It would make it a isolated economy because they are not trading or exporting goods with others.
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he Lincoln Douglas Debates were a series of seven public discussions held in 1858 between Abraham Lincoln and Stephen Douglas as they contested the Illinois Senate seat. Lincoln was the Republican Party candidate and Senator Douglas was the incumbent Democratic Party candidate. The debates concerned the issue of slavery and its extension into territories such as Kansas. The Lincoln Douglas debates transformed Abraham Lincoln into a national figure and led to his election to the presidency in 1860.
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Italy
Explanation:
Italy is located on two tectonic plates known as the Eurasian and African plates.
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overproduction of goods and the expansion of unbridled credit by banks.
Explanation:
The Great Depression of the 1930s was the largest recession in history and its causes were overproduction of goods and the expansion of unbridled credit by banks.
The American economy was experiencing a period of euphoria during the 1920s. The US had become the world's leading economic powerhouse and was the largest supplier of manufactures to Europe. In this scenario, banks have expanded their credit rampantly to sustain the increase in production. However, production increased in a way that there was not enough consumer market to dispose of the products. The businessmen lost the conditions to pay their loans to the banks and the financial system collapsed.
Currently, the Federal Reserve has regulatory mechanisms that aim to reduce the risk of unbridled expansion of bank credit, such as the collection of the compulsory deposit and monetary policy. However, it is not possible to say that the risk is non-existent. We live in a special moment where technology has positive impacts, but can also cause negative havoc. For example, virtual currencies, if not well regulated, can cause a new crisis.
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Life in New Netherland During the 1600s, the Dutch created a booming North American colony by recruiting immigrants and cultivating its capital city as a hub for international trade. By the 1650s, the Dutch colony of New Netherland rivaled neighboring English settlements in the New World.
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