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Effect of globalization economy
The impact of globalization on the US economy
Effect of globalization economy
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My project is on the effect of the Nuclear Arms Race on the US economy. In this paper, I will be discussing the arms race’s direct effects on the economy as well as the indirect effects from innovations that came about as a result of the increased military spending. Many sources agree that the large scale military in the arms race was not good for the economy as it stifled economic diversification and growth. John Kenneth Galbraith, a renowned economist of the time, stated, “The general effect of massive military expenditures has been a transfer of capital away from civilian industry over the years… Modern military spending concentrates on , and certainly benefits, the narrow range of industry and the highly specialized technology that serve missile, aircraft, and marine weaponry.” In short, he claimed that massive military spending draws resources from civilian industries necessary for economic growth. Every dollar spent on developing and maintaining a nuclear arsenal was a dollar not spent to further the economy through the development of civil industries; they were sunk costs. According to Dr. Weida, the amount of money spent on a nuclear arsenal was excessive. A estimate from the Nuclear Threat …show more content…
During the 1970’s, many people moved from the Northeast and Northern Midwest to the Southwest, where there were lower taxes to be paid and defense industries to work in. The scope of this migration is best exemplified by the population loss in the states located in the rust belt. The states which lost the most people averaged at losing 482,750 people from 1970-1981, nearly half a million people. In contrast, the states which had the largest population gains averaged at a population gain of almost 800,000 people. The difference in averages is due to the number of immigrants who migrated to the sunbelt for the reasons stated
million to $82 million. In this paper I will discuss the United States' use of
In the years from 1860 through 1890, the prospect of a better life attracted nearly ten million immigrants who settled in cities around the United States. The growing number of industries produced demands for thousands of new workers and immigrants were seeking more economic opportunities. Most immigrants settled near each other’s own nationality and/or original village when in America.
This investigation will examine ways in which the US economy improved during the second World War and what caused these improvements. World War Two was a turning point for the American economy from the end of the Great Depression to the start of an economic boom. The reasons for this economic improvement are still debated today. This investigation will look at the economic indicators before, during, and after the war. It will also consider the two main arguments for the cause of the sudden economic growth and determine which one seems most probable.
Between 1880 and 1920 almost twenty-four million immigrants came to the United States. Between better salaries, religious freedom, and a chance to get ahead in life, were more than enough reasons for leaving their homelands for America. Because of poverty, no future and various discrimination in their homelands, the incentive to leave was increasing. During the mid-1800's and early 1900's, the labor and farm hands in Eastern Europe were only earning about 15 to 30 a day. In America, they earned 50 cents to one dollat in a day, doubling their paycheck. Those lower wage earners in their homeland were st...
The Great Migration to northern states subtly began in the 1920’s, during the Jim Crow era (J. Stevenson, personal communication, November 12, 2013). An economic boom in the 1940’s during World War II generated the second Great Migration as families in the South were facing structural and environmental violence (J. Stevenson, personal communication, November 18, 2013). Poor infrastructure, lack of opportunities and jobs and incessant poverty inspired migration towards the northern and northwestern part of the country (J. Stevenson, personal communication, November 12, 2013), however Stack’s ethnography primarily focuses on families and individuals that have migrated to northern stat...
