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Battle of Megiddo - World War I - Palestine
Skirmish of Megiddo - World War I - Palestine The Battle of Megiddo was battled September 19 to October 1, 1918, during World War I (1914...
Monday, September 23, 2019
Early and late industrialization Essay Example | Topics and Well Written Essays - 2000 words
Early and late industrialization - Essay Example These late industrialized nations assumed the role of learner ââ¬Ëinstead of the inventor & innovatorââ¬â¢ as their economic and industrial development resulted through ââ¬Å"borrowing and improving technologies which has already [been] developed by experiencing firm in more advanced nationsâ⬠(Do the theories of ââ¬Ëlate industrializationââ¬â¢ explain national differences in the institutional and organisational characteristic of contemporary business? How do these ideas help to explain variations in economic performance?). However, one can notice that the economic growth of the late industrialist nations have been more rapid as they heavily depended on the successful models of institutional and organizational foundations tested by their forerunners. It was the American economist Abramowitz who coined the terms ââ¬Ëforging aheadââ¬â¢, and ââ¬Ëcatching upââ¬â¢ to refer to the industrial and economic progress achieved by early and late industrial nations. Even though Britain forged ahead in the late 19th century with the new industrial revolution, USA, Germany and Japan caught up and even surpassed Great Britainââ¬â¢s achievements in many respects. According to Shin (1996), ââ¬Å"the existence of forerunners has both complementary and competitive aspects to late comersââ¬â¢ developmentâ⬠: the late comers can benefit heavily from the successful models of the forerunners, but ââ¬Å"they have to develop facing formidable competition from existing forerunnersâ⬠(p. 2). The author is of the opinion that there have been only two instances of forging ahead in the modern industrial history-one by Britain in the late eighteenth century and the other by USA during the first half of the 20th century; he believes that the process of ââ¬Ëcatching up had a much greater impact than forging aheadââ¬â¢ in the growth of the world economy (Shin, 1996, p. 2). There is a close link between the nature of corporate governance and the industrial or economic development of a nation.
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