Misplaced Pages

#681318

139-587: The building was opened in 1937 to replace the original library building (the "Old Libe," Fenton Hall, completed in 1907), which the University's collections had outgrown. Construction of the library was financed as a Depression-era Works Progress Administration (WPA) project, spearheaded by Oregon senator Frederick Steiwer and took more than two years to complete. "The New Libe" as the Oregon Daily Emerald student newspaper had christened

278-634: A deflationary spiral started in 1931. Farmers faced a worse outlook; declining crop prices and a Great Plains drought crippled their economic outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance. At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better. For example,

417-546: A perfect man . For example, the Annals would allow them to relate the moral problems of the present to past political events; the Book of Odes reflects the "mood and concerns" of the commoners and their view on government; while the Book of Changes encompasses the key theory and practice of divination. Although some Chinese people follow Confucianism in a religious manner, many argue that its values are secular and that it

556-418: A silver standard , almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries . This partly explains why the experience and length of the depression differed between regions and states around

695-465: A "transmitter who invented nothing". He puts the greatest emphasis on the importance of study, and it is the Chinese character for study (學) that opens the text. Far from trying to build a systematic or formalist theory, he wanted his disciples to master and internalize older classics, so that they can capture the ancient wisdoms that promotes "harmony and order", to aid their self-cultivation to become

834-400: A capital G ), and other translations that have been put forth include "authoritativeness" and "selflessness". Confucius's moral system was based upon empathy and understanding others, rather than divinely ordained rules. To develop one's spontaneous responses of rén so that these could guide action intuitively was even better than living by the rules of yì . Confucius asserts that virtue is

973-604: A former privately run bank, bearing no relation to the U.S. government (not to be confused with the Federal Reserve ). Unable to pay out to all of its creditors, the bank failed. Among the 608 American banks that closed in November and December 1930, the Bank of United States accounted for a third of the total $ 550 million deposits lost and, with its closure, bank failures reached a critical mass. In an initial response to

1112-467: A greater reduction in credit. On 5 April 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates , coins and bullion illegal, reducing the pressure on Federal Reserve gold. British economist John Maynard Keynes argued in The General Theory of Employment, Interest and Money that lower aggregate expenditures in the economy contributed to

1251-742: A head in 223  BCE when the Qin state conquered all of China. Li Si , Prime Minister of the Qin dynasty , convinced Qin Shi Huang to abandon the Confucians' recommendation of awarding fiefs akin to the Zhou dynasty before them which he saw as being against to the Legalist idea of centralizing the state around the ruler. Under the succeeding Han and Tang dynasties, Confucian ideas gained even more widespread prominence. Under Emperor Wu of Han ,

1390-462: A loyalist official rose up with the people of Hou and forced Hou Fan to flee to the state of Qi . The situation may have been in favor for Confucius as this likely made it possible for Confucius and his disciples to convince the aristocratic families to dismantle the fortifications of their cities. Eventually, after a year and a half, Confucius and his disciples succeeded in convincing the Shu family to raze

1529-482: A massive decline in income and to employment that was well below the average. In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment. Confucius Confucius ( 孔子 ; pinyin: Kǒngzǐ ; lit.   ' Master Kong ' ; c.  551  – c.  479 BCE ), born Kong Qiu ( 孔丘 ), was a Chinese philosopher of the Spring and Autumn period who

SECTION 10

#1732780938682

1668-497: A mean between extremes. For example, the properly generous person gives the right amount – not too much and not too little. Confucius's political thought is based upon his ethical thought. He argued that the best government is one that rules through "rites" ( lǐ ) and morality, and not by using incentives and coercion. He explained that this is one of the most important analects: "If the people be led by laws, and uniformity sought to be given them by punishments, they will try to avoid

1807-600: A modern industrial city handled shortages of money and resources. Often they updated strategies their mothers used when they were growing up in poor families. Cheap foods were used, such as soups, beans and noodles. They purchased the cheapest cuts of meat—sometimes even horse meat—and recycled the Sunday roast into sandwiches and soups. They sewed and patched clothing, traded with their neighbors for outgrown items, and made do with colder homes. New furniture and appliances were postponed until better days. Many women also worked outside

1946-402: A monetary contraction first-hand were forced to join the deflationary policy since higher interest rates in countries that performed a deflationary policy led to a gold outflow in countries with lower interest rates. Under the gold standard's price–specie flow mechanism , countries that lost gold but nevertheless wanted to maintain the gold standard had to permit their money supply to decrease and

2085-515: A person throughout life?" The Master replied: "How about 'reciprocity'! Never impose on others what you would not choose for yourself." Often overlooked in Confucian ethics are the virtues to the self: sincerity and the cultivation of knowledge. Virtuous action towards others begins with virtuous and sincere thought, which begins with knowledge. A virtuous disposition without knowledge is susceptible to corruption, and virtuous action without sincerity

2224-567: A serious issue in the 1930s. Support for increasing welfare programs during the depression included a focus on women in the family. The Conseil Supérieur de la Natalité campaigned for provisions enacted in the Code de la Famille (1939) that increased state assistance to families with children and required employers to protect the jobs of fathers, even if they were immigrants. In rural and small-town areas, women expanded their operation of vegetable gardens to include as much food production as possible. In

