The capitalist, of course, is essential to the
culture of capitalism. It is the capitalist who invests and who, hopefully, profits
from her or his investment. Most people, particularly in the wealthier countries of
the world, are, in one act or another, capitalists; they invest in banks, insurance
policies, pension funds, bonds, stocks, etc., hoping to profit from their financial
endeavors. The following sites all have to do with investment in one or another;
some address the historical development of capital accumulation, many address the social
entity which, in the culture of capitalism, controls a substantial amount of the
capital--corporations. Some trace the development of global economic integration,
while others provide information on who are and were the richest people in the
world. And all revolve around the object that is central to the culture of
capitalism--money.
 1999 Index of Economic Freedom
http://www.heritage.org/index/execsum.html
This report from the conservative Heritage Foundation ranks
countries by their degree of "economic freedom." It's a fascinating
summary of the extent to which different countries allow the free flow of
production, investment and consumption. The Report concludes that the greater the
degree of economic freedom in a country, the higher the rate of economic growth.
1999 The World’s Richest
People -- _Forbes_ [Javascript] http://www.forbes.com/tool/toolbox/billnew/
The rich get richer, indeed. The latest annual ranking of the
world’s richest people from _Forbes_ magazine includes 200 billionaires from
around the globe. Leading the pack once again is Microsoft Chairman Bill Gates, with a
cool $90 billion. Six other Americans join him in the top ten. Users can peruse the list
of the filthy rich by name, net worth, or country. Brief biographical entries are provided
for each. A clickable world map of billionaires and an internal search engine are also
provided. [MD] (Scout Report 6/25/99)
- A
Comparative Chronology of Money
- www.ex.ac.uk/~RDavies/arian/amser/chrono.html
Do you want to learn about the history of money? This
site is a great place to do it. The award winning site is built around the book by
Glyn Davies, A History of Money from Ancient Times to the Present Day. You
can find a chronology on the evolution of money, along with a series of essays based on
subjects covered in the book. According to Davies, what is inflation? Check out the
essay on "Third World
Money and Debt in the Twentieth Century." According to Davies, what is the
role of population in inflation? What are some of the cures he suggests for
hyperinflation? If you want to see what money from different countries look like,
check Ron Wise's Directory of
World Currency.
Africans in
America—PBS Online
http://www.pbs.org/wgbh/aia/
"PBS offers this companion site to their new television
series that "chronicles the history of racial slavery in the United States...and
explores the central paradox that is at the heart of the American story: a democracy that
declared all men equal but enslaved and oppressed one people to provide independence and
prosperity to another." The four sections of the Website are based on time periods
and correspond to the four television episodes of the series: The Terrible Transformation
(1450-1750), Revolution (1750-1805), Brotherly Love (1791-1831), and Judgment Day
(1831-1865). Each of the four programs contains a Narrative (historical essay) and a
Resource Bank (over 400 items, including biographies and events, historical documents, and
interviews). PBS has also developed a Teacher’s Guide for each episode, containing
questions and activities, suggestions on how to integrate materials from the Resource Bank
into classroom learning, a list of related print and Web resources, and an outline of each
episode." (Scout Report, 1023/98)
"America and the World Trade
Organization"
http://www.ustr.gov/new/wto_usa.html
.pdf Version
http://www.ustr.gov/new/wto_usa.pdf
Available from the United States Trade Representative, America and the World Trade
Organization (WTO) is an eighteen-page article examining how the US benefits from the WTO.
This article gives a brief history of the WTO and lists interesting facts and trivia about
the promotion of US employment and exports by the WTO. Also included is a detailed
explanation of the goals of the WTO, and the ways in which the WTO aims to promote better
jobs, living standards, and economic opportunities for Americans. (Scout Report for
Business and Economics, 9/23/99)
- Armchair Millionaire
- www.armchairmillionaire.com/
If you are reading Global Problems and the Culture of
Capitalism, and you are playing the role of a merchant adventurer, you might as
well find out what you are supposed to do. At the Armchair Millionaire site you
learn the five steps to making your fortune in the modern world (you have to register,
although it's free). The site, of course, is a commercial one (for Charles Schwab,
Inc.), but it does give you a good idea of the principles of investing. Check out the Global
Investing page.
American
Heritage--The Top 40 American Capitalists
http://www.americanheritage.com/98/oct/40index.htm
Who were the wealthiest Americans of all time? How does
Bill Gate's fortune compare to that of John D. Rockerfeller? You can find out the
answer to that at The American Heritage 40 site. You can also find out how the
ranking was established, along with brief biographies and photos of each of the
40. You will also find a discussion of how they accumulated thie
fortunes. A wonderful resource to learn how the best players in the game of capital
accumulation performed their magic. You can also find out more about other rich
people at Forbe's World's
Richest People site. In addition there is a wonderful site devoted to John D.
Rockerfeller (see below for description and link).
- Asia's
Economic Collapse: Some Views
- www.stern.nyu.edu/~nroubini/asia/AsiaHomepage.html
Nouriel Roubini's site on the reasons for the Asian economic
collapse that began in 1997. A good place to begin is at the chronology of the
collapse, and then delve into some of the many essays and analyses of the collapse.
You'll need to learn some basic economic concepts, and Roubini does an excellent
job presenting these and offering some reasons for the collapse.
