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I rose early on the morning of June 1, 2010 to leave for my drive to Madrid from Salamanca. I had lucked out with another gorgeous day and drove eastwards through the Spanish Meseta and over the Sierra de Guadarama Mountains into the capital Madrid. After a fairly easy search I was able to locate the airport and return my rental car shortly before noon. At the airport tourist information booth I asked about how to get to my hotel on the Gran Via and was given the explanation that I just had to catch the subway, change once at the Nuevos Ministerios subway stop and then exit at Plaza de Espana, one of Madrid’s most important squares. I was able to find my hotel quite easily: the Alcazar Regis is a simple 2-star property right on the Gran Via, Madrid’s most impressive grand boulevard. What surprised me is that the hotel was located on the fifth floor of a building as part of a former apartment. It features 14 bedrooms and mine was a simple, single room with ensuite bathroom, a perfect base for me two days in Madrid. After I had gotten settled I headed back out into the city and to get a lay of the land I embarked on one of the popular hop-on / hop-off double-decker bus tours called Madrid Vision. I figured this was one of the best ways of getting an overview of the city. Sure enough, our tour covered all of Madrid’s major sites: Plaza Espana, Palacio Real, Plaza Mayor, Puerto del Sol, Calle de Alcala, Gran Via, Paseo del Prado, Museum Row (Prado, Thyssen-Bornemisza, Museo …

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Here is some more footage of the volcano that was responsible for hundreds of grounded flights. The Icelandic volcano Eyjafjallajökull is breathtaking to see in person, and we were able to take a helicopter to tour the area where the eruption occurred. This footage was taken on April 19, 2010 by Auto Europe.

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Want to live off your land? More people are pursuing a lifestyle of self-reliance, depending upon themselves for their food and making a living by homesteading. If you long to get off the office treadmill and onto your own land, here are fifteen crucial steps you should take to pursue your life of freedom:

Get out of debt

As any farmer will tell you, unless you own a corporation with hundreds, if not thousands of acres, you won’t make a fabulous income living off the land. Those farmers who do own hundreds of acres and thousands of dollars worth of equipment (along with the mortgages to prove it) are struggling to get by. The secret is to live simply and downsize. Sell that newer car with those high car payments and buy a used model, preferably with no payments. Stop eating out as much and use that extra money to pay off your loans.

Get some land

You don’t need hundreds of acres, but if you want to live off your land, you will need at least five. You will want enough space for a good sized garden, along with some farm animals. Live in town? Consider selling or renting that house and buying a used manufactured home set on a small acreage instead. Many people do it and live quite comfortably – and debt free.

Learn to grow your own food

Put in a lot of raised beds and grow potatoes, carrots, tomatoes and other vegetables. Learn to preserve your food through canning, drying and freezing, so that you go to your pantry instead of the grocery store, cutting down on cost and time.

Raise chickens

These wonderful birds will supply you with eggs, meat, and even income if you raise enough of them. Fresh chicken eggs are easy to sell. These eggs are delicious, and if they come from chickens who have eaten mostly grass and insects – chickens who live in chicken tractors, for example – they are also far healthier and more valuable than the store-bought brand.

Get your goat

Goats will supply you with milk, meat and cheese. Control their diet – only hay and grains – and your goat’s milk will taste exactly like cow’s milk, only sweeter. Plus, many people are realizing the health benefits of raw goat’s milk, making it a marketable product. Get two or three female goats – or does – along with a billy goat, and you will have enough milk for your family and some extra to sell to cover your cost.

Diversify what you sell

Many people who try living off the land make the mistake of raising a single product in large supply and then selling it. But if the crop fails, then you are in trouble. Instead, raise a small supply of several items to sell. Sell chicken eggs and goat’s milk, honey and produce when it’s in season. That way if one item fails to produce, you have others to fall back on.

Avoid the exotic

A few years ago, raising ostriches were all the rage. At least they were until those raising them realized not many people are willing to eat ostrich meat. It is far wiser to stick with the standard fare – chickens, pigs, and beef, for example. Raising something unusual and hoping to get rich off it – like many get-rich-quick schemes -usually leaves you with an empty pocketbook and an animal nobody wants and you have to feed.

Raise only what you want to eat

This goes with the ostrich example above. If you don’t sell those hundreds of bushels of Swiss chard, then be prepared to eat them. If you don’t enjoy them that much, then don’t grow them.

