Globalization

Globalization refers to the development of an integrated world economy, exchange of cultural views, thoughts, and products (Wikipedia, 2013). Pologeorgis (2012) states that, essentially globalization began with the exploration and settlement of new lands. Communication and transportation advances have aided in this process.

President Theodore Roosevelt, a leader of progressivism was highly in favor for a reform at a national level. He believed it was the governments duty to regulated businesses and improve the life's of the people. While the second industrial revolution brought major industrial achievement it also gave corporate bosses excessive amount of power, which they used to bend political parties to their favor and progressives such as president Wilson hoped to rectify this(Document 2). During this progressive movement many Americans focused on reform the country in ways that would creating a limitation on major business, such as Rockefeller Standard Oil, that used a unfair monopoly system to build their empire, which was damaging the economy. Roosevelt being the first to take signification action on trust-busting, such as passing the Hepburn Act which was enacted in 1906 set a precedent for the power of the federal government. The Hepburn Act set a maximum price for the freight rates on the railroads and it extended the reach of the Interstate Commerce Commission to regulation of pipelines, freight companies, sleeping-car companies, bridges and ferries. During this period the federal government passed an incredible amount of legislation that mainly regulated the problems in the society to provide a greater sense of regulation and protection for the people. Problems such as overbearing freight prices, vile food preparation and inconsistent economic status were issues that needed to be amended. Roosevelt also focused of the conservation of natural resources to help further developed the nation land and it's usefulness(Document 6). Anti-trust acts, Federal Reserve Acts were also established to break trusts to help improve market rates and improve the quality of life for the working class through more regulations on businesses by the federal government. Roosevelt trust-busting helped

During his time as President, Coolidge vetoed a bill providing bonuses to World War I veterans as the costs were too great, and he also refused to reduce import tariffs on foreign goods (“Calvin Coolidge”). However, Coolidge did support the Kellogg-Briand Pact, which was an international peace plan signed by the U.S, Great Britain, France, Germany, Italy, Japan, along with sixty other nations to outlaw war between the nations, but there was no system for enforcement, besides the nation’s word, which would soon prove not to be enough (“Calvin Coolidge”). Additionally, during Coolidge’s time he believed in free enterprise, and thought it meant that businesses were exempt from government rules. In other words, Coolidge thought regulation would cause businesses to become less profitable, thus leading to an unhappy nation, which is an undesirable goal for a President. In order to prevent this from occuring, Coolidge established regulatory agencies such as the Federal Trade Commission and the Federal Reserve Board to help the businesses (“Calvin Coolidge”). Coolidge’s laissez-faire attitude also extended to the farmers, where he vetoed the McNary-Haugen Bill in 1927 and in 1928, which would have let the government purchase and store crop surpluses (“Calvin

That is until F. Roosevelt stepped into office and offered the public the New Deal for recovery, relief and reform. Within his first 100 days of presidency he created 15 major laws and gave the bank a holiday. He created the Emergency Banking Act allowing the federal government to inspect banks, the Banking Act of 1933 which set in place rules and regulations to ensure banks are solvent, and the Glass-Steagall Act which created the FDIC to guarantee people their money back up to a certain amount. He also initiated the National Recovery Administration to write codes for each industry to encourage cooperation among competing business to set stable prices and wages, it was ruled unconstitutional in 1935. The Agriculture Adjustment Act is started to balance supply and demand for farm

Franklin D. Roosevelt in the 1932 election and Roosevelt won by a landslide carrying 42 states and Hoover only had 6. Roosevelt was determined to get us out of the Depression so he came up with the New Deal. This was designed to specifically help people who were affected by the depression. Roosevelt stated he would Relief, Reform and Recover America. Relief was to help out those who were unemployed and suffering. The Reform was to find out what the causes were and to prevent them from happening again and the Recover was to fix the economy. Roosevelt’s quest to end the Great Depression was just beginning. He asked Congress to end Prohibition which was later done that year. He created the CCC in 1933 that lasted for ten years and its purpose was conservation of resources. It also provided 2.5 million jobs to men where they earned thirty dollars a month. CWA didn’t last long at all. It was a construction job and lasted a year, but in that year gave over 4 million people jobs. They worked on things like rivers, schools and roads. Also in 1933 the Glass-Steagall Act was passed. This gave regulations to banks and people could obtain insurance up to 5,000 dollars through the new FDIC. After this people were no longer afraid to put their money in the bank. TVA is known as one of Roosevelt’s most ambitious act. This was created for the Tennessee River watershed and built 16 dams to control flooding and create hydraulic power. It also helped with agriculture