A wonderful case study in the dynamics of global trade.
"Been
Here So Long": Selections from the WPA American Slave Narratives
http://newdeal.feri.org/asn/
"This new site from the New Deal Network
(reviewed in the October 25, 1996 Scout Report) features a selection of seventeen
interviews of former slaves conducted by members of the Federal Writers Project of the
Works Progress Administration (WPA). As with the recollections featured at the University
of Virginia’s American Slave Narratives: An Online Anthology (discussed in the
February 28, 1997 Scout Report), these narratives are from the 2,000 interviews with
ex-slaves collected during 1936-1938 by journalists and other writers employed by the
Federal Writers Project. In addition to the narratives, organized alphabetically by name,
the site features an introductory essay, three lesson plans, and a modest annotated guide
to related online resources." (Scout Report, 4/2/1999)
Berkeley Roundtable on
International Economy
brie.berkeley.edu/BRIE/
"The Berkeley Roundtable on the International Economy
(BRIE) is a small,
interdisciplinary research project at the University of California at Berkeley ...[that
considers] the real-world interactions of technology, markets, and economies and to
formulate path-breaking positions that challenge conventional economic
policy-making." There is a wealth of information at the site, including essays,
links to other sites, and courses on economic globalization.
- Betting on the
Market
- www.pbs.org/frontline/shows/betting/
A companion site to the PBS Frontline special on the
stockmarket. Check out the essay by Ken Kursen, Young
Investors and the Market. It will provide a good introduction to the workings of
the stock market, although most of the material is dated before the beginning of the
"bear market" of 1998.. How did Kursen react to his first experience with
a "bear market"? How do you think he reacted in August of 1998?
- Centre for the
Study of African Economies [.pdf]
- users.ox.ac.uk/~csaeinfo/
Part of Oxford University's Department of Economics,
"The Centre applies modern research methods to Africa's economic problems. Research
is both microeconomic, with a focus on the problems facing individual producers (farms and
firms) in Africa, and macroeconomic. It ranges from studies on how to make health care
more cost-effective in rural Ethiopia (by spending money on drugs and equipment rather
than building more clinics), to the determinants of inflation in Kenya. It has a strong
focus on the constraints on investment in manufacturing, drawing upon surveys in Ghana,
Zimbabwe, Tanzania, Zambia, Kenya, Ethiopia, and Côte d'Ivoire."
- Citizen's
Global Trade Watch web site
- http://www.citizen.org/pctrade/tradehome.html
-
- Global Trade Watch is a division of Public Citizen, the
national consumer and environmental organization founded by Ralph Nader in 1971. Trade
Watch "fights for international trade and investment policies promoting government
and corporate accountability, consumer health and safety, and environmental protection
through research, lobbying, public education and the media." At the site you
will find information on Congrssional trade bills that promise to make things worse for
African nations, as well as information on "fast track" trade legislation, MAI,
NAFTA, and so on. There is also an extensive list of links to other sites on
international trade.
-
- Commodity Futures &
Financial Market Charts
- tfc-charts.w2d.com/
One of the features of the culture of capitalism is the
commodification of virtually everything, including agricultural produce, raw materials,
etc. Playing the commodities market is one of the major money-making (or losing)
games available to investors. At this site you can check out the ups and downs of
major commodites including barley, corn, wheat, cattle, coffee, and oil. Check out
some of the trends. How does the price of cattle relate the price of corn? Why
should they be related? What has happened to coffee prices? Finally, find out
what it takes to become a commodities trader by taking the short course on commodity trading.
The Crash [RealPlayer]
http://www.pbs.org/wgbh/pages/frontline/shows/crash/
This extensive online report, by PBS television’s
Frontline, chronicles the global financial crisis of 1998. A five-minute video follows
Thailand’s crash and its role in beginning the Asian financial crisis. Also included
are a timeline of the events, _Time Magazine_ reporter Andrew Meier’s report on the
impact of the crash on Russia’s economy, and interviews with leading economists and
financial journalists including Jeffrey E. Garten, Stanley E. Fischer, and Joseph E.
Stiglitz.(Scout Report for Business and Economics, 7/14/99)
Debt Initiative for the Heavily
Indebted Poor Countries—IMF http://www.imf.org/external/np/hipc/hipc.htm
A joint project from the International Monetary Fund and
the World Bank, the Debt Initiative for the Heavily Indebted Poor Countries (HIPCs)
consists of an outline for adjustment and reform programs sponsored by these two
organizations. The Website contains the framework for the project, which targets the 41
most heavily indebted poor countries, and gives examples as to how the initiative will
work. Also included are archived documents about the HIPCs dating from 1998 to present,
publications on debt relief, and information on the HIPCs from the World Bank. (Scout
Report, 8/27/99)
The E-Book: Global
Money, The Good Life and You [frames]
www.uiowa.edu/~erclog/webdex/
-
-
Written by Professor Enrique R. Carrasco and his students,
the E-Book Global Money, The Good Life and You provides basic and accessible
discussion of key concepts relating to international finance and development.
Coverage includes the roles of the IMF and the World Bank in a globalized economy as well
as the Mexican and Asian financial crises. A wonderful place to begin understanding
some of the history of the idea of development and the role (both good and bad) of
multilateral institutions. For starters, check out how the idea of development evolved.