Be prepared to learn a new trade

My grandfather was a plumber, and even during the depression, he prospered. During hard times, people might not need an insurance adjuster, but they will need someone who can fix their leaky pipes. Consider learning carpentry, electrical work or mechanics. Learn to make practical, useful items that you can sell or barter with.

Simplify

Do you really need three television sets? They use electricity even when they are not running. How about that 3,000 square foot home? Do you really need all that space, and all that clutter you accumulated to fill it? Learn to live on less. Cleaning and protecting all those things simply takes up precious time and money.

Give up driving

You won’t be able to homestead successfully if you are driving into town everyday for one thing or another. If you are a soccer mom and trying to homestead, you are going to become exhausted in a hurry. Caring for livestock is a full time job that requires you to spend a lot of time on your land. Plus, the gas and wear and tear on your car is expensive. If you don’t like staying at home, the homestead life may not be for you.

Don’t go it alone

Don’t try to homestead by yourself. Accidents can happen, and when you live in the country, there will be few neighbors who will hear you call for help. If you are single, consider finding one or two like-minded individuals who will room with you and share expenses.

Join a community

Find others in your area passionate about homesteading. Look for a local online group or start one. Go to your nearby feed store and see if they offer classes on animal husbandry. Sign up for an organic gardening class. All of these will get you in touch with people who can share information with you and who will encourage you.

Give back

Be willing to help those who are just starting out. There’s an old phrase that rings true: what goes around, comes around. Make certain that what goes around from you is positive, rather than negative.

Embrace hard work

The homestead life is wonderful, but it does involve a lot of hard, physical labor. You will be lifting hay bales, roping contrary critters and moving chicken tractors. I personally love the hard work (and the great sleep I get each night), but if you prefer a desk job, then naturally, the homesteading life probably isn’t for you.

Think you can do these fifteen things? Then start working on getting out of debt and go forward! A life of freedom and purpose awaits you.

Spiker

Agriculture, as the case in India, has been the backbone of economy and chief source of income for the people of Bangladesh, the country made of villages. Government wants to decrease poverty by getting highest productivity from agriculture and achieve self-reliance in food production. Apart from agriculture, the country is much concerned about the growth of export division. Bangladesh have accelerated and changed her exports substantially from time to time. After Bangladesh came into being, jute and tea were the most export-oriented industries. But with the continual perils of flood, failing jute fibre prices and a considerable decline in world demand, the role of the jute sector to the country’s economy has deteriorated (Spinanger, 1986). After that, focus has been shifted to the function of production sector, especially in garment industry.

The garment industry of Bangladesh has been the key export division and a main source of foreign exchange for the last 25 years. At present, the country generates about $5 billion worth of products each year by exporting garment. The industry provides employment to about 3 million workers of whom 90% are women. Two non-market elements have performed a vital function in confirming the garment industry’s continual success; these elements are (a) quotas under Multi- Fibre Arrangement1 (MFA) in the North American market and (b) special market entry to European markets. The whole procedure is strongly related with the trend of relocation of production.

Displacement of Production in the Garment Industry

The global economy is now controlled by the transfer of production where firms of developed countries swing their attention to developing countries. The new representation is centred on a core-periphery system of production, with a comparatively small centre of permanent employees dealing with finance, research and development, technological institution and modernisation and a periphery containing dependent elements of production procedure. Reducing costs and increasing output are the main causes for this disposition. They have discovered that the simplest way to undercharge is to move production to a country where labour charge and production costs are lower. Since developing nations provide areas that do not impose costs like environmental degeneration, this practice protects the developed countries against the issues of environment and law. The transfer of production to Third World has helped the expansion of economy of these nations and also speed up the economy of the developed nations.

