Michael Blasius 12/06/07 Video #11 Exchange Rates: What in the World is a Dollar Worth? Before 1933, most of the world used gold as the standard currency by which to measure currency against. When England moved away from the gold standard, they faile
Michael Blasius 11/29/07 Video #12 There is a very strong opposition to globalization which is rrepresented by the poor and their sympathizers. Sometimes this opposition can be violent as they believe that this will only help their cause. The police
Michael Blasius 9/20/07 Video #2 Markets: Do They Meet Our Needs? In 1945, World War II had just ended and people were starting families. The demand for housing suddenly increased tremendously. Veterans of the war struggled to find an adequate place
Michael Blasius 9/27/07 Video #3 Supply and Demand: What Sets the Price? In the past, water has been of very low cost. In 1975, a drawn out drought caused fires and most importantly, water shortages. Soon, the rationing of water began in California.
Michael Blasius 10/4/07 Video #5 Perfect Competition and Inelastic Demand: Can the Farmer Make a Profit? The United States entry into World War I prompted farmers to overproduce food in order to help the war effort. Productivity and profits soared du
Michael Blasius 10/25/07 Video #6 Monopoly: Who's in Control? In 1890, Standard Oil, owned by John D Rockefeller, had a stranglehold on the oil industry. By buying the oil that other men drilled, made tons of money because he was able to control the
Michael Blasius 11/08/07 Video #8 Economic Efficiency: What Price, Controls? In a market, the invisible hand decides how much goods go for and how much is produced. Because of the Vietnam War and programs of the Great Society, inflation caused prices
Michael Blasius 11/29/07 Video #10 Globalization is a trend which includes the spreading of industry throughout the world. As a result, people are wearing the same fashions and using the same products worldwide. Also, many people are left hungry and