Write a note to explain
the effects of the following:
(a) The British
government’s decision to abolish the Corn Laws.
(b) The coming of
rinderpest to Africa.
(c) The death of men of
working-age in Europe because of the World War.
(d) The Great
Depression on the Indian economy.
(e) The decision of
MNCs to relocate production to Asian countries.
Write a note to explain the effects of the following:
(a) The British government’s decision to abolish the Corn Laws.
(b) The coming of rinderpest to Africa.
(c) The death of men of working-age in Europe because of the World War.
(d) The Great Depression on the Indian economy.
(e) The decision of MNCs to relocate production to Asian countries.
(a) The British government’s decision to abolish the Corn Laws resulted in losses for the agricultural sector, but progress in the industrial sector. Food began to be imported more cheaply into Britain, and thousands of workers involved in cultivation became unemployed. However, consumption increased and the industrial sector grew, with more workers being available in cities than in rural areas.
(b) The coming of rinderpest to Africa caused a loss of livelihood for countless Africans. Using this situation to their advantage, colonising nations conquered and subdued Africa by monopolising scarce cattle resources to force Africans into the labour market.
(c) The death of men of working age in Europe because of the World War reduced the able-bodied workforce in Europe, leading to a steady decline in household incomes and a consequent struggle to meet the living expenditure by families whose men were handicapped or killed.
(d) The Great Depression had a major impact on the Indian economy. Between 1928 and 1934, it reduced Indian imports and exports by nearly half. Wheat prices too fell by 50% during this time. More than the urban areas, the agricultural sector (which dominated livelihoods in rural lands) was badly hit by the Great Depression.
(e) The decision of MNCs to relocate production to Asian countries led to a stimulation of world trade and capital flows. This relocation was on account of low-cost structure and lower wages in Asian countries. It also benefitted the Asian nations because employment increased, and this resulted in quick economic transformation as well.
(a) The British government’s decision to abolish the Corn Laws resulted in losses for the agricultural sector, but progress in the industrial sector. Food began to be imported more cheaply into Britain, and thousands of workers involved in cultivation became unemployed. However, consumption increased and the industrial sector grew, with more workers being available in cities than in rural areas.
(b) The coming of rinderpest to Africa caused a loss of livelihood for countless Africans. Using this situation to their advantage, colonising nations conquered and subdued Africa by monopolising scarce cattle resources to force Africans into the labour market.
(c) The death of men of working age in Europe because of the World War reduced the able-bodied workforce in Europe, leading to a steady decline in household incomes and a consequent struggle to meet the living expenditure by families whose men were handicapped or killed.
(d) The Great Depression had a major impact on the Indian economy. Between 1928 and 1934, it reduced Indian imports and exports by nearly half. Wheat prices too fell by 50% during this time. More than the urban areas, the agricultural sector (which dominated livelihoods in rural lands) was badly hit by the Great Depression.
(e) The decision of MNCs to relocate production to Asian countries led to a stimulation of world trade and capital flows. This relocation was on account of low-cost structure and lower wages in Asian countries. It also benefitted the Asian nations because employment increased, and this resulted in quick economic transformation as well.
