Black in Latin America - 688 Words

Black in Latin America: Haiti and the dominican Republic 1) How did Haiti and the Dominican Republic begin? What European countries influenced the development of these nations? - Haiti and the Dominican Republic is an island with two countries of Hispaniola. Haiti makes up 1/3 of the island while the Dominican Republic makes up the rest of the 2/3 of the island. The Dominican Republic contains a mix blood of Afro-European population with the history of Spanish colonialism, while Haiti has African-caribbean population with the background of french colonialism. 2) What role did colonization have in the development of the concept of race in the Dominican Republic? What are the differences between the concept of race in Haiti and the†¦show more content†¦My worldview did change watching this video. On an island that is so diverse with many different races and cultures and the fact that the island has to be divided due to their differences makes me blame the past. Because of the people from the past that created racial issues on their own and did not know how to deal and understand each other, makes how those countries are today with each other which i s distraught and disorganized. These nations are trapped by historicalShow MoreRelatedGeorge Reid Andrews Afro Latin America1584 Words   |  7 PagesGEORGE REID ANDREWS: AFRO-LATIN AMERICA In this paper, I would arguer that the history of USA is intertwined with the issue of Blacks – their enslavement and freedom but it has not as yet been focused that this subject has far greater impact in Central and Latin America, thus the greater impact of blacks in Central and Latin America would be the main theme or argument of this paper. This book, Afro-Latin America by George Reid, is the first attempt to focus on this side of the African DiasporaRead MoreThe American Of Latin America944 Words   |  4 Pagesstatesmen in Latin America began to adopt ideologies of race mixture in an effort to advance nation-building projects based on notions of inclusion and racial equality. These notions which where said to promote racial inclusivity included mestizaje. The ideology of mestizaje often times enabled exclusion through racial terms and marginalization. In order to grasp how such an ideology has created a paradoxical and contradictory outcome politically, economically, and socially for black communities inRead MoreRace, By John Davidson892 Words   |   4 Pagesconstantly in many sources and evidence of the past. This has led many historians to merely regard race as another mode of explanation, which is the case for studying race in Latin America. One historian, John Davidson (like a few others) are somewhat doubtful about the concept of race. He like many others fears that it is way too clumsy to describe as well as too complex. Many historians do not like using concepts that are fabricated. As Davidson says â€Å"race exists as a socially constructed realityRead MoreRace And Gender Has Not Only Shaped The Lives Of People881 Words   |  4 Pagescolonial Latin America as well. The hierarchical system in colonial Latin America was that people of whiter skin enjoyed more privilege (white privilege as a category of whiteness) and more power than people of darker skin. In terms of gender, men were seen as superior to women. The issue of racism developed since colonial times, where people of darker skin were the ones who have been oppressed by people of lighter skin, one example of this was slavery. Interestingly, in colonial Latin America, one’sRead MoreAn Active Role in Shaping History Essay1590 Words   |  7 PagesAn Active Role in Shaping History From the beginning of their colonization and enslavement, the histories of the Africans and the African-descended were shaped ultimately by outsiders. The colonization of Africa, the Caribbean, and Latin America were all controlled and executed by the Europeans. The slave trade and plantations were also under the power of whites. Even the emancipation of slaves, though the African-descended definitely contributed, was mostly shaped by and a result of decisionsRead MoreEssay on Ethnicity and Latin America1140 Words   |  5 PagesEthnicity and Latin America Latin America and the American colonies were â€Å"tamed† based on completely different ideologies. From a Latin American perspective, the most important of the European explorers were of course, the Spanish and the Portuguese. 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1994 Dbq Apush Essay - 666 Words

Kevin Li 1994 DBQ APUSH To what extent was late 19th century and early 20th century US expansionism a continuation of past US expansionism and to what extent was it a departure? Over the years the United States expansionism has experienced many different changes. The United States has expanded for many different reasons such as the economy, land, and even God. Expansionism is now a continuation of past United States expansionism but was more so a departure. The United States has progressed economically and as a result methods of expansionism have evolved but it also tried to stay with the ideals of the forefathers. In Document C the importance of naval power is expressed and it outlines the obligations: the†¦show more content†¦All of the major departures show hints of the United States forefather’s ideals. The expansion into foreign lands comes from Manifest Destiny and the idea that the Anglo-Saxon, or WASP, was mandated by God to expand into these territories. In Document B it states that â€Å"The race of unequalled energy, with all the majesty of numbers and the might of wealth behind it-the representative, let us hope, of the largest liberty, the purest Christianity, the highest civilization.