Dr. Ed Yardeni's Economics Network
[.pdf]
www.yardeni.com/
Dr. Ed Yardeni is the Chief Economist of Deutsche Bank
Securities in New York. This site contains lots of information on international
economics and investment. Many of the documents must be downloaded and read with Adobe Acrobat.
Economic
Globalization (An excellent site offering information on NAFTA, GATT, the MAI.
www.panix.com/~jimcook/globalization
Global economic integration has been one of the dominant
trends of the past two to three hundred years, culminating in the recent spate of
free-trade agreements. This site provides excellent resources on the social,
political, and economic consequences of this development.
Economic
Globalization: From The Economist
http://www.economist.com/editorial/freeforall/18-1-98/contents_page.html
In Global Problems and the Culture of Capitalism, we
argue that one major features of the history of capitalist expansion is the growing
integration of world economies, a phenomenon referred to recently as "economic
globalization." In this series of eight brief articles, The Economist examines
this phenomenon, arguing, among other things, that it is neither as recent as many
observers believe, nor as extensive. The articles (and links to them) are:Measuring globalisation, Is there a global capital market?, Is there a global labour market?, International trade, The shipping revolution, What do multinationals do?, The globalisation of communications, Does globalisation weaken government?
- Economic
History
- socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/new.html
A collection of classic works on economics and related
subjects; essays and selections by Ricardo, Maine, Durkheim, Mill, Turgot, Keynes,
Rousseau, and Veblen, among others. An excellent source of primary documents.
- Economic
Data and Links to Other Sources for Economists
- www.csufresno.edu/Economics/econ_EDL.htm
One place that you can find an assortment of economic data on
the U.S., China, and other countries, along with links to other general economic sites.
- Economic History Services
- www.eh.net/
Text only:
www.eh.net/ehs_text.shtml
Another general site with a collection of links to sites on
economics and related subjects.
- Economic Policy Institute
- www.epinet.org/
"The Economic Policy
Institute's mission is to provide high-quality research and education in order to promote
a prosperous, fair, and sustainable economy. The Institute stresses real-world analysis
and a concern for the living standards of working people, and it makes its findings
accessible to the general public, the media, and policy makers." Some excellent
sources on trade and globalization, as well as sustainable development.
- The Economist (Frames
Required)
- www.economist.com/
One of the foremost sources of global economic news,
particularly for investors. Check out Burgernomics and the Big
Mac Index (no, it's not about home runs, it's one way of looking at and understanding
the global fluctuations of currency values.) The site also includes
the Coca-cola map of the world about the economic and political significance of cola
consumption around the globe; (The Economist finds that Coca-cola use correlates
positively with quality of life and democracy), an article on the corporate alliances of
McDonald's and a review of two books about McDonald's and Coca Cola. What
country has the most expensive Big Mac? Which countries have undervalued currencies?
You can also check out their special
archives on business, economics, and finance.
- Essential
Principles of Economics: A Hypermedia Text
- william-king.www.drexel.edu/top/prin/txt/EcoToC.html
An economic textbook online! Written by
Roger Ashton McCain III of Drexel University, the text is beautifully written. I'm
not an economist, so I won't try to review the more technical aspects of the work, but
McCain (a prolific writer) does an excellent job explaining basic concepts. Check
out, for example, his discussion of the reasons for a
country's wealth. There is also a self-paced and graded multiple choice exam section,
and overheads for classroom use.
EuroMoney
http://www.euromoney.com/index.html
If you are going to be a modern merchant adventurer,
investing globally and making a profit, you need to know as much as possible about the
economic status of the countries you are investing in, as well as knowing about events
that might affect that status. EuroMoney is the place to get this information.
You have to register to gain access to the site, but it is free. When you get there,
check the risk levels of various countries. Which countries are the safest
investments? Which are the riskiest?
European Voyages of
Exploration
http://www.acs.ucalgary.ca/HIST/tutor/eurvoya/index.html
University of Calgary Applied History
Research Group Multimedia History
Tutorials
http://www.acs.ucalgary.ca/HIST/tutor/
"This richly illustrated (yet quickly loading) tutorial from
the Applied History Research Group at the University of Calgary guides users through the
European voyages of exploration and conquest in the fifteenth and sixteenth centuries.
Focusing on Spain and Portugal, the site explores the economic, political, and cultural
factors that sustained and advanced exploration. Users will find brief histories of the
two kingdoms and overviews of their voyages to the Atlantic, Africa, Asia, the Caribbean,
and the Americas. The tutorial includes numerous maps, in addition to discussions of
issues such as cartography, navigation, warfare, religion, slavery, and communication, in
the Knowledge & Power section..." (Scout Report, 3/12/99)
- Financial
Scandals Site
- www.ex.ac.uk/~RDavies/arian/scandals/
The culture of capitalism creates, as do all societies, its
own types of deviance and crime. The most distinctive (although by and large the
least punished) are the large-scale financial scandals that sometimes involve millions and
even billions of dollars. This award winning site reviews some of these, such as
BCCI, Barings, Daiwa, Sumitomo, Credit Lyonnais, Bre-X, among others. The site
contains articles on the various scandals, and comments from government officials. Check
out the details of the Barings
collapse, and how one person, (a 28-year-old trader named Nick Leeson) could, in
today's global economy, bring down one of the major banks in the world.
