Resemblance in General Crisis of the 17th century with Recent Crises

Resemblance in General Crisis of the 17th century with Recent Crises

Introduction

The main purpose of this paper is to make an analysis on the resemblance of general crisis of 17th century and the recent crisis. The paper also makes an analysis of the policy options which are present to the statesmen in these regards. There are different similarities between the general crisis of 17th century and the recent crisis. Europe had suffered in the fourteenth century enormous demographic and socioeconomic crises. The sixteenth century, especially after the arrival of Europeans to the New World territory that encouraged the pursuit of profit and commerce had been extremely successful, but the flow of wealth especially precious metals from America to Europe waned in the century later and much of this wealth was confiscated to be spent on armaments. The concept of crisis is extremely ambiguous: it has had multiple uses, often contradictory. Throughout, the twentieth century has enjoyed periods of enormous popularity in contrast to others where its future existence as a social phenomenon of significant scope and duration, it was almost ruled out (Berkmen 2009). This happened towards the end of the Keynesian era in the distant years of the 1960s and even the very beginning of 1970. The main effect of these crises was on the Europe. Similarly, the recent crises have also bad impacts on Europe. Therefore, this paper makes analysis on the similarities between the general crises of 17th century and recent era.

Discussion

There are very similarities and resemblances between the general crisis of 17th century and the recent crisis. The main reasons of the 17th century crisis and the recent crisis are almost the same. The origin of the concept of crisis is very remote. One resemblance is that in the recent crises, the technological revolution had higher earnings and therefore the demand prompting more technological revolution, increasing labor productivity and generating new revenues has increased. In any case the crisis is a time where the system chooses decision (if there is room for it) between reconstituted in one way and another or decay (also passing one of several possible paths). One of the basis of this option is the cultural background that predisposes to a behavior or another, not as a stock culture as immovable heritage, but as evolution as dynamic living spaces including reformist or revolutionary creativity and areas of stiffness, lethal conservatism.

In 17th century general crisis, the myth of the bourgeois state regulator, taming business cycles, was a renowned economist Marchal as noted in 1963 that "in the current state of knowledge and ideas, a prolonged crisis would be impossible". Now, early in the century, when we see the accumulation of uncertainties in a world deeply westernized (immersed in bourgeois civilization), it is very useful to start the tour by going back to the crisis of the Roman Empire centuries. Recently comparisons have proliferated, many of them very attractive between the 17th century general crisis and ...