† Although the continuation of the United States expansionism was limited, they continued to stay true to the Monroe Doctrine. The Roosevelt Corollary comes directly from the Monroe Doctrine which protected the rights of struggling Latin American countries and their fights for freedom. â€Å"Chronic wrongdoing, or an impotence which results in a general loosening of the ties of civilized society, may in America, as elsewhere, ultimately require intervention by some civilized nation, and in the Western Hemisphere the adherence of the United States to the Monroe Doctrine may force the United States, however reluctantly, in flagrant cases of such wrongdoing or impotence, to the exercise of international police power.† This is stated in Document F. Like anything i n the world with good continuations comes bad continuations, for example the people of the United States never fully recognized immigrants or Native Americans as

Summary Pearl Harbor - 808 Words

Blake Austin Mrs. Dennison Language Arts 11 6 December 2016 Pearl Harbor Gowrie, Iowa native, Orval Hasty needed money to attend college, so he joined the marines in 1940, he ended up earning this money after the war. He got assigned at Ford Island to guard In February 1941. Around the 450 acre island there were other vessels and battleships. Orval said, It was good duty. The climate was nice, we weren t overworked and it was fun, with regard to the Naval Air Station Ford Island. When not at work Orval attended flying lessons, visited shows, and hung out at beaches. Sleeping in on Sunday mornings was normal for Marines and Sailors not on duty. Orval got up early asking his parents about his driver’s license through the mail. Orval didn’t know what was about to happen. No one knew. Before dawn 183 Japanese bomber planes, torpedo planes and fighter planes took flight on their way to Pearl Harbor. Wave two came later. We didn t think much of them. With all the ships, we felt secure, Orval Hasty stated about Japan. Just before 8 in the morning, this statement changed. Orval heard planes from barracks so he went outside. There were explosions and gunfire. It was a furious deal. The sky was filled with planes, flames, smoke and dust, Orval said. He was scared, but he quickly joined the battle. I was too young to do much thinking, Orval added. Orval was ordered to distribute information about the attack to the officers. He got in a truck and headed off. Near theShow MoreRelatedBattle of Pearl Harbor975 Words   |  4 Pagesanalyzed Editors’ (2012) view of the causations of the Japanese attack on Pearl Harbor and the planning of the Japanese and U.S. military commanders on the attack of Pearl Harbor. Also, this paper will suggest that World War II started in Japan years before historians believe the war was initiated in Europe. 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European origins of economic development - MyAssignmenthelp.com

Question: Discuss about the European origins of economic development. Answer: Introduction Australia is well known for its mixed economic structure and highly developed nature. It is one of wealthier nations of world. Both in terms of nominal GDP and PPP-adjusted GDP Australia is ahead of several nations. When compared with per capita GDP, Australia ranks ahead of Canada, Germany, UK and France. Agriculture in Australia constitutes 3% of GDP. The large stock of natural resources especially minerals helps to build a strong mining sector. Despite having several industries, the contribution of manufacturing in economic growth has declined in recent years. This gap is filled with growth of service sectors especially financial services. Four largest banks in Australia are listed among 50 safest banks of world. Australia has a comparative advantage over a range of goods and services including products with high technology like scientific and medical equipment, processed food and high quality wine. The service exports of Australia include tourism and education, financial and prof essional services. Along with domestic sectors, trade has made significant contribution to economic growth of Australia. In the current research paper, performance trend of Australia is evaluate using some of the basic indicators. Economic growth is captured from the movement of real GDP which in turn affects employment and price level. Cash rate controlled by monetary authority influences investment and growth. The performance of external sector depends on the trend exchange rate and balance of trade. Performance Analysis Evaluation of economic relation between GDP and other important variables Gross Domestic product of a nation is measure of the value of goods and services of a nation in money terms. All the produced goods and services are evaluated in terms of their market price. Now, there are two approaches for computing GDP. One is to use market price for the accounting year and other is to consider prices of a fixed based year. The former is called nominal