Garment industry is controlled by the transfer of production. The globalisation of garment production started earlier and has expanded more than that of any other factory. The companies have transferred their blue-collar production activities from high-wage areas to low-cost manufacturing regions in industrialising countries. The enhancement of communication system and networking has played a key role in this development. Export-oriented manufacturing has brought some good returns to the industrialising nations of Asia and Latin America since the 1960s. The first relocation of garment manufacturing took place from North America and Western Europe to Japan in the 1950s and the early 1960s. But during 1965 and 1983, Japan changed its attention to more lucrative products like cars, stereos and computers and therefore, 400,000 workers were dismissed by Japanese textile and clothing industry. In impact, the second stock transfer of garment manufacturing was from Japan to the Asian Tigers – South Korea, Taiwan, Hong Kong and Singapore in 1970s. But the tendency of transfer of manufacturing did not remain there. The rise in labour charge and activeness of trade unions were in proportion to the enhancement in economies of the Asian Tigers. The industry witnessed a third transfer of manufacturing from 1980s to 1990s; from the Asian Tigers to other developing countries – Philippines, Malaysia, Thailand, Indonesia and China in particular. The 1990s have been led by the final group of exporters including Bangladesh, Srilanka, Pakistan and Vietnam. But China was leader in the current of the relocation as in less than ten years (after 1980s) China emerged from nowhere to become the world’s major manufacturer and exporter of clothing.

Bangladesh Garment Sector and Global Chain

The cause of this transfer can be clarified by the salary structure in the garment industry, all over the world. Apparel labour charge per hour (wages and fringe benefits, US$) in USA is 10.12 but it is only 0.30 in Bangladesh. This difference accelerated the world apparel exports from $3 billion in 1965, with developing nations making up just 14 percent of the total, to $119 billion in 1991, with developing nations contributing 59 percent. In 1991 the number of workers in the ready-made garment industry of Bangladesh was 582,000 and it grew up to 1,404,000 in 1998. In USA, however, 1991-figure showed 1,106.0 thousand workers in the apparel sector and in 1998 it turned down to 765. 8 thousand.

The presented information reveals that the tendency of low labour charges is the key reason for the transfer of garment manufacturing in Bangladesh. The practice initiated in late 1970s when the Asian Tiger nations were in quest of tactics to avoid the export quotas of Western countries. The garment units of Bangladesh are mainly relying on the ‘tiger’ nations for raw materials. Mediators in Asian Tiger nations build an intermediary between the textile units in their home countries, where the spinning and weaving go on, and the Bangladeshi units where the cloth is cut, sewn, ironed and packed into cartons for export. The same representatives of tiger nations discover the market for Bangladesh in several nations of the North. Large retail trading companies placed in the United States and Western Europe give most orders for Bangladeshi garment products. Companies like Marks and Spencers (UK) and C&A (the Netherlands) control capital funds, in proportion to which the capital of Bangladeshi owners is patience. Shirts manufactured in Bangladesh are sold in developed nations for five to ten times their imported price.

Collaboration of a native private garment industry, Desh Company, with a Korean company, Daewoo is an important instance of international garment chain that works as one of the grounds of the expansion of garment industry in Bangladesh. Daewoo Corporation of South Korea, as part of its global policies, took interest in Bangladesh when the Chairman, Kim Woo-Choong, offered an aspiring joint venture to the Government of Bangladesh, which included the growth and process of tyre, leather goods, and cement and garment factories. The Desh-Daewoo alliance was decisive in terms of getting into the global apparel markets at significant juncture, when import reforming was going on in this market following the signing of MFA in 1974. Daewoo, a South Korean leading exporter of garments, was in search of opportunities in nations, which had hardly used their quotas. Due to the quota restriction for Korea after MFA, the export of Daewoo became limited. Bangladesh as an LDC got the chance to export without any constraint and for this cause Daewoo was concerned with the use of Bangladesh for their market. The purpose behind this need was that Bangladesh would rely on Daewoo for importing raw materials and at the same time Daewoo would get the market in Bangladesh. When the Chairman of Daewoo displayed interest in Bangladesh, the country’s President put him in touch with chairman of Desh Company, an ex-civil servant who was seeking more entrepreneurial pursuits.

To fulfil this wish, Daewoo signed a collaboration contract with Desh Garment for five years. The contract also incorporated the fields of technical training, purchase of machinery and fabric, plant establishment and marketing in return for a specific marketing commission on all exports by Desh during the contract phase. Daewoo also imparted an exhaustive practical training of Desh employees in the working atmosphere of a multinational company. Daewoo keenly helped Desh in buying machinery and fabrics. Some technicians of Daewoo arrived Bangladesh to establish the plant for Desh. The end result of the association of Desh-Daewoo was important. In the first six years of its business, i.e. 1980/81-86/87, Desh export value increased at an annual average rate of 90%, reaching more than $5 million in 1986/87.