2363-480: A small cadre of Labour, but the vast majority of Labour leaders denounced MacDonald as a traitor for leading the new government. Britain went off the gold standard , and suffered relatively less than other major countries in the Great Depression. In the 1931 British election, the Labour Party was virtually destroyed, leaving MacDonald as prime minister for a largely Conservative coalition. In most countries of

2502-713: A standstill agreement froze Germany's foreign liabilities for six months. Germany received emergency funding from private banks in New York as well as the Bank of International Settlements and the Bank of England. The funding only slowed the process. Industrial failures began in Germany, a major bank closed in July and a two-day holiday for all German banks was declared. Business failures were more frequent in July, and spread to Romania and Hungary. The crisis continued to get worse in Germany, bringing political upheaval that finally led to

2641-517: A town. Eventually, he rose to the position of Minister of Crime. The Xunzi says that once assuming the post, Confucius ordered the execution of Shaozheng Mao , another Lu state official and scholar whose lectures attracted the three thousand disciples several times except Yan Hui . Shaozheng Mao was accused of 'five crimes', each worth execution, including 'concealed evilness, stubborn abnormality, eloquent duplicity, erudition in bizarre facts and generosity to evildoers'. Confucius desired to return

2780-460: A transmitter for the values of earlier periods which he claimed had been abandoned in his time. He advocated for filial piety , endorsing strong family loyalty, ancestor veneration , the respect of elders by their children and of husbands by their wives. Confucius recommended a robust family unit as the cornerstone for an ideal government. He championed the Silver Rule , or a negative form of

2919-473: A year later the couple had their first child, their son Kong Li ( 孔鯉 ). Qiguan and Confucius later had two daughters together, one of whom is thought to have died as a child and one was named Kong Jiao ( 孔姣 ). Confucius was educated at schools for commoners, where he studied and learned the Six Arts . Confucius was born into the class of shi ( 士 ), between the aristocracy and the common people. He

SECTION 20

#1732780938682

3058-658: Is a consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse, by expanding the money supply and acting as lender of last resort . If they had done this, the economic downturn would have been far less severe and much shorter. Modern mainstream economists see the reasons in Insufficient spending, the money supply reduction, and debt on margin led to falling prices and further bankruptcies ( Irving Fisher 's debt deflation). The monetarist explanation

3197-426: Is based upon the idea of reciprocity. Yì can be translated as righteousness , though it may mean what is ethically best to do in a certain context. The term contrasts with action done out of self-interest . While pursuing one's own self-interest is not necessarily bad, one would be a better, more righteous person if one's life was based upon following a path designed to enhance the greater good. Thus an outcome of yì

3336-509: Is doing the right thing for the right reason. Just as action according to lǐ should be adapted to conform to the aspiration of adhering to yì , so yì is linked to the core value of rén ( 仁 ). Rén consists of five basic virtues: seriousness, generosity, sincerity, diligence, and kindness. Rén is the virtue of perfectly fulfilling one's responsibilities toward others, most often translated as "benevolence", "humaneness", or "empathy"; translator Arthur Waley calls it "Goodness" (with

3475-571: Is found in this famous anecdote: 廄焚。子退朝，曰：傷人乎？不問馬。 When the stables were burnt down, on returning from court Confucius said, "Was anyone hurt?" He did not ask about the horses. This remark was considered a strong manifestation of Confucius' advocacy in humanism. One of his teachings was a variant of the Golden Rule , sometimes called the " Silver Rule " owing to its negative form: 子貢問曰：有一言而可以終身行之者乎？子曰：其恕乎！己所不欲、勿施於人。 Zi Gong [a disciple] asked: "Is there any one word that could guide

3614-455: Is less a religion than a secular morality. Proponents of religious Confucianism argue that despite the secular nature of Confucianism's teachings, it is based on a worldview that is religious. Confucius was considered more of a humanist than a spiritualist, his discussions on afterlife and views concerning Heaven remained indeterminate, and he is largely unconcerned with spiritual matters often considered essential to religious thought, such as

3753-596: Is located on the second floor of the Knight Library of University of Oregon . They help not only students and community members, but also faculty research using special collections. The original 1937 section of the library, designed by Lawrence, contains inscriptions along the tops of each of seven large windows on the main (north) facade. These read, "Philosophia," "Historia," "Religio," "Ars," "Natura," "Societas," and "Litterae," and are meant to represent (in Latin ),

3892-462: Is not true righteousness. Cultivating knowledge and sincerity is also important for one's own sake; the superior person loves learning for the sake of learning and righteousness for the sake of righteousness. The Confucian theory of ethics as exemplified in lǐ ( 禮 ) is based on three important conceptual aspects of life: (a) ceremonies associated with sacrifice to ancestors and deities of various types, (b) social and political institutions, and (c)

4031-438: Is said to have worked in various government jobs during his early 20s, and as a bookkeeper and a caretaker of sheep and horses, using the proceeds to give his mother a proper burial. When his mother died, Confucius (aged 23) is said to have mourned for three years , as was the tradition. In Confucius's time, the state of Lu was headed by a ruling ducal house. Under the duke were three aristocratic families , whose heads bore

4170-493: Is supported by the contrast in how the crisis progressed in, e.g., Britain, Argentina and Brazil, all of which devalued their currencies early and returned to normal patterns of growth relatively rapidly and countries which stuck to the gold standard , such as France or Belgium. Frantic attempts by individual countries to shore up their economies through protectionist policies – such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries – exacerbated

