The Impact Of Geography On The Economic Growth Of The West

Geography played a key role in the economic growth of the West. Europe had always been politically fragmented due to its geography. There were no enormous plains or broad rivers. The landscape was mountain ranges, large forests and the population was centered in the valleys. This made it hard to gain control of and encouraged growth and the continued existence of decentralized power. Even though Europe had previously experienced steady growth, it soon gave way to famine and plagues. The Black Plague encouraged a radical transformation of the economy. Europe was neither the most fertile nor the most populous area in the world. However, due to the decrease in population, land became more plentiful and labor more expensive. Urban†¦show more content†¦Water transport of these goods was so much more economical and being surrounded by water led to their industry of ship building. Since there was no government authority that could control this commercial development it thrived. The evolution of new and lethal weapons like the musket and cannon facilitated the expansion on both land and sea and as a result the arms race began. â€Å"The impact of the gunpowder revolution at sea was even more wide-ranging† (Kennedy, 1987). This influenced and helped advance the future of maritime development. The development of long-range armed ships advanced Europe’s ability to control the oceanic trade routes. Even though â€Å"the revolution in military technology †¦.had implications for the organization and capital costs of warfare† (Tracy, 1991), the profits and benefits from this expansion were vast. They were able to procure gold, silver, and spices. Being able to access the Newfoundland fisheries brought about an abundance of food and oils. Employment to facilitate bulk trade helped to boost the economy. Ship building stimulated the economy and brought about the need for craftsmen, dealers, and suppliers, as well as insurers. Gold and silver were used to purchase spices and silks and timber was used to purchase iron guns from England. These economic advances coupled with technological advances interacted to drive the rise of Western Europe. Even though China had been disrupted by Mongols and the

Decade of Despair Winnebago County During the Great...

The book I have chosen to review is Decade of Despair: Winnebago County During the Great Depression 1929-1939. Authors are Werner E. Braatz and Thomas J. Rowland. Copyright 2009 by University Press of America. Published Lanham, Maryland 20706. ISBN-13: 978-0761846406. The stock market crash of October 1929 drastically affected the economic growth of the entire United States. In Wisconsin the attitudes of many changed and several began to devise plans on surviving the worst depression in the Nation’s history. Wisconsin, like many other states suffered as factories began to close, wages dropped, and unemployment became even more common. The effect of the stock market crash was all felt at once, giving those little to no time to prepare for it. To help cope with the depression many companies began advertising to half price or reduced price items, these items consisted of anything from food to cars. Throughout the next month employment for unskilled labor began to dry up leaving few job opportunities for those not a trained. This was just the start of what was about to come. For the next ten years Winnebago County and the entire United States would continue to suffer in this period known as The Great Depression. The author’s main purpose in writing this book was to explain what went on in Winnebago County during The Great Depression. They discussed issues such as unemployment, debt relief, and slow industry during the depression and how those living in Winnebago County

Financial Decision Making Impact of Capital Structure

Question: Discuss about theFinancial Decision Makingfor Impact of Capital Structure. Answer: Impact of Capital Structure Decisions on Business Performance Capital structure refers to the method selected for financing the assets by a firm. A firm incorporates the use of either debt or equity or combination of both for financing its operational activities. Debt financing is the capital acquired through borrowing of funds whereas equity funds refer to the finance gained through selling of a companys stocks (Baker and Martin, 2011). It has been advocated through capital structure theory given by Modigilani and Miller that capital structuring decisions does not have an impact on the performance of a company. As per the theory, a company market valuation is not dependent on whether it has higher equity or higher debt component in its capital structure. The theory suggests that market valuation of a company is only impacted by the operating profits generated by it. Thus, the capital structure of a company whether having majority of debt or equity component does not impact its business performance. The theory given by Modigilani and Miller is known as capital irrelevancy theory according to which market value of a company is only affected by its future growth and does not have any relationship with the capital structure financing decision. The assumption of capital structuring irrelevancy on business performance is based on the fact that debt financing does not have any impact on the operating profits as cost of borrowing funds is same for investors and companies. The market value of a leveraged company having debt financing and an unleveraged company with no debt finance is relatively same as per capital structure theory if both have same future growth prospects (Brigham and Ehrhardt, 2007). References Baker, K.H. and Martin, G.S. 2011. Capital Structure and Corporate Financing Decisions: Theory, Evidence, and Practice. John Wiley Sons. Brigham, E. and Ehrhardt, M. 2007. Financial Management: Theory Practice. Cengage Learning.

ompare and contrast the role of two minor characters from two different plays Essay Example For Students

ompare and contrast the role of two minor characters from two different plays Essay In the play Twelfth Night Maria is a waiting gentlewoman for Lady Olivia. She mainly plays the part of a catalyst and shows an interest in playing jokes particularly on Malvolio. Another waiting gentlewoman is Charmian in the play Antony and Cleopatra. She can best be described as a loyal servant and friend to Cleopatra. Both of these women play significant roles in their respective plays although they do not serve for the same purpose. Maria role in Twelfth night is to stir up trouble. Although she is a servant to Olivia she is not genuinely thinking of Olivia when she tries to enforce the rules. This is shown when Maria says My lady will hang thee for thy absence. (Act I Sc. 5 Line 3). She is exaggerating but it is interesting how instead of saying, You are supposed to be here! she says, My lady will kill you when she sees you. It more seems like Maria is trying to tell Feste how much trouble he is in then to scold him. This is in contrast to how I believe Charmian would have handled the situation. Charmian is portrayed as a friend to Cleopatra and therefore is truly thinking about pleasing Cleopatra. In the same situation Charmian would have been angrier that Feste left and that he did not think about Olivia. This shows the different ways that Maria and Charmian feel about serving their Lady. Charmian and Maria both have the same duty to serve their Lady but the importance of each as a waiting gentlewoman is different. Olivia and Cleopatra are both in the last act of their respective plays but in Twelfth Night, Maria is no where to be seen. Most of the cast comes on stage but Maria never does. In Antony and Cleopatra, Charmian is on stage with Cleopatra for almost the whole last act. This suggests the function Shakespeare intended for the two characters was very different. Charmian was mainly meant to be a supporting character for Cleopatra. This is able to be seen in scenes such as Act I Scene 5 where Cleopatra and Charmian have a friendly conversation in which they joke around about men. Shakespeares function for Maria was as a catalyst that would help to spread the trickery going on in the play. She is an organizer of the trick played on Malvolio. It is ironic that she is a servant and spends most of the play ordering people around. An example of this is when she says: Nay, I prithee, put on this gown and this beard; make him beleive thou art Sir Topas the curate. Do it uickly. Ill call Sir Toby the whilst. (Act IV Scene 2) In this scene although she is not directly involved with speaking with or deceiving Malvolio, she has pressured other characters to do it for her. She does have one scene (Act II Scene 5 Lines 15-30) where she actually does participate in tricking Malvolio by dropping the letter that Malvolio will find but she quickly leaves and only Sir Toby, Sir Andrew, and Fabian are left. During Twelfth Night, Maria is in many scenes alone with people other than Olivia. It gives the impression that she is sneaking around behind Olivias back or is neglecting her. This is -Olivias period of mourning yet Maria is not with her for a large amount of the play. Alternitavly, Charmian is never in a scene without Cleopatra being there too. Even in the final moments of her life Cleopatras body is next to her (Act V Sc. 2 Lines 310-328). The characters of Charmian and Maria differ in their roles, amount of duty that they have to their superiors, interaction with other characters, how much, when, where, and with whom they appear on stage. Although they are both gentlewomen their characters are extremely different and serve a unique purpose in each play.