It is claimed that the Desh-Daewoo alliance is a significant element for the growth and achievement of Bangladesh’s entire garment export industry. After getting linked with Daewoo’s brand names and marketing network, overseas buyers went on with buying garments from the corporation heedless of their origin. Out of the opening trainees most left Desh Company at several times to erect their own competing garment companies, worked as a way of moving knowledge all through the whole garment sector.

It is essential to identify the outcomes of the process of moving production from high pay to low pay nations for both developing and developed nations. It is a bare fact that most of the Third World nations are now on the way to industrialisation. In this procedure, workers are working under unfavourable working environment – minimal wages, unhealthy place of work, lack of security, no job guarantee, forced labour etc.

The route of globalisation is full of ups and downs for the developing nations. Relocations of comparatively mobile, blue-collar production from industrialized to developing nations, in some circumstances, can have troublesome effects on social life if – in the absence of efficient planning and talks between international organisations and the government and/or organisations of the host nation – the transferred action encourages urban-bound relocation and its span of stay is short. Another negative result is that the rise in employment and/or income is not expected to be satisfactorily large and extensive to lessen inequality. In connection with the negative results of relocation of manufacturing on employment in developed countries, we realize that in comparatively blue-collar industries, the growing imports from developing nations lead to unavoidable losses in employment. It is held that development of trade with the South was a significant reason of the disindustrialisation of employment in the North over past few decades.

After all employees who are constantly working under unfavourable circumstances have to bear the brunt. Work is under-control across the Bangladesh garment sector. Appalling working atmosphere has been brought to light in the Bangladesh garment industry.

A research reveals that 90 percent of the garment employees went through illness or disease during the month before the interviews. Headache, anaemia, fever, chest, stomach, eye and ear pain, cough and cold, diarrhoea, dysentery, urinary tract infection and reproductive health problems were more common diseases. The garment factories gave bonus of different diseases to the employees for working. With a view to finding out a link between these diseases and industrial threats, health status of employees has been examined before and after coming in the garment work. At the end of examination, it was come out that about 75 percent of the garment workforce had sound health before they entered the garment factory. The reasons of health declines were industrial threats, unfavourable working environment, and want of staff facilities, inflexible terms and conditions of garment employment, workplace pressure, and low wages. Different work-related threats and their influence on health forced employees to leave the job after few months of joining the factory; the average length of service was only 4 years.

The garment sector is disreputable for fires, which are said to have claimed over 200 lives in the past two years, though exact figures are tough to find. A shocking instance of absence of workplace safety was the fire in November 2000, in which almost 50 workers lost their lives in Narsingdi as exist doors were closed.

From the above analysis of working atmosphere of garment sector, we can state that the working environment of most of the Third World nations, particularly Bangladesh remind us of earlier development of garment industries in the First World nations. The state of employment in many (not necessarily) textiles and clothing units in the developing nations take us back to those set up in the nineteenth century in Europe and North America. The mistreatment of garment employees in the birth period of the development of US garment factories reviewed above is more or less same as it seen now in the Bangladesh garment industry. Can we state that garment employees of the Third World nations living in the 21st century? Is it a return of the Sweatshop?

In a way, the Western companies are guilty of pitiable working atmosphere in the garment sector. The developed nations want to make more profit and therefore, force the developing nations to cut down the manufacturing cost. In order to survive in the competition, most of the developing nations select immoral practices. By introducing inflexible terms and conditions in the business, the global economy has left few alternatives for the developing nations.

Right Time to Make a Decision

There are two alternatives to tackle the challenge of the competitive world initiated by the continuous pressure of global garment chain. One can continue to exist in the competition by adopting time-honoured work systems or immoral practices. But it is uncertain how long they can continue to exist. In connection with the garment industry of Bangladesh, we can say that this is the right time to follow a competitive policy, which improves quality. If the MFA opportunities are eliminated, will it be feasible to keep the competitiveness through low-wage-female labour or through further drop in female wages? Possibly not. Since the labour charges are so minimal that with such wage, a worker is not able to maintain even a family of two members. Enhancing the efficiency of female workers is the only solution to increased competition. Proper education and thorough training can help achieve these positive results. To rule the global market, Bangladesh has to come out of low wage and low output complex in the garment industry. Bangladesh can enhance labour output through constant training, use of upgraded technology and better working environment. Bangladesh should plan a strategy intended for promoting skill development, speeding up technology transfer and improving productivity height of the workers.

