Politics in the United States

STAGFLATION IN U.S.INTRODUCTIONAn article from “The New York Times” published on Febuary 13th, 2011 mentioned that:“In the USA, CONGRESS has made a terrible mistake. Amid a rhetorical debate centered on words like “crisis,” “emergency” and “catastrophe,” it acted too fast. While arguments were made about the stimulus bill’s specific components — taxpayer money for condoms, new green cars and golf carts for federal bureaucrats, another round of rebate checks — its more dangerous consequences were overlooked. And now the package threatens a return to the kind of stagflation last seen in the 1970s.From a global perspective, the picture only looks worse. As we have debated how much money to borrow and spend in hopes of jump-starting our economy, we’ve ignored the worldwide stimulus binge. China, Europe and Japan are all spending hundreds of billions of dollars they don’t have in hopes of speeding up their economies, too. That means the very countries we have relied on to buy our bonds, notably China and Japan, are now putting their own bonds on the global credit markets.It seems that no one in Washington is discussing what happens when the world begins this gargantuan borrowing spree. How high will interest rates rise? And more fundamentally, who will have the money to buy our bonds? It is possible that the Federal Reserve will succumb to pressure to “monetize” our debt — that is, print new money to buy our bonds. In fact, the Fed is already suggesting that it will buy long-term Treasury securities in order to lower borrowing costs. If it does, then our money supply, which has already increased substantially over the past year, will grow even faster.To American families, inflation is a destroyer of savings, a killer of wealth, a crusher of confidence. It calls into question the value of our money. And while we all share in the pain, the people whom inflation hits hardest are elderly people who live on fixed incomes, those in the middle class who are struggling to save for retirement and college and lower-income people who live paycheck to paycheck.Combine high inflation and high unemployment and you have stagflation. Hindsight shows how the pain of the late 1970s and early 1980s could have been avoided, yet we’re now again planning to borrow and spend — and raise taxes — as President Jimmy Carter did. Soon we may again find ourselves watching a rising “misery index” of inflation and unemployment together. If that happens, individual earning power will evaporate, and our standard of living will decline….”[Type text] Page 1 STAGFLATION IN U.S.Obviously, we are entering an era of high inflation, to judge by the massive growth of the money supply in the United States, Europe and Asia, and the stubbornness of central bankers who insist that high unemployment demands the creation of even more money. The last time the world went through a similar period was the 1970s. The term that defined the era was "stagflation."Thus because the 1970s stagflation did do great harm to the U.S. economy and global economy as a whole, followed by a period of recesssion and there are evidences that we are on our way to the replay of stagflation nowadays, a thorough understanding of stagflation is crucially important for individuals as well as policy-makers to make reasonable Politics in the United States Politics in the United States Bởi: OpenStaxCollege Americans’ right to vote in free elections is a fundamental element of the nation’s democratic structure and a privilege envied by citizens of more oppressive societies (Photo courtesy of David Goehring/flickr) In describing a nation’s politics, it’s important to define the term Some associate “politics” with power, others with freedom Some with corruption, others with rhetoric How sociologists understand politics? To sociologists, politics is a means of studying a nation or group’s underlying social norms and values A group’s political structure and practices provide insight into its distribution of power and wealth, as well as its larger philosophical and cultural beliefs A cursory sociological analysis of U.S politics might, for instance, suggest that Americans’ desire to promote equality and democracy on a theoretical level is at odds with the nation’s real-life capitalist orientation The famous phrase “by the people, for the people” is at the heart of American politics and sums up the most essential part of this nation’s political system: the notion that citizens willingly and freely elect representatives they believe will look out for their interests Although many Americans take for granted the right of citizens to hold free elections, it is a vital foundation of any democracy However, at the time the U.S government was formed, African Americans and women were denied voting privileges History details the struggles that each of these minority groups undertook to secure rights that had been granted to their white male counterparts Nevertheless, their history (and the earlier history of the struggle for American independence from British rule) has failed to inspire some Americans to show up at the polls or even to register to vote Naturally, citizens must participate in the democratic process in order for their voices to be heard Sociologists understand voting to be at the heart of the U.S political 1/5 Politics in the United States process because it is a fundamental political behavior in a democracy Problems with the democratic process, which include more than