Indonesia the Republic of Indonesia, is a country in Southeast Asia, between the Indian and Pacific oceans. It is the world's largest island country, with more than seventeen thousand islands, at 1,904,569 square kilometres, the 14th largest by land area and the 7th largest in combined sea and land area. With over 261 million people, it is the world's 4th most populous country as well as the most populous Muslim-majority country. Java, the world's most populous island, is home to more than half of the country's population; the sovereign state is a constitutional republic with an elected parliament. It has 34 provinces. Jakarta, the country's capital, is the second most populous urban area in the world; the country shares land borders with Papua New Guinea, East Timor, the eastern part of Malaysia. Other neighbouring countries include Singapore, the Philippines, Australia and India's Andaman and Nicobar Islands. Despite its large population and densely populated regions, Indonesia has vast areas of wilderness that support a high level of biodiversity.
The country has abundant natural resources like oil and natural gas, tin and gold. Agriculture produces rice, palm oil, coffee, medicinal plants and rubber. Indonesia's major trading partners are China, United States, Japan and India. History of the Indonesian archipelago has been influenced by foreign powers drawn to its natural resources, it has been an important region for trade since at least the 7th century, when Srivijaya and later Majapahit traded with entities from mainland China and the Indian subcontinent. Local rulers absorbed foreign cultural and political models from the early centuries and Hindu and Buddhist kingdoms flourished. Muslim traders and Sufi scholars brought Islam, while European powers brought Christianity and fought one another to monopolise trade in the Spice Islands of Maluku during the Age of Discovery. Although sometimes interrupted by the Portuguese and British, the Dutch were the foremost European power for much of its 350-year presence in the archipelago. In early 20th century, the concept of "Indonesia" as a nation state emerged, independence movements began to take shape.
During the decolonisation of Asia after World War II, Indonesia achieved independence in 1949 following an armed and diplomatic conflict with the Netherlands. Indonesia consists of hundreds of distinct native ethnic and linguistic groups, with the largest—and politically dominant—ethnic group being the Javanese. A shared identity has developed, defined by a national language, ethnic diversity, religious pluralism within a Muslim-majority population, a history of colonialism and rebellion against it. Indonesia's national motto, "Bhinneka Tunggal Ika", articulates the diversity that shapes the country. Indonesia's economy is the world's 16th largest by nominal GDP and the 7th largest by GDP at PPP. Indonesia is a member of several multilateral organisations, including the UN, WTO, IMF and G20, it is a founding member of Non-Aligned Movement, Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, East Asia Summit, Asian Infrastructure Investment Bank and Organisation of Islamic Cooperation.
The name Indonesia derives from the Greek name of the Indos and the word nesos, meaning "Indian islands". The name dates to the 18th century, far predating the formation of independent Indonesia. In 1850, George Windsor Earl, an English ethnologist, proposed the terms Indunesians—and, his preference, Malayunesians—for the inhabitants of the "Indian Archipelago or Malayan Archipelago". In the same publication, one of his students, James Richardson Logan, used Indonesia as a synonym for Indian Archipelago. However, Dutch academics writing in East Indies publications were reluctant to use Indonesia. After 1900, Indonesia became more common in academic circles outside the Netherlands, native nationalist groups adopted it for political expression. Adolf Bastian, of the University of Berlin, popularised the name through his book Indonesien oder die Inseln des Malayischen Archipels, 1884–1894; the first native scholar to use the name was Ki Hajar Dewantara, when in 1913 he established a press bureau in the Netherlands, Indonesisch Pers-bureau.
Fossils and the remains of tools show that the Indonesian archipelago was inhabited by Homo erectus, known as "Java Man", between 1.5 million years ago and 35,000 years ago. Homo sapiens reached the region around 45,000 years ago. Austronesian peoples, who form the majority of the modern population, migrated to Southeast Asia from what is now Taiwan, they arrived around 4,000 years ago, as they spread through the archipelago, confined the indigenous Melanesians to the far eastern regions. Ideal agricultural conditions and the mastering of wet-field rice cultivation as early as the 8th century BCE allowed villages and small kingdoms to flourish by the first century CE; the archipelago's strategic sea-lane position fostered inter-island and international trade, including links with Indian kingdoms and Chinese dynasties, which were established several centuries BCE. Trade has since fundamentally shaped Indonesian history. From the 7th century CE, the powerful Srivijaya naval kingdom flourished as a result of trade and the influences of Hinduism and Buddhism that were imported with it.