Another method is to adopt best system or ethical course. Those companies, which react to heightened competition by stressing quality, speedy answer of the customers, fair practices for labourers should have the most innovative practices. We think that we are now living in the age of competition in producing improved quality over cost-reduction policy. The objective of change efforts at the workplace has been modified over the time – from making the job humane in the 1960s, to job satisfaction and output in 1970s, to quality and competitiveness in the 1980s. It is necessary for a company to pursue a competitive policy that improves quality, flexibility, innovation and customer care. If they rely on low costs by dropping labourers’ wages and other services, they will be bereaved of labourers’ dedication to work.

Strength

. Considerable Qualified/keen to learn workforce available at low labour charges. The recommended minimum average wages (which include Travelling Allowance, House Rent, Medical Allowance, Maternity Benefit, Festival Bonus and Overtime Benefit) in the units within the Bangladesh Export Processing Zones (BEPZ) are given as below; on the other hand, outside the BEPZ the wages are about 40% lower:

. Energy at low price

. Easily accessible infrastructure like sea road, railroad, river and air communication

. Accessibility of fundamental infrastructure, which is about 3 decade old, mainly established by the Korean, Taiwanese and Hong Kong Chinese industrialists.

. FDI is legally permitted

. Moderately open Economy, particularly in the Export Promotion Zones

. GSP under EBA (Everything But Arms) for Least Developed Country applicable (Duty free to EU)

. Improved GSP advantages under Regional Cumulative

. Looking forward to Duty Free Excess to US, talks are on, and appear to be on hopeful track

. Investment assured under Foreign Private Investment (Promotion and Protection) Act, 1980 which secures all foreign investments in Bangladesh

. OPIC’s (Overseas Private Investment Corporation, USA) insurance and finance agendas operable

. Bangladesh is a member of Multilateral Investment Guarantee Agency (MIGA) under which protection and safety measures are available

. Adjudication service of the International Centre for the Settlement of Investment Dispute (ICSID) offered

. Excellent Tele-communications network of E-mail, Internet, Fax, ISD, NWD & Cellular services

. Weakness of currency against dollar and the condition will persist to help exporters

. Bank interest@ 7% for financing exports

. Convenience of duty free custom bonded w/house

. Readiness of new units to enhance systems and create infrastructure accordant with product growth and fast reactions to circumstances

Weakness

. Lack of marketing tactics

. The country is deficient in creativity

. Absence of easily on-hand middle management

. A small number of manufacturing methods

. Low acquiescence: there is an international pressure group to compel the local producers and the government to implement social acquiescence. The US GSP may be cancelled and purchasing from US & EU may decrease significantly

. M/c advancement is necessary. The machinery required to assess add on a garment or increase competence are missing in most industries.

. Lack of training organizations for industrial workers, supervisors and managers.

. Autocratic approach of nearly all the investors

. Fewer process units for textiles and garments

. Sluggish backward or forward blending procedure

. Incompetent ports, entry/exit complicated and loading/unloading takes much time

. Speed money culture

. Time-consuming custom clearance

. Unreliable dependability regarding Delivery/QA/Product knowledge

. Communication gap created by incomplete knowledge of English

. Subject to natural calamities

Opportunity

. EU is willing to establish industry in a big way as an option to china particularly for knits, including sweaters

. Bangladesh is included in the Least Developed Countries with which US is committed to enhance export trade

. Sweaters are very economical even with china and is the prospect for Bangladesh

. If skilled technicians are available to instruct, prearranged garment is an option because labour and energy cost are inexpensive.

. Foundation garments for Ladies for the FDI promise is significant because both, the technicians and highly developed machinery are essential for better competence and output

. Japan to be observed, as conventionally they purchase handloom textiles, home furniture and garments. This section can be encouraged and expanded with continued progress in quality

Threat

. The exporters have to prepare themselves to harvest the advantages offered by the opportunities.

Philosophy Amazing Grace Plastic Doctor

Introduction

Emerging victorious from World War II five years earlier, the United States in 1950 was reaping the benefits of a growing economy – benefits that were actually derived out of the country’s participation in the War. The destruction and mayhem brought by the global conflict also brought with it several positive contributions to the economy. Some would even argue that the country’s participation in World War II actually saved it from the Great Depression.

To understand the economic boom of the 1950s it is necessary to appreciate the positive impacts that were borne out of World War II. The foundation for the economic expansion and growth experienced in 1950 and several years after that were laid during World War II.

