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Bard College

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Articles 1 - 26 of 26

Full-Text Articles in Economic History

Financial Alcoholism: An Institutionalist Analysis Of The Repeal Of The Glass-Steagall Act And 2008 Financial Crisis, Eli C. Shapiro Jan 2023

Financial Alcoholism: An Institutionalist Analysis Of The Repeal Of The Glass-Steagall Act And 2008 Financial Crisis, Eli C. Shapiro

Senior Projects Spring 2023

The thesis argues that the the repeal of the Glass-Steagall Act in 1999 was not a leading cause of the 2008 Financial Crisis but did contribute to its scope. It finds that the American economy was already on track before the repeal for a late-2000s financial crisis due to sectoral imbalances as well as the rise of money manager capitalism during the decades before the repeal. However, the repeal contributed to the "legitimization" of financial holding companies and originate-to-distribute model, spreading toxic assets around the financial sector and exposing depositors to this risk during a time of rapidly increasing banking …


Determinants Of Profitability Of Commercial Bank In Afghanistan, Mohammad Osman Saeedi Jan 2023

Determinants Of Profitability Of Commercial Bank In Afghanistan, Mohammad Osman Saeedi

Senior Projects Fall 2023

Over the past two decades, the global financial sector, particularly the banking industry, has undergone significant transformations impacting its performance. Recognizing the pivotal role of the financial sector in economic growth, this study focuses on Afghanistan's banking sector, tracing its roots to the establishment of the first commercial banking institution, Bank Millie Afghan, in 1933. Following decades of war, the banking sector experienced revitalization after 2001, marked by the emergence of a new government, international aid inflow, and increased business activities. Despite remarkable growth, Afghanistan's banking sector faces challenges such as security concerns, cultural issues, and a developing banking culture. …


Exploring The Rise In Anti-Immigrant Violence In South Africa: An Interdisciplinary Analysis Of Historical, Economic, And Political Factors, Yaseer Bolaji Abdulfatai Jan 2023

Exploring The Rise In Anti-Immigrant Violence In South Africa: An Interdisciplinary Analysis Of Historical, Economic, And Political Factors, Yaseer Bolaji Abdulfatai

Senior Projects Spring 2023

Senior Project submitted to The Division of Social Studies of Bard College.


The Transformation Of Japan From 1868 To 1970s: Detective Fiction As The Carrier Of Social Anxieties, Xinye Hu Jan 2022

The Transformation Of Japan From 1868 To 1970s: Detective Fiction As The Carrier Of Social Anxieties, Xinye Hu

Senior Projects Spring 2022

Senior Project submitted to The Division of Social Studies and Languages and Literature of Bard College.


The Gold Standard And Fiat Money System, Khawaja Mohammad Mudasser Jan 2022

The Gold Standard And Fiat Money System, Khawaja Mohammad Mudasser

Senior Projects Fall 2022

This paper explains two world monetary orders, the Gold Standard and Fiat Money. The paper argues that the Fiat Money system is better than the Gold Standard system because the Gold Standard system increases risk of deflation and restricts economic growth unlike the Fiat Money system. The paper discusses history of both monetary regimes, policy mechanism under both systems and economic outcomes. The paper states the policy and framework for exchange rates and trading under both regimes. It also discusses monetary policy and gold/capital flows under both of the systems.


The Structures That Bind: An Examination Of Housing And Wealth Inequality In America And A Proposal For An Effective Economic Solution, Baylor Brown Jan 2021

The Structures That Bind: An Examination Of Housing And Wealth Inequality In America And A Proposal For An Effective Economic Solution, Baylor Brown

Senior Projects Fall 2021

Given America’s violently racist history, it should not come as a surprise that housing inequality still runs rampant in 21st century American cities. What may come as more of a surprise, however, is the true complexity of housing inequality and its broader implications. Housing inequality is not an independent phenomena and there are a multitude of structures which enable housing discrimination to interact with and perpetuate other forms of discrimination. Economically speaking, a public banking option in the U.S would serve as an effective tool to regulate household finance and chip away at the foundations of inequality. While there are …


The Untouchability Of Dalits: The Economic And Social Exclusion Of Dalits In The Post-Independence Era, Duhita Das Jan 2021

The Untouchability Of Dalits: The Economic And Social Exclusion Of Dalits In The Post-Independence Era, Duhita Das