Focus on the Global South
http://focusweb.org/
A superb site that addresses the affects of the globalization
of trade on the majority of people in the periphery. "Even as the wealthy and
some sections of the middle-class around the world have progressed economically, the
oppressed and poor, especially women and indigenous peoples, have over the last 15 years
suffered a major setback in their quest for economic development, social equality and real
independence. There has also been a significant and steady erosion of a large portion of
the population's economic base. This trend is taking firmer root as the globalization
process accelerates and becomes all-pervasive." Focus is directed to
this problem. One valuable set of resources at the site is the series of bulletins on global trade.
Fundamental Facts about US Money
http://www.frbatlanta.org/publica/brochure/fundfac/money.htm
The Federal Reserve in Atlanta has created a page devoted to
basic information about American currency. Detailed descriptions of coins and bills are
given as well as graphics and diagrams which illustrate design and security features.
Tables present a historical look at the amount of American cash per capita. This site also
teaches how bills circulate and gives tips for spotting counterfeit cash. (Scout Report
for Business and Economics, 7/14/99)
Gateway
to the Silk Road
http://www.smn.co.jp/features/silkroad/index.html
- One of the great trade routes in history was the Silk Road
that connected China's riches to Europe and the Middle East. In Chapter Three of Global
Problems and the Culture of Capitalism, we take a trader's tour of the Silk Road;
this site will take you even further, detailing the voyages taken by thousands of
traders. The site provides stories about the areas through which the road passed,
along with photos of what it looks like today.
-
- Global Investor
- www.global-investor.com/index.htm
A wonderful site for getting all kinds of information on
global markets. Lots of links to other global investing sites. Check out some
of the lastest market news for such things
as currency exchange rates.
Global
Trade Expansion and Liberalisation: Gender Issues and Impacts [.pdf] http://www.ids.ac.uk/bridge/re42.pdf
"Global Trade Expansion and Liberalisation:
Gender Issues and Impacts is a new study prepared by Marzia Fontana, Susan Joekes, and
Rachel Masika for the UK-based Department for International Development (DFID) and
published by Briefings on Development and Gender, BRIDGE (reviewed in the March 23, 1999
Scout Report for Social Sciences). The authors advocate the use of gender as a variable in
formulating trade policies and consider the implications of trade liberalization on the
livelihood of women in poor nations. This 86-page study also reviews existing research on
gender and trade and provides case studies for Ghana, Uganda, Sri Lanka, Pakistan,
Bangladesh, and Jamaica."(Scout Report, 4/9/99)
Handbook of
International Economic Statistics 1997--CIA
www.odci.gov/cia/publications/hies97/
Lots of statistics on countries compiled by the CIA.
For example, check out the GNPs, import statistics and
energy consumption rates of selected countries.
- History
of Economic Thought
- www.econ.jhu.edu/people/fonseca/het/hethome.htm
The New School for Social Research's economics site on the
history of economics. A wonderful resource for learning about the history of
economics. "This web site includes home pages for over five hundred economists
from the 17th Century until the modern day, organized in three main forms - through an Alphabetical Index, by
division into Schools of
Thought (loosely defined) and via linked surveys on topics.
Each individual web page contains a bibliography of their most important works plus some
comments, composed by ourselves, on their individual contributions to economic
theory."
- Human
Society and the Global Economy
- online.bcc.ctc.edu/econ100/ksttext/chaplist.htm
An online book about global economics written and prepared by
Kit Sims Taylor. "Human Society and the Global Economy is a
textbook-in-progress for a survey course in economics. It takes an
institutionalist/Post-Keynesian approach. The organization of the book is primarily
historical -- following the intertwined development of the global capitalist economy and
of economics from the beginning of capitalism to the present. Themes that are examined
include: micro-order and macro-order; market and state; development, growth and evolution
of the capitalist economy; technology and society; distribution of income and wealth; and
the visions of the major economists."
Inflation Calculator
http://www.westegg.com/inflation/
This simple inflation calculator uses the Consumer Price Index to adjust any given
amount of money, from 1800 to 1998. Creator S. Morgan Friedman uses data from the
_Historical Statistics of the United States_ for statistics predating 1975 and the annual
_Statistics Abstracts of the United States_ for data from 1975 to 1998. Links to
other online inflation information are also included. (Scout Report for Economics and
Business, 8/12/99)
Institute for International Economics
www.iie.com/
"The
Institute for International Economics is a private, nonprofit, nonpartisan research
institution devoted to the study of international economic policy. Since 1981 the
Institute has provided timely, objective analysis of key international economic problems
and proposed concrete solutions to them." You can find books (generally with
the introduction Online), and a series of working papers on international economics.
Check out the recent working paper by C. Fred Bergsten on 50 Years of GATT/WTO.
