Currency school

class has grown substantially. In 2001, 38 percent of employed blacks held "white-collar" jobs -- managerial, professional, and administrative positions rather than service jobs or those requiring manual labor. That same year 56 percent of black high school graduates were enrolled in college, compared to 38 percent in 1983. The average income of blacks is lower than that of whites, however, and unemployment of blacks -- particularly of young men -- remains higher than that of whites. And many black Americans

governments to eradicate the phenomenon of corruption brings citizens to no longer believe in the impartiality of institutions. The high level of bribing leads to politic instability and poverty. Originally budgets dedicated to social development such as schools may be diverted to other sectors that do not serve general interests. Moreover the corruption process at high level damages seriously the development of the country because it enhances the inequalities between people especially in term of income.

regional economic integration between the United Kingdom and Asia. The Uk is only part of the European union, where there are many benefits from being part of the regional integration. * Benefits of the euro * Majority are using similar currency (16 out of 27 members). * it is easier to compare prices across Europe, so firms are forced to be more competitive * gives a strong boost to the development of highly liquid pan-European capital market * Increases the range of

European’s investors. Finally the external balance of goods and services ($ US currents) of Turkey is negative (-7,2 billion in 2009) what show that the imports are higher than export in Turkey. * The currency The Turkish currency is the Turkish lira but the reference currency for the exchanges is the US dollar. The “new one Turkish lira”, coming into effect on 1st January 2005 replaced the old Turkish lira whose value was a million times smaller. Today 1 USD = 1,44050 TRY.

Particular issues that caused changes, affected the profound change: CIVIL RIGHTS Main events of this movement: - 1954: Brown VS Board of Education, opposed an American citizen to the board of Education of a city in Kansas, Brown wanted a white only school but was refuses, opposed to the civil rights. - 1955: Montgomery Bus boycott, Rosa Park who refused to go to the back, was arrested - 1963: Birmingham clash, MLK “I have a dream”, LBJ (Lyndon Baines Johnson) address to Congress, speech given in

still concerned by inflation, and have been more so during the last few years. Several theories have attempted to explain it, based on the main schools of thought that have emerged in Economics over the last century. Inflation has often been conceived as one of the elements of the process by which the economy reaches a balance ; an excessive supply of currency, or the pressures brought to bear by wage costs in conditions of almost full employment, have been mentioned. Some writers have therefore accused

renouvelé leurs explications des cycles, ils ont aussi renouvelé leurs prescriptions de politique économique. À la lumière de leurs analyses il est possible de soutenir que la constitutionnalisation des politiques monétaires (central circulation school) n’est pas suffisante pour garantir la stabilité. La constitutionnalisation de la pratique du coefficient de réserve de 100 % peut rétablir la justesse de l’information véhiculée par les taux d’intérêt sur les préférences temporelles des agents

mondiaux et attirent beaucoup de capitaux. En 1997 la concurrence du dollar devient trop importante, le bath est alors dévalué, mais il y a surréaction et tous les pays de la zone dévaluent leurs monnaies. L’économie s’effondre et les systèmes de « currency board » (caisse d’émissions) empêchent de faire fonctionner la planche à billets pour la faire repartir. Le système financier étant jeune et fragile, les capitaux s’en vont et préfèrent retourner vers des lieux plus sûrs : « Fly to safety ». Ainsi

publics. Elle est exogène car elle n’interfère pas dans les mécanismes économiques. C’est une conception en faveur de la neutralité de la monnaie (Currency school) qui distingue la sphère réelle de la sphère monétaire. Cette conception s’oppose à la conception d’une adaptation de l’offre de monnaie endogène aux besoins de l’économie (banking school). • Pour un niveau de revenu national Y donné et un niveau du taux d’intérêt r donné, il existe un niveau de liquidités L égal à l’offre

Mises, Schumpeter…). Il est l’élève de Mises dont il suit le séminaire. Ses travaux sur la monnaie, la théorie des cycles et des fluctuations économiques le font connaitre au plan international. Il est invité à Londres en 1931 et enseigne à la London School of Economics, école à l’époque davantage tournée vers le libéralisme que Cambridge, fief de Keynes et de ses disciples (Richard Kahn, P. Sraffa, J. Robinson, N. Kaldor…). Opposé au nazisme, il reste au Royaume-Uni et acquiert la nationalité britannique