Whether they traveled for economic reasons, technological reasons, or even social reasons, Americans moved regardless of the conditions. Moving was a vital aspect of American life, almost everyone did it, and almost everyone needed to do it. Although today in America, it is the complete opposite. Today, people still need to move, although they are just not doing it. This is evident in “How to Get Americans Moving Again,” when Brooks writes, “Curiously, some of the Americans who would seem poised to gain the most from moving appear to be among the most stuck” (Brooks). Also, it is not like Americans aren’t moving because there isn’t better opportunity elsewhere. There are just as many reasons to move today as there were during the seventeen hundreds, if not more! Brooks states, “We might expect movement from a high-unemployment state like Mississippi (unemployment rate: 6.3 percent) to low unemployment states like New Hampshire (2.6 percent) or North Dakota (3.1 percent). Instead Mississippians are even less likely to migrate out of the state today than they were before the Great Recession hit”
The collapse of Soviet Union in 1989 finally put an end to the cold war. The US won the ultimate victory like what Franklin D. Roosevelt once said, “...the American people in their righteous might will win through to absolute victory.”[ Franklin D. Roosevelt, “War Message,” US(1920-1945): 2, accessed May 21, 2014, DOI: 10.1093/acref/9780199794188.013.0142] However, the cold war legacy had a big influences on variety groups of American. The military spending increases indicates the better condition in the US Army, the Technological advances gave opportunities to many technology innovators and globalization led to economy crisis. This is the extensive power of the cold war legacy.
Harry Truman (1884-1972) was the most influential person in the race for the super bomb. As President Roosevelt’s Vice President, he knew nothing about the development of the atomic bomb. But within months of assuming the office of President of the United States on April 12, 1945, he became the first and only American leader to authorize the use of atomic weapons against an enemy target. Truman’s era only marked the beginning of the race for nuclear weapons. The development of nuclear weapons is still an issue today, decades after Truman left office.
Aside from national security interests domestic thirst for oil boomed. The war brought us out of the Great Depression. During the Depression a traditionally capitalist American society embraced a kind of socialism with the New Deal. WWII transformed the bear turned in a raging bull. Capitalism was back with a vengeance, charging forward stronger than it had ever been before. The heavy industry built up to sustain the war effort was retooled to meet the demands of the emerging consumerist culture of the 1950s. The new explosion of industrial output became so pervasive that the decade ended with President Eisenhower warning of the dangers of the growing “Military-Industrial Complex.”
As the cold war had brought upon a lot of conflict, it had also had the struggle of the economy from the remnants of the Second World War and the 70’s that had really brought the entire situation down. In the beginning of the nuclear arms race, it was commonly believed that nuclear weapons provided more benefits than the cost was so they justified their somewhat frivolous spending. While the greater explosive power of nuclear weapons may cause them to be cheaper per kiloton, as wholesale of a particular item does in today’s world, this statement proves to be untrue for the arms race and it even hides the actual economic costs of the nuclear weapons. Economic pressure had already been with the United States from the previous years that had left a negative impact before the beginning of the nuclear arms race, and all the millions, billions, and even trillions spent on acc...
Wilcox, Walter F. 1929. “Migrations According to International Statistics: Continental Migrations.” National Bureau of Economic Research I:219-227.
1.5 million African Americans left Southern areas for Northern cities from 1910 to 1940. (Memory.loc.gov, pg. 1) Then from 1940 to 1950 another 1.5 million African Americans left the South, and moved to Northern cities. (Memory.loc.gov, pg. 1) Soon after by 1970 there were more than 5 million African Americans in the North. (Inmotionaame, pg. 2) The global structure and states being of the United States underwent a huge geographical change, but what was surprisingly significant during this time after the end of World War II, was their change in destination. (Memory.loc.gov, pg. 2) Every 1 in 7 Southerner went from going South to North, from South to North or Western states, immediately afterwards. (Faculty.washington.edu, pg. 1)
Pascall, Glenn R., and Robert D. Lamson. Beyond Guns & Butter: Recapturing America's Economic Momentum after a Military Decade. Washington: Brassey's, 1991. Print.
Warfare can have a dramatic effect on the economy of a nation. Trade between nations is critical to ensure access to resources not found in a nation’s specific region. Trade is extremely crucial to nations with limited natural resources. By affecting trade, war degrades a nation’s ability to raise capital. Additionally, it can limit the nation’s ability to receive critical resources which affect the nation’s ability to engage in prolonged warfare. A nation could seize land or regions that possess the critical resources they...
In recent years critics have condemned the military’s research into new weapon technology, saying it only leads to death and war. However, the benefits and security from the research far out weigh the drawbacks.