The Second Industrial Revolution and the Spanish Economy (1890-1914)
The Second Industrial Revolution and Big Business
The loss of the colonies had both negative and positive effects on the Spanish economy. The negative effect stemmed from losing the captive market that Spain had enjoyed in its colonies, particularly in the U.S. colonies, which were now competing with Spain.
However, there was also a positive impact. The investments made in Cuba were repatriated to Spain, leading to a massive influx of capital, equivalent to a quarter of the national income. This influx
Read MoreThe Role of the State in the Economy
The Composition of the Work
The state, for the development of its functions, consists of various organs, most notably:
The Parliament
The legislative body responsible for the elaboration and approval of laws.
Government and Administration
Responsible for the execution of laws.
Judges
The judicial organ whose function is to ensure compliance with laws.
State Budget
Prepared annually by the Ministry of Finance and approved in draft form at the Council of Ministers. The Government presents it to the Congress
Read MoreMoney Supply and Financial Intermediation
Item 1. Money and Money Supply
The Origin of Money
Internal and external money. Financial intermediation and money creation. Money supply.
Source of Money
There is no single, comprehensive definition of money. Its definition is fundamental to understanding the various theories of money and monetary policy. It is usually understood that money is all that is commonly accepted as payment for goods and services.
Functions of Money
A proper way of understanding what money is involves studying its functions:
Read MoreUnderstanding Market Structures and Demand Influences
Factors Influencing Demand
Prices of Related Goods
The quantity demanded of a good depends on changes in the prices of related goods. These relationships can be categorized as substitutes or complements:
- Substitutes: If the price of one good increases, the demand for the other good increases. Examples include margarine and butter, tea and coffee, sugar and saccharin. Substitute goods satisfy the same consumer need.
- Complements: If the price of one good increases, the demand for the other good decreases.
Understanding Permanent Disability Benefits
Permanent Disability Benefits
1. Total Permanent Disability
This disability prevents a worker from performing the fundamental tasks of their usual occupation, even if they can take up a different one.
Requirements:
- Be employed or in an equivalent situation at the time of the disabling event.
- If the disability is due to illness, a minimum contribution period is required, varying depending on age:
- Under 26 years: Half the time elapsed between turning 16 and the disabling event.
- 26 years or older: A quarter
Company Roles, Structures, and Market Dynamics
Maslow’s Hierarchy of Needs
Primary Needs
These are the needs relating to survival.
Safety Needs
The need to feel safe and protected.
Social Needs
The need for integration and belonging within a group.
Esteem Needs
The need to be respected and valued by others and oneself.
Self-Actualization Needs
The need for self-fulfillment, involving the satisfaction of achieving personal goals and maximizing one’s capabilities.
Roles of Companies
Economic Roles
- Generate wealth through the production of goods and services.