Senior Projects Spring 2021

This project examines whether economic development efforts in India were effective in mobilizing Dalits during the post-independence era. Global and national policy continue to fail to recognize the role caste plays in inequality and poverty, further excluding Dalits from gaining freedoms continuously rewarded to higher-castes. By taking a historical approach when examining the caste system and its persistence in economic and social structures in the modern era, there can be a greater understanding of how Dalits remain excluded from major institutions and struggle to mobilize, regardless of the gaining of constitutional rights. From a chronological perspective, this project investigates the …


New Perspectives On Contemporary Chinese Growth: The Developmental State Model And China’S Success In The Reform Period, Adam T. Savino Jan 2021

New Perspectives On Contemporary Chinese Growth: The Developmental State Model And China’S Success In The Reform Period, Adam T. Savino

Senior Projects Spring 2021

The success of China since 1979 has often been boiled down to market fundamentals, neglecting its largely state directed system. This essay compares the developmental state theory of growth, established by historian Chalmers Johnson, to China’s economic practices over the last 40 years. Ultimately, the purpose of this essay is to demonstrate that China’s growth is based on a unique application of the developmental state model, and that this model is potentially transferable to other economies that have yet to develop as robustly.


Llamas No Son Ovejas The Pervasive Impacts Of Colonization On Indigenous Peoples Labor Market Choices In Peru: An Examination Of Exclusionary Institutions Through Sociohistorical And Economic Lenses, Molly Jeanne Devine Jan 2021

Llamas No Son Ovejas The Pervasive Impacts Of Colonization On Indigenous Peoples Labor Market Choices In Peru: An Examination Of Exclusionary Institutions Through Sociohistorical And Economic Lenses, Molly Jeanne Devine

Senior Projects Spring 2021

Using historical and empirical evidence, this Senior Project looks at the long-term impacts of colonization on economic, social, and cultural institutions. This project explores impacts both immediately upon Spanish arrival in 1532, and created during the Spanish colonization of Peru. Systems of forced labor created through colonization created two separate paths of development: one for the Spanish and Spanish-selected Peruvian elite and another for the Indigenous people of Peru. Vestiges of the Spanish colonization of Peru continue to manifest themselves in modern times in many ways. This Senior Project examines the link between Indigenous individuals and their participation in the …


"Made In Bangladesh", Joya Alia Syed Jan 2020

"Made In Bangladesh", Joya Alia Syed

Senior Projects Spring 2020

The 2013 Rana Plaza factory collapse in Bangladesh was the worst industrial disaster in modern times and began a turning point for change in the garment sector. This paper will uncover human rights violations such as the exploitation of garment workers, verbal and physical abuse as well as the right for workers to collectively bargain. The paper will begin with a brief background of the Bangladeshi garment sector, then the pressure of the “Fast Fashion” demand for the industry and gender dimensions. It will conclude with remediation efforts from local and international levels from social movements, campaigns, and programs such …


Non-Increasing Cost Functions: Making The Connection Between Keynesian And Neoclassical Macroeconomics, Max Von Holtzendorff Jan 2020

Non-Increasing Cost Functions: Making The Connection Between Keynesian And Neoclassical Macroeconomics, Max Von Holtzendorff

Theses - Graduate Programs in Economic Theory and Policy

No abstract provided.


Analysis Of Unbalanced Growth Caused By Foreign Direct Investment In China’S Regional Economy, Zewen Zheng Jan 2019

Analysis Of Unbalanced Growth Caused By Foreign Direct Investment In China’S Regional Economy, Zewen Zheng

Senior Projects Spring 2019

Since reform and opening up in 1979, China’s national economy has grown rapidly, and thenational economic strength has been continuously enhanced. However, the regional economy hasnot grown in a balanced way. Economic imbalances in China’s three regions (eastern, central,and western) has become increasingly large. The eastern region has become the largest beneficiary area for absorption of foreign direct investment (FDI), while the central and westernregions have absorbed less, a trend of “high in the east and low in the west.” Undoubtedly, FDI plays an important role in promoting China’s economic growth and has become an important part of China’s national …


If The Shoe Fits: A Historical Exploration Of Gender Bias In The U.S. Sneaker Industry, Rodney M. Miller Jr Jan 2019

If The Shoe Fits: A Historical Exploration Of Gender Bias In The U.S. Sneaker Industry, Rodney M. Miller Jr

