ECO4199- Final Exam Guide - Comprehensive Notes for the exam ( 51 pages long!)
28 Mar 2018
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Document Summary
19th-century capitalism had experienced periodic crises, leading to increasingly protectionist policies adopted by a number of fast-growing economies (the u. s. , Germany), to the pursuit of imperialistic policies in search for export markets (uk, France, and to a lesser extent other european countries). These trends contributed to the emergence of wwi. Later, wwii would provide further momentum for a full-scale adoption of a. The 1929 great depression, which led to a reshaping of the institutional architecture of capitalist societies/economies. The social safety net (the new deal reforms in the us, similar reforms in europe and. The welfare state in the post-wwii west. An increasingly larger part of the economy became state-run, particularly in europe (and, of course, in the communist bloc). The notion that a state-run economy is conducive to a less volatile gdp. Also, increased reliance on fiscal and monetary policy to stabilize gdp around its potential.