GDP while the latter is known as real GDP (Baumol and Blinder, 2016). Real GDP being adjusted for inflation is a more accurate measure of economic output and hence growth. For this, while evaluating economic growth of Australia real GDP is used. Figure 1: Trend in real GDP (Data source: data.worldbank.org, 2018) The figure above shows trend in real GDP for the chosen sample period. Mean growth rate in Australia for the period is 3.1%. The growth rate has constituted a fluctuating trend flowing crisis in domestic and international economies. A steep fall in the growth rate is experienced during 1991. The growth becomes negative. The tight monetary policy undertaken by Reserve bank of Australia is one major contributor of negative economic growth during this time. However, the economy gradually recovered and attained a maximum growth rate of 5.1% in 1999. Beyond 1999, the growth rate though fluctuates and undergone with some upturn and downturn but remain positive and around its average trend. Australia being closely related with United States was supposed to be affected from mortgage crisis occurred in US during 2008 (Easterly and Levine, 2016). However, the support from Australian government in the form of a stimulatory package of $11.8 billion and a relatively strong banking and financial s ector has helped to minimize the recession risk. Growth rate though fell after 2008 but remain positive and close to 2%. GDP is the sum of expenditure incurred in an economy in the given year. It includes consumption expenditure, investment expenditure, government spending and net export. Therefore, each component has direct relation with GDP (Acemoglu, Laibson and List, 2017). After analyzing trend growth rate now the relation between GDP and other macro variables are examined. Correlation matrix Correlation is a statistical tool to find out a general relation between two or more variables. The correlation between GDP and chosen variables is computed using general the historical data of twenty-six years. Table 1: Correlation between GDP and five indicators Real GDP growth rate Interest rate (Cash rate) Unemployment rate Inflation rate Exchange rate (AUD/US) Net export Real GDP growth rate 1 Interest rate (Cash rate) -0.08 1 Unemployment rate -0.13 0.28 1 Inflation rate -0.03 0.64 -0.23 1 Exchange rate (AUD/US) 0.20 0.04 0.26 0.08 1 Net export 0.23 0.26 0.55 -0.02 0.85 1 The correlation matrix shows GDP has a positive relation with some variables and negative relation with some others. The variables with which GDP is positive related include exchange rate and net export. The variables such as interest rate, inflation and unemployment rate constitute a negative relation with GDP. There are economic explanations behind the statistical relationship obtained from the collected data. The first variable considered is the interest rate. The interest rate that is taken here is the cash rate or the rate charged by RBA on loan borrowed by commercial banks from the reserve bank. When RBA charges a high interest rate then this means a high cost for commercial banks for borrowed capital. This high cost is reflected from the interest rate charged by these banks on borrowed fund for investment. The investors when experience a high interest rate then they reduce their investment (Agnor and Montiel, 2015). This by contracting productive activities reduces GDP. Opposite is the case in times of a low cash rate. This explains the inverse relationship between the two variables. The unemployment rate in the economy is negatively related with GDP growth. The economic rationale behind this is quite simple. A growing trend in GDP means expansion of output. Expansion of in production of goods and services means a greater demand for labor force and hence a reduced unemployment rate (Madsen and Olesen, 2016). Inflation is both a cause and effect of higher GDP. When GDP grows, average income of people rises, demand enhances and push prices up. From the other end, when price level rises because of increased demand then more goods and services are produced and hence bring economic growth. However, for Australia inflation has resulted from increasing production cost and hence raises debt of household and business (tradingeconomics.com, 2018). Therefore, in case of Australia an opposite relation between inflation and GDP growth is found. The exchange rate represents the cost of purchasing some other countrys currency in terms of its domestic currency. The unit price of US dollar in terms of Australian dollar is considered for analysis. A rise in exchange rate means Australia now have to pay a higher amount to have one unit of US dollar than earlier. This deprecates Australian currency while appreciate US dollar. People in US now can demand a larger amount of Australian goods and service. This stimulates export demand and brings economic growth (Horwich and Samuelson, 2014). Therefore, a positive relation exits between exchange rate and GDP. Net export implies the balance of trade of a nation. A rising net export mean the country is earning more from export than its import spending and hence GDP rises. This therefore supports the positive correlation obtained between net export and GDP growth. Cash rate Figure 2: Trend in interest rate (Data Source: rba.gov.au, 2018) There is a gradual downfall in the cash rate. The