Trading or Trading Conditions
Hayek and Milton Friedman
Comunism and Marxism
Sought to smash capitalism Lenin the leader of the revolution, urged
He has trouble Lenin had an economic disaster on his hands
Comunism and Socialism
With Lenin creating Soviet communism and then the success of communism in China and other countries, it seems to point to a model for the development of modern society. At the time, the communist bloc seemed to be more socialist than all developed countries.
The most significant difference between capitalism and communism is that the government that controls capitalism doesn't develop in a free market. In contrast, communism develops when the government contains everything.
Highland Communism
Highland communism was a basis for becoming socialism. The so-called foundation is the theory of political economy. However, communism aspires to a free market that does not require government intervention and interference.
Employment: In Keynes's influential era, his proposed solution to unemployment was for the government to intervene to spend money and maintain employment. At that time, in the United States and even the world in the popularity of Keynes.
The creation of the IMF and WBG in the 1930s undoubtedly brought more stable employment and economic stability to the world.
With the cold war of 1945, Churchill got voted down because people felt that his ideas and ideals were not applicable and could not stay in power. Then the government took over the market in an all-around way, and after the government took over, a "mixed economy" evolved; that is, a combination of 1/3 socialism and mix. This new system is full of employment, freedom and services.
The failure of European capitalism because based on two points—first, the stock market crash caused by the impact of the Great Depression on the United States. When a bank fails, the panic spreads, and depositors will rush to other banks to withdraw their deposits. So it set off a chain reaction that destroyed the entire financial structure.
Austria lost the war, while Reich Vienna was a cold and hungry city. Socialists and communists were winning the battle for the hearts and minds of the people. The so-called socialism was a society that encouraged hearts and built homes when the world was not at peace doctrine.
1923's Vienna
In 1923 all the countries were printing money, causing the devaluation to become absorbed by the market. After the Wall Street crash of 1929, the Dow fell nearly 13%, and the stock market ended up losing $14 billion that day. It should restore 25 years later. Before that, the trading market appeared, generally black Thursday with alcohol and cigarettes. No income after the crash.
The Comanding Height batter of Ideas
Employee rate and Unemployment rate
Unemployment: World War II In 1941, Keynesian unemployment became government policy after the end of the World War. The Great Depression disappeared when the unemployment rate ended.
With the advent of 1970 in Austria, stagflation also appeared in front of Hayek. Iain Macleod introduced stagflation in a speech to Congress in 1965. What is stagflation? Stagflation is the simultaneous increase of inflation and unemployment, which means that the number of unemployed people will also increase with inflation.
Communism
Marxism-Leninism
Attempts to crush capitalist revolution leader Lenin urged
He was in trouble. Lenin had an economic disaster on his hands
After Lenin's financial tragedy, Lenin instituted a different policy, a new economic policy. With the death of Lenin, Russia, China, and Eastern Europe accepted and implemented a new financial life following the new Marxism-Leninism.
New York, Roaring 1920s
Europe suffered from the trauma of the First World War. However, America was prosperous at the time, but from the black market Thursday, October 24, 1929, Roger Babson told the world that the stock market crashed this time and all walks of life were affected. He predicted a "market crash," after which the market began to slide also meant millions of people were about to lose their jobs and income. Capitalism became divided on behalf of classes, and these class-based societies are widely known as socialist countries. Today we are still living in the life of capitalism under the new system.
From history to now we have experienced:
1929 Great Depression
1987 Black Monday
2001 dot-com bubble burst
2008 financial crisis
2020 COVID-19 pandemic.
The existence of class and the coexistence of capital
Captialism
Europe 1931
The failure of capitalism in Europe caused a profound impact on the banks, the industry, the workers and the people involved in all aspects of the capitalist class. Then Keynes invented macroeconomics, the concept of which implements some economic characteristics from history to the present (unemployment rate, gross production rate, inflation)
Socialism
Highland Communism:
1919''s Vienna
分支主題
After Austria lost the war, the revolution rose, socialism and the Communist Party won hearts and minds.
1919's in Vienna
Government Control and Keynes
Keynes put forward government control at the time. He believed that development would be better and better under the power of the government. His belief continued until World War II. Keynes argues that telling the government during the Great Depression should increase spending, reduce deficits and put purchasing power in the hands of the people. When the economy is good, build a surplus and reduce spending—on the other hand, seeing the socialist economy of the new Soviet Union and India become marked by government control.
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Free Market
World Bank and IMF
New Hampshire, 1944 Keynes and scholars from all over the world gathered here at the Bretton Woods Conference of depression; this is witnessing a significant rise and creation is the World Bank Group (WBG). When it comes to the World Bank, it will involve many industries bringing together professionals from different fields to discuss how to stabilize the world's economy.
The remaining three IMF and WBG are focused on addressing financing, technology, insurance, politics and knowledge. An organization exists for developing countries to control their economies and reduce poverty.
According to the survey, the organization of the World Bank is far more than these. As an international organization, the IMF provides funds and programs for the economic development of developing countries. Moreover, have complementary missions. They were founded in 1944 in 1930 after the Great Depression of the 1930s.
The World Bank comprises five institutions for shared prosperity and sustainable development. The institutions are IBRD, IDA, IFC, MIGA and ICSID. Among them, IBRD and IDA have a great responsibility. The IBRD is a country that helps middle-income countries in good standing and is a member state. IDA is mainly to investigate and help the poorest countries for the primary purpose.
