... forming their opposition, much higher-level analysis was elaborated. Many hard money writers formulated a monetary explanation of the business cycle -seeing the cause of depression in an expansion of bank credit and money supply, a subsequent rise in prices, specie drain abroad, and finally contraction and depression. Monetary expansion would only renew this process and prolong the contraction necessary to liquidate ... as to advocate abolition of banking, or virtual abolition through imposing 100 percent reserves. In practice, however, they were often willing to accept more immediately ...

• Word Count: 3048
• Approx Pages: 12
• Grade Level: Undergraduate

... incorporation of the Social Chapter into the British constitution. This is an element of the Maastricht Treaty signed by the twelve members of the European Union in 1992. In 1993 the UK took the decision to opt out of the Social Chapter, fearing that it would impose extra costs on UK ... following the introduction of the New Deal, unemployment has fallen by 19 per cent. Therefore, the New Deal is a spin operation as it claims credit for finding people jobs they would have found anyway and, according to some critics, it fails to address the problems faced by unemployed people in the ... ...

• Word Count: 1778
• Approx Pages: 7
• Grade Level: Undergraduate