cash varied for the time period varied in the range of 15.23% to 2.13%. The high cash rate during 1990 signifies a tight monetary policy of Australian government. However, economic recession in 1991 causes RBA to switch from a tight monetary policy to a monetary easing (Muffels, 2014). After recession year, cash rate though fluctuates but in mostly remain close to an average rate of 5.63%. In recent years, in order to achieve a targeted inflation of 2-3% RBA significantly reduces interest rate. This is indicated from a continuous fall in interest from 2012. The cash rate is now at a fairly stable rate of 1-2%. Inflation rate Figure 3: Price level trend in Australia (Data Source: data.worldbank.org, 2018) The consumer price inflation reflects change in average prices to maintain a certain standard of living between two different periods. In Australia, the mean inflation rate is 2.73%. RBA plays an important role in maintain stability in the price level (Lin and Cheng, 2016). The price level sharply fell in 1991 to 3.22% from 7.27% in the previous year. In times of Asian financial crisis price level reached to its lowest level of 0.25%. In order to recover the economy from recessionary trap stimulus has given with fiscal and monetary policy tool (Denny and Churchill, 2016). Finally, the economy is successful in achieving a stable price level ranging between 1 to 2 percent. Unemployment rate Figure 4: Trend in unemployment rate (Data Source: rba.gov.au, 2018) With a stable growth and inflation rate, unemployment in the economy has constituted a gradual declining trend. After achieving a maximum level of 10.90 percent in 1993, unemployment continuously fell and attained the lowest level of 4.20 percent in 2008. From 2008, unemployment rate has risen slightly and moves around 5-6%. Most jobs created in recent years are part time in nature (Makin, Robson and Ratnasiri, 2017). There are also mismatch in terms of location and skills of the unemployed people with that of the new jobs created. Therefore, despite increase in labor force participation unemployment rises. Exchange rate Figure 5: Movement of Exchange rate (Data Source: data.worldbank.org, 2018) The movement of exchange rate is not much fluctuating. The average price of US dollar relative to Australian dollar is 1.35. The exchange rate reached an all-time high of 1.93 in 2011 and lowest level of 0.97 during 2011-12. Net export Figure 6: Trade balance in Australia (Data Source: rba.gov.au, 2018) The trend in balance of trade reveals that Australia has enjoyed a trade surplus until 2007. Australia had a maximum trade surplus of 66.706 AUD billion in 2001. The maximum trade balance is associated with the highest exchange rate of 1.93. During 2008, Australia experienced a negative trade balance because of a reduction in export volume to US following the financial crisis originated in the end of 2007.During this time Australian dollar appreciated significantly causing a rise in import (Bhatnagar et al., 2017). The maximum trade deficit was realized in 2012 with net export became -51.198 AUD billion. The exchange rate fell to 0.97 during this time. Relationship between inflation and unemployment The general relationship between inflation and unemployment is explained by the popular macroeconomic concept of Phillips curve. The curve slopes downward implying an inverse relation between unemployment and inflation. In the short run, with increase in inflation unemployment rate falls and vice versa. The rationale behind this is simple. Price level increases from an increases in demand in the economy. The increased demand encourages production of goods and services. Hence, increased demand for goods and services is associated with an increased demand in the factor market. As labor demand increases unemployment decreases (Haas and Sattler, 2017) However, in the long run unemployment rate is fixed at its natural rate of unemployment and the Phillips curve is a vertical line over long run. Figure 7: Short run and long run Phillips curve (Source: Baumol and Blinder, 2016) The theoretical relation between inflation and unemployment is now verified empirically using historical data for Australia. The correlation as estimated from the data is -0.23. Therefore, the proposition of Phillips relation is supported in Australia. That means a small inflation is associated with a high unemployment rate. With increases in inflation unemployment reduces. In the beginning years of the decade 1990, unemployment has a clear opposite relation with inflation. After the hit of recession in 1991, the contraction of the economy reduces price to a considerable low level. This low inflation is then associated with high unemployment of above 10 percent. With gradual recovery of the price level unemployment reduces (Belicka and Saleh, 2014). However, overtime stable price level becomes one of the policy target of reserve bank. The wave of global financial crisis in 2008, inflation fell to 1.82. During this time unemployment rate slightly rose to 5.20 percent. Finally, with inflation targeting policy of RBA the price level stabilized between 1 to 2 percent (Trott, 2015). Despite a very low inflation rate unemployment rate still remains at around 6 percent. Figure 8: unemployment and inflation relation (Data Source: data.worldbank.org, 2018) Tight Monetary Policy in