Mercantilism

Countries trade with each other when they lack in resources and also are inefficient to satisfy their own wants and needs. The production of goods and services in countries that need to trade is based on two fundamental principles, first analysed by Adam smith in late 18th century. Adam smith focused on only one factor of production i.e. labour. The other important principle is comparative advantage by David Riccardo, who also considered labour as the only unit of input. There are many advantage…

The concept of perfection can never actually be attained, as our world creates inherent deviations. Even though some concepts like communism sound workable in theory, the real-world application yields a far less desirable outcome because it comes into conflict with the force of human nature. Disconcerting tendencies within human behavior manifest themselves in several different ways, and Incidents in the Life of a Slave Girl by Linda Brent explores the institution of American slavery as an…

Perhaps a staple of the diets in many developed nations, my favorite dish is the traditional hamburger with fries that is typically found in most fast food chains in the Americas and Europe. Hamburgers are an extremely popular dish across many nations, and there are many sociological reasons that the dish is favored, in addition to the arguably almost addictive ingredients and chemical additives added in the most popular servings of this dish. Despite the many qualities of the current hamburger…

The entire world was impacted with the Islamic civilization. Areas of commerce, technology, medicine, navigation, astronomy, and other scientific areas were touched by the hand of new discoveries brought forth by the learning centers of the Islamic world. The Islamic caliphates had an economy that was flourishing due to the established trade routes. The procession of people trading through the region also spawned the development of technologies, ideas, and spread the religion of Islam across…

“What developed was mercantilism - the colonies in the new world served as a consumer of the products provided by the mother country and the new colony provided the raw materials back to the mother country.” (Cavnar, 2011) In a search of gold through Florida leading across the…

Constantinople primarily built by Constantine the Great was the capital city of the Byzantine Empire that ultimately fell to the Ottoman Empire in 1453. To begin with, the downfall of Constantinople substantially impacted the world economically. Moreover, Constantinople’s fall vastly influenced the world through political matters. Furthermore, the fall of Constantinople affected the world culturally and socially. Thus, Constantinople’s fall to the Ottoman Empire had very much influence on the…

The pre-industrial era was one of new lands, new wealth, and new ideas. It was a time where growth seemed not only sustainable, but rather necessary and admirable. That being the case, many an author sought to understand this new growth, to make it applicable to the their fellow citizenry, to guide the thoughts of those around them in the way they saw best fit for the benefit of society. Through these various thought experiments, our authors came to manifest seemingly radical notions of wealth…

Perestroika is widely regarded as one, if perhaps not the sole reason, that the Union of Soviet Socialist Republics, or U.S.S.R, came to a dissolution on December 26th, 1991. The economic reforms that it pushed for and prompted are what allowed non-communist aspects to be incorporated into the Soviet Union and caused an uproar in political reforms such as Glasnost and the eventual fall of a traditional eastern communist system to a new western style capitalist system. To understand why…

Napoleon- A brilliant General who overthrew the French directory in 1799, and 5 years later became emperor in 1804. His rise to power marked the beginning of popular authoritarianism- in which the ruler has absolute power, and people's freedoms are limited. France prospered under him. However, his downfall came when he tried to invade Russia in the winter, and was forced to retreat, and lost majority of his army on the way home. Karl Marx- A German journalist and philosopher, who founded the…

In his book, The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War, Thomas J. DiLorenzo questions validity of the revered symbol of emancipation that is Abraham Lincoln. Found within the pages of The Real Lincoln is a series of allegations towards Lincoln and his legacy. Throughout the work, DiLorenzo questions both the actions of President Lincoln’s Administration and the intentions. DiLorenzo claims that Lincoln used his power as the President of the United States…