Cold War Essay

Cold War was a period marked by political, ideological and economic rivalry that emanated from United States and Soviet Union after the Second World War. The animosity between United State and USSR lasted between late 1940s and late 1980s . Cold war was coined from the fact that the two sides feared the effect using weapons, instead they resorted diplomatic ideologies rather than force. The rivalry between these two supper powers was exposed through the weapons developments, military coalitions, advances in industrialization and technology. Cold war brought tension to international crises, for example the Berlin Blockade (1948-49), the Korean War (1950-53), the Berlin crisis in 1961, Vietnam War (1959-75) the Cuban missile crisis and the Afghanistan war which raised fear of a Third World War . The NATO exercise in 1983 patent the end such crisis. The collapse of the Soviet Union marked the end of cold war between late 1980s and early 1990s and the progress towards democracy began. The then president of United States, Ronald Reagan, came up with new policies. He increased economic pressure, military action and diplomacy on Soviet Union who by then was undergoing economic crisis . The clear cut regarding the origin of the Cold War is not well known. While some historians trace its origin to the end of world war 11, others argue that it began at the end of the First World War in the 19th Century with the United States, Russian Empire and the British Empire. The ideological differences between capitalist and communist started in 1970 with the coming out of Soviet Union from Russian Revolution as a communist state. This resulted to tensions between United State and USSR because of the changes that occurred. The change in political point of views after the Second World War ushered in the Cold War. The nuclear arms race brought differences between US and Soviet Union. Between 1960s and 1970s, both United States and the Soviet Union adjusted to a new pattern of international relations bringing unity in the world. From the commencement of the postwar era, Western Europe and Japan hastily recovered from the destruction of World War II and continued strong economic growth. The 1973 oil crisis, combined with influence of Third World alignments such as the Organization of Petroleum Exporting Countries (OPEC) and the Non-Aligned Movement, less-powerful countries had more opportunity to affirm their independence. 2. 0 Effects of Cold War on the World Economy The cost of the Cold War was terrific; the military expenditure by United State during that period was estimated to have exceeded more than $8 trillion and nearly 100,000 American solders lost their lives in Vietnam and Korean War. The number of lives lost in the midst of the war by Soviet solders was hard to estimate. Millions of soldiers died in the superpowers proxy wars especially in the region of the globe, most markedly in the Southeast Asia. Following to the disbanding of the Soviet Union, post cold war become unpopular with the United States becoming the only superpower in the world. On 21st Dec 1991, the Commonwealth of Independent States was formed and it was viewed by many as a successor of Soviet Union. Russia slashed military spending after the end of cold war, leaving many unemployed . The financial crisis and recession affected Russia in 1990s when they tried to reform their economic capitalistic. The cold war also influenced the world affairs. It defines the united state political role in post-world war 11. In 1953, the US president Dwight D. Eisenhower reduced military expenditure by brandishing nuclear control while continuing to fifth cold war The U. S held military alliances with some countries estimated to 50 allied to them and had more than 1. 5 million troops abroad in 117 countries by 1989. Most of the local conflicts and proxy war ended with cold war. The ethnic wars interstate war, refugees and revolutionary wars declined sharply. Cold war conflicts legacy can not be erased effortlessly as numerous economic and social tensions exploited in third world are still fresh and acute. The struggle to control those countries they ruled by Communist government has twisted it course and produced ethnic wars and civil wars especially in Yugoslavia. T he ends of cold war soup a new era of economic growth and numerous liberal democracies in East Europe. Afghanistan attained independence but unfortunately their state failure. International conflicts The war between America and Iraq, the US claimed that Iraq was preparing biological, chemical and nuclear weapons of mass destruction. Saddam Hussein who was then the Iraq president denied the allegation. This