sierra Leone reaps major economic benefits due to diamond mining. In 2015 they exported over $150 million dollars worth of diamonds. The revenue gained from these exports helps the government to rebuild its infrastructure, education systems and health services. Although this is a very positive modern economic benefit of diamonds in Sierra Leone it came at a great social cost in the 1990s. During the 90s diamonds in sierra leone became known as ‘Blood Diamonds’, not because of their colour but because of the human suffering and conflict they caused.