France faced the worst subsistence crisis since 1709 caused by the poor harvest of 1794 and the long and harsh winter of 1794 to 1795 (Price, 147). Poor people suffered from this problem the most. When France was divided into three estates, the third estate had to pay the taxes. The reason why the poor people suffered the most from the poor harvest of 1794 because, harvesting was how they made a living. With the poor harvest, many people starved of no food.
French Revolution Summary There were 4 main problems which led to the French Revolution. First, money was big problem before the Revolution because France was going bankrupt due to a huge national debt. Secondly, there were three bad harvests, the 3rd estate wasn’t able to pay taxes, and there wasn’t enough food for everyone. The 3rd estate was literally starving to death. Third, the king tried to call an Estates General to get help from the 1st, 2nd, and 3rd estates to solve the debt problem, but the goals were impossible to reach and the 3rd estate was left out.
In 1789 the French Revolution began with King Louis XVI being the king of France. Before the revolution began there were many problems within the country of France. There was a brutal winter which made the lands bad which caused a shortage of crops like wheat. Bread was a staple food in most homes and when the flour got expensive so did the bread. The cost of bread rose so high that it equalled a month’s earning.
King Louis was responsible for the outbreak of the French Revolution in 1789. A king by definition inherits his position by right of birth, but like most Kings, Louis XVI also inherited the inadvertence of the previous ruler of France, his grandfather. Despite this misfortune, he proved to be more than incompetent to do his duty as ruler of France. His autocratic and neglectful style of leading led to his downfall and his poor decision making economically and politically only cemented it. The social system in France had already been flawed many years before Louis XVI came into power.
But this doesn’t mean he didn’t do anything to change the world, one of the things he did to change the world was that he helped in moving the British out of India. Many Franco-Indian alliances were formed between France and Indian armies between the 18th century to the reign of Napoleon. Following the huge alliances of Dupleix, an alliance was created by Louis XVI's France during the late 18th century in an attempt to move or kick Great Britain from the Indian subcontinent. After that, numerous proposals of alliances were created or formed by Typo Sultan, leading to the destroyance of a French fleet of volunteers to help him, and even creating an effort by Napoleon to make an agreement with India, throughout the 1798 Campaign of Egypt. In the late 17th century François Bernier (1625–1688), a great and famous French physician and traveler, became announced for 12 full years the personal physician of the great Mughal emperor Aurangzeb.
Barclays couldn’t gain much of a profit because the country was suffering from financial crisis which left several companies being shut down. The manipulation of Libor rate left several industries under huge debts during the crisis and the financial crisis worsen up because of the debt individuals were in. Barclays didn’t gain but it lost a lot after the Libor scandal was revealed as the bank was being fined for its involvement in the manipulation of Libor rates. Barclays reputation as the largest bank was tarnished after the scandals were revealed. Barclays lost more money than they could have made by the fines they are currently paying for their role in the manipulation of the Libor rate.
France was overridden with problems in it’s economy, political standpoints, and social classes that fueled the push towards a revolution. The French monarchy was “burdened with massive debts accumulated through military expenditure in the Seven Years’ War and the War of American Independence, unable to raise enough in taxation to pay down the debts, coming dangerously close to borrowing more simply to keep the government’s candles lit, Louis XVI’s ministers were, by the mid-1780s, in dire straits” (Andress). Peasants had to bear the heaviest taxes, despite having the least to spare,while bad harvest led to the threat of starvation for peasants as bread prices dramatically went up (Kagan). The government was scrambling to fix its financial issues, all while angering the middle and lower
He is considered a bad king for his poor leadership and for causing the French Revolution as he lived a very luxury life during such a difficult period full of difficult economic times. King Louis XVI was considered an immature and childish ruler for his quite young age and the decisions he made which were generally not appropriate and led to political and civil confusion. He made a smart decision by marrying the queen of Austria Marie Antoinette, but at the same time he was unlucky as her
Because of such high amount of subprime loans, home owners began to default on their payments impacting the rest of the economy through CDOs. Faulty rating given by agencies such as S & P to these toxic CDOs also contributed. The AAA rating induced a wide variety of investors to invest in these CDOs which multiplied the impact when loan defaults took place. Commodity Futures Modernization Act (2000) was also party responsible as it allowed derivatives (such as CDOs) to be unregulated. SEC raised the leverage limit for investment banks from 12:1 to 30:1 increasing the investment banks'
Lastly, there is everyone else (the peasants) which made up the rest of the population 99%. The actual breaking point of the French Revolution was the meeting at the Versi Palace or so it is labeled. The meeting started off in the palace with all three social class having representatives. The poor were afraid of being given more tax while the wealthy was afraid of their money being taken along with their titles. The king himself was terrified of his title as the