By Ivan T. Berend
A massive new historical past of monetary regimes and financial functionality during the 20th century. Ivan T. Berend seems to be on the old improvement of the twentieth-century ecu financial system, reading either its disasters and its successes in responding to the demanding situations of this crisis-ridden and bothered yet hugely winning age. The booklet surveys the ecu economy's chronological improvement, the most components of monetary development, and some of the financial regimes that have been invented and brought in Europe throughout the 20th century. Professor Berend indicates how the giant disparity among the eu areas that had characterised past classes progressively started to disappear throughout the process the 20th century as increasingly more international locations reached a kind of related point of financial improvement. This obtainable e-book may be required analyzing for college kids in eu monetary historical past, economics, and smooth ecu heritage.
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Extra info for An Economic History of Twentieth-Century Europe: Economic Regimes from Laissez-Faire to Globalization
Though a small company with 200 workers, Brown Boveri began producing for exports from the beginning. The key to success lay with the founders themselves, especially Brown’s engineering talent. He succeeded in transforming low-voltage electricity into high-voltage power and transporting it as early as the late 1880s. This was the last word in turn-of-thecentury technology. Switzerland, lacking coal resources, began exploiting its rich water resources and initiated the widespread construction of hydroelectric power stations.
Before the war, more than one-third (and in some cases such as Norway and Britain around 50%) of the active population worked in services, mostly in trade, transportation, banking, and personal service branches, which produced 30–45% of the gross domestic product (GDP) in Western Europe. Indeed, the continent’s economy reached a zenith: between 1900 and 1913 European GDP increased by an impressive 27%. By the early twentieth century, the Western European countries essentially ruled the world and forged ahead along their chosen path toward economic progress.
Between 1891 and 1900, 38% of Swedish exports consisted of unprocessed wood and 8% of pulp and paper; by 1911– 1913, the share of wood exports dropped to 26%, while pulp and paper increased to 18% (Fridlizius, 1963). Between 1896 and 1912, the Swedish pulp and paper industry, an export sector par excellence with 75–80% of its production exported, increased its output by 11% annually and became the most dynamic branch of industry. From the 1890s, the Swedish iron and steel industry had recovered sufficiently from the shock of the British industrial revolution to be able to renew itself according to the newer technology of the Siemens-Martin process.
An Economic History of Twentieth-Century Europe: Economic Regimes from Laissez-Faire to Globalization by Ivan T. Berend