<u>Answer:</u>
The economic philosophy that Andrew Carnegie is referring to in this quote is capitalism.
<u>Explanation:</u>
It is clear from the terms used and the process described in the quote that the philosophy Andrew Carnegie is referring to is none other than capitalism. It is because Carnegie is speaking about 'competition' which according to him is beneficial in the growth.
The term 'material development' also clarifies that the quote is in the praise of capitalism. Moreover, Andrew Carnegie was himself a capitalist.
As the head of the administration of his province, the satrap collected taxes and was the supreme judicial authority; he was responsible for internal security and raised and maintained an army.They served as the chief judge for their region, adjudicating disputes and decreeing the punishments for various crimes. Satraps also collected taxes, appointed and removed local officials, and policed the roads and public spaces.
Answer:
Inflation
Explanation:
Germany printed more money than was currently circulating causing mass inflation devaluing the value of german marks.