4309-457: Is thought that Confucius was born on 28 September 551 BCE, in Zou ( 鄒 , in modern Shandong ). The area was notionally controlled by the kings of Zhou but effectively independent under the local lords of Lu , who ruled from the nearby city of Qufu. His father Kong He (or Shuliang He) was an elderly commandant of the local Lu garrison. His ancestry traced back through the dukes of Song to

Knight Library - Misplaced Pages Continue

4448-482: Is traditionally considered the paragon of Chinese sages. Much of the shared cultural heritage of the Sinosphere originates in the philosophy and teachings of Confucius. His philosophical teachings, called Confucianism , emphasized personal and governmental morality, harmonious social relationships , righteousness, kindness, sincerity, and a ruler's responsibilities to lead by virtue. Confucius considered himself

4587-539: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that

4726-524: The Analects . Confucius's disciples and his only grandson, Zisi , continued his philosophical school after his death. These efforts spread Confucian ideals to students who then became officials in many of the royal courts in China, thereby giving Confucianism the first wide-scale test of its dogma . Two of Confucius's most famous later followers emphasized radically different aspects of his teachings. In

4865-587: The Golden Rule , advising, "Do not do unto others what you do not want done to yourself." The time of Confucius's life saw a rich diversity of thought , and was a formative period in China's intellectual history. His ideas gained in prominence during the Warring States period , but experienced setback immediately following the Qin conquest . Under Emperor Wu of Han , Confucius's ideas received official sanction, with affiliated works becoming mandatory readings for career paths leading to officialdom. During

5004-582: The New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of

5143-574: The Shang dynasty which had preceded the Zhou. Traditional accounts of Confucius's life relate that Kong He's grandfather had migrated the family from Song to Lu. Not all modern scholars accept Confucius's descent from Song nobility. Kong He died when Confucius was three years old, and Confucius was raised by his mother Yan Zhengzai ( 顏徵在 ) in poverty. His mother later died at less than 40 years of age. At age 19, he married Lady Qiguan ( 亓官氏 ), and

5282-734: The Tang and Song dynasties, Confucianism developed into a system known in the West as Neo-Confucianism , and later as New Confucianism . From ancient dynasties to the modern era, Confucianism has integrated into the Chinese social fabric and way of life. Traditionally, Confucius is credited with having authored or edited many of the ancient texts including all of the Five Classics . However, modern scholars exercise caution in attributing specific assertions to Confucius himself, for at least some of

5421-539: The coming to power of Hitler's Nazi regime in January 1933. The world financial crisis now began to overwhelm Britain; investors around the world started withdrawing their gold from London at the rate of £2.5 million per day. Credits of £25 million each from the Bank of France and the Federal Reserve Bank of New York and an issue of £15 million fiduciary note slowed, but did not reverse,

5560-523: The works attributed to Confucius were made the official imperial philosophy and required reading for civil service examinations in 140  BCE which was continued nearly unbroken until the end of the 19th century. As Mohism lost support by the time of the Han, the main philosophical contenders were Legalism, which Confucian thought somewhat absorbed, the teachings of Laozi , whose focus on more spiritual ideas kept it from direct conflict with Confucianism, and

5699-707: The 16th century during the late Ming dynasty . The first known effort was by Michele Ruggieri , who returned to Italy in 1588 and carried on his translations while residing in Salerno . Matteo Ricci started to report on the thoughts of Confucius, and a team of Jesuits— Prospero Intorcetta , Philippe Couplet , and two others—published a translation of several Confucian works and an overview of Chinese history in Paris in 1687. François Noël , after failing to persuade Clement   XI that Chinese veneration of ancestors and Confucius did not constitute idolatry , completed

Knight Library - Misplaced Pages Continue

5838-447: The 1937 recession that interrupted it). The common view among most economists is that Roosevelt's New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Some economists have also called attention to the positive effects from expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended. It

5977-521: The Analects, Confucius described the importance of the poetry in the intellectual and moral development of an individual: The Master said, "My children, why do you not study the Book of Poetry ? " The Odes serve to stimulate the mind. "They may be used for purposes of self-contemplation. "They teach the art of sociability. "They show how to regulate feelings of resentment. "From them you learn

6116-813: The British crisis. The financial crisis now caused a major political crisis in Britain in August 1931. With deficits mounting, the bankers demanded a balanced budget; the divided cabinet of Prime Minister Ramsay MacDonald's Labour government agreed; it proposed to raise taxes, cut spending, and most controversially, to cut unemployment benefits 20%. The attack on welfare was unacceptable to the Labour movement. MacDonald wanted to resign, but King George V insisted he remain and form an all-party coalition " National Government ". The Conservative and Liberals parties signed on, along with

6255-530: The Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts. During World War I many countries suspended their gold standard in varying ways. There was high inflation from WWI, and in the 1920s in the Weimar Republic , Austria , and throughout Europe. In the late 1920s there

6394-521: The Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, consumers, many of whom suffered severe losses in the stock market the previous year, cut expenditures by 10%. In addition, beginning in

6533-489: The Federal Reserve did not act to limit the decline of the money supply was the gold standard . At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act , which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit

6672-442: The Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today there is also significant academic support for the debt deflation theory and the expectations hypothesis that – building on the monetary explanation of Milton Friedman and Anna Schwartz – add non-monetary explanations. There

