London
London's largest industry is finance, and its financial exports make it a large contributor to the UK's balance of payments. Around 325,000 people were employed in financial services in London until mid-2007. London has over 480 overseas banks, more than any other city in the world. Over 85 percent (3.2 million) of the employed population of greater London works in the services industries. Because of its prominent global role, London's economy had been affected by the Late-2000s financial crisis. However, by 2010 the City has recovered; put in place new regulatory powers, proceeded to regain lost ground and re-established London's economic dominance. The City of London is home to the Bank of England, London Stock Exchange, and Lloyd's of London insurance market.
Glass
Glass was used extensively during the Middle Ages. Anglo-Saxon glass has been found across England during archaeological excavations of both settlement and cemetery sites. Glass in the Anglo-Saxon period was used in the manufacture of a range of objects including vessels, beads, windows and was also used in jewelry. From the 10th-century onwards, glass was employed in stained glass windows of churches and cathedrals, with famous examples at Chartres Cathedral and the Basilica of Saint Denis. By the 14th-century, architects were designing buildings with walls of stained glass such as Sainte-Chapelle, Paris, (1203–1248) and the East end of Gloucester Cathedral. Stained glass had a major revival with Gothic Revival architecture in the 19th-century. With the Renaissance, and a change in architectural style, the use of large stained glass windows became less prevalent. The use of domestic stained glass increased until most substantial houses had glass windows. These were initially small panes leaded together, but with the changes in technology, glass could be manufactured relatively cheaply in increasingly larger sheets. This led to larger window panes, and, in the 20th-century, to much larger windows in ordinary domestic and commercial buildings.
Child labour
In the early 20th century, thousands of boys were employed in glass making industries. Glass making was a dangerous and tough job especially without the current technologies. The process of making glass includes intense heat to melt glass (3133 °F). When the boys are at work, they are exposed to this heat. This could cause eye trouble, lung ailments, heat exhaustion, cut, and burns. Since workers were paid by the piece, they had to work productively for hours without a break. Since furnaces had to be constantly burning, there were night shifts from 5:00 pm to 3:00 am. Many factory owners preferred boys under 16 years of age.
Economic inequality
Studies on income inequality and growth have sometimes found evidence confirming the Kuznets curve hypothesis, which states that with economic development, inequality first increases, then decreases. Economist Thomas Piketty challenges this notion, claiming that from 1914 to 1945 wars and "violent economic and political shocks" reduced inequality. Moreover, Piketty argues that the "magical" Kuznets curve hypothesis, with its emphasis on the balancing of economic growth in the long run, cannot account for the significant increase in economic inequality throughout the developed world since the 1970s.
Economic liberalisation in India
The economic liberalisation in India refers to the economic liberalisation, initiated in 1991, of the country's economic policies, with the goal of making the economy more market and service - oriented and expanding the role of private and foreign investment. Specific changes include a reduction in import tariffs, deregulation of markets, reduction of taxes, and greater foreign investment. Liberalisation has been credited by its proponents for the high economic growth recorded by the country in the 1990s and 2000s. Its opponents have blamed it for increased poverty, inequality and economic degradation. The overall direction of liberalisation has since remained the same, irrespective of the ruling party, although no party has yet solved a variety of politically difficult issues, such as liberalising labour laws and reducing agricultural subsidies. There exists a lively debate in India as to what made the economic reforms sustainable.
Valencia
Valencia enjoyed strong economic growth over the last decade, much of it spurred by tourism and the construction industry,[citation needed] with concurrent development and expansion of telecommunications and transport. The city's economy is service-oriented, as nearly 84% of the working population is employed in service sector occupations[citation needed]. However, the city still maintains an important industrial base, with 5.5% of the population employed in this sector. Agricultural activities are still carried on in the municipality, even though of relatively minor importance with only 1.9% of the working population and 3973 hectares planted mostly in orchards and citrus groves.
