Economics Essays
5 Essays on Economic History and Development
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written to a Degree Level as aprt of an undergraduate economics course
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shorter Essay Papers to Extended Essays - from 1110 to 3700 words
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Contents
How easy is it to define and measure development? Is a strictly economic definition of development adequate?
‘Male real earnings increased so much during the industrial revolution that claims about declining or static standards of living for the working class can be dismissed.’ Discuss.
To what extent did the interwar motor industry overcome its pre-war difficulties and become one of the industrial success stories of the inter-war period?
Evaluate the role of the service sector in the late Victorian and Edwardian periods.
Towards A New Europe 1939-1992. Examine the impact of the international oil-price rise of 1973 on the economies of Western Europe.
Sample:
To what extent did the interwar motor industry overcome its pre-war difficulties and become one of the industrial success stories of the inter-war period?
The pre-war motor industry was in its infancy and suffered from a lack of investment backing, high production costs, an over engineered end product and a saturation of small family orientated manufactures. Developments in the industry often came from pioneering engineers with components being imported off the continent for the British industry. Britain was lagging behind other European nations. The industry established itself in the inter-war period by relying on entrepreneurs and engineers, such as Herbert Austin who built the first four wheeled English car by 1900. Austin also built the first low horse-power car to substitute the motor-cycle side-car and public transport.
The pre-war industry had high production costs with poor managerial leadership with most manufacturers being family run, resulting in little asset growth within the company as profits were quickly distributed to employees or family. No attention was paid to extend asset growth within the company, increase production efficiency and strive towards obtaining economies of scale. Automobiles were still only available to a minority, the middle classes, who were prepared to pay higher prices for quality, aesthetic appeal and performance. In the inter-war period mass production was never reached (stage three on the diffusion curve) but by the end of the 1930s a large component industry had established itself, which supplied parts to the motor industry on a mass scale. Production costs were also reduced by improved methods of manufacture, which was greatly aided by new industrial technology and techniques, used over the First World War. Advancements revealed were the standardisation of components for industry and the ability to use a semi-skilled work-force...
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