Forging the Modern World FINAL ACTUAL Exam Questions and CORRECT ANSWERS
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Forging the Modern World
Institution
Forging The Modern World
Forging the Modern World FINAL
ACTUAL Exam Questions and CORRECT
ANSWERS
Free trade and comparative advantage - CORRECT ANSWER- -originating 18th century
-Adam Smith argues free trade will produce greater wealth than mercantilist trade; way
capitalism should work
-notion of laissez-faire c...
Forging the Modern World FINAL
ACTUAL Exam Questions and CORRECT
ANSWERS
Free trade and comparative advantage - CORRECT ANSWER- ✔✔-originating 18th century
-Adam Smith argues free trade will produce greater wealth than mercantilist trade; way
capitalism should work
-notion of laissez-faire capitalism-could create wealth
-greed of capitalists generally negates itself and produces results that are advantageous to but
unimagined by individual
-increase profits
-comparative advantage: producing at lower cost than anyone
-wealth of nations was defense in free capitalism
Communism - CORRECT ANSWER- ✔✔-originating in 19th century
-Karl Marx & Frierich Engels: Germans who studied and worked in France and England
-Imagined a revolution that will transform Europe-in manifesto 1848 (showed the struggle
between social classes: important for a persons identity)
-"let the ruling class tremble at a communist revolution"
-bourgeoisie couldn't exist without revolutionizing
-critique of capitalism
-Marx said capitalist economic production would cause communist revolutions
-monetary and profitable assets in order to create equality for all individuals opposed to
competition asserted by capitalism, focusing on providing middle working class with fair
potential against bourgeoisie
Great Divergence - CORRECT ANSWER- ✔✔-18th century
-By the early 1900s, the North Atlantic world (especially the US, Great Britain, France, and
Germany) controlled 80% of the world's industrial output. A century earlier, india and china
had been responsible for more than half
-western world became most powerful and wealthy civilization
, OPEC Oil Embargo and Stagflation - CORRECT ANSWER- ✔✔-During the 1970s, much of
the Western world suffered from stagflation, an unprecedented combination of high inflation,
relatively high unemployment, and stagnant economic growth
-High inflation was caused by too much demand for goods and too little supply, but economic
stagnation prevented the creation of more jobs to satisfy that demand
-the reduced supply and rising price of oil occasioned by the Organization of the Petroleum
Exporting Countries (OPEC)'s oil embargo of 1973 only added to the West's economic woes
by augmenting the rate of inflation even further
-The embargo gave Middle Eastern oil-rich countries greater economic leverage on the global
stage
-countries producing fossil fuels and products give them strength
Berlin Conference - CORRECT ANSWER- ✔✔-1884-1885
-Regulated European colonization and trade in Africa during the New Imperialism period,
and coincided with Germany's sudden emergence as an imperial power
-accommodating conflicting territorial claims
Social Darwinism - CORRECT ANSWER- ✔✔-19th century
-European empires latched onto theories of social darwinism
-def: scientific principles of evolution could explain political and social conflict and
outcomes among society
-provided states with the fittest selected by God or nature to dominate their rivals
-emerged in the UK, the US and wester Europe in the 1870s, and which sought to apply
biological concepts of natural selection and survival of the fittest to sociology and politics
Civilizing Mission - CORRECT ANSWER- ✔✔-19th century
-advocates of this brushed aside absurdities like this to emphasize the good-schools,
hospitals, sewers--that the colonizers brought
-Rudyard Kipling's poem, "The White Man's Burden" illustrates this attitude is a rationale for
intervention or colonization, proposing to contribute to the spread of civilization, mostly
amounting to the Westernization of indigenous people
White Man's Burden - CORRECT ANSWER- ✔✔-written in 1899 Rudyard Kipling
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