The paper "Main Features of International Economy in the 20th Century" is an outstanding example of macro and microeconomics coursework. The economic history of the globe is termed as a record of the economic activities such as the consumption, distribution, production of goods and services of human beings, which spans a certain period of time which has been recorded in history and also have an evidenced prehistory. Economic history sets out to explain how economies have developed over time. In more precise terms economic history seems to be less concerned about what individuals did and what the political history does and rather it is more concerned with the largest group of people such as farmers and industrial workers and therefore sets out to explain the technological changes and how the business world as well as offer an analysis of the effects of various institutions such as the trade associations and governments on the economy of a country.
In this regard, this paper sets out to use examples from a particular period of economic history since the industrial revolution to discuss the main features of the international economy during that particular period and explain the role of free trade and/or protectionism in shaping the international economy during that period.
The particular period of economic history to be used in this case is the 20th century. Discussion Main features of the international economy in the 20th Century The beginning of the 20th century is mainly characterized with huge changes in the means and modes of artistic production and this was mainly as a result of the wide range of movements and as a great number of countries re-evaluated their techniques, media, color, aesthetics as well as many other aspects related to art.
The impressionists who existed at the end of the 19th century played an essential role in championing the landscape painting and they also revolutionized the techniques and color use that would open the floodgates for the movements that evolved in the early years of the 20th century (UNESCO, 2008, p. 600). These mirrored the social and economic changes that occurred on the globe during that time. In the first two decades of the century, there was a massive industrial, social, economic and cultural change.
International trade which was also present at the time came about with a number of advantages such as increased growth along with prosperity. Through international trade, people who engaged in trade and their countries achieved growth economically and thus they uplifted their living standards. A major disadvantage is that there was also rise on poverty levels leading to the development or mushrooming of slums in some of the major cities as people came to the cities in such as manual jobs and to work for the rich in the cities (Keylor, 2011, p.
30). Another group of features that mark the 20th-century international economy in an effective manner is the concept of urbanization, increase in technology, architectural advances and spread of information and goods (Economides, S. & Wilson, 2002, p. 50). Among the stated features the dramatic growth of technology is seen as the most prominent features of the 20th century. In relation to these, there was organized research and practice of science and this eventually lead to a great number of advancements in the engineering, communication, travel, war and medicine fields.
For instance, there was an increase in the types and number of homes appliances as a result of technological advancements, availability of electricity and increase of leisure time and wealth.
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