war almost brought down the US economy. The soviet-Afghan war took nine years. It was a conflict between soviet forces supporting Marxist Peoples Democratic Party of Afghanistan (PDPA) government and Mujahedeen Resistance. The latter got support from United State, Saudi Arabia, and Pakistan and other Muslim nation in context to cold war. The incomplete conflict in Afghanistan has heathen tension in the war like that of Vietnam War. The U. S president Jimmy Carter said that the inversion of Soviet was â€Å"the most serious threat to peace since the Second World War† he later placed trade ban on Soviet Union. The tension was high and the Soviet took thousands military troop to oil rich region in the gulf. International diplomatic retort was harsh, Leading to boycott of 1980 summer Olympic in Moscow. The invasion and revolution in Iran, the US captive that accompanied them, the Iran–Iraq War, the 1982 Israeli invasion of Lebanon, the escalating tensions between Pakistan and India, and the rise of Middle East-born terrorism against the West, contributed to making the Middle East an extremely violent and turbulent region during the 1980s. Capitalism The capitalism is a state of government whereby economic production system are controlled by private sector rather than government. It is a social system based on individual rights. The exchange and distribution of capital between private persons or profit seeking legal are protected, and pricing of goods, distribution, services, income, and investment are determined through opened market economy in which any one can take part in supply and demand rather than central economic system. In to the history, capitalism has met resistance throughout. Some critics consider economic regulation necessary because it reduces negligence, corruptions and other problems arising from free markets. Trends associated to globalization have increased mobility of people and capital since 20th century. This has made capitalism to be viewed today as a world system. In the last half century, economic growth has been steady, life expectancy increased and infant mortality rate dropped in developing nation. In 2008, America and other governments were seeing state intervention in global markets signaling free-market capitalism. The financial Markets and uproar in banking system resulting from supreme mortgage crisis was at the peak in September 2008, this was seen by liquidity in global market and ongoing threats on investment banks. Communism Communism is a distinct socio-political philosophy that promotes the establishment of an egalitarian, classless society that is willing to use force to accomplish its goals. Communism believes in equality force. They also embrace atheism and dismiss religion as basis formed by the rich and superpowers to lock off the poor. During cold war, communism spread into many countries. The Soviet Army captured several nations in both Eastern Europe and East Asia and expand communism. The Soviet communist took control in Romania, Poland, Bulgaria, Hungary, East Germany and Czechoslovakia. After the Second World War, Albania turned out to be independent communist nation. By 1950, Chinese communists controlled the majority of populous nation in the World. Whit rising control of the communism in the world, it led to fight through guerrilla warfare and conventionalism i. e. Korean War Vietnam War Middle East. Communists attempted to unite with socialist forces and nationalist against what they perceived as western imperialism in poor nations. The fear of communism was seen when Italian resistance movements and Chinas involvement in the Second World War. Western democrats and capitalist saw communist as a threat. This rivalry between the two superpowers was at the peak during the cold war. Their difference polarized the world into two camps whit each camp strengthening military power, developing new weapons and nuclear, fought each other through proxy client nations, and competed in space development technology. The U. S. feared communist spread hence spurred aggressive investigations deputation of suspected people, blacklisting and red-baiting. The economic critics of socialism was seen when they introduced free price system in market economy to guide economic activities. Free Market economist felt that controlled or fixed price will give inappropriate information about relative scarcity. The market economist sees that comparing the cost to sales revenue will enable business owners to evaluate their viability. Socialist reject market mechanism of pricing claiming that market system is tending towards monopoly or oligopoly to some key industries leading to prices distortion.