Inter-American Development Bank [.xls, .pdf]
http://www.iadb.org/exr/english/index_english.htm
"Established in 1958, the Inter-American
Development Bank (IDB) funds cooperative efforts "to promote the economic and social
development of Latin America." Current data on the economies, political systems, and
cultures of the Americas is available from the IDB’s economic, trade, and social
databases with estimates of balance of payments, income distribution, and non-financial
public sector statistics in comma-delimited format for downloading. Recent working paper
series on sectral topics (1996-present) are also available, as well as IDB country reports
with statistical tables and graphs." (Scout Report, 2/19/99)
International Monetary Fund
www.imf.org/
Arguably the most influential financial institution in the
world, the IMF was established as part of the Bretton Woods agreement in 1944, and often
serves as the lender of last resort to troubled world economies, and is often criticized
for the effects on the poor, on women and children, and the environment of the economic
remedies it proposes. At the site you will find recent press releases, publications, and
lists of member states. If you are interested in knowing more about the IMF, check out
their page on frequently asked
questions.
invest-o-rama
http://www.investorama.com/
Featuring a directory with other 11,000 sites in 141 catagories, invest-o-rama is a
comprehensive portal into investment resources online. Users can enter their ticker names
and receive quotes on their stocks from six different companies including Moneynet and
Advanced Charting. Invest-o-rama also includes featured articles, investor tools, and
links to financial news. Users may also sign up for the free Invest-o-rama newsletter or
ask Doug Gerlach, author of _The Complete Idiot’s Guide to Online Investing_,
an investment question. (Scout Report for Business and Economics, 8/12/99)
InvestQuest
[RealPlayer]
http://www.investquest.com/
InvestQuest is a company that "designs and hosts
comprehensive investor presentations and provides financial documents for over 10,000
public companies to users in more than 145 countries." The site hosts a database of
10K reports, 10Q reports, and proxy statements for over 10,000 companies, accessible by
company, ticker, or by searching the pop-down menu of industries. InvestQuest also has
daily news about the companies it tracks, annual reports, Direct Stock Purchase and
Dividend Reinvestment plans for several companies, and streaming audio that allows users
to listen in on analyst conference calls. (Scout Report for Business and Economics,
7/14/99)
John D.
Rockefeller and the Standard Oil Company
http://www.micheloud.com/FXM/SO/index.htm
How would you like to find out how one of the great fortunes
of the world was accumulated? Would you like to learn about the strategy to build a
giant conglomerate? The author, F. X. Micheloud describes his work as follows:
This text will explain you the commercial methods used by
John D. Rockfeller to conquer and rule the American oil industry between 1863 and 1911. I
tried to put these practices in their contexts, and to show the structures of this
industry. I stopped at the final 1911 dismantling, this period offering a textbook case of
a vertically integrated monopoly for the appropriation of a single natural resource. I
based myself on old sources, especially Tardell's groundbreaking book, and also on more
general books on the Robber Barons and the oil industry. I tried to give a neutral image
of the Standard Oil story, allowing the reader to make value judgements by himself.
"Seven hyperlinked chapters cover nineteenth century oil
industry technology, trusts and monopolies, Rockefeller commercial practices, and the
development of the Standard Oil Company, among others. The text is available in French or
English. Micheloud has enhanced the written information with a variety of archival images,
chronologies, and graphs throughout." (Scout Report for Business and Economics,
10/8/98)
Latitude: The Art and Science of
Fifteenth-Century Navigation
http://www.ruf.rice.edu/~feegi/site_map.html
Patricia Seed's wonderful site that contains almost
everything you wanted of needed to know about the period in which world trade began to
rapidly expand, and in which European seafarers established trading links all over the
world. You get information on everything from the kinds of ships that were used (and
how to build them), to the affects of ocean currents.
MAI Not (Information on
the implications of the Multilateral Agreement on Investment)
www.flora.org/mai-not/
The Multilaterial Agreement on Investment (MAI) is a proposed
trade tready that would, according to its supporters, enhance global trade. It
represents an example of the evolution of global economic integration discussed in Chapter
Three of Global Problems and the Culture of Capitalism. The major argument
of this site is that the "proposed Multilateral Agreement on
Investment (MAI) would cripple our governments' ability to implement laws in the
public interest, by permitting foreign-based corporations to directly sue our governments for huge
settlements through an unaccountable MAI tribunal." You can check here for
additional sites dealing with the MAI. (MAI
Websites Worldwide)
MarketPlayer
http://www.marketplayer.com/
How would you like to try your hand at making money in the
stock market, just like all the other capital controllers? At MarketPlayer you can
do just that, and even compete for prizes against other investment strategists. The
site allows you to set up a stock portfolio and see how much money you can make, without
the risk (or, the rewards, for that matter).
The
Middle Passage Web Site
http://3mill.bitshop.com/MiddlePassage/mphome.htm
"The Middle Passage web site was developed as a
Teacher's Action Project as part of a National Endowment of the Humanities Summer
Institute for Educators entitled, 'The Middle Passage: Making of the Atlantic World', held
at Howard University." The site traces the origins and nature of the middle
passage and answers a series of questions: 1.How did the Middle Passage begin? 2.Who were
the people enslaved during the Middle Passage? 3.How were the African captives
acquired for the Middle Passage? 4.What was the journey through the Middle Passage
like? 5.What happened to the Atlantic world as a result of the Middle Passage?
Money Talks
www.talks.com
"Money Talks features original daily commentary from a team of leading
financial journalists who focus on the equities marketplace, mutual funds, personal
finance, biotech, the retail industry, interactive technology, financial issues for
twenty-somethings, the economy and more. This savvy insight and a variety of interactive
tools are free to all who visit."