6811-642: The Great Depression. According to the U.S. Senate website, the Smoot–Hawley Tariff Act is among the most catastrophic acts in congressional history. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. Most historians and economists blame the Act for worsening the depression by seriously reducing international trade and causing retaliatory tariffs in other countries. While foreign trade

6950-574: The Ji's palace complex and ascended the Wuzi Terrace. Confucius ordered two officers to lead an assault against the rebels. At least one of the two officers was a retainer of the Ji family, but they were unable to refuse the orders while in the presence of the duke, viscounts, and court. The rebels were pursued and defeated at Gu. Immediately after the revolt was defeated, the Ji family razed the Bi city walls to

7089-481: The New Deal prolonged the Great Depression, as they argue that National Industrial Recovery Act of 1933 and National Labor Relations Act of 1935 restricted competition and established price fixing. John Maynard Keynes did not think that the New Deal under Roosevelt single-handedly ended the Great Depression: "It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on

SECTION 50

#1732780938682

7228-544: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This

7367-490: The U.S. unemployment rate down below 10%. World War II had a dramatic effect on many parts of the American economy. Government-financed capital spending accounted for only 5% of the annual U.S. investment in industrial capital in 1940; by 1943, the government accounted for 67% of U.S. capital investment. The massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending

7506-685: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in

7645-543: The United States, remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36. According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had

7784-638: The Wall Street crash, after which the slide continued for three years, which was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in

7923-478: The authority of the state to the duke by dismantling the fortifications of the city—strongholds belonging to the three families. This way, he could establish a centralized government. However, Confucius relied solely on diplomacy as he had no military authority himself. In 500  BCE , Hou Fan—the governor of Hou—revolted against his lord of the Shu family. Although the Meng and Shu families unsuccessfully besieged Hou,

8062-460: The banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did. With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch . One reason why

8201-473: The basis of their moral merits instead of lineage. These would be rulers devoted to their people, striving for personal and social perfection , and such a ruler would spread his own virtues to the people instead of imposing proper behavior with laws and rules. While Confucius supported the idea of government ruling by a virtuous king, his ideas contained a number of elements to limit the power of rulers. He argued for representing truth in language, and honesty

8340-573: The beginning of the Depression. The Depression was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on the stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until

8479-465: The behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II . Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery, though it did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate

SECTION 60

#1732780938682

8618-862: The building, was designed by Ellis F. Lawrence of the Oregon-based architectural firm Lawrence, Holford, and Allyn. Lawrence was also a driving force in much of the core architecture of the UO campus and was the first Dean of the School of Architecture and Allied Arts . The rich architecture of the building reflects an Art Deco aesthetic with "modernized Lombardy and Greco-Roman" elements as well as many integrated artistic embellishments including "the fifteen stone heads by Edna Dunberg and Louise Utter Pritchard, ornamental memorial gates by O. B. Dawson, carved wooden panels by Arthur Clough, and two large murals painted by Albert and Arthur Runquist." Three major renovations of

8757-407: The centuries after his death, Mencius ( 孟子 ) and Xunzi ( 荀子 ) both composed important teachings elaborating in different ways on the fundamental ideas associated with Confucius. Mencius (4th century  BCE ) articulated the innate goodness in human beings as a source of the ethical intuitions that guide people towards rén , yì , and lǐ , while Xunzi (3rd century  BCE ) underscored

8896-462: The collapse in global trade, contributing to the depression. By 1933, the economic decline pushed world trade to one third of its level compared to four years earlier. While the precise causes for the occurrence of the Great depression are disputed and can be traced to both global and national phenomena, its immediate origins are most conveniently examined in the context of the U.S. economy, from which

9035-508: The courts of these states, he expounded his political beliefs but did not see them implemented. According to the Zuozhuan , Confucius returned home to his native Lu when he was 68, after he was invited to do so by Ji Kangzi, the chief minister of Lu. The Shiji depicts him spending his last years teaching 3000 pupils, with 72 or 77 accomplished disciples that mastered the Six Arts . Meanwhile, Confucius dedicated himself in transmitting

9174-475: The crash was a mere symptom of more general economic trends of the time, which had already been underway in the late 1920s. A contrasting set of views, which rose to prominence in the later part of the 20th century, ascribes a more prominent role to failures of monetary policy . According to those authors, while general economic trends can explain the emergence of the downturn, they fail to account for its severity and longevity; they argue that these were caused by

9313-625: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what

9452-633: The decade. The Depression had devastating economic effects on both wealthy and poor countries: all experienced drops in personal income , prices ( deflation ), tax revenues, and profits. International trade fell by more than 50%, and unemployment in some countries rose as high as 33%. Cities around the world , especially those dependent on heavy industry , were heavily affected. Construction virtually halted in many countries, and farming communities and rural areas suffered as crop prices fell by up to 60%. Faced with plummeting demand and few job alternatives, areas dependent on primary sector industries suffered

9591-408: The depression. Not all governments enforced the same measures of protectionism. Some countries raised tariffs drastically and enforced severe restrictions on foreign exchange transactions, while other countries reduced "trade and exchange restrictions only marginally": The gold standard was the primary transmission mechanism of the Great Depression. Even countries that did not face bank failures and