Financial Crisis in South Korea Essay Example | Topics and Well Written Essays - 2250 words

Financial Crisis in South Korea - Essay Example Indonesia, South Korea and Thailand were the countries most affected by the Asian economic recession. The economic growth of Indonesia slowed down from an average rate of between 5% and 7% to 4.7% in 1997. Forecasts for 1998 and 1998 showed a negative 12% growth, and inflation rate was predicted to soar to 66%. In 1998 rupiah's value declined by 80%. As a consequence of the devaluation, the country's foreign debt multiplied.. Simple economic theories would explain how the devaluation of baht affected other economies. A devaluation of any local currency implied an increase in the cost of imports. Crane stated that in Thailand, such devaluation meant inflation in fuel and food. Reports said that overall prices soared 4.9 percent in July 1997 from the previous year. The surge in rice and flour prices was even higher, at 42%. In the Philippines, interest rates reached 33.5 percent in September 1997 from the previous week's 12 percent. This was for the peso to sustain its value or at least slow down its decline. Inevitably, interest rates on credit cards, mortgages and personal loans would also increase. Malaysian Prime Minister Mahathir Mohamad blamed the IMF for the economic decline. He believed bracing the stock market with public pension money would resolve the issue. Martin Hart-Landsberg and Paul Burkett's "Economic Crisis and Restructuring in South Korea Beyond the Free Market-Statist Debate" offers an analysis of the causes, nature and consequences of the restructuring process of post- Asian crisis South Korea. In the process of identifying the causes, the authors discussed the various aspects of restructuring and reform. The article studied the cause of the country's monetary decline from two standpoints: the... Researchers proposed financial-crisis models as long-term solutions for South Korea and as tools to forecast economic conditions. There were two models: the weak-fundamentals view and the financial-panic view. Based on the weak-fundamentals perspective, a country’s weakness in macroeconomic or financial fundamental triggers the abrupt backflow of capital. This called for radical reforms and support to see things through. On the other hand, the weak-fundamentals view predicted a slow recovery because it took a while before creditors and other financial institutions were able to complete the auditing and accounting process and recognition of losses was not made instantly. However, economists claimed that neither of the two views above proved helpful in the Asian-crisis recovery. The fast recovery of Korea since the economic recession misrepresents the observed social and political developments. The election of Kim Dae Jung to power symbolized the bureaucracy’s adoption of a politically neutral institution. The state has manifested social maturity by valuing loyalty to the institutions of governance as opposed to loyalty to the institutions of the few privileged groups.

Report Toys4U Ltd Essay Example | Topics and Well Written Essays - 2000 words

Report Toys4U Ltd - Essay Example The legal implications are the following: On March 3, 2010 eight Polaris toy missiles arrived at toys4u from the supplier instead of the 10 because it was claimed that the two other were damaged during handling by the fork lift, and the other one was clearly badly broken due to transporting. The redundancy of broken toys from one delivery should have alarmed Toys4u that the whole stock might be defective; however instead of being careful and cautious the retailer went on disposing the product. Toys4U has been negligent to put first the safety of their clients. Mrs. Sharma can make her legal claims against the toy retailer for negligence. However, in the absence of proof that there has been neglect, Mrs. Sharma just the same can make a claim for the injury her son Pritam has suffered. Mrs. Sharma can also make a claim for a damage property under the same Act. These can be done even without proving the negligence of the producer as long as they can prove that the injury and the damage are direct result of using the product (P roduct Liability, Defective Products, Unsafe Products Quick Facts 2007). The Polaris missile that was sold to Mrs. Sharma was clearly defective and therefore can be categorized as ‘unsafe product’. An unsafe product means in general something that the consumer does not expect from what she or he bought. When a consumer buy a product there is a general assumption that the product is safe for use. In the event that accidents like that of what took place at the house of Mrs. Sharma, there is provision in the law. Consumer Protection Act 1987 made a strict and clear liability concerning damage that is a result of a defective product. Damage means death, or injury; or loss or damage to a property including land (Derbyshire County Council Trading Standard Service 2010, p.1). The Act entitled Mrs. Sharma to a legal claim for the injury suffered by her son and for the glass ceiling lamp