limited voter turnout, require us to more closely examine complex social issues Voter Participation Voter participation is essential to the success of the American political system Although many Americans are quick to complain about laws and political leadership, roughly half of the population does not vote in any given election year (United States Elections Project 2010) Some years have seen even lower turnouts; in 2010, for instance, only 37.8 percent of the population participated in the electoral process (United States Elections Project 2011) Poor turnout can skew election results, particularly if one age or socioeconomic group is more diligent in its efforts to make it to the polls Certain voting advocacy groups work to improve turnout Rock the Vote, for example, targets and reaches out to America’s youngest potential voters to educate and equip them to share their voice at the polls Public service promos from celebrity musicians support their cause Native Vote is an organization that strives to inform American Indians about upcoming elections and encourages their participation America’s Hispanic population is reached out to by the National Council of La Raza, which strives to improve voter turnout among the Latino population According to the Pew Research Center, the portion of minority race voters has been increasing steadily over the past few decades (Lopez and Taylor 2009) Race, Gender, and Class Issues Although recent records have shown more minorities voting now than ever before, this trend is still fairly new Historically, African Americans and other minorities have been underrepresented at the polls Black men were not allowed to vote at all until after the Civil War, and black women gained the right to vote along with other women only with the ratification of the Nineteenth Amendment in 1920 For years, African Americans who were brave enough to vote were discouraged by discriminatory legislation, passed in many southern states, which required poll taxes and literacy tests of prospective voters Literacy tests were not outlawed until 1965, when President Lyndon Johnson signed the Voting Rights Act The 1960s saw other important reforms in U.S voting Shortly before the Voting Rights Act was passed, the 1964 U.S Supreme Court case Reynolds v Sims changed the nature of elections This landmark decision reaffirmed the notion of “one person, one vote,” a concept holding that each person’s vote should be counted equally Before this decision, unequal distributions of population enabled small groups of people in sparsely populated rural areas to have as much voting power as densely populated urban areas 2/5 Politics in the United States After Reynolds v Sims, districts were redrawn so that they would include equal numbers of voters Evidence suggests that legal ... BY Leonard Lovshin Department of Fisheries and Allied Aquacultures Auburn University, AL 36849 CHANNEL CATFISH CULTURE IN THE UNITED STATES Channel Catfish ( Ictalurus punctatus ) Native Range of Channel Catfish in the United States Food Habits Preferred Habitat Rivers Reservoirs and lakes MaximumWeight The world angling record is 26.4 kg caught in Santee Cooper reservoir, South Carolina Reproductive Live History 1. Sexual maturity is reached in 2 to 3 years in the southeastern U. S. 2. Spawning takes place in a cavity formed by rocks, logs or a hole in a lake or river bank. 3. Preferred spawning water temperatures: 21-29 C, with optimal temperature 24 to 26 C. Sexual behavior 1. Males defend a territory/cavity. 2. Female enters the cavity and spawns. 3. Males incubate eggs and defend fry. 4. Males can spawn with more than one female a season. Spawning cavity Catfish are grown in 4 to 10 ha earthen ponds with flat bottoms. Filtered surface water or rainfall Well water Catfish ponds are filled with either: [...]... Ponds are drained every 5 to 8 years Catfish are retained in a holding net overnight to eliminate small catfish Fish are crowded for loading onto the transport truck A crew of 5 can load 15,000 kg of fish in 1 hour Catfish are weighed onto trucks taking the fish to the processing factory Each basket holds 900 kg of fish scale Fish are checked for off-flavor 2 weeks, 1 day and upon arrival at the processor... stocked in fattening ponds during January to March Stocking density is 15,000 to 20,000/ha Catfish feed is purchased by the bag or delivered in bulk and stored in silos Floating pellets are distributed by a feed blower mounted on a truck Floating pellets corn wheat soybean Feed amount is controlled by an electronic scale located in the truck cab Catfish are fed what they will eat up to a maximum...Spawning in captivity: 1 Stock adults 3 to 8 years old 2 Stock 1 male to 2 females 3 Stock 800 kg of brooders/ha female male Spawning Containers Ammo cans Milk cans float Boxes in spawning pond Wooden box Spawning occurs during May and June in the Southeastern U S Spawning cans are checked every 2 to 3 days for spawns Hatching Shed Eggs are transported to a hatching shed Eggs are placed in 5-mm... hydraulic reel powered by a tractor Management systems used: 1 Monoharvest • All catfish are removed from the pond when they reach 0.5 to 1.0 kg, 6 to 12 months from stocking • Ponds are drained yearly 2 Multi-harvest • Only catfish larger than 0.5 kg are removed by partial seine harvest • Ponds are restocked yearly with small catfish Large and small catfish are in the pond Copyright © University of Michigan, 2006. All rights reserved. Chapter 3 What Does a Conversation Class Look Like? Questions to consider before reading this chapter: 1. Have you ever taught speaking? What was the context? (When? Where? To whom? Why?) 2. If you have taught speaking, was your teaching experience in #1 positive? Why or why not? Were you successful at teaching speaking? Can you think of specific examples of students whose speaking skills were better after taking your course? 