Senior Projects Spring 2019

In its short history, which barely spans 100 years, sneakers have quickly become a polarizing and captivating commodity, gaining the attention of consumers, fashion houses and major retailers everywhere. Unfortunately, the sneaker industry also has a history of implicit, unconscious bias towards women. A thorough examination of the history of sneakers has discovered three major social movements that can be identified as the key contributors to the growth of the sneaker industry: (1) physical activity, (2) professional sports, and (3) Hip-Hop—the culture not the music genre. Upon further examination, it became evident that each of these social factors have their …


Examination Of United States Housing Data And The Racial Wealth Gap Case Study Of Westchester County, Ny, Ezekiel Nana Demasio Jan 2019

Examination Of United States Housing Data And The Racial Wealth Gap Case Study Of Westchester County, Ny, Ezekiel Nana Demasio

Senior Projects Spring 2019

Senior Project submitted to The Division of Social Studies of Bard College.


'Once Were Warriors', Now We're Unemployed: A Solution For New Zealand's Persistent Unemployment, Jack Eammon English Jan 2018

'Once Were Warriors', Now We're Unemployed: A Solution For New Zealand's Persistent Unemployment, Jack Eammon English

Senior Projects Fall 2018

The economic policies of New Zealand have tended to reflect the economic orthodoxies of academia at any given time. Given that adherence to economic ‘truth’ as espoused by neoclassical economics is supposed to engender allocative efficiency and general equilibrium, this paper takes just one variable - unemployment - and explores why its market has continually failed to clear. Both demand and supply side factors are explored through a survey of the literature on employment determination, and a theoretically robust solution is proposed in the tradition of Modern Money Theory.


Perón And The Argentine Paradox: An Investigation Into An Economic Mystery, Antonio Luis Gansley-Ortiz Jan 2018

Perón And The Argentine Paradox: An Investigation Into An Economic Mystery, Antonio Luis Gansley-Ortiz

Senior Projects Spring 2018

Senior Project submitted to The Division of Social Studies of Bard College.


The Zambian Consensus, Stefan Jan Briggs Jan 2018

The Zambian Consensus, Stefan Jan Briggs

Senior Projects Spring 2018

Senior Project submitted to The Division of Social Studies of Bard College.


"By Gifts One Makes Slaves": Long-Term Effects Of Denmark's Colonization Of Greenland, Sofia Stærmose Hardt Jan 2018

"By Gifts One Makes Slaves": Long-Term Effects Of Denmark's Colonization Of Greenland, Sofia Stærmose Hardt

Senior Projects Spring 2018

Greenland was colonized by Denmark in 1721. Although Denmark’s colonization had elements of racism and economic exploitation, it was not violent. This project explores the long-term effects of a paternalistic colonization on the establishment of extractive institutions and on social well-being and cohesion. I examine ways in which Danish colonial policy, from 1721-1953, on the one hand sought to “civilize” and modernize Greenlandic society and, on the other hand, attempted to maintain traditional hunting practices for economic gain. These complex and sometimes contradictory social engineering techniques of governance have been linked to long-term problems of Greenlandic identity. Greenland was officially …


From The Fair Labor Standards Act To Individual State Minimum Wages: Measuring State Minimum Wages And Economic Performance, Adam Charles Carafotes Jan 2017

From The Fair Labor Standards Act To Individual State Minimum Wages: Measuring State Minimum Wages And Economic Performance, Adam Charles Carafotes

Senior Projects Spring 2017

This project will analyze the historical foundation of the minimum wage in the United States prior to the first federal wage enactment in 1938 to the current federal wage as well as individual state wages. This paper will offer a historical overview along with economic ideology in determining appropriate minimum wage floors on state and federal levels of the economy. The question of raising either state or federal minimum wages has drawn great importance in the eyes of our country and in the eyes of economic thinkers, policymakers, and individuals. The minimum wage has been the backbone for working individuals …


The Political Economy Of State-Level Emergency Unemployment Relief: The Case Of The New York Tera, 1931-37, Hasani J. Gunn Jan 2017

The Political Economy Of State-Level Emergency Unemployment Relief: The Case Of The New York Tera, 1931-37, Hasani J. Gunn

