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Notes A
TOPIC 1 - THE RISE OF CAPITALISM IN EUROPE
TOPIC 2 - THE RISE OF DEMOCRACY IN EUROPE
TOPIC 3 - IMPERIALISM AND TERRITORIAL DIVISION OF THE WORLD (COLONIZATION OF AFRICA)
TOPIC 4 - THE RISE OF DICTATORSHIP IN GERMANY, ITALY AND JAPAN
TOPIC 5 - THE RISE OF SOCIALISM
TOPIC 6 - THE EMERGENCE OF U.S.A AS A NEW CAPITALIST SUPER POWER
TOPIC 7 - THREATS TO WORLD PEACE AFTER WWII
TOPIC 8 - NEO-COLONIALISM AND UNDERDEVELOPMENT IN THE THIRD WORLD
1. RISE OF CAPITALISM IN EUROPE
2. COMPETITIVE CAPITALISM AND INDUSTRIAL REVOLUTIONS IN EUROPE
3. IMPERIALISM AND THE TERRITORIAL DIVISION OF THE WORLD
4. RISE OF DEMOCRACY IN EUROPE
5. THE RISE OF DICTATORSHIP IN GERMANY, ITALY AND JAPAN
7. THE EMERGENCE OF THE USA AS A NEW CAPITALIST SUPERPOWER
8. THREATS TO THE WORLD PEACE AFTER THE SECOND WORLD WAR
9. NEO-COLONIALISM AND UNDERDEVELOPMENT OF THIRD WORLD COUNTRIES
WHY USA IS THE MOST
POWERFUL COUNTRY IN THE WORLD?
1. The Most Powerful Military
The first reason why America is the
most powerful country in the world is the US military.
America has one of the largest armed
forces in the world. Although the US military doesn’t have the biggest army in
terms of personnel, it is the strongest with the biggest defense budget in the
world.
2. American Innovation and
Technology
The United States is one of the most
technologically advanced countries in the world. This is a key reason why it is
so powerful.
In the modern world, technology is
strength. Countries that can produce high-tech goods, develop new advanced
machinery and computers, and utilise information and technology effectively,
are ensured influential positions in the global order.
Many countries around the world rely on
American technology and this is an important reason why it is the
most powerful county in the world.
Americas’ ability to innovate not only
ensures the country has a world leader economy, but also means their armed
forces has access to the latest advanced weaponry.
3. The World’s Largest Economy
The size of the US economy is another
reason why America is so powerful.
America has the world’s largest
economy, by far. It makes up nearly a quarter of the entire world economy.
Because of the size of the US economy, it dominates global trade, finance, and
international business. Being the largest economy in the world gives America
immense power.
4. The US Has a Large Population
A third reason why America is a
powerful country is the size of the US population.
America is the third most
populous country in the world. It has 331 million people. Having a large
population helps a country enormously. It allows it to create a bigger economy,
have a larger army and have a more productive workforce.
The large size of the US population
ensures that America’s economy remains dynamic and innovative and this directly
relates to America’s international power.
Not every country with a big population
becomes a superpower. However, America has effectively harnessed its
large population to become an incredibly strong country.
5. Most Valuable Companies
America has some of the world’s largest
and most important businesses, which is one of the primary reasons for its
power.
America has some of the biggest and
most valuable companies by market cap in the world. Apple, Microsoft, Google,
Amazon, and Coca-Cola are just a few of the world’s leading companies.
Businesses such as these have enormous worldwide markets.
Having internationally important
companies that do business around the world is a major factor in America’s
global strength.
American businesses dominate many parts
of the world. They are highly recognisable and are often famous established
brands. This makes the US a powerful country because it means people around the
world build a connection with American lifestyles and values.
American companies also outperform local brands in many countries,
further adding to the American global influence.
FEATURES OF
CAPITALISM
1. Two-Class System
Historically, capitalist society was
characterized by the split between two classes of individuals: the capitalist
class, which owns the means for producing and distributing goods (the owners),
and the working class, who sell their labour to the capitalist class in
exchange for wages (the workers).
The economy is run by individual
corporations that own and operate companies and make decisions as to the use of
resources. But there exists a “division of labour” that allows
for specialization, typically occurring through education and training, further
breaking down the two-class system into subclasses (e.g., the middle class).1
2. Private property
This is one of the most important
characteristics of capitalism where private properties like factories,
machines, and equipment can be owned by private individuals or companies.
3. Freedom of enterprise
Under this system, every individual has
the right to make their own economic decisions without any interference. This
is applicable to both consumers and producers.
4. Limited Government
Role
In a capitalist economy, the government
has little involvement in the functioning of private firms. They intervene only
to prevent a monopoly. All the government has to do is ensure fair competition
among business entities. However, this economic system gives the wealthy an
unfair advantage. An economic inequality, therefore, is the biggest
criticism against capitalist economies.
5. Profit motive
The motive of earning profit is one of
the most important drivers of a capitalist economy. In this system, all the
companies are looking to produce and sell their products to consumers to earn
maximum profit.
6. Markets and
Competition
Competition is the other vital attribute of a capitalist system. Private businesses compete to provide consumers with goods and services that are better, faster, and cheaper. The principle of competition forces businesses to maximize efficiency and offer their products at the lowest prices the market will bear, lest they get put out of business by more efficient and better-priced competitors.
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