Answer:
Banks needed a source of emergency reserves to prevent the panics and resulting runs from driving them out of business. A particularly severe panic in 1907 resulted in bank runs that wreaked havoc on the fragile banking system and ultimately led Congress in 1913 to write the Federal Reserve Act.
His political philosophies form its foundation
John Locke was a very famous Enlightenment philosopher featuring a plethora of individualism in both his concepts and beliefs.
Hope this helps! :)
Three major factors that contribute to Africa's lack of economic and human development would be extreme corruption in government, a lack of sustainable resources, and seemingly endless tribal warfare.
