Economics has been around for as long as humans walked on earth. Going back to the days where the economy was not broken into different classes; capitalism, communism, or socialism, it was thought of as history and geography. Economics advanced from the primitive days to where we are now through the notion of history and geography. Thousands of years ago when the economy consisted of weapons to hunt animals and tools to grow crops in order to make a living turned into trade, and then into complicated economic systems based on the writings of famous philosophers. As time elapsed and left history behind; as people settled in different parts of the world and created geography, economics split into several major economic systems such as capitalism, socialism, and communism. The location of the country and it history are the factors that evolved it s economic system. Economics is history and geography.
Ages and ages ago the economy consisted of hunters and gatherers. Hunting animals and growing crops was the way of life for our ancient cultures. Tribes looked to settle on land that was high in natural resources so they could grow their crops. The men would hunt animals and the women stayed behind to plant crops and take care of children. They found shelter by using the materials around them to build homes and make the tools they needed. To make life easier our ancestors usually moved from place to place throughout the years in search of land higher in natural resources and better living conditions. Some tribes not only moved in search of richer lands but they followed the herds of wild animals that they hunted. Their economy was very basic because it did not consist of wants of luxury items like our economy. It consisted of needs for survival. The economy of hunters and gatherers consisted of geography; a search for better land that provided more resources and food.
The Essay on Hawaii Geography History And Culture
Hawaii: Paradise Island Specific Purpose: To inform my audience about the physical geography, history and culture of Hawaii. Central Idea: We will see that Hawaii is a special place, by looking at its physical geography, history, and culture. Introduction I. What comes to mind when you think of palm trees, beautiful beaches, luaus and hula dances? A. Hawaii. The "Aloha" state. II. Do you know what ...
As centuries floated by the technology advanced, so did economics. Tribes grew into communities that were dedicated to their place of living and their economies opened trade. People throughout different communities traded goods and services amongst one another to make life easier. People began to be more specialized in what they did to make a living. For example, people that specialized in making tools sold their tools and bought food, they didn t have to go out to hunt in order to eat. Trade became a more efficient way of life for people. Men did not have to hunt in order to provide food for their families, and women did not have to make clothing in order put it on the backs of their children. Later, trade spread not only from community to community but also from continent to continent. People that specialized in certain good or resources sailed their ships across the ocean to sell them to people in need of them. Trade was a great way to boost the economy and also an excellent way to earn a living. Trade spread worldwide. Now, people were able to purchase goods and resources that were nowhere to be on the land that they settled. Merchants loaded their ships with goods that their country specialized in and travel to lands where the good was a deficit. Then, the merchants brought back ships full of goods that were valued in their community. Trade made the world go round and gave economics a possibility to grow and expand.
The world became more complicated and everything began to take more structure. Different forms of government ruled over different parts of the world, which had their own economic systems. The country s economic system depended on the government and the way that the country was governed. The world broke up into three major forms of economic ruling such as capitalism, communism, and, socialism. The country s economic system was not definite; some of them changed with time, but economics became more complicated and took a larger part of people s lives. Economics became the definite way to make money and live the good life. The location of the country and the form of government that the country was ruled by determined their economics. The economics of the country determined the citizen s way of life and standard of living.
The Essay on Capitalism World System
For the past six hundred years a culture and a society, dedicated for the most part to development and trade as the ultimate source of well being, began to expand all over the world. In a great number of ways this development, capitalism, became the most successful culture and society the world has ever seen. Capitalism ascended as a successful social means. It was successful as it ...
By the textbook definition, capitalism is an economic system in which private individuals and business firms carry on the production and exchange of goods and services through a complex network of prices and markets. Capitalism is a form of economic order characterized by private ownership of the means of production and the freedom of private owners to use, buy and sell their property or services on the market at voluntarily agreed prices and terms, with only minimal interference with such transactions by the state or other authoritative third parties. Capitalism is a philosophy that originated in Europe, where it evolved and reached its pinnacle in the nineteenth century. The actual starting organization of capitalism started developing during the thirteenth century and onward. The developments society underwent in Europe during the Renaissance and the Reformation were vital in the emergence of the modern nation-state. The nation state provided the essential peace, law, and order that were crucial for capitalism to grow. This growth was achieved through the accumulation of an economic surplus by the private entrepreneur and the funneling of this surplus back into the capitalist system for further expansion. During the nineteenth century capitalism spread throughout the world and to the United States. The United States adopted the ideas of capitalism and put them into practice by making capitalism America s economic system. Capitalism has been fro the most par the dominant economic system in the world and has only been challenged on limited occasions by the other economic systems such as socialism and communism.
The Essay on Adam Smith Capitalism System Mercantilism
... from any other economic system we have ever seen. What made capitalism different from all other economic systems was that production facilities, land, and ... worldwide working-class revolution and replaced by a communist society. Capitalism has evolved since its early introduction by Adam Smith ... a few major points, most important was that the state must have a favorable balance of trade, which means ...
On the other hand, communism is an ideology based on the communal ownership of all property and a classless social structure, with economic production and distribution to be directed and regulated by means of an authoritative economic plan that supposedly embodies the interests of the community as a whole. Today, Karl Marx is the most famous early theoretician of communism, but he did not invent the term or the basic social ideals, which he mostly borrowed and adapted from the less systematic theories of earlier French utopian socialists and grafting them onto a philosophical framework Marx derived from the German philosophers Hegel and Feuerbach, while adding in a number of economic theories derived from his reinterpretation of the writings of early political economists such as Adam Smith, Thomas Malthus, and David Ricardo. In communist utopia, everyone would be expected to co-operate enthusiastically in the process of production, but the individual citizen s equal rights of access to consumer good would be completely unaffected by his or her own individual contribution to production. Communism was supposed to lead to the elimination of all major social problems such as class conflict, political oppression, racial discrimination, the inequality of sexes, religious bigotry, and so on, but it ended up with its own huge set of differences to where it became less and less popular.
In conclusion, economics is history and geography. Economics evolved over time from continent to continent as a cultures standard of life. The geography part of the definition represents the society s location. Although there are only three major economic systems in every part of the world they are practiced somewhat different. The capitalism practiced in the United States differs from the capitalism that is practiced in Europe. The economic position of a country depends on the countries location, economic system, and the countries standard of living. The historical part represents the development of the society, industrialization, how far the society has actually advanced technologically. Economics represent history and geography but also governs and controls the way that individuals, communities, societies, countries lead their way of life.
The Essay on India, China Economic Growth
India with about 1. 2 million populations and china with about 1. 3 billon population are two big demographic and emerging countries in the world . Over a past few decade India’s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011¬). India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). ...
