THE GRAND ILLUSION: THE COVERT FUNDING OF NAZI GERMANY(TM)S REARMAMENT PROGRAM, 1933 -1938

THE GRAND ILLUSION: THE COVERT FUNDING OF NAZI GERMANY'S REARMAMENT PROGRAM, 1933 -1938 SUBMITTED TO PROFESSOR MARC WEIDENMIER AND DEAN WILLIAM L. ASCHER BY NICOLE COLRAINE FOR SENIOR THESIS X190 Table of Contents ACKNOWLEDGEMENTS 3 I. INTRODUCTION 4 II. THE GRAND ILLUSION 13 III. FINANCING THE IMPOSSIBLE 17 TABLE 1 - DISTRIBUTION OF NATIONAL INCOME 19 TABLE 2 - GERMAN ECONOMIC ACTIVITY, 1933 - 1939 21 TABLE 3- INDUSTRIAL OUTPUT OF CAPITAL AND CONSUMER GOODS 22 TABLE 4 - FLOTATION OF ARMAMENT AND WORK-CREATION BILLS BY FISCAL YEAR (MIL. RM) 25 TABLE 5 - BILL PORTFOLIOS OF GERMAN BANKS 1928-1939 (MIL. RM) 29 TABLE 6- FINANCIAL INDUSTRY: MEFO VS. NON-MEFO ANNUAL STOCK RETURNS 30 IV. THE WIZARDS OF FARBEN: 32 TABLE 7 - I.G FARBENINDUSTIE DOMESTIC SUBSIDIARIES 33 TABLE 8 - INDUSTRIAL CHEMICAL INDUSTRY: MEFO VS. NON-MEFO ANNUAL STOCK RETURNS 36 V. DOUBLE, DOUBLE TOIL 36 TABLE 9.1 - REGIONAL COAL PRODUCTION & LABOR FORCE PRODUCTIVITY AND RUHR COAL OUTPUT 37 TABLE 9.2 - LABOR FORCE PRODUCTIVITY AND RUHR COAL OUTPUT 37 TABLE 10 - COAL INDUSTRY: MEFO VS. NON-MEFO ANNUAL STOCK RETURNS 39 TABLE 11 - CAPITAL GOODS: GERMAN INDUSTRIAL PRODUCTION 1929, 1932, 1938 40 TABLE 12 -ANNUAL ELECTRIC POWER GENERATED FROM COAL, 1932 -1938 41 VII. THE MARITAL DIAMOND 41 TABLE 13 - AMERICAN AND GERMAN TUNGSTEN PRICES 44 TABLE 14 - STEEL INDUSTRY: MEFO VS. NON-MEFO

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  • Level: University Degree
  • Subject: Business and Administrative studies
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FDI and MNC Create More Multiplier Effect to The Host Economy As Compared To The Home Economy

ECONOMIC ENVIRONMENT FOR BUSINESS Project Topic: (FDI and MNC Create More Multiplier Effect to The Host Economy As Compared To The Home Economy) Submitted To Prof. Pankaj Upadhya Section- F8 Group members:- AKASH NANGIA ANTERPREET SINGH SAHNI MEDHA AHLUWALIA TUSHAR TANDON ACKNOWLEDGEMENT We thank Mr. Pankaj Upadhya in particular for assigning us this topic and encouraging us to write in the first place. We owe much to Mr. Pankaj Upadhya for his helpful comments. We are indebted to all those who have been helpful throughout the process of writing this Report- Mr. Pankaj Upadhya but as the cliché goes, we are solely responsible for any remaining errors of fact or judgment. CONTENT ABSTRACT..................................................................................... WHAT DOES MULTIPLIER EFFECT MEANS?............................................... FOREIGN DIRECT INVESTMENT................................................... TYPES OF FDI............................................................................. OUTWARD FDI FACES RESTRICTIONS UNDER HOST ECONOMY....... FDI AMONG COUNTRIES................................................................ BENEFITS OF FDI IN HOST COUNTRY.......................................... FDI AND ECONOMIC DEVELOPMENT.......................................... FDI AND INFRASTRUCTURAL

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Should the Uk Join EMU

SHOULD THE UK JOIN EMU? Introduction Many on the continent relish the opportunity of pooling the power of Europe in order to stand up to the US who has for so long used its weight to secure its position as the only superpower. Some in Europe fear that left as individual nations, Germany would emerge by far the strongest in Europe and would eventually dominate the continent. These feelings are behind the creation of the EU and the Euro. This report is split into 4 chapters. The first chapter deals with the supposed benefits of a single currency in Europe. Chapter two is a critical analysis of Robert Mundell's theory of Optimum Currency Areas. This is the most widely accepted theory on how to test the viability of a currency area. In chapter 3 we take a closer look at the UK, specifically the five tests that Gordon Brown 'insists' must be met before the UK can join EMU. Finally we take a look at some other factors that may affect whether or not the UK should join EMU. CHAPTER 1 The Benefits of EMU According to the European Commission there are four main benefits of a single currency. : Cost savings on cross-border transactions 2: Increased price transparency, which benefits the consumer. 3: More stable prices due to the anti-inflationary ECB 4: Elimination of exchange rate instability and uncertainty within EMU is only really significant for Northern Ireland

