According to what professor mentioned a lot of time in class, French economic from the history was a territory of Ancient Rome and enjoyed trade with other parts of the Roman Empire. The economy of French is the second largest in Europe. Moreover, French only focuses on Agriculture, industrial, and service activities which are the most popular and iconic tourist destination in the world.Moreover, the gross domestic product, or GDP, is the total value of a nation’s economic output. The state Department also noted that France has an active presence in international trade and is the second largest trading nation in Europe, after Germany. The 19th century was a terrible time for the French economy, Such as short a short time of republic.
This slightly develops the economic production. Furthermore, the cost in lives would take a selection of the French workforce out of their farms and factories and onto arena from which many would never return. After Napoleon’s defeat in 1815, French began another recovery period. By the middle of the 19th century, Paris becomes a large European banking center, second only to London.
Moreover, an ambitious expansion of roads and railways further stimulated the economy and supported the urbanization of the burgeoning industrial nation. Education also becomes a primary focus of the government. Following the hardships of World War II, Differently policies of interventionist and free-market policies can be built on industry and technology. but not without protection for the workers.
French anew its welfare system and began the process of slowly rebuilding. On other hands, saddled with enormous debts, the average French citizen continued to view the economic to view the economy as fragile through much of the 20th century. Current Economic Situation, for the first few years of the 21st century, wealth per adult grew at an exceptional rate, tripling in value between 1995 and 2007. When the global recession occurred, France’s economy entered later and corporators earlier than most comparable economies, with just four quarters of contraction. More importantly, following recovery, France’s GDP has been a bit of a roller coaster. Slidely increased strongly in the first quarter of 2011 to nine percent. Unfortunately, shark in the second quarter by 0.1 percent and remained stagnant in 2012 also increased in 2013.
Revolutions sway Europe during the 19th century. The liberty and equality first became a revolution. The profound effect had become the second revolution but has made a point more on the economic results. An industrialized country of France faced limitation in its path. It did not have the resources needed in order to pursue industrialization.
Also did not have large quantities of coal and iron in order to start an industrialized economy. In 1830, The Sewing machine that makes chain stitches has been invented by Barthelemy Thimonnier. It made cloth making faster. His innovation then got the attention of the French Army that contracted Thimonnier to build a factory for army uniforms with 80 of his machines. The town of Mulhouse in the province of Alsace rose to prominence for its amazing dyes that brought many designers to it. In addition, from the foundation, Mulhouse diversifies into the developing heavy industry of the region and the maker of machines had become prominent.
From the following the rise of martial production, dyes also grew. On other hands, according to Adam Smith, three main boosters are import-export, investment, and cooperation. Firstly, import-export subsidies paid to producers for their productions, usually for export. The import subsidies that Smith treated were sum paid directly to exporters, whereas those of the Export-Import Bank mostly take the form of subsidized credit. But the form does not much affect most of Smith’s analysis of export subsidization.
On other hands, according to Adam Smith, three main boosters are import-export, investment, and cooperation. Firstly, import-export subsidies paid to producers for their productions, usually for export. The import subsidies that Smith treated were sum paid directly to exporters, whereas those of the Export-Import Bank mostly take the form of subsidized credit.
But the form does not much affect most of Smith’s analysis of export subsidization. Secondly, investments are made because the capitalist want to earn profits on them. When a country develops and its capital stock expands, the rate of profit declines. The increasing competition among capitalists raises wages and tends to lower profits. Adam Smith said. This mean that all the businessman or businesswoman want to gain more economic growth.
Thirdly, Adam Smith said cooperation not competition which is mean that in every business need to have the corporates in order to success in the business, this cooperation in repeated transactions plus the willingness to punish defaulters that actually makes markets work.