Aaron Woods
ECON 2101W
May 20th, 2018
Sweden Economy
Economically speaking Sweden is a very advanced country. Sweden has some of the lowest levels of national debt in the European Union in modern times. That hasn’t always been the case though and sweden has made many strong moves to get to the place they are now. Thought a balanced budget, a dynamic economy, and an ... , sweden has become as well known economically as they are today.
With many changes to its regulation sweden started to change the direction of its economic governance for the better. Scott Sutherland, an economics researcher in Sweden, states “First, in 1996 a ceiling for government expenditures (utgiftstak) was introduced. This was accompanied by the addition of the ‘surplus goal’ (överskottsmålet) for the government budget. These reforms have met with broad support from across the political spectrum in Sweden. They help ensure that high debt doesn’t accumulate and that debt isn’t passed on to future generations” (Sweden Business). The elimination of high debt that spawn across generation was very important for the economy of Sweden which allowed it to get its economic status.
Today, Sweden has a highly diverse and competitive economy. A big reason for this is because of its openness towards trade and for being a more export driven country. These reasons are the reasons why i was very interested in sweden's economy. Mainly because of its advancements which drastically decreased debt and how it became so economically sound while being a export centered nation.
Aaron Woods
June 10th, 2018
Economic growth
Rome's Economy
Whenever the topic of ancient civilizations comes up Rome is one of the first to come to mind because of movies such a Gladiator and The Eagle but no one ever brings up how impressive Rome’s economy was for its time. The United Nations of Roma Victrix, a website that represents the all encompassing power of Rome in the ancient world, explain that “Ancient Rome was an agrarian and slave based economy whose main concern was feeding the vast number of citizens and legionaries who populated the Mediterranean region. Agriculture and trade dominated Roman economic fortunes, only supplemented by small scale industrial production.” Trade, infrastructure, and imports were the keys to Rome’s powerful economy.
Rome's economy was based on agriculture which was a very labor intensive. With many wars going on in foreign lands landowners would have to leave their crops to fight for their country in the military, leaving their farms at risk of going bankrupt. Roman’s with a lot of money decided to buy their land and make additions on it, These were called Latifundia. Rome expanded its economic prowess by taking over nearby empires to allow for them to produce more grain. It was also a regular practice to turn war criminals into slaves, allowing cheap labor that could be worked long and hard increasing production. Egypt, Sicily and Tunisia in North Africa were taken over, th...