9730-437: The destruction of the Meng family. Even though Viscount Meng Yi gave his word not to interfere with an attempt, he went back on his earlier promise to dismantle the walls. Later in 498  BCE , Duke Ding of Lu personally went with an army to lay siege to Cheng in an attempt to raze its walls to the ground, but he did not succeed. Thus, Confucius could not achieve the idealistic reforms that he wanted including restoration of

9869-435: The domestic price level to decline ( deflation ). There is also consensus that protectionist policies, and primarily the passage of the Smoot–Hawley Tariff Act , helped to exacerbate, or even cause the Great Depression. Some economic studies have indicated that the rigidities of the gold standard not only spread the downturn worldwide, but also suspended gold convertibility (devaluing the currency in gold terms) that did

10008-402: The drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of

10147-411: The duke and the three viscounts together at the court. Zhong You was one of the disciples of Confucius and Confucius had arranged for him to be given the position of governor by the Ji family. When Confucius heard of the raid, he requested that Viscount Ji Huan allow the duke and his court to retreat to a stronghold on his palace grounds. Thereafter, the heads of the three families and the duke retreated to

10286-464: The duke neglected to send to Confucius a portion of the sacrificial meat that was his due according to custom, and Confucius seized upon this pretext to leave both his post and the Lu state. After Confucius's resignation, he travelled around the principality states of north-east and central China including Wey , Song , Zheng , Cao , Chu , Qi , Chen , and Cai (and a failed attempt to go to Jin ). At

10425-406: The duke of Lu. The duke indulged himself in pleasure and did not attend to official duties for three days. Confucius was disappointed and resolved to leave Lu and seek better opportunities, yet to leave at once would expose the misbehavior of the duke and therefore bring public humiliation to the ruler Confucius was serving. Confucius therefore waited for the duke to make a lesser mistake. Soon after,

10564-427: The economies of Europe in 1937–1939. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. The American mobilization for World War II at the end of 1941 moved approximately ten million people out of the civilian labor force and into the war. This finally eliminated the last effects from the Great Depression and brought

10703-576: The end of the month. A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday , the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop. Thousands of investors were ruined, and billions of dollars had been lost; many stocks could not be sold at any price. The market recovered 12% on Wednesday but by then significant damage had been done. Though

10842-418: The etiquette of daily behavior. Some believed that lǐ originated from the heavens, but Confucius stressed the development of lǐ through the actions of sage leaders in human history. His discussions of lǐ seem to redefine the term to refer to all actions committed by a person to build the ideal society, rather than those conforming with canonical standards of ceremony. In the early Confucian tradition, lǐ

10981-500: The explanations of the Keynesians and monetarists. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating

11120-503: The few women in the labor force, layoffs were less common in the white-collar jobs and they were typically found in light manufacturing work. However, there was a widespread demand to limit families to one paid job, so that wives might lose employment if their husband was employed. Across Britain, there was a tendency for married women to join the labor force, competing for part-time jobs especially. In France, very slow population growth, especially in comparison to Germany continued to be

11259-505: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August

11398-606: The government tried to reshape private household consumption under the Four-Year Plan of 1936 to achieve German economic self-sufficiency. The Nazi women's organizations, other propaganda agencies and the authorities all attempted to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing

11537-457: The ground. The attackers retreated after realizing that they would have to become rebels against the state and their lord. Through Confucius' actions, the Bi officials had inadvertently revolted against their own lord, thus forcing Viscount Ji Huan's hand in having to dismantle the walls of Bi—as it could have harbored such rebels—or confess to instigating the event by going against proper conduct and righteousness as an official. Dubs suggests that

11676-519: The home, or took boarders, did laundry for trade or cash, and did sewing for neighbors in exchange for something they could offer. Extended families used mutual aid—extra food, spare rooms, repair-work, cash loans—to help cousins and in-laws. In Japan, official government policy was deflationary and the opposite of Keynesian spending. Consequently, the government launched a campaign across the country to induce households to reduce their consumption, focusing attention on spending by housewives. In Germany,

11815-447: The incident brought to light Confucius' foresight, practical political ability, and insight into human character. When it was time to dismantle the city walls of the Meng family, the governor was reluctant to have his city walls torn down and convinced the head of the Meng family not to do so. The Zuo Zhuan recalls that the governor advised against razing the walls to the ground as he said that it made Cheng vulnerable to Qi, and cause

11954-527: The initial crisis spread to the rest of the world. In the aftermath of World War I , the Roaring Twenties brought considerable wealth to the United States and Western Europe. Initially, the year 1929 dawned with good economic prospects: despite a minor crash on 25 March 1929, the market seemed to gradually improve through September. Stock prices began to slump in September, and were volatile at

12093-563: The lack of an adequate response to the crises of liquidity that followed the initial economic shock of 1929 and the subsequent bank failures accompanied by a general collapse of the financial markets. After the Wall Street Crash of 1929 , when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with

12232-586: The legitimate rule of the duke. He had made powerful enemies within the state, especially with Viscount Ji Huan, due to his successes so far. According to accounts in the Zuo Zhuan and the Records of the Grand Historian , Confucius departed his homeland in 497  BCE after his support for the failed attempt of dismantling the fortified city walls of the powerful Ji, Meng, and Shu families. He left

