1. What was the basis of U.S. post-war prosperity?
Post war brought the prosperity to the United States and the country considered to be the world 's richest county. Automobile industry along with housing stimulated in part by easily affordable mortgages for returning military personnel which fueled the economy. American industrial changed as workers found their own lives changed by fewer produced goods and more provided services. New highways created better access to the suburbs areas and shops around new houses. Refrigerators, microwaves and televisions had also a powerful impact on social and economic forms. An average family watched four to five hours of televisions a day.
3. What political consensus emerged within Western European nation-states to undergird the welfare state?
The Western European policies had inflicted widespread loss of life and suffering after world war I and the great depression. World War II along with Germany’s brutalities aided a compelling case for the continued existence of the nation-state posed to humanity. Achievement of national and colonial territory gave way as the gauge by which to measure state success, and in its place popular welfare and growth in national income emerged as new goals. Citizens now had rights to judge their state on the basis of their performance in which they significantly improved the living conditions of all classes. In 1973 Western European had GDP (gross domestic product) growth rate between 4 to 6 percent, which lowered the unemployment and inflation while expanding foreign trade and exchange. It gave rise to public expenses on welfare, education and health.
4. What were the charact...
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...and structural economic changes mainly in the injured nations. In addition, IMF eroded the institutions of state sovereignty fought for by the global institutions of the Third World UNCTEAD and NAM.
15. What did structural adjustment entail?
Common demands for land, bread, and peace had been ignored on behalf of the needs of the major classes. A failure to control the prices of primary commodities, an inability to overcome the suffocation of finance capital, which further led to a crisis in the budgets of much of the Third World. Structural Adjustment is borrowings from commercial banks could only come if the states agreed to packages from the IMF (International Monetary Fund) and the world Bank. The new invention of structural adjustment wanted the accoutrement of advances industrial capitalism without a sense of the historical process that makes this possible.
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