He started off with saying “We have nothing to fear but fear itself.” The New Deal was meant to try to restore and recover farms and their prosperity. This New Deal was enacted by President Roosevelt within the first three months of his candidacy. The New Deal was the set of federal programs launched by President Franklin D. Roosevelt after taking office in 1933, in response to the calamity of the Great Depression and the Dust Bowl, and lasting until the Second World War in 1942. The New Deal was important to society because it provided short term relief and long term structural relief. However, it did not end the Great Depression due to Roosevelt’s political enemies fighting him about it.The next act that was really important was the Taylor Grazing Act of 1934. This act provided regulation of grazing on public land to expand the range of farming and regulate their use. This act permitted 80,000,000 acres of unreserved land that could be used for farming. These permits can also be used for other things such as building fences, reservoirs and other

Theodore Roosevelt advanced the economy the most with the Hepburn Act, the Sherman Anti-Trust Act, and The “Trustbuster”. The Hepburn Act gave our government more control over railroad shipping rates, which were quickly spiraling out of control thanks to monopolies. (A monopoly is a company that has complete control over a product/service). In fact, the Sherman Anti-Trust Act made it illegal for companies to form monopolies. It was thanks to this that Roosevelt broke up 42 monopolies during

The great depression hit everyone, crippling the economy and killing the working class. While President Herbert Hoover inherited much of his predecessors failing policies, he also took on most of the blame. Most saw him as insensitive to the millions of suffering Americans which led to his defeat in the following election to President Franklin Delano Roosevelt. President Roosevelt came up with the plan the new deal to help the economy recover, reform it, and relieve it and in the new deal there was the Agriculture Adjustment Act, Securities and Exchange Commission, and the Social Securities Act.

Farmers all through the 1920s had experienced “intense competition and declining prices because of overproduction [;] U.S. agricultural interests lobbied the federal government for protection against agricultural imports” (Britannica 2015). Herbert Hoover had sided with the farmers in raising Agricultural tariffs that eventually led to his presidency and signing of the act. This Smoot Hawley Tariff as it was called would “increase the cost of imported goods so that U.S. consumers would spend their money on U.S. products” in turn would save U.S. jobs in “import competing industries” (Suranovic 2012). The act went through various revisions leading up to the presidents signing that rose tariffs for

Hoover wanted to help the American economy to recover by encouraging American businesses to work together; he did this by passing the Smoot-Hawley Tariff in 1930, an improved version of the Fordney-McCumber tariff. This meant that American Businesses had to buy from American Suppliers so as to continue making a profit; it also meant that other countries could no longer sell as much produce to America, one of the worlds largest consumers. Other countries were of course suffering in the same depression which was worsened for them by the effects of the First World War. As a result of this other countries began to pass tariffs of their own, this reduced international

Woodrow Wilson is a reformer. He focused on the reform of the social, political and economic aspect of the United States. He is also the only democratic president between 1897 to 1933. He was known to be progressive. During his first term, the Federal Reserve Act, Clayton Antitrust Act and Federal Farm Loan Act was passed. The Federal Reserve Act created the Federal Reserve System. The system can issue the US dollar. Clayton Antitrust Act is an antitrust law. It protected the customers from the monopoly of the business. It tried to stop the price discrimination and thus stop the monopoly of the business. It took control of the mergers and acquisitions. Federal Farm Loan Act increased the credit for the farmers. Farmers were able to borrow money more easily with a bigger amount. The rate of interest is lower so the farmers could repay the loan easier. It helped the normal citizen to fight against the big companies.

Although the 1920’s brought about great economic boom for Americans, the following decade brought about The Great Depression, many communities faced true hardships among them were the agricultural community. Franklin D. Roosevelt sought to help the struggling American economy by introducing the New Deal. As soon as President Roosevelt came into office he enacted the, “Agricultural Adjustment Act (AAA) to provide relief to farmers” (Hardman 1999). This act provided famers with government subsidies for their crops and at times even paying farmers not to grow food. The New Deal worked for some farmers while others faced even more obstacles due to the Dust Bowl.

Globalization is difficult to simply define due to the variety of changing definitions that have been established over previous decades. Hamilton and Webster (2012) suggest that globalization is the connection between nations, defining globalization as a process in which barriers are reduced in order to encourage exchanges between countries. This view proposes that globalization refers very much so to the trade barriers and the improved communications between countries in order to ensure the world is unified. Globalization increases economic activity across the world and opens up markets for foreign investment.

Frequently, people are unclear of exactly what Globalization means. Globalization is the tendency of the world's economies to act as a single interdependent economy. It can be described as the increased movement of people, knowledge, ideas, goods and money across national borders to make the world more unified in a sense. Globalization is often thought of in economic terms but as we know there are other components with this idea like, economics, and cultures. There is a huge debate of whether or not globalization is positive or negative.

Globalization can best be defined as the shrinking of our world. As technology advances the gaps between Countries is closed, and our society as a whole becomes more integrated. Globalization is something that has been occurring for thousands of years, with one early example of Globalization being the use of the Silk Road, which connected China and Europe during the Middle Ages. Globalization can offer businesses many was to increase business, while at the same time threatening them (Globalization101.org, 2014).