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  • Level: University Degree
  • Subject: Business and Administrative studies
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The Impact of Domestic Policies on UK Investments & Exports During the Financial Crisis (1970 - 2011)

The Impact of Domestic Policies on UK Investments & Exports During the Financial Crisis (1970-2011) How Did Corporation Tax, Bank Rate & Value Added Tax Revisions Impact Inflation? How Did the Resulting Inflation Impact UK Exports & Investments Vis a Vis Economic Growth in the UK? W12313055 Word Count: 2,994 (Excluding Tables & Appendices) Abstract ________________ This report examines the impact of the following policy reforms on the aggregate economy in the United Kingdom, during the financial crisis: A reduction in corporation tax (2008), a reduction in the bank rate (2009) and an increase in value added tax (2011). Firstly, an overview of historic economic events affecting the UK economy during 1970 to 2011 is given. It is found that oil ‘shocks’ during the 1970s were a major impact on the UK economy, with inflation at its highest and GDP growth at its lowest. During early stages of the 1990s, an end to the British membership of the exchange rate mechanism caused high interest rates, falling house prices and an overvalued exchange rate, therefore, leading the UK into a recession. Following this event, the 2008 financial crisis triggered by the global ‘credit crunch’ plunged the UK back into a deep recession, with poor economic growth, high inflation and high unemployment. The resulting inflation caused by the crisis is then discussed in depth, examining

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Economic and Monetary Union.

ECONOMIC AND MONETARY UNION For many, the launch of euro bank notes and coins in 2002 will symbolise the greatest achievement in post war European integration since the Treaty of Rome. For others it represents a premature step on the road to closer co-operation. This analysis will approach the contentious issue of Economic and Monetary Union by drawing upon two related themes: adjustment and co-ordination. The first will be situated within the debate surrounding the pros and cons of EMU participation. The second will consider the actual operation of EMU and the policy architecture, which governs its behaviour. The investigation will conclude with a brief introduction to the debate surrounding the UK's involvement with Economic and Monetary Union. But first there will be a short consideration of the political issues relating to EMU. THE POLITICS ECONOMY OF EMU As is usual in the case of the EU it can be argued that EMU is an economic means to a political end, increasing political integration. EMU had its political roots in the problems of the EMS, principally that for a stable system other Member States had to adjust their economic policy to conform to Bundesbank monetary policy. It came to be seen that a share of pooled sovereignty over monetary policy, was better than a largely illusory national sovereignty. This was particularly the case since increasingly

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  • Level: University Degree
  • Subject: Business and Administrative studies
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The Global Economic Crisis. The present project analyses different approaches of the crisis management in some of the most affected industries and countries. Moreover, the strategies used by some big companies and the measures some governments took durin

ACADEMIA DE STUDII ECONOMICE DIN BUCUESTI FACULTATEA DE ADMINISTRAREA AFACERILOR IN ENGLEZA SESIUNEA DE COMUNICARI STIINTIFICE The Economic Crisis "The perfect storm" which creates "an opportunity riding the dangerous wind" COORDONATOR, Prof. Dr. Marta Christina Suciu Nicoleta Rosu Andreea Pirvu Magda Ungureanu Aurelia Scarlat Ana Maria Tudose Alexandra Prunel Ecaterina Mustea Adrian Salcu Bucuresti PRESENTATION OF THE TEAM "We like having fun, but when it comes to work we try to do our best."1 ANDREEA PIRVU, 19 years old "I chose the introductory part of the project because I wanted to conduct a comparative research of the economic crisis, in order to find proper lessons that could be learned from the past." MAGDA UNGUREANU, 19 years old "I wanted to find out more about the root causes of the economic crisis and that was what inspired me to contribute to the introductory part." ADRIAN SALCU, 19 years old "I chose the case study about Greece because I was extremely impressed by their poor crisis management and I was also curious how they got in such a mess." ALEXANDRA PRUNEL, 19 years old "The reason why I decided to write about China was that I consider it to be a very good example for their way of handling the global recession." NICOLETA ROSU, 19 years old "I chose Groupon as my case study for I consider it a successful entrepreneurial model

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Last budget delivered by the Minister of Finance for South-Africa - 2004.

