Job application letter( cover letter) Essay Example | Topics and Well Written Essays - 250 words

Job application letter( cover letter) - Essay Example This presented me with the chance to implement my educational acquired skills to action and operation. I am positive the skills and experience I acquired at Starbucks will be of great help to your organization. I will ensure that I perform at my best level and use my profession experience to enhance the operations of your company. Apart from marketing skills, I acquired leadership traits. I was head of the junior staff in the organization. While studying business I ventured my interest in learning marketing and advertising. I acquired the necessary skills to enable me to be a part of any marketing or advertisement strategy. Offered the opportunity I would offer my expertise to your organization. I would greatly and effectively apply my educational experience in marketing to promote the effectiveness of marketing in your organization. Working at Starbucks gave me a real picture of working in the corporate environment. I acted as a part time marketing officer. Additionally, I represented a junior department in the organization which gave me a chance to acquire leadership

Introduction to Supply Chain Management Essay Example | Topics and Well Written Essays - 2000 words

Introduction to Supply Chain Management - Essay Example They claimed that the quality of the parts they have been receiving from the outsourcing company were not up to standards. Inventory was then packed with products that were no longer of use to Boeing, losing them millions of dollars. Further investigations revealed that the outsourcing company wasn’t being watched over as closely as the engineers and companies throughout the country. Boeings main reason for outsourcing revolved around revenue purposes. The report finds that inventory product quality, as well as quantity supply is crucial within organizations and can cause a lot of problems if not watched and dealt with carefully. It is recommended that: the battery is dramatically improved by watching the quality of the parts inserted; Boeing launch and promote a campaign assuring non-faulty batteries; and resumes are looked over again by company officials. The limitations that may occur are that a product such as an airplane may require off shoring because some expertise exists only in foreign countries. Also, while there is nothing necessarily wrong with off shoring, the cultural and language differences as well as physical distances can add to the supply chain risks. Boeing is one of the major companies in the world that manufactures defense and commercial jetliners and security and space system. The company is faceted into two major business entities: the Boeing Space and Security and the Commercial airplane (Hiltzik, 2011). In addition, its other products are electronics, weapons satellites, defense system, military aircraft, systems of information and communication that are advanced et cetera. The company is not only one of the leading exporters of the US but also have connection with customers in the various countries of operation (approximately more than 150 nations). The company’s headquarters is in Chicago and it provides employment opportunities to approximately 180,000 individuals in the US and other nations

Downsizing and Globalization Essay Example | Topics and Well Written Essays - 3000 words

Downsizing and Globalization - Essay Example This paper presents a critique of the globalization and downsizing, and the reasons why organizations engage in these strategies. Downsizing Strategy Downsizing is a management strategy that involves reduction of an organization’s labor force as a result of corporate restructuring that is focused on maintaining competency in a highly competitive environment. Mergers and acquisitions are among the significant drivers for downsizing. For instance, the acquisition of PeopleSoft by Oracle led to a reduction in the number of employees by 5,000 in a bid to increase efficiency in the new organization. PeopleSoft’s revenue had been declining as a result of the economic crises that significantly affected the profitability of UK firms in 2007 (Blackburn, 1999). However, mergers and acquisitions may necessitate downsizing due to duplication of roles among employees from the merging organizations. The dominant organization tends to retain a greater share of its human resources whil e selecting few employees from the other organization, mainly those with specialized skills that may help in maintaining competitiveness (Kothen et al. 1999). Revenue management is focused on maintaining high revenue while keeping costs at the lowest level possible. Downsizing is among the key strategies for revenue management since organizations find it easy to reduce the workforce and utilize the remaining employees maximally. The operating environment is under constant changes that may affect an organization’s profitability if drastic measures are not undertaken. For example, globalization of industries has increased competition as foreign firms establish subsidiaries globally. Local industries in the global economies are faced with challenges with regards to product quality and production costs. For example, Spar (2003) observes that the cost of labor in China is low compared to some developed economies such as US and the UK. Foreign companies have therefore established s ubsidiaries in China where they produce at lower costs and then sell their products to other economies where the cost of labor is high. This trend has significantly affected industries operating in such economies since they have to minimize spending on labor to effectively compete with organizations that have taken advantage of the Chinese labor market. They have been compelled to lay off workers as well as calling for early retirement (McCann et al. 2008). Technological advancements have significantly influenced the need for organizations to downsize. Organizations engage in innovations to maximize production and increase efficiency. However, some innovations reduce labor-intensive work thereby reducing the need for workers. For example automation of processes increases speed and efficiency in production compared to human labor. Moreover, the recurrent expenditures of maintaining human resources are avoided since the machines require an initial capital outlay and occasional mainten ance. Many organizations globally downsized after introducing computers in their processes. This was a significant development that increased efficiency and accuracy in record keeping as well as service delivery to customers (Froud et al. 2000). Efficiency improvement involves reduction of the excess workers that perform tasks which have little contribution to the organization’