The Motley Fool
http://www.fool.com/
"Founded by David and Tom Gardner in 1993, The Motley
Fool provides amusing and educational investment information. Feature articles address
topics of money management, investment ideas, and stock research, among others. A clearly
arranged Info/Help! site index aids navigation. Current stock quotes, news, and an
intriguing "Fool’s School" of how-to short essays and key terminology round
out this lively and colorful collection. [MW]" (Scout Report for Business and
Economics, 9/10/98)
Museum of American Financial
History
http://www.financialhistory.org/
Financing the Civil War
http://www.financialhistory.org/civilwar/index.html
Founded by securities dealer John Herzog in 1988, the Museum
of American Financial History aims to collect and preserve US historical financial
artifacts that bring "the nation’s financial history alive." Students,
policy makers, media professionals, and the general public will enjoy selected articles
from the quarterly publication _Financial History_ in addition to online exhibits
like Financing the Civil War, a historical narrative complete with images of obsolete
banknote and securities issued by the North and South. [MW] (Scout Report for Business and
Economics, 7/1/99)
Mutual Funds
Interactive
www.fundsinteractive.com/index.shtml
If you're going to be a merchant adventurer, you might as
well get the latest information on mutual funds. There is also an excellent glossary of terms you need to
know if you are going to be a contemportary merchant adventurer.
NAFTA's
Positive Impact on the United States: A State-by-State Breakdown
www.heritage.org/heritage/library/categories/trade/fyi160.html
Opponents of free trade agreements that remove restrictions
on the free flow of trade between countries (see MAI Not above) argue that it costs
Americans jobs, creates sweatshops in the periphery, and increases the degradation of the
environment by turning environmental laws into regulations that illegally restrict
trade. This site at the Heritage Foundation presents data that it claims illustrates
the economic benefits of the North American Free Trade Act (NAFTA) for the United
States. For an alternative perspective on NAFTA check out Study on the Effects of NAFTA at www.ustr.gov/reports/.
NY Times Internet
Financial and Business resources
www.nytimes.com/library/cyber/reference/busconn.html
A comprehensive list of business and investment sites from
the New York Times. You can find information on Markets, Investing,
Companies,
Banking
& Finance, Government, Business
News, Business
Directories, and Miscellany.
Don't forget that you need to register at the New York Times site to get access to
the resources.
Preamble
Collaborative for Public Policy
www.RTK.NET:80/preamble/index.html
or www.preamble.org
"The Preamble Collaborative is an independent research
and public education organization based in Washington, D.C. Preamble works in partnership
with a broad network of academics, policy professionals and community leaders who share
our concerns about the pressing social, economic and political challenges facing the
United States." Their mission is to promote "vigorous public
dialogue about the economic problems confronting America's working families and encourage
the development of serious, workable solutions." At the site you'll find
articles and other resources relating to global economics. See, for example, the
article on the problems with the IMF.
The Relevance of Adam Smith
http://www.rich.frb.org/generalinfo/pubs/relevance/
The Federal Reserve Bank of Richmond explores the relevance of eighteenth-century
economist Adam Smith in today’s world. Quoting heavily from Smith’s famous work
_The Wealth of Nations_, this article summarizes many of Smith’s main themes
and ideas, and attempts to prove that Smith’s "ideas have become so thoroughly
absorbed into our intellectual heritage that they are no longer identifiable as having
originated with Adam Smith." (Scout Report for Business and Economics, 8/12/99)
SocialFunds.com
http://www.socialfunds.com/
It is easier than ever before to invest in companies that are more
"socially responsible" than others. This site, created in 1998 by Jay
Falk, provides information to guide investors to companies that meet a range of
guidelines, including their relations with labor, their environmental policies, customer
relations, and their efforts to promote equal access to jobs and promotion..
Social Impact of
the Asian Financial Crisis--ILO
www.ilo.org/public/english/60empfor/cdart/bangkok/index.htm
The International Labor Organization (ILO) provides this
report to focus on the social problems associated with the Asian financial crisis.
You can get information on the financial history of the crisis in Chapter One,
and read about some of the social impact (e.g. increase in poverty) in Chapter Two.
- Social
Investment Forum Guide to Socially Responsible Investing
- www.socialinvest.org/sriguide/index.htm
In Global Problems and the Culture of Capitalism, we
characterize the process of capital investment as a "black box;" money goes in
one end and more money comes out the other with little regard to the social or
environmental costs of this conversion. The movement for socially responsible
investing claims we should be aware of the costs, and that the capital investors can,
through their control of capital, help build a better world. This site provides
"advice and information to help you put your dollars to work to build healthy
communities, promote sustainable development, and foster a clean environment."
Click here to
find out more about socially responsible investing.
