Globalization must be expected to influence the distribution of income as well as its level. So far as the distribution of income between countries is concerned, standard theory would lead one to expect that all countries will benefit. Economists have long preached that trade is mutually beneficial, and most of us believe that the experience of widespread growth alongside rapidly growing trade in the postwar period serves to substantiate that. Similarly most FDI goes where a multinational has intellectual capital that can contribute something to the local economy, and is therefore likely to be mutually beneficial to investor and recipient. And a flow of capital that finances a real investment is again likely to benefit both parties, since the yield on the investment is expected to be higher than the rate of interest the borrower has to pay, while that rate of interest is also likely to be higher than the lender could expect at home since otherwise there would have been no incentive to send it abroad. Loose talk about free trade making the rich countries richer and poor countries poorer finds no support in economic analysis.
Everything was part of the colonial economic system: the overseas territories supplied raw materials to the metropolis and these often sold the manufactures they produced under a monopoly regime to their colonies. With the passage of time, these practices were banned in the different countries that carried them out. Or at least officially, since unofficially the slave trade continued well into the nineteenth century, practically until the last colonial territories obtained independence or achieved a more rigorous political status within the State than that of a mere colony.
Truman Doctrine
In 1947, Truman pledged that the US would aid any nation in resisting the growing threat of communism to help prevent its spread.
Answer:
America's return to normalcy also brought "healthy frugality" and "renewed isolationism."
Explanation:
"Return to Normalcy" was part of <em>Warren G Harding's campaign. </em>He was the 29th president of the United States. According to him, the USA should return to normalcy by <u>preventing wasteful spending and extravagance.</u> For him, this was a healthy way of becoming frugal because <u>it will lessen the tax burden on the people (income taxes). </u>This will also bring about "renewed isolationism" on the nation, which will make the USA more advanced and self-reliant. He was also confident of bringing peace to the nation.
Africa American leaders who helped develop the Underground Railroad. A network of safe places owned by free blacks or whites against slavery that helped enslaved people escape