Economics Course Code: MBL 916-Q Due date: 21 June 04 Group Assignment 1 CEN404A Index . Budget highlights 1.1 On the economy 1.2 Tax Proposals 1.3 Main spending changes 2. Introduction to the budget 2.1 Budget environment 2.2 Economic objectives 2.3 Global Trends 2.4 Balance of payments 2.5 Economic growth in developing countries 3. Government Policies 3.1 Fiscal Policy 3.1.1 Nature and goals of fiscal policy 3.1.2 Instruments of fiscal policy 3.1.3 Fiscal policy trends 3.1.4 Effectiveness of fiscal policy 3.2 Monetary Policy 3.2.1 Monetary Concerns 3.2.2 Money Supply 3.2.3 Measuring Monetary Policy 4. Public debt and the budget deficit 4.1 The concept of public debt and deficits 4.2 Size and composition of the debt 5. Gross Domestic Product 6. Government challenges 6.1.1 Unemployment 6.1.2 Development and poverty upliftment 6.1.3 HIV 7. Conclusion Last budget delivered by the Minister of Finance for South-Africa - 2004 . Budget highlights for 2004 .1 On the economy * GDP growth was a disappointing 1,9 per cent in 2003, but is expected to strengthen to 2,9 per cent this year, rising to 3,6 per cent and 4,0 per cent in 2005 and 2006 respectively. * Consumer price inflation continued to decline during 2003, in part because further appreciation of the rand contributed to declining prices of imported goods. CPIX inflation is

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  • Level: University Degree
  • Subject: Business and Administrative studies
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The purpose of this coursework is to study the characteristics of inflation in the Russian economy

Finance University under the Government of the Russian Federation International Finance Faculty Department “Macroeconomics and Macroeconomic Regulation” Laboratory work on Macroeconomics on the topic: “The problem of inflation in Russia and anti-inflation macroeconomic policy” Made by student(s) of group IFF 2-2 Kirill Lazutin Tutor: associate professor, candidate of science in economics Kadysheva O.V. Moscow 2012 Content Introduction…………………………………………………………………… 2 Chapter 1. Theoretical aspects of inflation and its implications……………… 3 .1 Inflation as a form of macroeconomic instability………………………… 3 .2 Types of inflation…………………………………………………………. 6 .3 Socio-economic effects of inflation………………………………………. 8 Chapter 2. Features inflation RF and anti-inflation policy of the State……… 12 2.1 Problems of holding inflation in Russia…………………………...……... 14 2.2 Analysis of the rate of inflation for 2010-2011…………………………... 16 2.3 Anti-inflation policy of the state in 2011………………………………… 24 2.3 The inflation outlook for 2012…………………………………………… 31

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Business Cycles: Meaning and Nature

BUSINESS CYCLES AND MACROECONOMIC POLICY INITIATIVES BUSINESS CYCLE Today we are faced with higher unemployment levels, deflation in farm prices, disinflation in industrial prices, and inflation almost everywhere else. These are cycles in all spheres of human endeavor, from stocks and bonds to commodities and political preferences and are generally known as business or trade cycles. In this chapter, we discuss: Meaning of business or trade cycles Types of cycles Various phases of cycles Three important theories on business cycle Various remedial measures to rectify economic imbalances caused by these trade/business cycles Various business indicators and their practical applications in: Forecasting recession Buying and selling of stocks MEANING Business cycle or trade cycle is a part of the capitalist system. It refers to the phenomenon of cyclical booms and depressions. Most acceptable definition is that given by Mitchell, "Business cycles are a type of fluctuations found in the aggregate economic activity of nations that organise their work mainly in business enterprises. A cycle consists of expansions occurring at about the same time in many economic activities followed by similarly general recessions, contractions, and revivals which merge into the expansion phase of the next cycle; this sequence of changes is recurrent but not periodic....". An important

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  • Level: University Degree
  • Subject: Business and Administrative studies
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Financial Crisis in Iceland

Course: MSc Finance and Investment Module: ECM04 - Economics of Capital Markets Date Due in: 2nd March 2009 Number of pages: 19 Word count: 4,261 Financial Crisis in Iceland Background, Causes, Consequences and Future Prospects Students: Jóhann Þórhallsson, Magnús Helgason & Sigurbjörg Ýr Guðmundsdóttir Lecturer: Jens Holscher & Khaled Soufani Table of Contents Introduction 3 Background & Causes 4 European Economic Area 4 Free Capital Transfer and Privatization of the Banks 4 Speculation Capitalism in Iceland 5 Free Market Capitalism 6 The Central Bank 7 Consequences 9 Model of Financial Crisis - Iceland Comparison 11 Conclusion 14 References 15 Appendix A 17 Appendix B 18 Introduction This assignment is part of ECM04 Economics of Capital Markets module on phase 2 in MSc. Finance and Investment at University of Brighton 2008-2009. The assignment is to analyze the Icelandic financial crisis which eventually led to the collapse of the Icelandic banking system and the economy as a whole. In order to analyse the Icelandic financial crisis we will begin to look at the background and what we regard as the causes, look at the consequences and future prospects. In the end we compare the Icelandic financial crisis to a model which Kindleberger covers in his book Manias, Panics and Crashes. Kindleberger (1978) describes financial crisis in the

  • Word count: 5738
  • Level: University Degree
  • Subject: Business and Administrative studies
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