The iron curtain was like a curtain. It separated parts of Europe and was hard to escape the communism.
Its productive power was unmatched. This dominance ... Why Europe ruled the World .... So why did Europe achieve economic dominance? ..... ii) Germany did not have colonies, but did industrialise and become powerful.Trade was the driving force in making Europe into the dominant world power.Europe has been a backwater. Only around 500BC did Europe's southern fringe become an important part of the world,
<u>These two quotes pronounced by President Herbert Hoover, express his viewpoint on the Great Depression</u> and his opinion about the different formulas adopted to overcome it:
- <em>"Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
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- <em>"You cannot extend the mastery of government over the daily life of a people without somewhere making it master of people's souls and thoughts.… Every step in that direction poisons the very roots of liberalism. It poisons political equality, free speech, free press, and equality of opportunity. It is the road not to more liberty but to less liberty."</em>
Hoover became one of the main detractors of Roosevelt's New Deal which, based on Keynesian economics, fostered goverment interventionism in order to boost the depressed demand levels as the mechanism to create employment and economic growth. Such interventionism was materialized by increasing public spending.
In opposition, supporters of free markets and<em> laisez-faire</em> economic policies, such as Hoover, criticized this recovery plan because they believed that markets on their own would reach the most efficient outcomes and that the country would get innecessarily indebted. Moreover, they believed that the situation would be worsened by interventionist policies that hampered certain individual liberties.
<span>Two of the major factors were the railroads and the invention of the assembly line. With the finishing of the transcontinental railroad some 30 years earlier, the US had a nation that was linked coast-to-coast and was able to transport goods in a fraction of the time it previously could. With the invention and perfection of assembly line processes, those goods could now be produced in a fraction of the time, as well.</span>
