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Results tagged with Search options answers only user 4935

Questions which concern the historical management, distribution, and usage of resources; why a particular resource, or state of production, occurred in a certain way.

11
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I would say all those possibilities you listed are correct. Trade could be paid in paper money, which could then be redeemed for metal and shipped home. But even in the early 1800s, trade could be co …
answered Sep 18 '14 by Semaphore
13
votes
The Industrial Revolution resulted in massive gains for worker productivity. The textile industry in particular was a leading and early driver of the industrialisation process. In fact, the importance …
answered Sep 20 '15 by Semaphore
6
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disasters, the oil price shock, and general global economic downturn. Beginning first in 1989, a drought hit the agricultural sector, at the time almost 1/4 of the Philippines economy, hard. Next … addition to the series of unfortunate events, the global economy went into a downturn due to an oil price shock induced by the Gulf War. The weakness of the economy of the Philippines came to the fore …
answered Dec 5 '17 by Semaphore
28
votes
The United States abandoned the gold standard on 15 August 1971. Since then it has been using fiat money, which is not backed by any commodity. It derives its value solely from government authority. …
answered Oct 13 '14 by Semaphore
10
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According to the autobiography of Lord Denis Healey, who was Chancellor of the Exchequer from 1974 to 1979, Britain only drew half of the IMF loan. Furthermore, he states that drawn amount were repaid …
answered May 27 '15 by Semaphore
13
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Basically, the Pseudohistory Channel or whoever you heard this from is simply wrong. Rather than a gold standard, the framers of the US Constitution tried to introduce a bimetallic standard - that is, …
answered Sep 23 '15 by Semaphore
8
votes
Britain was by far the leading shipbuilder during this period. By the late 19th century, the two great centres of British shipbuilding, and by extension of the world, were the Clyde and the North East …
answered Jan 20 '18 by Semaphore
9
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did not "effectively cause" the economy to implode - there were serious pre-existing weaknesses in the late 1920s economy. In fact a recession was already brewing before the stock market had even … autumn of 1929 the economy was well into a depression ... A penetrating student of the economic behavior of this period has said that the market slump, "reflected, in the main, the change which was …
answered Jan 21 '15 by Semaphore