MGMT 1030 Lecture Notes - Lecture 25: Jarrow March, Henry Beveridge

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MGMT 1030
Lecture 25
1) Industrial Difficulties, 1914-1945
A) Causes of Depression
Sharp decline in export markets
Loss of domestic markets in countries beginning to
industrialize
British share of world cotton market declined from 57% in
1830 to 12% in 1930
Indian imports of British cotton cloth declined from two
billion square yards in 1900 to 417 million square yards in
1935
Severe balance of payments deficit
Loss of British markets during World War I
Exports could not be increased during the Great
Depression
B) Efforts to Solve Interwar Problems
By Government
Protective tariffs which essentially stops global trade bc
all countries follow suit
Abandonment of gold standard and currency devaluation;
the gold standard creates economic stability bc if a
country doesn’t have the gold to print the money
After the gold standard, currency was valued relative to
other currencies
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Document Summary

Lecture 25: industrial difficulties, 1914-1945, causes of depression. Loss of domestic markets in countries beginning to industrialize. British share of world cotton market declined from 57% in. Indian imports of british cotton cloth declined from two billion square yards in 1900 to 417 million square yards in. Loss of british markets during world war i. Exports could not be increased during the great. Protective tariffs which essentially stops global trade bc all countries follow suit. Abandonment of gold standard and currency devaluation; the gold standard creates economic stability bc if a country doesn"t have the gold to print the money. After the gold standard, currency was valued relative to other currencies. The american currency soon became the standard for comparison. The jarrow factory was about to close down; the members of the community marched down to british parliament to save their factory from closing down. Unfortunately, the british gov"t could not keep it from closing.

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