Chapter 3 of Bhagavad Gita and Purusha Sukta Essay

Chapter 3 of Bhagavad Gita and Purusha Sukta - Essay Example â€Å"The Way of Action† shows the state of mind of Arjuna in dealing with the dilemma of choosing between accomplishing his duties as a warrior to fight his own people and his love for his relatives. He seeks the answer to his problems with Lord Krishna, questioning Him why one should engage himself in an action which will cause so much chaos to human lives. In the end, Lord Krishna let Arjuna understand about the duties of each individual to his own self, to his family and to the society (Schweig 57-58). An individual cannot achieve freedom from action without entering upon action. He cannot reach perfection as well by just renouncing a certain action. Everyone is driven to action instinctively and so he must perform his duties for action is better to inaction. These various levels of duties of man comprise the essence of Karma Yoga. Karma, or action, aims that a person should â€Å"attain a stage where any action is not bound by desire for results† (Varma). With this , one must not control the indrivas by will; instead remain unattached to the results in order to perform selfless action. By doing work without attachment, a man attains supreme bliss. For example, the Karma followed by the head of the household in different levels of society is that he is a husband to his wife, a father to his children, and also a boss to many employees working with him, all at the same time (Varma). Yagya or sacrifice is another theme of the third chapter of â€Å"Bhagavad Gita†. Lord Krishna teachers Arjuna that mankind will prosper only when he learns how to give. Man is bound by the actions that he performs unless he does them as a sacrifice (Schweig 59-60). For instance, Lord Krishna by virtue of his holiness has no duty to perform but he chooses to work so that man can achieve a level of spirituality by following his examples. In one of the verses, Arjuna asks Lord Krishna how man commits sin, to which Lord Krishna answers that it is because of desire , for desire lives in the senses, mind and intellect. For a man to attain knowledge, he must control his senses with his mind through his intellect so that desire can be overcome and therefore attain knowledge. Thus, a worldly-minded man is self-centered while a man enlightened with Karma Yogi has overcome self-centeredness and strives to work for the benefit of all (Varma). The essence of the teachings of Lord Krishna and his universal form as exemplified in â€Å"Bhagavad Gita† closely resembles to that of the Purusha Sukta. Like Bhrama in the Upanishads, Lord Krishna was identified in Gita with eternity so that his intransience can be attributed in his divine role as the regulator of human society. According to Bandyopadhyaya (91), â€Å"the ideological objective was the same as that of the Purusha Sukta and Advaita philosophy, namely to rationalize, legitimize and sanctify the prevailing class-caste in the face of the developing contradictions within that structure.† Lansdowne (15) defines Purusha Sukta as â€Å"

