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yarga [219]
3 years ago
8

What was the climate of the fayum depression like during the oligocene?

History
1 answer:
maria [59]3 years ago
4 0
<span>The climate was very cold, during one of the most important Ice Ages or Glaciations that affected the whole planet. During the Oligocene, around the world began a cooling that drastically changed the life of mammals, the world was impacted by one of Earth's most dramatic climate changes during The Age of Mammals. <span>A rapid onset of Antarctic glaciation resulted in planetary cooling, which began about 34 million years ago, at the end of the Eocene and early Oligocene.</span></span>
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The basic principles of capitalism were laid out by Scottish philosopher Adam Smith in his influential book published in 1776:  <em>An Inquiry into the Nature and Causes of the Wealth of Nations.</em>  The Nobel-prize winning 20th century economist Milton Friedman said of Adam Smith, "“The key insight of Adam Smith's Wealth of Nations is misleadingly simple: If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it."  Smith argued for such voluntary exchanges within a free market system.  He labeled the government-manipulated economic system that was prevailing in his day as "mercantilism," a system in which governments specifically authorized some merchants as the official agents of commerce (rather than endorsing free enterprise).  The mercantilist system also viewed wealth as though there were a fixed amount of it available in the world, represented by precious metals such as gold and silver, and that nations were in competition over who got more of that fixed amount of world wealth.  Smith saw that wealth was something that could be created and increased through voluntary exchange and free trade.  Smith's ideas formed the basis for what we have come to know as capitalism.  For Smith, the expansion of trade that occurred because of the discovery of the Americas and the discovery of sea routes to Asia were ways that wealth could be exchanged and increased more readily.

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