Singapore Economy Case Study

The Berlin Wall and Great Depression were over and the new era came upon to spark the beginning of the 1950’s. The typical focus of this era was to protect families individually and preserve domesticity, and hold certain standards too succeed in life. To include, that in 1950’s, there was much improvement when it came to working and jobs. There were more white collar jobs in the office and other administrative settings such as: advertising, marketing, etc. After the Cold War, there was a vast Economic boom, people were earning money and putting money in the banks more than ever before.

Our nations strong will and determined attitude paved the road of early industrialization in the early and mid 1800 's. The steamboat, transcontential railroad, and Erie Canal were early accomplishments in transportation that began to push our country towards bigger and better feats. In the 1800 's American economy boomed, American affairs became more successful, And Americans began to disperse all across North America. The political, economic, and social changes brought about by developments in transportation from 1820 to 1860 caused the nation to prosper and spring towards our country 's long desired belief in manifest destiny. The rise of transportation mechanisms ultimately increased the employment rates and caused land ownership to become more common.

With the population growth from the 13th, 14th, and 15th amendments, people were working. The first bank of the United States charters in 1791. The discovery of gold in California brings plenty of economical attention to the United States too. Consequently of the political and social improvements in America between 1776 and 1870, the United States becomes stronger economically and is able to have inventions created that otherwise might not of if it weren 't for the foregoing changes. Altogether, America has become a fitter place due to the political, societal, and economical improvements.

All that this condition amounts to, then, is that there must be some discernible regularity in the world, which makes it possible to predict events correctly.” Yellen is doing exactly what Hayek predicted would happen, trying to influence economic factors such as directing interest rates to control the proverbial bubble from popping. Yellen is the epitome of the Keynesian theory, which is to manipulate economic conditions and steer it into a particular direction (i.e. : lowering interest rates and stave-off unemployment). “The founding patriarch was John Maynard Keynes, Yellen’s hero. Keynes was a member of the Bloomsbury group.

The Atlantic Slave trade was important as it created the initial demand for the devolvement of English exportation of manufactured goods. C Knick Harley comments in his work that “by 1770 trade (British Trade) with the Americas rivalled that with Europe”. Eric Williams believed that the cotton trade with the colonies, played an important role in the generation of capital, however this industry only come to fruition after 1800. This industry could not have had a significant affect in generating capital. It was an attribute to the textile industry in England however, its importance in underwriting the Industrial Revolution is unlikely.

Our laws are still meant for business done by individuals; they have not been satisfactorily adjusted to business done by great combinations, and we have got to just them.” (Wilson 22) Not only does that line apply that the United States of America should evolve it also shows how Wilson himself thinks. Woodrow Wilson is a product of the Victorian age of thinking that took place in the United States. However Wilson demonstrates his application of this thinking with the understanding that the times no longer wears that suit. Progress and change to the economic base and structure is an understanding that Wilson had while preparing for his speeches for his campaign tours. One such change, to the economic structure, was to change the laws surrounding it.

But after the civil war there were many changes which took place in United States and their wealth also increased. After World War II, the United States emerged as economically stable and prosperous country. American companies were growing rapidly and both major parties of World War II were committed for making Economic reforms and keep unemployment low. Therefore the United States led a system was developed called as Bretton Woods system to equally divide the share between the nations. The US dollar was made common currency for trade which made the United States a global leader and it was advantage for United States companies to do trade in their national currency.

Between the year of 1865 and the year of 1920, the United States moved towards becoming a more industrialized and developing society. With this change taking place, resulted in improvement with how people live with family and earned money differently. The three major aspects of industrialization during the 1865 and 1920 that influenced the politics, economy and society of the United States are: entrepreneurship, technology, as well as transport and communication network. Entrepreneurship: the period after the Civil War from 1865 to 1920 was characterized by fast economic growth in the country. During this time period, real per capita product in the United Stated more than doubled and real Gross Domestic Product multiplied by over 7 times (Lamoreaux, 2010).

By having two different styles of government, Friedman thought the government would infringe on people’s individual rights. An author from a previous reading that would agree with Friedman, would be Thomas Jefferson. Friedman believed that capitalistic economies are the reason why society is freer than any other time in history. This is similar to Jefferson due to his asking for departure form Great Britain. By leaving Great Britain, the Colonies were not under British rule any longer.

The first effect of Industrial revolution is about the economy. Before industrial revolution, there was one problem in the American economy. That problem was labor shortage. Industrial revolution solved this problem. As Corona Brezina explained, “The new industrial production is the labor-saving methods in American industry.”8 New industry can let less worker to make more products.