Different sectors and their current performance Essay

Different sectors and their current performance - Essay Example United Kingdom’s construction sector is important for the country’s economy and has a number of services,products and technologies. These differ in economic value realized from them relative to their varied outputs regarding skilled and unskilled labor, knowledge, raw materials, intangible investment and raw materials. It must also be noted that the construction industry in the UK has been growing in terms of maintaining, designing and developing, operating and repairing of buildings (CIB, 2010). These and more are captured in this paper which looks into five key sectors in the UK construction industry. Private house builders Private house builders in the United Kingdom normally raise money to put up buildings and projects. They are then paid by their clients or the government upon completion of the projects but with interest (CLG, 2010). The payment is distributed evenly over a given contracted period of time when the building process runs. Their roles comprise buildin g of houses, large buildings, estates as well as developing structured facilities for example manufacturing buildings. They are mostly associated with cheap labor which they employ in the building process while at the end of the day they reap huge sums of money in return which guarantee them huge profits. Some of the activities which are presently being worked on by private house builders include putting up of a 75-storey Hertsmene House on the Canary Wharf and building up of residential houses in new towns (CIMR, 2003). This housing project is set to take three years and its benefits are projected to boost the country’s economy. This will be in terms of investment prospects which have since been defined and planned for the building once it is complete. Social house builders UK has in the recent past had an increased rate in worker housing needs hence calling for new developments to build houses for workers (BIS, 2012). Social house builders are concerned with such building d evelopments in which they are charged with the task of building worker houses. This considers costs for constructing the houses which are usually a target of low cost ownership of homes for workers. There are quite a number of social house builders whereby some work as single entities while others work in partnerships. This has also led to emergence of associations for housing projects and at least 5000 new homes are said to be in the process of being constructed at the moment (Leftly, 2010). These are projected to take approximately a year and are set to benefit the worker community especially in relieving them from the strain of house seeking at convenient places. Social house builders understand the specific needs and requirements which are associated with affordable housing constructions. This is mainly with regards to housing designs and building approaches employed in building the houses. Social house builders are always focused on benchmarking their present position while als o look into ways of improving their building performances (UKCES, 2012). They are also keen to offer affordable housing and help in addressing particular needs of people relative to culture, security, language as well as accessibility to services. Private commercial builders Output of commercial building process in the UK has off late been noted to account for 18 per cent of all the work associated with construction industry (UKCES, 2012). Private commercial builders has however, been on the rise in the country with most of them targeting construction in various areas. They have been into construction of residential buildings whereby new building projects, renovation works, home improvements and extension projects have been part of their dealings. They have also been into commercial construction projects both in the public sector and private sector. Their main concentration has been construction of both commercial and residential build

Globalisation Coursework Example | Topics and Well Written Essays - 3000 words

Globalisation - Coursework Example Globalisation ushered the unavoidable priority to comply with market forces, when compared with complying with the local government’s economic prerogatives (Barrera, 2008). The ethics of the global economy forces local governments to bend to the strong pressures of the global environment to come to terms with the global marketplace economic agreements (Ervin, 2008). Likewise, a company that is located in the United States can sell similar products to current and future customers located in Japan, Korea, or Singapore, without fearing globalisation’s business climate change (Greenwald, 2008). In addition, a company that is located in Argentina can send its products to current and future clients located in the United Kingdom (Homann, 2007). The above discussion clearly shows that the risk of not finding current and future customers for the company’s products is reduced. The opening up of the global marketplace to a company located in any part of the world reduces th e risk of not generating the company’s required revenues. Globalisation reduces Expense Risks Globalisation has leveled the playing field, in terms of generating expenses. ... In addition, the hammer manufacturing company located in Poland can purchase its quality manufacturing raw materials from a supplier located in Sweden (Bella, 2009). An apparel making company that is set up in Peru can buy its clothing raw materials from preferred current and future suppliers located in Dubai (Marmolejo, 2012).The above discussion offers convincing proof that globalisation drops the related risks of not finding current and future suppliers for the company’s raw materials. Changing from dealing with only the local community’s current and future suppliers to the bigger global list of current and future suppliers decreases the company’s risk of not finding available raw materials. Globalisation reduces Profit Risks Globalisation has leveled the playing field, in terms of generating profits. A research shows that many countries have benefitted from their embracing the global business environment. Some of the countries that benefitted from globalisati on include East Asian nations, India, and China. Later, some African countries joined the globalisation bandwagon. The global business market segment triggers corresponding both positive and negative effects on the nations’ local industries (Das, Another Perspective on Globalisation, 2010). A book publishing company that is set up in Russia can profit from selling its books in Vietnam’s bookstores, in compliance with the states’ liberal minded political leaders’ penchant to enter the global business stage (Blum, 2008). A food company that is located in New Zealand can dependently profit from exporting its products to Australia (Lane, 2008). A car manufacturing company can profit

