I need a brief biography of JP Morgan's life and times. I also need to discuss the contributions to economic thinking made by him, and also demonstrate how that person's life and times influenced his or her contributions.© BrainMass Inc. brainmass.com October 16, 2018, 9:23 pm ad1c9bdddf
economic thinker paper help
I need a brief biography of JP Morgan's life and times. I also need to discuss the contributions to economic thinking made by him, and also demonstrate how that person's life and times influenced his or her contributions.
J P Morgan was born in April 16, 1837. He is one of the best known American financier and banker. His training in banking began in the banking house of Duncan, Sherman & Company. Then he worked in his father's firm J. Peirpont Morgan & company and acted as a New York agent. During the American civil war he financed the purchase of old rifles from the army at rock bottom prices, his partner machined these rifles and sold them back to the army. This led to a scandal. He is also known for his love for art and philanthropy. . J P Morgan masterminded the merger of Edison General Electric and Thompson-Houston Electric Company and formed the General Electric Company. He also masterminded the merger of the Federal Steel Company and the Carnegie Steel Company and formed the United States Steel Corporation in 1901. There were several other steel companies that were merged in this corporation. As he was a great lover of art, he left his art collection to the Wadsworth Athenaeum of Hartford and the Museum of Art in New York City. He died on March 31st, 1913. ...
JP Morgan's contribution to economic thinking is specified.
Global Managerial Economics
Details: Your cousin's latest interest is The International Monetary Fund, about which you are now chatting online.
The IMF was established by the United Nations in 1944 to provide loans to countries in financial distress at a relatively low interest rate. Nations having balance-of-payments problems can borrow from the IMF for short time periods and such loans include economic and financial stipulations on the debtor nation. Typically, such stipulations require that the debtor nation follow an austerity program that limits government spending, domestic consumption, and imports.
Your cousin wants to know, what do you think about the goal of the IMF's aid to distressed countries? What has been the controversy surrounding the IMF austerity programs? What are examples of the IMF successes and failures?View Full Posting Details