3. Before you read the chapter, make a list of the top ten obstacles to teaching speaking “perfectly”. 4. With regarding to teaching speaking, can you think of problems related to the students’ ages? To their students’ countries or cultures of origin? Write down your thoughts before you read the chapter. 5. How would you deal with student errors in your speaking class? Can you imagine how different groups of students (older versus younger, male versus female, one culture versus another) might react to error correction? 7 Copyright © University of Michigan, 2006. All rights reserved. Web Cases Here are additional cases of teachers’ stories as they taught speaking or conversation in ESL/EFL classes around the world. Web Case #1 Teaching Public Speaking in the United States Graduate Students; University Agnieszka Sypniewska I currently teach advanced business English courses in the Master of Science in International Business program at Florida Atlantic University. The majority of our students are either immigrants or international students. For this reason, some of the courses are designed specifically for second language speakers to adapt their language proficiency to the business environment. I teach English for Academic Purposes (EAP), English for Business Purposes, and Business Communications Applications. The average class size is about 16. The students range in age between 25 and 40. Since Florida is near Latin America, approximately 90 percent of the students are Hispanic. The remaining 10 percent come mostly from Ukraine, Russia, Japan, China, and Nigeria. The Business Communications Applications course refines students’ written and spoken communications skills for both academic and business purposes. One of the major skills that this class concentrates on is giving presentations. Most of the international students are new to public speaking and, therefore, experience significant difficulties in this area. To help my students convey their ideas, I teach them how to organize their thoughts; how to support their arguments with detailed information; how to develop their message with appropriate choice of words; and how to enhance communication with appropriate use of body language, voice inflections, gestures, and facial expressions. A large part of the class consists of cultural training. In order for students to master public speaking skills, they need to understand American culture better, especially the corporate business environment and its basic requirements. For example, many of my students find the American business notion of being very direct and straightforward to be shocking. Two other problems have surfaced in teaching speaking to these students. One is teaching the students to be concise, to-the-point, and bottom-line oriented. The other problem is that many of my students have only a very vague idea of how to be persuasive and convincing. For the majority, the biggest challenge here is to use appropriate body language, facial expressions, and vocal variations to AH ISTORY OF M ONEY AND B ANKING IN THE U NITED S TATES : THE COLONIAL ERA TO WORLD WAR II The Ludwig von Mises Institute dedicates this volume to all of its generous donors and wishes to thank these Patrons, in particular: George W. Connell James L. Bailey, James Bailey Foundation; Robert Blumen; Christopher P. Condon; John William Galbraith; Hugh E. Ledbetter; Frederick L. Maier; Mr. and Mrs. R. Nelson Nash Richard Bleiberg; John Hamilton Bolstad; Mr. and Mrs. J.R. Bost; Mr. and Mrs. Willard Fischer; Douglas E. French; Albert L. Hillman, Jr.; L. Charles Hilton, Jr.; Mr. and Mrs. Truman Johnson; Neil Kaethler; Robert Kealiher; Dr. Preston W. Keith; David Kramer; Mr. and Mrs. William W. Massey, Jr.; Hall McAdams; Dr. Dorothy Donnelley Moller; Francis Powers, M.D.; Donald Mosby Rembert; James M. Rodney; Joseph P. Schirrick; James Whitaker, M.D. J. Terry Anderson, Anderson Chemical Company; Mr. and Mrs. Ross K. Anderson; Toby O. Baxendale; Robert Bero; Dr. V.S. Boddicker; Dr. John Brätland; John Cooke; Carl Creager; Capt. and Mrs. Maino des Granges; Clyde Evans, Evans Cabinet Corporation; Elton B. Fox, The Fox Foundation; James W. Frevert; Larry R. Gies; Frank W. Heemstra; Donald L. Ifland; Dr. and Mrs. John W. Johnson; Richard J. Kossmann, M.D.; Alfonso Landa; John Leger; Arthur L. Loeb; Ronald Mandle; Ellice McDonald, Jr., CBE, and Rosa Hayward McDonald, CBE; Norbert McLuckie; In honor of Mikaelah S. Medrano; Joseph Edward Paul Melville; Dr. and Mrs. Donald Miller; Reed W. Mower; Terence Murphree, United Steel Structures; James O’Neill; Victor Pankey; Catherine Dixon Roland; John Salvador; Conrad Schneiker; Mark M. Scott; Robert W. Smiley, Jr., Benefit Capital Companies; Jack DeBar Smith; Val L. Tennent; David W. Tice; Lawrence Van Someren, Sr.; Dr. Jim Walker; Mr. and Mrs. Quinten E. Ward; Dr. Thomas L. Wenck; Keith S. Wood; Steven Lee Yamshon; Jeannette Zummo [ [ [ AH ISTORY OF M ONEY AND B ANKING IN THE U NITED S TATES : THE COLONIAL ERA TO WORLD WAR II MURRAY N. ROTHBARD Cover art: Wall Street, 1886. Permission for use of this print is granted to the Ludwig von Mises Institute by Old World Prints, Ltd. Copyright © 2002 by the Ludwig von Mises Institute All rights reserved. Written permission must be secured from the publisher to use or reproduce any part of this book, except for brief quotations in crit- ical reviews or articles. For information, write the Ludwig von Mises Institute, 518 West Magnolia Avenue, Auburn, Alabama 36849-5301; www.mises.org. ISBN: 0-945466-33-1 CONTENTS Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Joseph T. Salerno P ART 1 The History of Money and Banking Before the Twentieth Century . . . . . . . . . . . . . . . . . . . . . . . 