The Great Depression - Main Causes Essay Example for Free

The Great Depression Main Causes Essay Introduction Like us, many of you had a loved one that lived during the Great Depression. Many of us have heard stories from our parents or grandparents of the horrific times of the depression; stories that told us how hard it was to find a job, put food on the table, and to provide shelter for the family. Learning how to live without things was a battle all by itself. Hearing the stories made me grateful to be born in a different era. However, each era has its own battles to fight that will change the direction of the economy and maybe the world. Many people feel that we are in a depression. Unemployment rising, business closing its doors, and poverty in the United States on a rise, would make you think that we are in a depression. However, after careful research from articles, books, videotape, and previously conducted surveys, on the main causes of the depression, we realize that the recession that we are in is far from the Great Depression. Our research also uncovered the impacts of the depression that played a role in reforming the economy. Also, our research will show us how Franklin D. Roosevelt solved the depression and got the economy rolling again. Finally, there were many lessons learned by banks, business owners, and the government. We hope that the details of the Great Depression will enlighten you with comparisons on our current recession. Main Causes The main causes for the Great Depression were a combination of unequally distributed wealth, the stock market crash, and eventually the bank failures. The unequal distribution of wealth existed on many levels. Money was distributed unequally between the rich and the middle class, between industry and agriculture within the US, and between the US and Europe. This imbalance of wealth created an unstable economy. The excessive speculations kept the stock market artificially high, but eventually lead to large market crashes. These market crashes, combined with the unequal distribution of wealth, and bank failures, caused the American economy to collapse. The distribution of national income became increasingly skewed in the 1920s. The nations total realized income rose from $74.3 billion in 1923 to $89 billion in 1929. However, the prosperity was not divided evenly amongst all Americans. According to a study done by the Brookings Institute in 1929, the top .1% of Americans had a combined income equal to the bottom 42%. That same top .1% of Americans in 1929 controlled 34% of all savings, while 80% of Americans had no savings at all. While the disposable income per capita rose 9% from 1920 to 1929, those with income within the top 1% enjoyed a staggering 75% increase in per capita disposable income. A major reason for this gap between the rich and the working-class people was the increased manufacturing output through this period. Thus, wages increased 25% as fast as productivity increased. As production costs fell quickly, wages rose slowly, and prices remained constant. In fact, from 1923-1929 corporate profits rose 62% and dividends rose 65%. The large and growing gap in wealth made the US economy unstable. For an economy to function properly, total demand must equal total supply. In the 1920s there was an oversupply of goods. It was not that the surplus of products was not wanted, but those who really needed them, could not afford them. The federal government also contributed to the growing gap between the rich and middle-class. Andrew Mellon, Coolidges Secretary of the Treasury, was the main force behind tax cuts that lowered federal taxes such that a man with a million-dollar annual income had his federal taxes reduced from $600,000 to $200,000. Our textbooks would indicate that the purpose behind this would be that $400,000 would be spent, thus stimulating the economy. Instead, they invested it into the stock market, and lost everything. The federal government favored the new industries (radio and automotive) as opposed to agriculture. During World War 1, the government subsidized farms and paid higher prices for what and other grains. Because the government was feeding the US and Europe, they encouraged farmers to buy more land, invest  in modern methods, and to produce more food. However, when the war was over, the US stopped helping farmers. During the war, the government paid $2 a bushel for wheat, but by 1920, wheat prices fell as low as 67 cents a bushel. Farmers fell into debt; farm prices and food prices tumbled. The federal government left American farmers in the cold. The problem with having large concentrations of wealth and dependence upon two industries is the economy relies on those industries to expand, grow, and invest in order to prosper. At the time, the main problem with the automotive and radio industries was that they could not expand because people could and would only buy so many cars and radios. When those industries went down, they took the American economy with them. In 1929, 1,124,800,410 shares were traded on the New York Stock Exchange. From 1928 to 1929, the Dow Jones Industrial Average rose from 191 to 381. This profit was attractive to investors. Company earnings were not important as long as stock process continued to rise, and huge profits