Botswana
Since independence, Botswana has had one of the fastest growth rates in per capita income in the world. Botswana has transformed itself from one of the poorest countries in the world to an upper middle-income country. Although Botswana was resource-abundant, a good institutional framework allowed the country to reinvest resource-income in order to generate stable future income. By one estimate, it has the fourth highest gross national income at purchasing power parity in Africa, giving it a standard of living around that of Mexico.The Ministry of Trade and Industry of Botswana is responsible for promoting business development throughout the country. According to the International Monetary Fund, economic growth averaged over 9% per year from 1966 to 1999. Botswana has a high level of economic freedom compared to other African countries. The government has maintained a sound fiscal policy, despite consecutive budget deficits in 2002 and 2003, and a negligible level of foreign debt. It earned the highest sovereign credit rating in Africa and has stockpiled foreign exchange reserves (over $7 billion in 2005/2006) amounting to almost two and a half years of current imports.
Glass
In the 20th century, new types of glass such as laminated glass, reinforced glass and glass bricks have increased the use of glass as a building material and resulted in new applications of glass. Multi-storey buildings are frequently constructed with curtain walls made almost entirely of glass. Similarly, laminated glass has been widely applied to vehicles for windscreens. While glass containers have always been used for storage and are valued for their hygienic properties, glass has been utilized increasingly in industry. Optical glass for spectacles has been used since the late Middle Ages. The production of lenses has become increasingly proficient, aiding astronomers as well as having other application in medicine and science. Glass is also employed as the aperture cover in many solar energy systems.
Glass Beach (Eleele, Hawaii)
Glass Beach is a beach in Eleele, an industrial area in Kauai, Hawaii that is made of sea glass. It is in Hanapepe Bay, near Port Allen Harbor. The beach's regular rock is basalt, but the sea glass formed after years of discarded glass.
Melbourne
Since the mid-1990s, Melbourne has maintained significant population and employment growth. There has been substantial international investment in the city's industries and property market. Major inner-city urban renewal has occurred in areas such as Southbank, Port Melbourne, Melbourne Docklands and more recently, South Wharf. According to the Australian Bureau of Statistics, Melbourne sustained the highest population increase and economic growth rate of any Australian capital city in the three years ended June 2004. These factors have led to population growth and further suburban expansion through the 2000s.
Glass Geishas
Glass Geishas is a 2012 thriller novel by English author Susanna Quinn and was released on 1 June 2012 by Hodder & Stoughton. The book primarily focuses on a young English girl that becomes part of the Japanese hostess and sex industry. Of the novel, Quinn stated that she used her experiences as a hostess in Japan as inspiration for the book.
Armenia
Nevertheless, the government was able to make wide-ranging economic reforms that paid off in dramatically lower inflation and steady growth. The 1994 cease-fire in the Nagorno-Karabakh conflict has also helped the economy. Armenia has had strong economic growth since 1995, building on the turnaround that began the previous year, and inflation has been negligible for the past several years. New sectors, such as precious-stone processing and jewellery making, information and communication technology, and even tourism are beginning to supplement more traditional sectors of the economy, such as agriculture.
Economy of Greece
World War II (1939-1945) devastated the country's economy, but the high levels of economic growth that followed from 1950 to 1980 have been called the Greek economic miracle. From 2000 Greece saw high levels of GDP growth above the Eurozone average, peaking at 5.8% in 2003 and 5.7% in 2006. The subsequent Great Recession and Greek government-debt crisis, a central focus of the wider European debt crisis, plunged the economy into a sharp downturn, with real GDP growth rates of −0.3% in 2008, −4.3% in 2009, −5.5% in 2010, −9.1% in 2011, −7.3% in 2012 and −3.2% in 2013. In 2011, the country's public debt reached €356 billion (172% of nominal GDP). After negotiating the biggest debt restructuring in history with the private sector, Greece reduced its sovereign debt burden to €280 billion (137% of GDP) in the first quarter of 2012. Greece achieved a real GDP growth rate of 0.7% in 2014 after 6 years of economic decline, but fell back into recession in 2015.
Economic inequality
Some theories developed in the 1970s established possible avenues through which inequality may have a positive effect on economic development. According to a 1955 review, savings by the wealthy, if these increase with inequality, were thought to offset reduced consumer demand. A 2013 report on Nigeria suggests that growth has risen with increased income inequality. Some theories popular from the 1950s to 2011 incorrectly stated that inequality had a positive effect on economic development. Analyses based on comparing yearly equality figures to yearly growth rates were misleading because it takes several years for effects to manifest as changes to economic growth. IMF economists found a strong association between lower levels of inequality in developing countries and sustained periods of economic growth. Developing countries with high inequality have "succeeded in initiating growth at high rates for a few years" but "longer growth spells are robustly associated with more equality in the income distribution."