12371-496: The library, in 1950, 1966, and 1994, have kept the building up-to-date and it is a daily hub of learning and research to University of Oregon's more than 20,000 students. The $ 27 million renovation in 1994 added 132,000 square feet (12,000 m) to the building. The project was partially funded by Phil Knight , UO alumnus and cofounder of athletic shoe company Nike . The library was renamed Knight Library in honor of Knight's family. Contrary to press reports, which claim Knight financed

12510-521: The market entered a period of recovery from 14 November until 17 April 1930, the general situation had been a prolonged slump. From 17 April 1930 until 8 July 1932, the market continued to lose 89% of its value. Despite the crash, the worst of the crisis did not reverberate around the world until after 1929. The crisis hit panic levels again in December 1930, with a bank run on the Bank of United States ,

12649-414: The mid-1930s, a severe drought ravaged the agricultural heartland of the U.S. Interest rates dropped to low levels by mid-1930, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment remained low. By May 1930, automobile sales declined to below the levels of 1928. Prices, in general, began to decline, although wages held steady in 1930. Then

12788-423: The monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action. This view

12927-524: The more immediate duty of serving one's father, and the remoter one of serving one's prince. "From them we become largely acquainted with the names of birds, beasts, and plants." Confucius frowned upon globalization encroaching on China, especially with music, and he preached against musical influences from Persians , Greco-Bactrians , and Mongols . Confucius's teachings were later turned into an elaborate set of rules and practices by his numerous disciples and followers, who organized his teachings into

13066-502: The most to make recovery possible. Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves , in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets. Japan and the Scandinavian countries followed in 1931. Other countries, such as Italy and

13205-427: The most. The outbreak of World War II in 1939 ended the Depression, as it stimulated factory production, providing jobs for women as militaries absorbed large numbers of young, unemployed men. The precise causes for the Great Depression are disputed. One set of historians, for example, focuses on non-monetary economic causes. Among these, some regard the Wall Street crash itself as the main cause; others consider that

13344-619: The nature of souls . One of the deepest teachings of Confucius may have been the superiority of personal exemplification over explicit rules of behavior. His moral teachings emphasized self-cultivation, emulation of moral exemplars, and the attainment of skilled judgment rather than knowledge of rules. Confucian ethics may, therefore, be considered a type of virtue ethics . His teachings rarely rely on reasoned argument, and ethical ideals and methods are conveyed indirectly, through allusion , innuendo , and even tautology . His teachings require examination and context to be understood. A good example

13483-582: The need to balance the national budget and was unwilling to implement expensive welfare spending . In 1930, Hoover signed the Smoot–Hawley Tariff Act , which taxed imports with the intention of encouraging buyers to purchase American products, which worsened the Depression because foreign governments retaliated with tariffs on American exports. In 1932, Hoover established the Reconstruction Finance Corporation , which offered loans to businesses and support to local governments. In

13622-620: The new Buddhist religion, which gained acceptance during the Southern and Northern Dynasties era. Both Confucian ideas and Confucian-trained officials were relied upon in the Ming dynasty and even the Yuan dynasty , although Kublai Khan distrusted handing over provincial control to them. During the Song dynasty , Confucianism was revitalized in a movement known as Neo-Confucianism. Neo-Confucianism

13761-571: The north facade of the library to 13th Avenue, was added to the National Register of Historic Places in 1990. The quadrangle was part of E. F. Lawrence's design for the UO campus, and is bordered by the Jordan Schnitzer Museum of Art and Chapman Hall on the east, and Prince Lucien Campbell Hall and Condon Hall on the west. The landscaping of the quad includes eight English oak trees planted in 1940. A pavement on

13900-778: The north of Qufu City in Shandong Province. Starting as a humble tomb, the cemetery of Confucius had been expanded by emperors since the Han Dynasty. To date, the Cemetery of Confucius (孔林) covers an area of 183 hectares with more than 100,000 graves of the Kong descendants, it is included in the World Heritage List for its cultural and architectural value. In the Analects , Confucius presents himself as

14039-462: The old wisdom by writing or editing the Five Classics . During his return, Confucius sometimes acted as an advisor to several government officials in Lu, including Ji Kangzi, on matters including governance and crime. Burdened by the loss of both his son and his favorite disciples, he died at the age of 71 or 72 from natural causes. Confucius was buried on the bank of the Sishui River , to

14178-400: The opportunity to put his principles into practice but he gave up on the idea in the end. Confucius disapproved the use of a violent revolution by principle, even though the Ji family dominated the Lu state by force for generations and had exiled the previous duke. Creel states that, unlike the rebel Yang Hu before him, Gongshan may have sought to destroy the three hereditary families and restore

14317-426: The people. Because his vision of personal and social perfections was framed as a revival of the ordered society of earlier times, Confucius is often considered a great proponent of conservatism, but a closer look at what he proposes often shows that he used (and perhaps twisted) past institutions and rites to push a new political agenda of his own: a revival of a unified royal state, whose rulers would succeed to power on

14456-483: The physical volume of exports fall, but also the prices fell by about 1 ⁄ 3 as written. Hardest hit were farm commodities such as wheat, cotton, tobacco, and lumber. Governments around the world took various steps into spending less money on foreign goods such as: "imposing tariffs, import quotas, and exchange controls". These restrictions triggered much tension among countries that had large amounts of bilateral trade, causing major export-import reductions during