could be made. Through the convenience of buying stocks on margin, one could buy stocks without money to purchase them. By mid 1929, the total of outstanding brokers loans was over $7 billion, in the next three months, that number would increase to $8.5 billion. Interest rates for brokers loans were as high as 20%! Prices had been dropping since September 3, 1929, but people were still optimistic. Hopeful investors continued to flock the market. Then on Monday October 21, 1929, prices started to fall quickly. The volume was so high that the ticker fell behind. Finally, investors were afraid! Knowing that prices were falling but because the ticker was behind, they could not tell how far they had fallen, so they started to sell quickly. This caused the collapse to happen faster. The market stabilized for a few days, and then on Monday October 28, 1929 prices started dropping again. By the end of the day, the market had fallen 13%. On Black Tuesday, October 29, 1929, 16.4 million shares were exchanged. Although many were disturbed by the stock market crash, few realized that the  Great Depression was ahead. The Bank Failures would make the near future of the US economy clear. Trying to benefit from the investment boom, like many investors, banks tied their money (customer deposits) up in the stock market. When the market collapsed, brokers began calling in margin accounts, many banks were forced into bankruptcy closing their doors to depositors. Failures of individual banks generated runs on other banks as depositors became nervous about the security of their accounts. A high rate of insolvencies hit the banking industry and the nations stock of money in circulation plummeted. These developments prompted a rapid tumble of the GNP that was the defining characteristic of the Great Depression. This speculation and the resulting stock market crashes, acted as a trigger to the unstable US economy. More jobs were lost, more banks went under, and more factories closed. Unemployment would grow to almost 13 million by 1932. The Great Depression had begun. Impact of the Economy There were many psychological, cultural, and political repercussions of the Great Depression. These impacts played a major role in reforming the American economy for the future that was to come. During the horrific times of the depression, everyone in America got a glimpse, whether short or prolonged, to how the United States would be under an economic crash. As you can see from the main causes of the depression, numerous amounts of people lost their jobs, the prosperity rate significantly increased, businesses failed, and the overall condition of America was faced with pure turmoil and suffering. Among each major impact that the depression had on the American economy, the most extravagant circumstance was the rapid decrease in overall business. For instance, there were more than 100,000 businesses that failed as an impact of the depression. By 1933, more than 5,000 banks had failed. Not  only did this affect the government, but the general public and the entire economy felt the hit also. Within every bank that closed, there were public savings and checking accounts that were also demolished. With no type of security in place to protect their investments and or savings, peoples money and sometimes even life savings, were gone. This decline created a continuing affect that spread throughout the economy. As a result, the national income fell by 54 percent. Close to 90 percent of industrial production ceased. The foreign trade decreased by 70 percent, and new investment in plants and equipment had plummeted by 98 percent. Hundreds of thousands of home and farm mortgages foreclo sed, and there was no decent food, clothing, or shelter to be purchased. Obviously, due to the circumstances, business was put on hold for what seemed like forever to the American economy. Consequently to the many business failures that occurred during the depression, along with the steadily decreasing income and tremendous rise in unemployment, many people were forced to live in horrible, strict, confined, and discouraging circumstances. People were living on the streets of America striving to survive. As a result, starvation and malnutrition was a major factor that affected the general public. Thousands of people starved in the streets while unsold food piled up or went bad on the nations farms, due to the need for profit. More than 2 million Americans moved from cities to farms in the hope of being able to at least feed themselves. Despair overcame millions of people who survived the distress but could not find work for months or even years. Others were forced to work in fields in order to make the little money they could. Family tensions increased as many people lacked jobs, resulting in a major increase in mental health problems, and family violence. The loss of money and personal belongings resulted in the number of relatives in one household or apartment, doubling within a short amount of time. These situations developed very confined living conditions resulting in unhealthy and unhappy circumstances. Many children had to leave their schools because they lacked clothing or the local school boards simply could not afford to maintain buildings or pay teachers. Children were forced to provide for