By Ivan T. Berend
An important new heritage of financial regimes and fiscal functionality in the course of the 20th century. Ivan T. Berend appears to be like on the historical improvement of the twentieth-century eu financial system, studying either its disasters and its successes in responding to the demanding situations of this crisis-ridden and stricken yet hugely profitable age. The booklet surveys the ecu economy's chronological improvement, the most components of monetary development, and a number of the fiscal regimes that have been invented and brought in Europe through the 20th century. Professor Berend exhibits how the mammoth disparity among the ecu areas that had characterised prior classes steadily started to disappear throughout the process the 20 th century as an increasing number of nations reached a roughly related point of monetary improvement. This obtainable booklet can be required examining for college students in eu financial heritage, economics, and glossy ecu heritage.
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Extra resources for An Economic History of Twentieth-Century Europe: Economic Regimes from Laissez-Faire to Globalization
In 1910, services produced 50% of the GDP. While Swedish and Norwegian industrialization was strongly export driven, Denmark’s export economy remained agriculturally based, with a strong food-processing industry. An export-oriented, modern agricultural sector was, in fact, the bedrock of the Danish economy. Between 1893 and 1914 pig stocks increased more than threefold. Food processing emerged as a leading sector and made up one-third of Denmark’s industrial output (Milward and Saul, 1977: 504).
12 europe’s l aissez-faire system and its impact Most currencies thus were not convertible, a major obstacle for the expansion of foreign trade. The pioneer of the gold standard was again Britain, which made important progress in this direction at the end of the eighteenth century, and fully introduced the gold standard in 1821. Other European countries followed much later. In 1867 the European Monetary Congress in Paris advocated the introduction of the gold standard. In that year, Holland went on the gold standard, followed by the Scandinavian countries.
Each country became connected with others. The time and cost of transportation decreased significantly. Other international institutions were established, such as the International Telegraph Union (1865) and the International Postal Association (1875), together with the internationalization of the major European waterways (first the Rhine in 1868), and the metric system (1875). During the 1880s, most of the countries joined the new international patent and copyright agreements. All these paved the way for an international laissez-faire regime in Europe.
An Economic History of Twentieth-Century Europe: Economic Regimes from Laissez-Faire to Globalization by Ivan T. Berend