TheStreet.com’s 100
Events that Shaped a Century http://www.thestreet.com/basics/countdown/748433.html
The financial news service TheStreet.com ranks top
events effecting US businesses in the 20th century in The Basics of Business
History: 100 Events that Shaped a Century. Readers may view events such as Bill
Gates’ licensing of MS-DOS to IBM or the introduction of Bakelite in numerical order,
or put business history in socio-political context with the TSC Timeline—a triple
chronology with business, news, and cultural events arranged side-by-side. (Scout Report
for Business and Economics, 6/17/99)
Supply Side
University
www.polyconomics.com/univ.htm
Jude Wanniski's site that consists of a fascinating
two-semester course on his view of supply-side economics. Wanniski was an advisor to
Ronald Reagan and Jack Kemp among others (see Robert D. Novak's
introduction to Wanniski's book, The
Way the World Works). Supply-side economics (as Wanniski phrases it)
assumes that " production," or "supply," must precede consumption,
or "demand." Production must occur before consumption can occur. Check out
the basic concept in lesson
one.
Technology's Very
Richest 100--Forbes ASAP
www.forbes.com/asap/tech100/
Bill Gates tops the list, but you might like to know who is
following close behind.
Third World Network
www.twnside.org.sg
The site is devoted to understanding issues in economic
development, particular the affects of economic globalization on the periphery. A
lot of very good information, particularly the series of papers on Third World Economics, and those
devoted to the reasons for and affects of the global economic crisis of 1997-98.
Tobin Tax
Issues and Information
http://www.sierraclub.ca/national/halifax/Action/tobinindex.htm
The Halifax Initiative, a coalition of social groups
advocating financial institution reform worldwide, provides this clearinghouse on the
debate and passage of the Tobin tax, named after Nobel prize-winning economist James
Tobin. Canada adopted the taxation on all transactions in international financial markets
on March 23, 1999. Press clips, factsheets, and background information on this important
topic are available on-site. (Scout Report for Business and Economics, 7/1/99)
Top Economic
Events of the Twentieth Century—The Dismal Scientist http://www.dismal.com/top25/introduction.asp
The Dismal Scientist is commemorating the year 2000 with a
look back at the top economic events of the 20th century. The editors have
ranked their picks of the top 25 economic events of the past 100 years, according to
criteria including the nature of the event, how it affected the US economy, and the
long-term effects of the event. Each event is linked to a short article about its economic
impact. The Dismal Scientist has also included a form for its readership to submit events.
(Scout Report for Business and Economics, November 4, 1999)
Ultimate Mutual Fund
Guide 1997--Money Magazine
pathfinder.com/money/funds/
Take the Ultimate Mutual Fund Guide's literacy test and see how much
you know about investing. A good test for aspiring merchant adventurers (I scored an
80%)
Union Pacific Railroad History
http://www.uprr.com/uprr/ffh/history/
Created in 1862 to construct half of the first
transcontinental railroad, Union Pacific (UP) became one of America’s leading
railroads, hauling passengers and freight through some of the most rugged and scenic
regions of America. Anyone with an interest in American railroads, from hardcore
trainspotters to the mildly curious will enjoy this site, which celebrates UP’s long
history with short texts and a plethora of photos and images. Users can read about the
caboose and passenger trains, learn about historic UP yards and shops, and review several
chronologies. The heart of the site, however, is the photo gallery, which features images
of historic advertisements, structures and yards, nineteenth-century stereo views, scenic
locations, and a large number of trains (steam and diesel) in action. Take ride on the
rails. [(Scout Report 5/21/99)
Victorian
Economics
http://www.stg.brown.edu/projects/hypertext/landow/victorian/economics/econov.html
Part of the Vicorian site at Brown University. You can
access documents by economics of the period including Adam Smith and David Ricardo, along
with critiques of industrial capitalism. You can even find a definition
of capitalism.
Virtual Maritime
Museum
http://mmbc.bc.ca/source/schoolnet/
This is one of those gems of a site you run into almost by
accident on the Web, and is an excellent supplement to Chapter Three of Global
Problems and the Culture of Capitalism, on the historical construction of the
capitalist. The site was created by the Maritime Museum of British Columbia and has
three basic areas labeled ADVENTURE
, EXPLORATION,
and COMMERCE.
Much of the site details the history of trade in the Northwest coast of North
America, but there is also a feature on the history of trade ,
and the trade routes
for commodities such as salt, gold, silk, spices and porcelain.
Young Investors Network
www.smithbarney.com/yin/
Nothing like getting kids involved as merchant adventurers
and capital controllers as soon as you can. This site, dedicated to teaching kids
about investments, is maintained by Salomon, Smith, Barney Investments, even has an
investment contest. The main site will allow you to register as a guest or client,
and purchase stocks and set up your own portfolio.
Washington
Post Special on Trade Policy
www.washingtonpost.com/wp-srv/politics/special/trade/trade.htm
Check out the latest news on free trade agreements and
policies.
What
is a dollar worth?--FRB MPLS [JavaScript]
woodrow.mpls.frb.fed.us/economy/calc/cpihome.html
Are you curious how much your dollar of today would have
purchased ten years ago? Or perhaps 50 years ago? You can find out here.
The site is focused around the Consumer Price Index, that is "the
ratio of the value of a basket of goods in the current year to the value of that same
basket of goods in an earlier year. It measures the average level of prices of the goods
and services typically consumed by an urban American family."