themselves,  and their family. Uncertainty and unhappiness increased over the years. The overall living conditions of the depression were very unstable and unsatisfying to the American public. Feelings of distrust towards the government and the economy emerged from every single individual. The depression had a major impact on not just the current situation, future thoughts and actions were affected as well. Along with distrust from the public towards the economy, grew an extreme realization of poverty and distress for American society. The experience brought about a change in the viewpoints toward many aspects of life and business. Everyone was forced with making critical decisions that would forever change life situations. Ultimately, there was not one industry, bank, agricultural, or government aspect that was not noticeably affected by the depression. The impacts were felt at home in our society as well as across seas in other countries. Everyones living standards and situations suffered due to the depression. There was no true understanding of how these circumstances could have begun, and no knowledge of when it would end. Solving the Depression During the early years of the depression in the United States of America, President Herbert Hoover and his administration believed, as did many bankers, economists, and financial leaders, that left alone, the economy would eventually right itself. Business leaders operating through the spirit of competition would restore Americas prosperity and economic vitality. When the economy, during the depression, did not improve during Hoovers administration, Americans began looking for a new leader, a leader who would take decisive action against the economy. The people found a new leader in Franklin D. Roosevelt in 1932, when they elected him president in a landside election. Roosevelt believed that the federal government should take bold steps to improve the economy. He blamed financial leaders and big business for Americas economic (depression conditions) and recommended government regulation of banks and industry. President Roosevelt had many accomplishments during his term of president during the time of the depression. Some of his accomplishments were:  ·Social Security Act provided for state-administered, federally funded unemployment insurance, welfare benefits, administered old age, and survivors pensions. Prior to this passage few states provided old age pensions and un-employment insurance.  ·Relations Act (Wagner Act) gave new life to the National Industrial Recovery Act. That act gave workers the right to collectively bargain and established the National Labor Relations Board to supervise union elections and investigate unfair labor practices by companies.  ·Revenue Tax Act increased income taxes on the wealthy and on corporations.  ·Banking act of 1935 gave the federal government additional control over the Federal Reserve System.  ·Public Utility Holding Company Act placed power, water, and other utility companies under the regulation of the newly created Securities and Exchange Commission.  ·The Farm Act came in three stages. First the administration was empowered to adjust farm production to effective demand as a means of restoring the farmers purchasing power. Second was an accompanying authorization to refinance and readjust farm mortgage payments. Third the part of the act was the power for controlled inflation.  ·Emergency Farm Mortgage Act (1993) funded loans for farmers in immediate danger of losing their farms.  ·Wagner-Steagal Housing Act gave 500 million in loans for low-cost housing.  ·Youth Administration was established to equalize opportunity for youth. It  was setup to give economically disadvantage youth opportunities that were previously denied them.  ·Tennessee Valley Authority Act Aubrey Williams stated Major Problems in the Rehabilitation of the South, address to the Southern Tenant Farmers Union and the United Cannery, Agricultural, Packing, and Allied Workers of America, Memphis, Tennessee, September 26, 1937. This act provided federal funding for the development of the Tennessee Valley.  ·Rural Rehabilitation Division of FERA later called Resettlement Administration funded work-study jobs, teachers salaries, free lunch program and construction of new schools.  ·Works Relief Act provided immediate increase in employment and corresponding stimulation to private industry by purchase of supplies.  ·Works Progress Administration (WPA) put 3.5 million jobless Americans to work on roads, parks, and public building. Moreover, the WPA provided jobs for artists, writers, musicians, and authors as well as laborers.  ·National Recovery Act encouraged business leaders to work together to create codes that would control wages and prices.  ·Gold Reserve Act was signed on Roosevelts birthday. This gave the Treasury greater control of credit and currency. In 1933, Roosevelt pushed toward a three-month period called Hundred Days when Congress enacted the most sweeping program of reform. Fifteen major laws went on the books; they dealt with banking, the gold standard, relief, mortgages, hydroelectric power and regional planning, the stock market, and reorganizing industry and agriculture. Roosevelt throughout his term during the depression years encouraged cooperation and optimism with his speeches, fireside chats, and press conferences, which made a powerful impression on many Americans. Lessons Learned The Great Depression caused enormous hardship for virtually the entire industrialized world. As we look back over the many causes of the Great Depression, there were many lessons to be learned. The depression started because of the unequal distribution of wealth and the extensive stock market crash. The economy was affected by the failure of a large portion of the nations banks, businesses, and farms. There were many lessons learned in the financial aspect of the depression. First, there was massive government protection to banks in the form of the Reconstruction Finance Corporation and the Federal Deposit Insurance Corporation. This was brought on by the turmoil that was felt in the banking sector. By implementing government protection the banking institutes were insured against withdrawals and the suspension of convertibility. In addition, the Federal Deposit Insurance Corporations main benefit was having the central bank as the ultimate guarantor of the insurance system. As a result, during a pending financial collapse the bank removes any element of discretion about the behavior of its policymakers. Therefore, the central bank learned lessons regarding the function of the lender of last resort for short-term stabilization of the financial system. The reasons that stemmed government protection was noticeable bank weakness, poor depositor discipline, the unwilling of private associations to protect solvent banks from the threat of unwarranted runs, and the favorable agreement to have deposit insurance on economic grounds. Second, there was failure of the interwar gold standard. There were certain countries that caused the world money stock to decline substantially and rapidly. This brought about the fixed exchange rates and full currency unions. The gold standard of the interwar was referred to as a gold exchange standard and its main purpose was to establish and maintain a system of fixed exchange rates. Third, there was international trade and tariffs. Trade and payment policies were becoming very close and began to intertwine. In addition, when tariffs began they usually ended with trading blocs, bilateralism, and exchange controls. The lesson learned in this situation implies that deflation effects international trade through its impact on the real value of tariffs. Another lesson learned involved worldwide catastrophes. There was the use of cheap foreign labor to lower cost and improve profits, which drove imports of foreign made products and pushed labor offshore. There was a decline in domestic employment and it intensified the problems of the depression to the point in which caused a backlash. Then that is when the start of labor-union protectionism began. The lesson in this situation indicated that the 1930s protectionism assisted in the destruction of globalize. Eventually, the depression transformed national politics by vastly expanding government, which was increasingly expected to stabilize the economy and to prevent suffering. In order to create a stabilized economy, new plans, and policies for Social Security, unemployment insurance, and federal family assistance were established. In sum, the Great Depression was caused by the stock market crash, in which led to a poor banking system, causing low interest rates, brought on by an ineffective Federal Reserve policy. Therefore, knowing and understanding these lessons listed and many others, it is safe to say that as far as our current policies today, deflation is extremely costly and a gold standard is very dangerous. Conclusion The experience of the Great Depression brought about change in how we conduct business. For many people the depression brought on distrust in banks and our government; a trust that our government set out to regain in many years to come. Our government implemented federal laws and banking regulations  that would stabilize the economy for many years. Reorganizing industries, the stock market, and agriculture provided stability that lead to trust. Each era has had its own battles that has shaped and reshaped America into what it is today. Learning from battles such as racism, terrorism, and recessions will continue to form America into a better place. Works Cited Bender, David L. The Great Depression Opposing Viewpoints, 1994 Greenhaven Press, Inc. San Diego, CA Gerdes, Louise I. The Great Depression, Great Speeches in History, 2002 Greenhaven Press, Inc. San Diego, CA Gustmorino, Paul A III. Main Causes of the Great Depression. Gusmorino World. May 13, 1996. Online. James, Harold. The End of Globalization: Lessons From The Great Depression. Cambridge; London: Harvard University Press, 2001 Jeffries, John W., Nash, Gary B., Segrue, Katherine L., The Great Depression and WWII, 1929-1945. Encyclopedia of American History. Kutler, Stanley I. Dictionary Of American History. Third Edition. Charles Scribners Sons, Inc. May 2003. Kutler, Stanley K., Dallek, Robert, Hollinger, David A., McCraw, Thomas K., Kirkwood, Judith. The Great Depression, 1929-1939. Encyclopedia of the United States in the Twentieth Century. Volume III. Watkins, T.H. The Great Depression America in the 1930s. New York: Little, Brown and Company, 1993.