14595-480: The policies prolonged the Depression instead of shortening it. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%; in the U.S., the Depression resulted in a 30% contraction in GDP. Recovery varied greatly around the world. Some economies, such as the U.S., Germany and Japan started to recover by the mid-1930s; others, like France, did not return to pre-shock growth rates until later in

14734-459: The political situation in Europe. In their book, A Monetary History of the United States , Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System . Chairman of the Federal Reserve (2006–2014) Ben Bernanke agreed that monetary factors played important roles both in

14873-402: The power of the duke. However, Dubs is of the view that Gongshan was encouraged by Viscount Ji Huan to invade the Lu capital in an attempt to avoid dismantling the Bi fortified walls. Whatever the situation may have been, Gongshan was considered an upright man who continued to defend the state of Lu, even after he was forced to flee. During the revolt by Gongshan, Zhong You had managed to keep

15012-436: The punishment, but have no sense of shame. If they be led by virtue, and uniformity sought to be given them by the rules of propriety, they will have the sense of the shame, and moreover will become good." ( Analects 2.3, tr. Legge). This "sense of shame" is an internalization of duty. Confucianism prioritizes creating a harmonious society over the ruler's interests, opposes material incentives and harsh punishments, and downplays

15151-611: The realistic and materialistic aspects of Confucian thought, stressing that morality was inculcated in society through tradition and in individuals through training. In time, their writings, together with the Analects and other core texts came to constitute the philosophical corpus of Confucianism . This realignment in Confucian thought was parallel to the development of Legalism , which held that humanity and righteousness were not sufficient in government, and that rulers should instead rely on statecrafts, punishments, and law. A disagreement between these two political philosophies came to

15290-578: The role of institutions in guiding behavior as in Legalism , emphasizing moral virtues instead. Confucius looked nostalgically upon earlier days, and urged the Chinese, particularly those with political power, to model themselves on earlier examples. In times of division, chaos, and endless wars between feudal states, he wanted to restore the Mandate of Heaven ( 天命 ) that could unify the "world" ( 天下 , "all under Heaven") and bestow peace and prosperity on

15429-473: The same mural words had been vandalized in 2018. Library staff had posted a statement a week earlier, "We will cover the Knight Library murals that contain racist content by October 1st." The University of Oregon Special Collections & University Archives collects and preserves over 3000 collections of primary sources on a variety of topics. These collections range from rare books, manuscripts, original art, photographs, architectural drawings and many more. It

15568-434: The scale necessary to make the grand experiments which would prove my case—except in war conditions." According to Christina Romer , the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of

15707-480: The seven major disciplines contained in the library's collection. Above the main entry doors (also on the north facade), is a passage from the Bible (John 8:32), which proclaims over the northeast doors "Ye shall know the truth", and over the northwest doors "and the truth shall make you free." The University of Oregon Library and Memorial Quadrangle , which consists of the library and the quadrangle that spans from

15846-409: The south of the memorial quadrangle features several inscriptions: "Wonder, not doubt, is the root of knowledge" — Abraham Joshua Heschel "Who asks, finds" —Arabic proverb "Learning without thought is labor lost. Thought without learning is perilous" — Confucius "Books are humanity in print" — Barbara Tuchman Professional schools: Great Depression The Great Depression

15985-410: The starting point for each individual and that these sacred social functions allow each person's human nature to be harmonious with reality. Given this, Confucius believed that "music is the harmonization of heaven and earth; the rites is the order of heaven and earth". Thus the application of music in rites creates the order that makes it possible for society to prosper. The Confucian approach to music

16124-409: The state of Lu without resigning, remaining in self-exile and unable to return as long as Viscount Ji Huan was alive. The Shiji stated that the neighboring Qi state was worried that Lu was becoming too powerful while Confucius was involved in the government of the Lu state. According to this account, Qi decided to sabotage Lu's reforms by sending 100 good horses and 80 beautiful dancing girls to

16263-413: The subordinates must advise their superiors if the superiors are considered to be taking a course of action that is wrong. Confucius believed in ruling by example, if you lead correctly, orders by force or punishment are not necessary. Confucius heavily promoted the use of music with rituals or the rites order. The scholar Li Zehou argued that Confucianism is based on the idea of rites. Rites serve as

16402-422: The summer of 501  BCE , the three hereditary families had succeeded in expelling Yang Hu from Lu. By then, Confucius had built up a considerable reputation through his teachings, while the families came to see the value of proper conduct and righteousness, so they could achieve loyalty to a legitimate government. Thus, that year (501  BCE ), Confucius came to be appointed to the minor position of governor of

16541-476: The texts and philosophy associated with him were of a more ancient origin. Aphorisms concerning his teachings were compiled in the Analects , but not until many years after his death. The name "Confucius" is a Latinized form of the Mandarin Chinese Kǒng Fūzǐ ( 孔夫子 , "Master Kong"), and was coined in the late 16th century by early Jesuit missionaries to China . Confucius's family name

16680-472: The title of viscount and held hereditary positions in the Lu bureaucracy. The Ji family held the position "Minister over the Masses", who was also the "Prime Minister"; the Meng family held the position "Minister of Works"; and the Shu family held the position "Minister of War". In the winter of 505  BCE , Yang Hu—a retainer of the Ji family—rose up in rebellion and seized power from the Ji family. However, by