Australia Fiscal and monetary policy are the two stabilizing instrument used by Australian government. Depending on the state of economy, expansionary or contractionary policies are undertaken by the government. A tight monetary policy is one where RBA raises interest rate to a considerable high level. The increased rate increases the cost of borrowing and reduces investment. The reduced investment pulls down demand and inflation (Davig and Gurkaynak, 2015). In Australia, the monetary policy is designed by Reserve Bank of Australia. RBA resorted to a tight monetary policy during 1980. To reduce inflationary pressure, RBA set the cash rate to an exceptionally high level. The cash rate in 1991 was 15.23 and in 1992 it was at 10.64%. For the entire time framework considered, cash rate was never as much as that in these two years. The policy proved to be a failure after the recession occurred in 1991. The economy learned from its recessionary experience and realized the need for monetary easing. M onetary policy slightly tightened from 2004 to 2008 when RBA continuously raised the cash rate but at a relatively slow rate (rba.gov.au, 2018). However, from 2008 till date RBA again shows support to an easy monetary policy and maintains a low cash rate. Economic Outlook In the near future, the economy will continue to grow at a robust pace. With investment stimulus in sectors other than mining and housing aggregate demand will be increased. Additionally, export sector will grow with explored newly explored capacity of new resource sector. The employment growth by increasing average income will increase household consumption. Wages in the economy will grow gradually and price level will remain fairly stable. The sound fiscal position will provide necessary support in future and will maintain a projected growth rate of 3-4% (abc.net.au, 2017). With this, there is least risk future recession and more chance for further prosperity. Conclusion The paper has made close evaluation of economic performance of Australia. Australia has performed quite well in the last few years. The economic growth rate is fairly stable with a stable price level and improvement in employment status. Despite a negative external balance, the export sector has scope for future growth. The Reserve Bank has extended support towards a stable growth by keeping cash rate to a low level. The growth trend is expected to continue in future with overcoming possible shocks of recession. References ABC News. (2018).The Murphy's Law forecast for Australia's economy in 2017. [online] Available at: https://www.abc.net.au/news/2017-01-06/murphys-law-guide-to-australian-economy/8163918 [Accessed 25 Jan. 2018]. Acemoglu, D., Laibson, D. and List, J., 2017.Macroeconomics. Pearson. Agnor, P.R. and Montiel, P.J., 2015.Development macroeconomics. Princeton university press. Baumol, W.J. and Blinder, A.S., 2016.Principles of Macroeconomics. Cengage Learning. Belicka, S. and Saleh, A.S., 2014. An empirical investigation of trade flows between Australia and its major trading partners.Australasian Accounting, Business and Finance Journal,8(5), pp.47-78. Bhatnagar, S., Cormier, A.K., Hess, K., de Leon-Manlagnit, P., Martin, E., Rai, V., St-Cyr, R. and Sarker, S., 2017. Low Inflation in Advanced Economies: Facts and Drivers.Bank of Canada Staff Analytical Note,16. Data.worldbank.org. (2018).Australia | Data. [online] Available at: https://data.worldbank.org/country/australia [Accessed 25 Jan. 2018]. Davig, T. and Gurkaynak, R.S., 2015. Is optimal monetary policy always optimal?. Denny, L. and Churchill, B., 2016. Youth employment in Australia: A comparative analysis of labour force participation by age group.Journal of Applied Youth Studies,1(2), p.5. Easterly, W. and Levine, R., 2016. The European origins of economic development.Journal of Economic Growth,21(3), pp.225-257. Haas, J.S. and Sattler, T., 2017. Why Do Some Societies Support Imbalances? Individual Attitudes, Public Discourse and the Current Account in Australia and Germany. Horwich, G. and Samuelson, P.A. eds., 2014.Trade, stability, and macroeconomics: essays in honor of Lloyd A. Metzler. Academic Press. Lin, W. and Cheng, Y., 2016. The Bank Credit Transmission Channel of Monetary Policy in Australia.International Journal of Financial Economics,5(2), pp.61-65. Madsen, M.O. and Olesen, F. eds., 2016.Macroeconomics After the Financial Crisis: A Post-Keynesian Perspective(Vol. 208). Routledge. Makin, A.J., Robson, A. and Ratnasiri, S., 2017. Missing money found causing Australia's inflation.Economic Modelling,66, pp.156-162. Muffels, R.J. ed., 2014.Flexibility and employment security in Europe. Edward Elgar Publishing. Reserve Bank of Australia. (2018).Cash Rate | RBA. [online] Available at: https://www.rba.gov.au/statistics/cash-rate/ [Accessed 25 Jan. 2018]. Reserve Bank of Australia. (2018).Education Monetary Policy | RBA. [online] Available at: https://www.rba.gov.au/education/topics/monetary-policy.html [Accessed 25 Jan. 2018]. Tradingeconomics.com. (2018).Australia Inflation Rate | 1978-2018 | Data | Chart | Calendar. [online] Available at: https://tradingeconomics.com/australia/Inflation-rate [Accessed 25 Jan. 2018]. Trott, D., 2015. Australia and the zero lower bound on interest rates: Some monetary policy options.Agenda: A Journal of Policy Analysis and Reform,22(1), p.5.