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NCERT Book for Class 10 Social Science Rebuilding A World Economy
Class 10 Social Science students should refer to the following NCERT Book Rebuilding A World Economy in Class 10. This NCERT Book for Class 10 Social Science will be very useful for exams and help you to score good marks
Rebuilding A World Economy NCERT Book Class 10
Rebuilding a World Economy: The Post-war Era
The Second World War broke out a mere two decades after the end of the First World War. It was fought between the Axis powers (mainly Nazi Germany, Japan and Italy) and the Allies (Britain, France, the Soviet Union and the US). It was a war waged for six years on many fronts, in many places, over land, on sea, in the air. Once again death and destruction was enormous. At least 60 million people, or about 3 per cent of the world’s 1939 population, are believed to have been killed, directly or indirectly, as a result of the war. Millions more were injured.
Unlike in earlier wars, most of these deaths took place outside the battlefields. Many more civilians than soldiers died from war-related causes. Vast parts of Europe and Asia were devastated, and several cities were destroyed by aerial bombardment or relentless artillery attacks. The war caused an immense amount of economic devastation and social disruption. Reconstruction promised to be long and difficult.
Two crucial influences shaped post-war reconstruction. The first was the US’s emergence as the dominant economic, political and military power in the Western world. The second was the dominance of the Soviet Union. It had made huge sacrifices to defeat Nazi Germany, and transformed itself from a backward agricultural country into a world power during the very years when the capitalist world was trapped in the Great Depression.
4.1 Post-war Settlement and the Bretton Woods Institutions
Economists and politicians drew two key lessons from inter-war economic experiences. First, an industrial society based on mass production cannot be sustained without mass consumption. But to ensure mass consumption, there was a need for high and stable incomes. Incomes could not be stable if employment was unstable. Thus stable incomes also required steady, full employment. But markets alone could not guarantee full employment. Therefore governments would have to step in to minimise fluctuations of price, output and employment. Economic stability could be ensured only through the intervention of the government. The second lesson related to a country’s economic links with the outside world. The goal of full employment could only be achieved if governments had power to control flows of goods, capital and labour.
Thus in brief, the main aim of the post-war international economic system was to preserve economic stability and full employment in the industrial world. Its framework was agreed upon at the United Nations Monetary and Financial Conference held in July 1944 at Bretton Woods in New Hampshire, USA.
The Bretton Woods conference established the International Monetary Fund (IMF) to deal with external surpluses and deficits of its member nations. The International Bank for Reconstruction and Development (popularly known as the World Bank) was set up to finance postwar reconstruction. The IMF and the World Bank are referred to as the Bretton Woods institutions or sometimes the Bretton Woods twins. The post-war international economic system is also often described as the Bretton Woods system.
The IMF and the World Bank commenced financial operations in 1947. Decision-making in these institutions is controlled by the Western industrial powers. The US has an effective right of veto over key IMF and World Bank decisions. The international monetary system is the system linking nationalcurrencies and monetary system. The Bretton Woods system was based on fixed exchange rates. In this system, national currencies, for example the Indian rupee, were pegged to the dollar at a fixed exchange rate. The dollar itself was anchored to gold at a fixed price of $35 per ounce of gold.
Write in brief
1. Give two examples of different types of global exchanges which took place before the seventeenth century, choosing one example from Asia and one from the Americas.
2. Explain how the global transfer of disease in the pre-modern world helped in the colonisation of the Americas.
3. Write a note to explain the effects of the following:
a) The British government’s decision to abolish the Corn Laws.
b) The coming of rinderpest to Africa.
c) The death of men of working-age in Europe because of the World War.
d) The Great Depression on the Indian economy.
e) The decision of MNCs to relocate production to Asian countries.
4. Give two examples from history to show the impact of technology on food availability.
5. What is meant by the Bretton Woods Agreement?
Please refer to attached file for NCERT Class 10 History Rebuilding a World Economy
NCERT Class 10 Economics Contemporary India Resources and Development |
NCERT Class 10 Economics Contemporary India Forest and Wildlife Resources |
NCERT Class 10 Economics Contemporary India Water Resources |
NCERT Class 10 Economics Contemporary India Agriculture |
NCERT Class 10 Economics Contemporary India Minerals and Energy Resources |
NCERT Class 10 Economics Contemporary India Manufacturing Industries |
NCERT Class 10 Economics Contemporary India Lifelines of National Economy |
NCERT Class 10 Political Science Power Sharing |
NCERT Class 10 Political Science Federalism |
NCERT Class 10 Political Science Democracy and Diversity |
NCERT Class 10 Political Science Gender Religion and Caste |
NCERT Class 10 Political Science Popular Struggles and Movements |
NCERT Class 10 Political Science Political Parties |
NCERT Class 10 Political Science Outcomes of Democracy |
NCERT Class 10 Political Science Challenges to Democracy |
NCERT Class 10 History The Rise of Nationalism in Europe |
NCERT Class 10 History Nationalism in India |
NCERT Class 10 History The Making of a Global World |
NCERT Class 10 History The Age of Industrialisation |
NCERT Class 10 Economics Development |
NCERT Class 10 Economics Sectors Of The Indian Economy |
NCERT Class 10 Economics Money And Credit |
NCERT Class 10 Economics Globalisation And The Indian Economy |
NCERT Class 10 Economics Consumer Rights |
NCERT Book Class 10 Social Science Rebuilding A World Economy
The above NCERT Books for Class 10 Social Science Rebuilding A World Economy have been published by NCERT for latest academic session. The textbook by NCERT for Rebuilding A World Economy Social Science Class 10 is being used by various schools and almost all education boards in India. Teachers have always recommended students to refer to Rebuilding A World Economy NCERT etextbooks as the exams for Class 10 Social Science are always asked as per the syllabus defined in these ebooks. These Class 10 Rebuilding A World Economy book for Social Science also includes collection of question. Along with Social Science Class 10 NCERT Book in Pdf for Rebuilding A World Economy we have provided all NCERT Books in English Medium for Class 10 which will be really helpful for students who have opted for english language as a medium. Class 10 students will need their books in English so we have provided them here for all subjects in Class 10.
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