16819-478: The walls of Hou, the Ji family in razing the walls of Bi, and the Meng family in razing the walls of Cheng. First, the Shu family led an army towards their city Hou and tore down its walls in 498  BCE . Soon thereafter, Gongshan Furao, a retainer of the Ji family, revolted and took control of the forces at Bi. He immediately launched an attack and entered the capital Lu. Earlier, Gongshan had approached Confucius to join him, which Confucius considered as he wanted

16958-415: The whole project, Knight only financed a portion of the library's renovation. The state government contributed close to two thirds of the cost. In late June 2020 UO officials said the original 1937 portion of Knight Library had been vandalized with paint on the sidewalk and the front door. The vandalism was directed at the phrase "our racial heritage" in a mission statement on a mural. According to KEZI news,

17097-476: The world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and

17236-673: The world. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in political turmoil. With the rise in violence of National Socialist ('Nazi') and Communist movements, as well as investor nervousness at harsh government financial policies, investors withdrew their short-term money from Germany as confidence spiraled downward. The Reichsbank lost 150 million marks in

17375-778: The worldwide economic decline and eventual recovery. Bernanke also saw a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system, and pointed out that the Depression should be examined in an international perspective. Women's primary role was as housewives; without a steady flow of family income, their work became much harder in dealing with food and clothing and medical care. Birthrates fell everywhere, as children were postponed until families could financially support them. The average birthrate for 14 major countries fell 12% from 19.3 births per thousand population in 1930, to 17.0 in 1935. In Canada, half of Roman Catholic women defied Church teachings and used contraception to postpone births. Among

17514-426: Was Kong ( 孔 , OC : *‍ kʰˤoŋʔ ) and his given name was Qiu ( 丘 , OC : *‍ [k]ʷʰə ). His courtesy name , a capping ( guan : 冠 ) given at his coming of age ceremony , and by which he would have been known to all but his older family members, was Zhongni ( 仲尼 , OC : *‍ N-‍truŋ-‍s nr[əj] ), the "Zhòng" indicating that he was the second son in his family. It

17653-539: Was a revival of Confucianism that expanded on classical theories by incorporating metaphysics and new approaches to self-cultivation and enlightenment, influenced by Buddhism and Daoism. The most renowned scholar of this period was Zhu Xi (1130-1200CE). There are clear Buddhist and Daoist influences in the Neo-Confucian advocacy of "quiet sitting" (meditation) as a technique of self-cultivation that leads to transformative experiences of insight." In his life, Zhu Xi

17792-658: Was a scramble to deflate prices to get the gold standard's conversation rates back on track to pre-WWI levels, by causing deflation and high unemployment through monetary policy. In 1933 FDR signed Executive Order 6102 and in 1934 signed the Gold Reserve Act . The two classic competing economic theories of the Great Depression are the Keynesian (demand-driven) and the Monetarist explanation. There are also various heterodox theories that downplay or reject

17931-505: Was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered

18070-478: Was a small part of overall economic activity in the U.S. and was concentrated in a few businesses like farming, it was a much larger factor in many other countries. The average ad valorem (value based) rate of duties on dutiable imports for 1921–1925 was 25.9% but under the new tariff it jumped to 50% during 1931–1935. In dollar terms, American exports declined over the next four years from about $ 5.2 billion in 1929 to $ 1.7 billion in 1933; so, not only did

18209-428: Was doing the proper thing at the proper time; balancing between maintaining existing norms to perpetuate an ethical social fabric, and violating them in order to accomplish ethical good. Training in the lǐ of past sages, cultivates virtues in people that include ethical judgment about when lǐ must be adapted in light of situational contexts. In Confucianism, the concept of li is closely related to yì ( 義 ), which

18348-474: Was endorsed in 2002 by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again. The Federal Reserve allowed some large public bank failures – particularly that of

18487-426: Was given by American economists Milton Friedman and Anna J. Schwartz . They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction ". This caused a price drop of 33% ( deflation ). By not lowering interest rates, by not increasing

18626-530: Was heavily inspired by the Classic of Poetry and the Classic of Music , which was said to be the sixth Confucian classic until it was lost during the Han dynasty . The Classic of Poetry serves as one of the current Confucian classics and is a book on poetry that contains a diversified variety of poems as well as folk songs. Confucius is traditionally ascribed with compiling these classics within his school. In

18765-500: Was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by

18904-446: Was intended. It exacerbated the Great Depression by preventing economic recovery after domestic production recovered, hampering the volume of trade; still there is disagreement as to the precise extent of the Act's influence. In the popular view, the Smoot–Hawley Tariff was one of the leading causes of the depression. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened

19043-444: Was largely ignored, but not long after his death, his ideas became the new orthodox view of what Confucian texts actually meant. Modern historians view Zhu Xi as having created something rather different and call his way of thinking Neo-Confucianism . Neo-Confucianism held sway in China, Japan, Korea, and Vietnam until the 19th century. The works of Confucius were first translated into European languages by Jesuit missionaries in

19182-420: Was of paramount importance. Even in facial expression , truth must always be represented. Confucius believed that if a ruler is to lead correctly, by action, that orders would be unnecessary in that others will follow the proper actions of their ruler. In discussing the relationship between a king and his subject (or a father and his son), he underlined the need to give due respect to superiors. This demanded that

19321-470: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that

#681318