To fund and support the country’s war time efforts, it had to recruit millions of American soldiers to be sent to the war front as well as to be stationed at home. Factories had to be built to produce war materiel – guns and ammunitions, military transport, tanks, fighter planes and bombers, etc. To man the factories women and older people had to be recruited as most of the able-bodied men were at war. WWII created jobs and gave life to many industries and energized a nation. Among the industries that prospered during and immediately after the war were the newspaper industry, the agriculture industry and even Hollywood. Industries that produced transport and plant machineries also prospered. Throughout the War, women, for the first time, were given the opportunity to work outside their homes and participate in nation building. The participation of the women in the labor force started to increase during this time.

The War also provided opportunities that would later be manifested in the 1950s. Take for example many of America’s products went overseas – introducing themselves to new markets.

Many had actually feared that the end of the War would lead the country back to depression. With production of military supplies coming to an end, this fear had its basis – for the entire economy was propped up by all that had to do with the global conflict.

Fortunately, this was not the case. The victory relished by the nation brought about confidence in the government and the economy. The common consumer best exhibited this confidence as the strong consumer demand spurred economic growth after the War.

Leading towards the 1950s, industries that experienced a surge in growth included the automobile industry and the housing industry, and new industries experienced fantastic births – industries such as aviation and electronics.

There was also another outcome of WWII that contributed to post War growth – the Cold War between U.S. and the U.S.S.R.

Many of the military industries that sprouted during the war continued to do big business after it. As communist block emerged as a military power in Europe, America had to arm itself against what it considered as a threat. Huge investments were made in the defense of the country. Such investments meant jobs, factories, huge spending – all contributed to the boom of the 1950s.

The economic success of the country probably influenced its leaders to advocate the replication of an open economy at the international level. This is best evidenced by the country’s spearheading the establishment of the International Monetary Fund and the World Bank.

Gross Domestic Product and Per Capita GDP

In 1950, the country’s GDP was at $293.8 Billion (in current dollars). At that time, Per Capita GDP was $9,573.00 – making the United States the number one country world wide in this aspect. By 1996, GDP was at $13.194 Trillion. Per Capita GDP was at $43,800.00 – however, the country ranked only at 10th place world wide in this respect.

Post World War II scenario showed that too few economies survive the war while a great majority, especially in Europe, was greatly affected. Many developments starting in the late 1970s toward the early 2000s enabled other countries to overtake the U.S. in terms of Per Capita GDP.

As Per Capita GDP is influenced by population, countries that had significant economic growth coupled with low birth rate were able to surpass the U.S. in this indicator. However, the U.S. remains the most powerful economy in 2007 taking into consideration other indicators.

Employment and Unemployment

In 1950, the civilian labor force was about 58 million strong. Only 5.3 percent of the labor force was unemployed. 41.6 million of the labor force at that time were males, while only 17.34 million were females. By 1996, the labor force grew to about 142 million while unemployment rate as at 5 percent. 76 million were males while 66 million were females in the labor force. In the 1950s, the number of workers in the services sector caught up with workers in goods production industries. The same time also saw the rise of white-collar jobs and the strengthening of labor unions. Awareness on labor rights was on a rise. The biggest impact experienced by the labor force was the increase in women’s participation in employment activities. Accordingly, women have literally poured into the labor force starting in 1950. By 1990, women’s participation in the labor force would nearly double. On the other hand, men’s participation would drop over time.

Per Capita Personal Income

In 1950 the Per Capita Personal Income was pegged at $1,501.00. By 2006 this rose to about $36,600.00. Though marked by huge difference in amount, it can be noted that $1,501.00 in 1950 could by more goods and services than the $36,600 in 2006 as illustrated by the CPI rates for both years.

Consumer Price Index and Inflation

With 1967 as base year, CPI in 1950 was registered at 72.1 – meaning that a basket of goods and services bought in 1950 were 72.1 percent of the price of the same goods and services bought in 1967. By 2006, the CPI was at 603.5. This meant that the same basket of goods and services bought in 1967 would cost 603.5 percent more in 2006. Inflation rate in 1950 was at a steady 1.09 percent. In 2006 the rate was at 3.24 percent.

Emerging Industries

1950 saw the emergence of new industries that were anchored on new technologies. Among these is the aerospace industry. The great success of the heavy bombers during the war emphasized importance on innovation. Improvements in engine design, metallurgy, and arms technology helped advance the industry as well as improve manufacturing procedures.