Cultural Timepiece Essay Example | Topics and Well Written Essays - 1750 words

Cultural Timepiece - Essay Example form and before the invention of the industrial clock Does traditional culture not reflect modern culture in earlier form, thus, to conclude that our conceptions of time are motivated by similar conditions For quite a period since the study of time began, it was emphasized by convention that modern and traditional societies perceive time in contrasts. Anthropologists suggested, more in favor of modern time, that traditional time is "cyclical rather than linear, qualitative rather than quantitative, reversible rather than irreversible, encapsulated in tradition rather than constituting the motor of history, organized by routine and practical tasks rather than by the clock, oriented to stability rather than change, geared to natural rather than calendrical rhythms, and reckoned ecologically rather than by an abstract scale" (Adam 1994, 504). With similar theories on traditional time, Whorf singled out the Hopi concept of time and suggested that its distinct difference from the Western concept was of time perceived as not being made up of discrete instances that follow each other but is characterized by a cumulative getting later (1956, 151). And likened to Whorf's analysis, Evans-Pritchard proposed that the movement of their time must be recognized as an illusion, unlike Western time which passes and progresses, because the tribal time structure stays constant, meaning that their perception of time is no more than the movement of persons through the structure. He further propose that the span of their tradition is limited compared to modern Timepiece 3 time, and that in their myth, the events do not have relative succession (1940, 107-8). These notions has provided us with an impression that the time of traditional societies were found by a radically obscure consciousness driven by primitive conditions. Somehow these model theories would, it seems, have us drift farther away instead of closer to understanding other cultures through their behavior towards time, and in a way convince us that our evolutionary relationship with these societies is incomprehensible. Moreover, if we are to consider these analyses as unanimously true and ideal, our alienation would be fueled by an assumption that these other people are actually molded with an alien makeup by some source alien from our world. And by the same exaggeration have us wonder whether our own civilized consciousness was in fact innate and there was never any need for it to have to grow out of evolution. Closer to home, Ingold presented a different set of dichotomies which is more in regard to industrialism and the household. He contrasted perspectives such that there is free time and clock time as opposed to all time is task-oriented; that there is work and leisure against the notion that all life consists of tasks; that there is creative art and the

Sectionalism Essay Example | Topics and Well Written Essays - 750 words

Sectionalism - Essay Example They had plantations. These were large family farms that produced tobacco and cotton that relied on cheap labor in the form of slaves which was actually intensified as economic sectionalism grew stronger as well. Both North and South sections tried to have representatives in Congress for them to have the power to pass laws that would benefit their sections. Both wanted to have equal States rights and reasonable government tax on imports or exports. The West was also a section but was not part of the sectional conflict between North and South. However, the presence of the West aggravated their conflict as both sections fought to control the West. The people then moved westward and settled there, of course with the additional struggles faced with the first Indian settlers. They saw the west as an "open land", a free land where new opportunities awaited. As more people moved into the west, they realized how potential the land was which then showed the American development. The presence of fertile soil and flat lands attracted the farmers to Great Plains. The discovery of gold and animals rushed in miners and hunters. The people started to acknowledge that additional development to the land could provide them with lots of money. The settlers then slowly started to develop the land and made it prosperous that appealed to investors. The complexity of city life eventually became simple as people tried to embrace the new culture and economy of the West. There were traders, ranchers, miners and farmers that eventually boost the West economy. The opening of the West was indeed an avenue where people started to have hope, rights and duties in expanding and owning a free land. The opening of the West slowly neutralized the sectional conflict between the North and the South. Slavery, one of the four main issues starts to find its voice and freedom. Slavery was believed to be a sectional trait and since the west did not acknowledge this, slaves were not anymore half-free nor half-slave. They can also enjoy what a free man can. No racial discrimination. Black Americans can as well live and work freely with white Americans. Representation, second issue, the North and South as mentioned above seek representatives that will speak on their behalf and propose laws that will benefit their own sections. This is not the case with the West, as people continue to possess economic power, political power arises as well. As new settlers realized their independency in trading, managing and controlling of their new lands, it was also the beginning of intolerance to the government, the individualism of the people. We are to see here that economic opportunities slowly closed the gap caused by sectionalism; however, it also opened to individualism. Individualism in America has allowed a laxity in regard to governmental affairs which has rendered possible the spoils system and all the manifest evils that follow from the lack of a highly developed civic spirit (Turner). An individualism which made the government out of its function due to the immense success of the West economy that encouraged the people to rule the land expecting limited participation from the government. The individualism made them neglectful on their duties and responsibilities as citizens of America. Looking closely to it, the individualism of the West is as worse as sectionalism. Sectionalism only thinks of its own section while individualism only thinks

Economics of Organisations Essay Example | Topics and Well Written Essays - 750 words

