in 1973, the countries of the west faced a new economic hardship when? course hero

Why is the status quo stronger than it was in 1973?

In part, it's because there was an ideological vacuum when the financial markets crashed.

What did Alpert argue about the world economy?

Alpert argues that unlike in the aftermath of the second world war there were no new institutions developed to manage a changing global economy, nothing to resemble the United Nations, the International Monetary Fund and the World Bank . Nor has there been any significant change in economic thinking.

How long did the Yom Kippur war last?

By Christmas, Britain was preparing for a three-day week. The Yom Kippur war lasted less than a month but its effects lasted four decades.

What was Callaghan's repudiation of Keynesianism and the shift at the Treasury to an?

Callaghan's repudiation of Keynesianism and the shift at the Treasury to an early form of monetarism were examples of the new mood. This, though, proved to be a staging post – in the US and Britain at least – to a wholly different way of looking at the world.

How did the Opec embargo affect the oil market?

Cheap crude had been a key factor in the long boom and the Opec embargo increased oil prices fourfold by the end of the year . Dearer energy pushed up business costs and reduced the disposable incomes of workers. Simultaneously inflationary and deflationary, it resulted in a new word entering the lexicon of economics: stagflation.

What is Daniel Alpert's new book about?

In his new book, the investment banker Daniel Alpert says the world is suffering from oversupply. This has been generated from the biggest change of all in the past 40 years: the spread of the market economy to all corners of the globe; to China, to India and to the former Soviet Union.

What were the symptoms of the financial crisis of 2008-09?

In 1973, the symptoms of trouble were falling profitability, industrial unrest and a rising cost of living. Today they are falling real wages, excessively high levels of debt and a dysfunctional financial system.

What does Emalee dream of?

A high school sophomore, Emalee dreams of being a veterinarian or maybe a marine biologist. The house and yard ring with the yelps of a dozen Chihuahuas and other small dogs, some of them strays dropped off by neighbors.

What is the poorest county in West Virginia?

McDowell County, the poorest in West Virginia, has been emblematic of entrenched American poverty for more than a half-century. John F. Kennedy campaigned here in 1960 and was so appalled that he promised to send help if elected president. His first executive order created the modern food stamp program, whose first recipients were McDowell County residents. When President Lyndon B. Johnson declared “unconditional war on poverty” in 1964, it was the squalor of Appalachia he had in mind. The federal programs that followed — Medicare, Medicaid, free school lunches and others — lifted tens of thousands above a subsistence standard of living.

Where did Emalee Short play with her dog?

Emalee Short played with her dog outside her grandparents’ home in Hensley, W.Va., in long-struggling McDowell County.

What does "other mommy and daddy" mean in "Emalee"?

McNeely encourages her granddaughter to aim for college, which would mean leaving McDowell County, she said that “her other mommy and daddy” — meaning Emalee’s biological parents — “and all her aunts and uncles, they don’t want her to go.”

What is Emalee's upward bound?

A confident teenager in a “Twilight” T-shirt, Emalee is enrolled in Upward Bound, the federal program that offers Saturday classes and summer school for bright students aspiring to college. “I want to be one of the ones who gets out of here,” she said. “I don’t want people to talk about me” — meaning the recitation of damaged young lives that is a regular part of catching up.

How many babies were born in 2011 in Welch?

Of the 115 babies born in 2011 at Welch Community Hospital, over 40 had been exposed to drugs. Largely as a consequence of the drug scourge, a problem widespread in rural America, the incarceration rate in West Virginia is one of the highest in the country.

Where did Alma and Randy McNeely live?

Alma and Randy McNeely, both 50, tried life in Tennessee. But they returned to McDowell County to be close to their large extended family.

Etymology

The etymology of Bangladesh (Country of Bengal) can be traced to the early 20th century, when Bengali patriotic songs, such as Namo Namo Namo Bangladesh Momo by Kazi Nazrul Islam and Aaji Bangladesher Hridoy by Rabindranath Tagore, used the term. The term Bangladesh was often written as two words, Bangla Desh, in the past.

History

Stone Age tools found in Bangladesh indicate human habitation for over 20,000 years, and remnants of Copper Age settlements date back 4,000 years. Ancient Bengal was settled by Austroasiatics, Tibeto-Burmans, Dravidians and Indo-Aryans in consecutive waves of migration.

Geography

Bangladesh is a small, lush country in South Asia; located on the Bay of Bengal. It is surrounded almost entirely by neighbouring India —and shares a small border with Myanmar to its southeast, though it lies very close to Nepal, Bhutan, and China. The country is divided into three regions.

Politics and government

Bangladesh is a de jure representative democracy under its constitution, with a Westminster -style unitary parliamentary republic that has universal suffrage. The head of government is the Prime Minister, who is invited to form a government every five years by the President.

Economy

Bangladesh has the world's 39th largest economy in terms of market exchange rates and 29th largest in terms of purchasing power parity, which ranks second in South Asia after India. Bangladesh is also one of the world's fastest-growing economies and one of the fastest growing middle-income countries. The country has a market-based mixed economy.

Demographics

Dhaka is Bangladesh's capital and largest city and is overseen by two city corporations who manage between them the northern and southern part of the city. There are 12 city corporations which hold mayoral elections: Dhaka South, Dhaka North, Chittagong, Comilla, Khulna, Mymensingh, Sylhet, Rajshahi, Barisal, Rangpur, Gazipur and Narayanganj.

Education

Bangladesh has a literacy rate of 74.7% percent as of 2019: 77.4% for males and 71.9% for females. The country's educational system is three-tiered and heavily subsidised, with the government operating many schools at the primary, secondary and higher secondary levels and subsidising many private schools.