The onset of the Cold War ensured that the industry was there to stay. At its peak, the industry hired hundreds of thousands of workers in four major factories. The industry was also fueled by a $3 billion government spending.

Other industries that grew during this time were boosted by other industries. Take for instance the housing boom experienced after war. New homes meant additional furniture and appliances as well as new cars. The consumer-led growth likewise spread to other areas. The introduction of television to the masses spurred the growth in electronics.

There were also after effects in the growth of industries. As the demand for homes and cars increased, many Americans were lured out of central cities to the suburbs. The construction of better highways also contributed to these phenomena.

Farmers though were facing tough times. As people left farm lands, lesser people were left behind to do farm work. This led to a drop in the productivity of the farm sector.

Innovations and the Transformation of Business

At a personal level, 1950 saw the introduction of the first hand held T.V. remote control – a device that would be seen as a necessity in many households for years to come. Color TV also emerged thru the issuance of a license to CBS Network. Another innovation is the introduction of the first credit card – Diners – also an item that would come across as a necessity in modern times.

The first pagers were also developed in 1950.

In the business front, 1950 would usher in an era marked by consolidation of large companies. Businesses would combine to create bigger, greater businesses. Example, International Telephone and Telegraph bought Sheraton Hotels, Continental Banking, Hartford Fire Insurance, Avis Rent-a-Car, and other companies.

Notable Events and Personalities

Notable events of 1950 included the following:

Start of the Korean War – influenced greatly by the U.S. and USSR at opposite sides, North and South Korea would tangle in a three-year war that highlighted the tension during Cold War regime.

Development of the Hydrogen Bomb – raged by the atomic bomb testing by USSR, the government pursued the development of a hydrogen bomb.

Senator Joseph McCarthy – started the Red Scare in halls of the U.S. Senate – making accusations that the State Department was filled with Communists or their sympathizers. The Senator’s actions led to the adoption of the term McCarthyism – describing intense anti-Communists sentiments.

This period coincided with and fueled the onset of the Cold War between America and the USSR. Thousands of Americans were accused of being Communists or sympathizers during this time – Americans in various sectors of the society. History would later judge these accusations as reckless and baseless. While Senator McCarthy gained considerable media mileage at the start of his “campaigns,” he would be later unmasked as a grandstanding antic who had little or no evidence to back up his accusations. Many of the people Senator McCarthy accused suffered greatly. Many loss their jobs, had their careers ruined while some were even unjustly imprisoned.

Conclusion

The end of World War II led to the end of the Great Depression and the start of a long period of economic expansion through the 1950s. It is quite ironical that the most destructive war in history would contribute to the emergence of the strongest and biggest economy in the world. The confidence on the economy was obviously brought about by the country’s victory in the War. Tempered by strong collaboration between the government, businesses and the consumers, the U.S. emerged from the War a lot stronger and economically strengthened. Industrial expansion during wartime brought economic impetus that would be carried on even after WWII. The fact that most of the major economies were slow to recover from the after effects of the conflict placed the United States at absolute and relative advantage over both its allies and its enemies.

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Preview of Wernicki’s blog at TravelPod. Read the full blog here: www.travelpod.com This blog preview was made by TravelPod using the TripAdvisor™ TripWow slideshow creator. Entry from: Budva, Montenegro Entry Title: “Black Mountain Country” Entry: “Montenegro You know you are going on an adventure when you rock up to the bus station and you’re the only tourists. We started the trip to Budva from Sarejevo’s Lubienka bus station which is essentially in the Serbian area of town — something you realise when all the signs turn into Cyrillic. The bus was something out of the 1990’s with a cracked windscreen, funny burning smell that suspiciously appears when the breaks are applied and a knocking noise that emanated from the bowels of the bus, thankfully only when we turned left. The Balkan Express was the name of the company but clearly the express part was a bit of marketing fluff as we meandered, with frequent stops so the driver could have coffee and a smoke, through the very hilly and picturesque route back to the Adriatic coast via Nišić and Podgorica. We ended up on the bus for a total of 8½ hours, which was surprisingly well tolerated by the kids and pretty much proved they are becoming the seasoned little travellers we need them to be. Kris, who gets car sick was doped up on Sea Legs and had elasticised bracelets that go on your wrists to stop the “Chucky” monster from appearing which must have helped because the road was bumpy and winding, but we had no sickness …

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