Economics of Organisations - Essay Example Victor P. Goldberg (2008, pp. 1071-1084) states that the contract which was entered into between General Motors-Fisher Body (GM/FB) in the year 1919 was lawfully not enforceable. This realistic proof warranted the chronological significance of the institutional understanding of the economics of the firm founded on the minimization of transaction costs (Tirole,1988; Carlton and Perloff, 1994; Williamson, 1985; Ricketts, 1994). In a current publication of the Journal of Law and Economics (2000), law of economics of firm has received new explanations. Profounders like (Klein, 2000; Coase, 2000; Freeland, 2000; Casadesus-Masanell and Spulber, 2000;) have proposed that the leading clarification established on issues of sorting of information and transaction costs is an incorrect one. The explanation with regard to taking into account transaction costs, has failed or even neglected many other important causal factors of vertical integration. But according to Kelin (2000), the foremost hypothesis H0 is "holdup is the main rationale for vertical integration". Klein ( 2000, p 106) states that "the evidence unambiguously demonstrates that while the contract initially worked well, this contract broke down in 1925 when GM's demand for Fisher bodies increased dramatically. Fisher then refused to make the necessary capital investments required to produce bodies efficiently for GM, in particular refusing to build an important body plant close to GM production facility in Flint, Michigan. These contractual difficulties were the primary reason GM decide in 1926 to vertically integrate with Fisher Body" Whereas Coase (2000, p 15) states that Coase, alternatively, supports the idea that H0 is rejected by historical facts. To him, asset specificity is only a possible foundation for vertical integration which is not sufficiently adequate to validate vertical integration. According to him there are three reasons which stimulate arguments. They are: a. GM had only acquired 40% of the shares of FB which it had already owned. b. FB did not locate its plants far away from GM. c. Fisher Brothers did not use any incompetent methods of production. Thus it can be said that there was no holdup and thus the H0 was rejected by Coase and he suggested an alternative H1 which is: ""Asset specificity (with or without hold up) is normally handled satisfactorily with long term contracts without requiring vertical integration". According to Freeland (2000, p 35) vertical integration was "caused primarily by the desire to acquire and retain the specialized knowledge and services of the Fisher brothers". Thus Freeland also declines H0 and places more emphasis on human assets. He states that "Access to specialized human capabilities favours vertical integration which may, in turn, produce holdup situations". The H0 was also rejected by Casadesus-Masanell and Spulber (2000, 68). Conclusion: Alternatively, in more current combinings between economics of the firm and business history as in the case General Motor/Fisher Body, the previous difference still applies. Reference: 1. Crocker and Masten, 1996, "Regulation and administered contracts revisited: lessons from transaction-costs economics for public utility regulation", Journal of Regulatory Economics, 9, 5-36. 2. Carlton and Perloff, 1994, Modern

Harrignton Collection Case Essay Example | Topics and Well Written Essays - 250 words

Harrignton Collection Case - Essay Example At what price should they introduce the new line? They could introduce the new active wear at the proposed prices or introduce it at a price twenty percent above their proposed price. The criteria they developed in coming up with the price were high margins of profit, market share potential, sales potential, brand perception, and customer satisfaction (Blais1). The first alternative was selling the Vigor active line at the proposed prices (Blais 1). Given that women’s active wear units were expected to, increase by double by the year 2009 and Harrington intended to take advantage by introducing the active wear to stores that carried their vigour line. Majority of the customers who purchased items with price points between one and two hundred dollars, did not believe that cheaper active wear would lead to cheap brand perception. Alternative two involved raising the proposed price by twenty percent (Blais 2). Given it is a moderately expensive clothing brand; customers would be less sensitive to a hike in price compared to those who were shopping on a budget. Therefore, Vigor will be able to maintain the majority of its market share. Harrington’s decided to sell at 20% above proposed price and target trend setters aged between 20 and 25, as well as women seeking comfortable and edgy design. To develop their product, they introduced their new product into an already existing market. Harrington also pursued a product differentiation strategy, which entailed a push-and-pull strategy for promotion. They also used an indirect channel strategy by selling their new wear at all their fifty Vigor store