Estonia
Because of the global economic recession that began in 2007, the GDP of Estonia decreased by 1.4% in the 2nd quarter of 2008, over 3% in the 3rd quarter of 2008, and over 9% in the 4th quarter of 2008. The Estonian government made a supplementary negative budget, which was passed by Riigikogu. The revenue of the budget was decreased for 2008 by EEK 6.1 billion and the expenditure by EEK 3.2 billion. In 2010, the economic situation stabilized and started a growth based on strong exports. In the fourth quarter of 2010, Estonian industrial output increased by 23% compared to the year before. The country has been experiencing economic growth ever since.
Dammam
To encourage the growth of non-oil industries, an industrial city was established in the open space between the three cities. Now home to more than 124 factories, the industrial complex is completely engulfed by an urban mass. As a result, a second industrial city was established further away from the Dammam Area along the highway to Riyadh. Located on nearly 6,000 acres (24 km2) of land, the Second Industrial City is already home to 120 factories, with 160 others under construction. These plants manufacture a variety of consumer and industrial products that are marketed throughout the Kingdom and are exported to other countries around the world. Handling such exports, as well as imports from abroad, is the domain of shipping agents and commercial companies located in Dammam and Al-Khobar, making the Dammam Area not only a major oil producing and exporting area, but also a commercial and shipping center.
Great power
Over time, the relative power of these five nations fluctuated, which by the dawn of the 20th century had served to create an entirely different balance of power. Some, such as the United Kingdom and Prussia (as the founder of the newly formed German state), experienced continued economic growth and political power. Others, such as Russia and Austria-Hungary, stagnated. At the same time, other states were emerging and expanding in power, largely through the process of industrialization. These countries seeking to attain great power status were: Italy after the Risorgimento, Japan after the Meiji Restoration, and the United States after its civil war. By the dawn of the 20th century, the balance of world power had changed substantially since the Congress of Vienna. The Eight-Nation Alliance was a belligerent alliance of eight nations against the Boxer Rebellion in China. It formed in 1900 and consisted of the five Congress powers plus Italy, Japan, and the United States, representing the great powers at the beginning of 20th century.
Economic inequality
While acknowledging the central role economic growth can potentially play in human development, poverty reduction and the achievement of the Millennium Development Goals, it is becoming widely understood amongst the development community that special efforts must be made to ensure poorer sections of society are able to participate in economic growth. The effect of economic growth on poverty reduction – the growth elasticity of poverty – can depend on the existing level of inequality. For instance, with low inequality a country with a growth rate of 2% per head and 40% of its population living in poverty, can halve poverty in ten years, but a country with high inequality would take nearly 60 years to achieve the same reduction. In the words of the Secretary General of the United Nations Ban Ki-Moon: "While economic growth is necessary, it is not sufficient for progress on reducing poverty."
Glass
Glass remained a luxury material, and the disasters that overtook Late Bronze Age civilizations seem to have brought glass-making to a halt. Indigenous development of glass technology in South Asia may have begun in 1730 BCE. In ancient China, though, glassmaking seems to have a late start, compared to ceramics and metal work. The term glass developed in the late Roman Empire. It was in the Roman glassmaking center at Trier, now in modern Germany, that the late-Latin term glesum originated, probably from a Germanic word for a transparent, lustrous substance. Glass objects have been recovered across the Roman empire in domestic, industrial and funerary contexts.[citation needed]
Economic inequality
Research by Harvard economist Robert Barro, found that there is "little overall relation between income inequality and rates of growth and investment". According to work by Barro in 1999 and 2000, high levels of inequality reduce growth in relatively poor countries but encourage growth in richer countries. A study of Swedish counties between 1960 and 2000 found a positive impact of inequality on growth with lead times of five years or less, but no correlation after ten years. Studies of larger data sets have found no correlations for any fixed lead time, and a negative impact on the duration of growth.
What countries found their economic growth in the period young boys were employed in the glass making industries?
When were young boys employed in the glass making industries?
early 20th century
What countries found their economic growth in #1 ?
United Kingdom and Prussia