Whole Cloth: Discovering
Science and Technology Through American Textile History—SI NMAH [frames,
Quicktime, JavaScript]
http://www.si.edu/lemelson/centerpieces/whole_cloth/
In Global Problems and the Culture of Capitalism,
we discuss the role of textiles in the expansion of capitalism, and its subsequent
impact on the rest of the world. "The Society for the History of
Technology (SHOT) has released three units of an eight-unit interdisciplinary curriculum
that examines 'the history of textiles, the technology and science of production, and
their consumption' for American history or social studies courses in middle and high
school. Included among the goals for this curriculum is a 'hope that teachers and students
will learn more about technology and invention, about American history, and about how
women and people of color interacted with technology throughout history.' Each unit
contains hands-on activities and handouts for students, lesson plans and notes for
teachers, glossaries, and bibliographies." (The Scout Report, 11/13/98)
World Bank Annual Report 1999
http://www.worldbank.org/html/extpb/annrep/
"Fiscal year 1999 (FY99) was a year of continued—and formidable—
challenges," begins the World Bank Annual Report 1999. It goes on to list the
financial crises in Brazil, Asia, and Russia and the natural disasters that struck the
Caribbean, Asia, and Central America. And through it all, the World Bank was there. This
report charts global economic progress and explains the World Bank’s involvement in
many aspects of the world economy. Broken into smaller reports, World Bank’s annual
report looks at the surprising rise of poverty, the issues surrounding Y2K and banking
assistance, and the progress in anti-corruption efforts, among other issues. Also included
are letters from the chairman, highlights, and summaries of improved projects. (Scout
Report for Business and Economics, 10/7/1999)
World Competitiveness
On-line
www.imd.ch/wcy_over.html
One of the point made in Global Problems and the Culture
of Capitalism is that capital is attracted to environments (regions or countries)
that least restricts its ability to reproduce. Environments that best allow
enterprises to externalize costs are often called "more competitive" than
others. At this site maintained by the International Institute for Management
Development, you can discover the ranking of 46 countries according to how easy or
difficult it is for enterprises to profit. Check out the current rankings.
World
Economic Outlook Interim Assessment--Crisis in Asia: Regional and Global Implications
www.imf.org/external/pubs/ft/weo/weo1297/index.htm
World Economic
Outlook (WEO) -- IMF [.pdf] http://www.imf.org/external/pubs/ft/weo/1999/01/index.htm
WEO Database [.csv] http://www.imf.org/external/pubs/ft/weo/1999/01/data/index.htm
"The International Monetary Fund (IMF) has
recently released the May 1999 issue of the World Economic Outlook (last discussed in the
January 15, 1999 Scout Report), a biannual assessment of the world economic situation.
Overall, the IMF predicts a few years of slow growth, but no dramatic global recession.
The full text of the 255-page report is available in .pdf format in six parts at the IMF
site. Users can also access the WEO Database, which contains data in nine categories in
comma delimited, .csv text file format. Explanatory notes on each data set and tips on
viewing and saving data tables are provided." (The Scout Report, 4/2/1999)
World Economic Outlook
(WEO) -- IMF [.pdf]
http://www.imf.org/external/pubs/ft/weo/1999/02/index.htm
This semi-annual comprehensive survey of the outlook of the world economy, from the
staff of the International Monetary Fund, looks at world economic developments and future
prospects. WEO considers the challenges of global adjustments in areas including the
Middle East, Asia, and Europe, as well as the emerging market economies. Each chapter
needs to be downloaded separately in .pdf format. This report also links to the new WEO
Database. (Scout Report for Business and Economics, 10/7/1999)
World
Economic Situation and Forecast for 1999 [.pdf, 61p.]
http://www.un.org/esa/analysis/wesp99.pdf
Produced by the UN Department of Economic and Social Affairs (ESA),
this new report offers a review of the worldwide economic situation in 1998 and a forecast
for 1999. Offered in .pdf format, the report contains a global overview and six chapters
analyzing Developed Economies, Economies in Transition, Developing Economies,
International Trade, Financial Markets, and Official Development Finance and Debt. Eleven
statistical tables are also provided. (Scout Report, 4/2/99)
World Trade Organization (WTO)
www.wto.org/
The WTO is the direct descendent of the Global Agreement on
Tariff and Trade (GATT) that emerged from the Bretton Woods accord of 1944. The role
of the WTO is to regulate world trade and rule on trade disputes between countries.
The WTO is often criticized for favoring the interests of capital over the interests of
labor or the environment. You can find the various provisions of WTO agreements and
decisions at this site.
- World's
Richest People--Forbes
- www.forbes.com/tool/toolbox/billnew/1998.asp
Who do you think the richest people in the world are?
Where do you think they are from? Where did they make their money? As you
explore this site, remember that the financial assets of the people listed are greater
than the financial assets of most of the countries of Africa and South America,
combined. You can also check back to se how the list of richest has changed over the
past three years.
- "Working
Rich"--Forbes Global
- www.global.forbes.com/forbesglobal/98/0706/0107035a.htm
Check out this site and meet "200 billionaires, who are
still building their fortunes—or are working brilliantly with what they've inherited.
The poorest is worth $1.5 billion."
Worth Online’s Top 50 CEOs
http://www.worth.com/articles/Z9905C02.html
The financial magazine Worth Online ranks American CEOs at
this Top 50 site. Each listing consists of an in-depth profile including anecdotes on CEO
success and tidbits such as favorite book, type of car driven, and number of social
functions attended each week. 1999 winners include Dell Computer head Michael Dell and
Amazon.com’s Jeffrey Bezos.
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