Senior Projects Fall 2017

Governor Franklin D. Roosevelt created The New York State Temporary Emergency Relief Administration (TERA) in response to the Great Depression. Operating from 1931-37, this state-level jobs-and-income style policy featured comprehensive in-kind assistance, “home relief,” and emergency unemployment relief, “work relief.” Though the program is fascinating just in this respect, it has been systematically overshadowed by the alphabet soup of New Deal era relief policies. We revisit the TERA to shed light on what it offered to the people of NY and, overall, what it offered to the economy. We find significant evidence that the program stabilized the State economy by …


Institutionalized: How Racial Wealth Inequality Creates A Cycle Of Mass Incarceration, Alphonso C. Kenneth Jan 2017

Institutionalized: How Racial Wealth Inequality Creates A Cycle Of Mass Incarceration, Alphonso C. Kenneth

Senior Projects Fall 2017

Racial wealth inequality is a relentless cycle that operates uniquely in America because it implies that the racial consequences of racism continue to influence decisions made in structures and institutions and create unjust economic relationships between white and Black people in America.(Richard F. America) The recent political discourse alleges, by asserting neoclassical theory, that the wealth divide is resultant of differences in self-determination, prioritization, and work ethic alone varying across racial demographics — reinforcing the assumption that some races of people (Whites and Asians, for example) work harder than others(like Blacks). Therefore, by the transitive property, racial wealth inequality is …


Indonesia’S Palm Oil Expansion & Further Contribution To Economic Fragility, Kathryn Devon Dixon Jan 2016

Indonesia’S Palm Oil Expansion & Further Contribution To Economic Fragility, Kathryn Devon Dixon

Senior Projects Spring 2016

Indonesia's growing dependence on the expansion of palm oil plantations as one of their prime exports has lead to the creation of many externalities both environmental and social, which has furthered their financial fragility. Since the Asian Economic Crisis, Indonesia has seemingly been growing substantially, but recent occurrences show that Indonesia may have more fragility than known.


Examining Monetary Policy In The Absence Of A Central Bank And Sovereign Currency In Palestine, Salam Marwan Awartani Jan 2016

Examining Monetary Policy In The Absence Of A Central Bank And Sovereign Currency In Palestine, Salam Marwan Awartani

Senior Projects Spring 2016

There is extensive literature on the Israeli-Palestinian conflict that studies the historic, political, and social aspects. However, few scholars have examined the economic model that was born out of the conflict and the various implications behind it. According to Charles Goodhart: “A Central Bank has two main functions. Its first (macro-economic) function is the operation of discretionary monetary policy” and a “second (micro-economic) function, of providing support (e.g., via Lender of Last Resort assistance), and regulatory and supervisory services to maintain the health of the banking system”[1]. However, with the Israeli Occupation’s imposed restrictions on the PMA, the …


Making A Killing: A Study Of The Trade And Production Of Arms, Jonas D. Kempf Jan 2016

Making A Killing: A Study Of The Trade And Production Of Arms, Jonas D. Kempf

Senior Projects Spring 2016

This thesis attempts to put arms transfers and the modern defense industry in historical context by identifying the drivers of change in the trade and production of arms over time. To this end, a review of the literature on the arms trade up to the Second World War comprises the first part of the study, presenting a largely qualitative overview of shifts in the flow of arms, the location of the world’s arms-producing centers, and changes in attitudes towards transfers as they have affected the trade. The second half of the study provides a data-driven analysis of trends in the …


Roosevelt’S Recession, 1937: Lasting History And Contested Policy, Jonian Rafti Jan 2015

Roosevelt’S Recession, 1937: Lasting History And Contested Policy, Jonian Rafti

Senior Projects Spring 2015

Senior Project submitted to The Division of Social Studies of Bard College.


Comparison Of China And Japan’S Economic Development In The Semiconductor Industry, Rundong Ke Jan 2012

Comparison Of China And Japan’S Economic Development In The Semiconductor Industry, Rundong Ke

Senior Projects Spring 2012

While Japan marked its success in surpassing the U.S. to dominate the semiconductor industry in 1986, the Chinese semiconductor industry transformed from a small sector into a global competitor. This thesis tracks and compares the developmental histories of this industry between China and Japan and analyzes the differences in government policy, economic systems, comparative advantage and trade policy in both countries, in order to ascertain the two countries’ industrial development strategies and governments’ impacts on the semiconductor industry. This analysis finds that Japan’s development strategy targeted a knowledge- and capitalintensive industry (semiconductor industry, in this case) by providing preferential assistances …