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What impact did the economic crisis of 1974-1975 have on the development of Western civilization? Detailed answer
Directory / Big encyclopedia. Questions for quiz and self-education Did you know? What impact did the economic crisis of 1974-1975 have on the development of Western civilization? Among the post-war economic upheavals, a special place belongs to the crisis of 1974-75. It covered almost all developed countries of the West and Japan. The crisis led to the stagnation of the traditional sectors of the economy of these countries, to disruptions in the credit and financial sphere, and to a sharp drop in growth rates. The use of anti-crisis measures based on neo-Keynesian recipes, which included an increase in government spending, tax cuts, and cheaper loans, only increased inflation. The use of reverse measures (cutting government spending, tightening tax and credit policies) led to a deepening recession and rising unemployment. The peculiarity of the situation was that neither one nor the other system of anti-crisis measures led to overcoming the economic shock. The new conditions required fresh conceptual solutions concerning the development of methods adequate to the needs of the day for regulating socio-economic processes. The former Keynesian method of solving these problems has ceased to suit the ruling elite of the leading Western countries. Criticism of Keynesianism in the mid-1970s became frontal. A new conservative concept of economic regulation was gradually taking shape, the most prominent representatives of which at the political level were Margaret Thatcher, who headed the British government in 1979, and Ronald Reagan, who was elected in 1980 to the post of US President. In the field of economic policy, the neoconservatives were inspired by the ideologists of the free market (M. Friedman) and supporters of the "supply theory" (A. Laffer). The most important difference between the new political economy recipes and Keynesianism was a different direction of government spending. The bet was made on reducing government spending on social policy. Tax cuts were also carried out in order to intensify the inflow of investments into production. If neo-Keysianism proceeded from the stimulation of demand as a prerequisite for the growth of production, then the neoconservatives, on the contrary, headed for stimulating the factors that ensure the growth of the supply of goods. Hence their formula: it is not demand that determines supply, but supply that determines demand. In the field of monetary policy, the neo-conservative course relied on the monetarist recipes for a tough policy of controlling money circulation in order to limit, above all, inflation. Proponents of neoconservatism also defined the relationship between state regulation and the market mechanism in a different way. They gave priority to competition, the market, and private monopoly methods of regulation. "The state for the market" - that was the most important principle of the new conservatism. According to the recommendations of the ideologues of neoconservatism in the states of Western Europe and the USA, Canada carried out the same type of measures: reducing taxes on corporations with an increase in indirect taxes, reducing the contributions of entrepreneurs to social insurance funds, curtailing a number of social policy programs, denationalizing or privatizing state property. Economic turmoil in the 1970s took place against the backdrop of a growing scientific and technological revolution. The main content of the new phase of its development was the massive introduction of computers in the spheres of production and management. This gave impetus to the beginning of the process of structural restructuring of the economy and the gradual transition of Western civilization into a new phase, which began to be called the post-industrial, or information, society. The introduction of the latest technologies has contributed to a significant leap in productivity. And this began to pay off and led to a way out of the crisis and another economic recovery. True, the main costs of structural restructuring of the economy fell on the bulk of the population of Western countries, but this did not lead to social cataclysms. The ruling elites managed to maintain control over the situation and give a new impetus to economic processes. Gradually, the "conservative wave" began to decline. But this did not mean a change of milestones in the development of Western civilization. Author: Irina Tkachenko
What is a medicine? Many people think that a drug is a substance taken to relieve pain or as a sleep aid. The composition of this or that medicine includes, as a rule, many different substances. The preparation of medicines and healing with their help has been known since ancient times. The ancient priests, who had the right to heal, prepared their potions from plants. The ancient Greeks also used plants for the preparation of medicines already a thousand years ago. To this day, most medicines are made from plants. Morphine and opium are prepared from poppy juice. Cocaine is used as an anesthetic during operations and is prepared from the coca plant. Quinine is obtained from the bark of the cinchona tree. Castor oil is obtained from castor seeds. A large number of the medicines we use are obtained from minerals - for example, salts, bromides, phosphorus. Did you know that animal organs can also produce useful medicinal substances for humans? These include the thyroid gland, adrenal glands, pancreas. Another group of drugs are vaccines, toxins and antitoxins. The vaccine contains dead or weakened pathogens. When placed in the body, they create antibodies that enter the bloodstream and protect against the disease itself. Toxins work in the same way, but they contain inactive poisons produced by disease-causing microbes. Antitoxins contain a large amount of antibodies, which, when introduced into the body, increases its resistance to infection. With the development of science, man was able to obtain artificial medicines. They are not created by plants or animals, but in laboratories through chemical research. Now the number of artificial drugs is becoming more and more, and their production is becoming cheaper. Probably, everyone is well aware of such an artificial medicine as aspirin. More recently, science has discovered another medicine - antibiotics. These chemicals are derived from molds. Antibiotics have the ability to stop the growth of many pathogenic bacteria. The two best known antibiotics are penicillin and streptomycin.
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