45 P ART 2 The Origins of the Federal Reserve . . . . . . . . . . . . . . . . . . . . . 179 P ART 3 From Hoover to Roosevelt: The Federal Reserve and the Financial Elites . . . . . . . . . . 259 P ART 4 The Gold-Exchange Standard in the Interwar Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347 P ART 5 The New Deal and the International Money System . . . . . . . . . . . . . . . . . . . . . . . . 431 Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 491 5 INTRODUCTION I n this volume, Murray Rothbard has given us a comprehen- sive history of money and banking in the United States, from colonial times to World War II, the first to explicitly use the interpretive framework of Austrian monetary theory. But even aside from the explicitly Austrian theoretical framework under- girding the March of Dimes Foundation Data Book for Policy Makers Maternal, Infant, and Child Health in the United States 2 0 1 0 ©2009 by the March of Dimes. Permission to copy, disseminate or otherwise use information from the Data Book for Policy Makers is granted as long as appropriate acknowledgment is given. Prepared by: Office of Government Affairs March of Dimes 1146 19th Street, NW, Sixth Floor Washington, DC 20036 Telephone (202) 659-1800 Fax (202) 296-2964 For additional copies: March of Dimes P.O. Box 932852 Atlanta, GA 31193-2852 Phone (800) 367-6630 marchofdimes.com Item number 50-2461-10 For additional copies: March of Dimes P.O. Box 932852 Atlanta, GA 31193-2852 Phone (800) 367-6630 marchofdimes.com Item number 50-2461-10 The March of Dimes Data Book for Policy Makers: Maternal, Infant, and Child Health in the United States 2010 provides national and state data highlighting infant mortality, birth defects, preterm and low birthweight births, health insurance coverage for women and children, and prevention strategies. This easy-to-use resource guide is aimed at public policy makers and others seeking quick facts at their fingertips. Readers interested in more detail and regular updates of many of the data presented in this book should visit PeriStats, the March of Dimes interactive data resource at marchofdimes.com/peristats. Except where noted, information in this Data Book is for the United States. Where possible, data for Puerto Rico are included. The March of Dimes Data Book for Policy Makers was produced by Colleen Sonosky, Kate Morrand, and Marina L. Weiss of the Office of Government Affairs. Rebecca Russell, Todd Dias, Hui Zheng, and Vani Bettegowda of the March of Dimes Perinatal Data Center prepared much of the data. Don Komai of Watermark Design and Chintan Parikh from Publishing Resources provided services to assist the March of Dimes with the production of the publication. The March of Dimes is a national voluntary health agency founded in 1938 by President Franklin D. Roosevelt to support research and services related to polio. Today, the Foundation works to improve the health of women, infants and children by preventing birth defects, premature birth and infant mortality through research, community services, education and advocacy. The March of Dimes is a unique partnership of scientists, clinicians, parents, members of the business community and other volunteers affiliated with chapters in all 50 states, the District of Columbia, and Puerto Rico. We trust this Data Book and other March of Dimes resources that can be found at www.marchofdimes. com (Spanish language site www. nacersano.org) will be helpful as we work together toward the day when every baby is born healthy. Dr. Bruce C. Vladeck, Chair National Public Affairs Committee March of Dimes Dr. Jennifer L. Howse, President March of Dimes About PeriStats PeriStats, the March of Dimes interactive web resource (marchofdimes. com/peristats) offers the latest data on maternal, infant, and child health at national, state, and local levels. Users – from the general public to policy makers, researchers, providers, and students – will find the site comprehen- sive and easy to use. Look for the PeriStats logo on pages throughout the Data Book for Policy Makers. It’s a signal that more detailed – and perhaps more current information is available on the website. Updated at least annually, PeriStats covers data for multiple years for topics like birth rates, ... vote” ruling is an excellent example of such action 3/5 Politics in the United States Section Quiz In the past, Southern states discouraged African Americans from voting by requiring them to take... signed the Voting Rights Act The 1960s saw other important reforms in U.S voting Shortly before the Voting Rights Act was passed, the 1964 U.S Supreme Court case Reynolds v Sims changed the nature... minorities are underrepresented in the U.S Congress White males still dominate both houses For example, there is only a single Native American legislator currently in Congress And until the inauguration