Between the 8th and 10th century CE, the agricultural Buddhist Saile
The Goldman Sachs Group, Inc. is an American multinational investment bank and financial services company headquartered in New York City. It offers services in investment management, asset management, prime brokerage, securities underwriting; the bank is one of the largest investment banking enterprises in the world, is a primary dealer in the United States Treasury security market and more a prominent market maker. The bank owns Goldman Sachs Bank USA, a direct bank. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in Lower Manhattan with additional offices in other international financial centers; as a result of its involvement in securitization during the subprime mortgage crisis, Goldman Sachs suffered during the 2007-2008 financial crisis, received a $10 billion investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program, a financial bailout created by the Emergency Economic Stabilization Act of 2008. The investment was made in November 2008 and was repaid in June 2009.
Former employees of Goldman Sachs have moved on to government positions. Notable examples includes former U. S. Secretaries of the Treasury Robert Rubin and Henry Paulson. In addition, former Goldman employees have headed the New York Stock Exchange, the World Bank, competing banks such as Citigroup and Merrill Lynch; the company is ranked 70th on the Fortune 500 list of the largest United States corporations by total revenue. Goldman Sachs was founded in New York in 1869 by Marcus Goldman. In 1882, Goldman's son-in-law Samuel Sachs joined the firm. In 1885, Goldman took his son Henry and his son-in-law Ludwig Dreyfuss into the business and the firm adopted its present name, Goldman Sachs & Co; the company made a name for itself pioneering the use of commercial paper for entrepreneurs and joined the New York Stock Exchange in 1896. By 1898, the firm's capital stood at $1.6 million, was growing rapidly. Goldman entered the initial public offering market in 1906 when it took Sears and Company public.
The deal occurred due to Henry Goldman's personal friendship with an owner of Sears, Julius Rosenwald. Other IPOs followed, including Continental Can. In 1912, Henry S. Bowers became the first non-member of the founding family to become partner of the company and share in its profits. In 1917, under growing pressure from the other partners in the firm due to his pro-German stance, Henry Goldman resigned. Control of the firm was now in the hands of the Sachs family. Waddill Catchings joined the company in 1918. In 1920, the firm moved from 60 Wall Street to $1.5 million 12-storey premises on 30-32 Pine Street. By 1928, Catchings was the Goldman partner with the single largest stake in the firm. On December 4, 1928, the firm launched a closed-end fund; the fund failed during the Stock Market Crash of 1929, amid accusations that Goldman had engaged in share price manipulation and insider trading. In 1930, the firm ousted Catchings, Sidney Weinberg assumed the role of senior partner and shifted Goldman's focus away from trading and toward investment banking.
It was Weinberg's actions. On the back of Weinberg, Goldman was lead advisor on the Ford Motor Company's IPO in 1956, which at the time was a major coup on Wall Street. Under Weinberg's reign the firm started an investment research division and a municipal bond department, it was at this time that the firm became an early innovator in risk arbitrage. Gus Levy joined the firm in the 1950s as a securities trader, which started a trend at Goldman where there would be two powers vying for supremacy, one from investment banking and one from securities trading. For most of the 1950s and 1960s, this would be Levy. Levy was a pioneer in block trading and the firm established this trend under his guidance. Due to Weinberg's heavy influence at the firm, it formed an investment banking division in 1956 in an attempt to spread around influence and not focus it all on Weinberg. In 1969, Levy took over as Senior Partner from Weinberg, built Goldman's trading franchise once again, it is Levy, credited with Goldman's famous philosophy of being "long-term greedy", which implied that as long as money is made over the long term, trading losses in the short term were not to be worried about.
At the same time, partners reinvested all of their earnings in the firm, so the focus was always on the future. That same year, Weinberg retired from the firm. Another financial crisis for the firm occurred in 1970, when the Penn Central Transportation Company went bankrupt with over $80 million in commercial paper outstanding, most of it issued through Goldman Sachs; the bankruptcy was large, the resulting lawsuits, notably by the SEC, threatened the partnership capital and reputation of the firm. It was this bankruptcy that resulted in credit ratings being created for every issuer of commercial paper today by several credit rating services. During the 1970s, the firm expanded in several ways. Under the direction of Senior Partner Stanley R. Miller, it opened its first international office in London in 1970 and created a private wealth division along with a fixed income division in 1972, it pioneered the "white knight" strategy in 1974 during its attempts to defend Electric Storage Battery against a hostile takeover bid from International Nickel and Goldman's rival M
The Mediterranean Sea is a sea connected to the Atlantic Ocean, surrounded by the Mediterranean Basin and completely enclosed by land: on the north by Southern Europe and Anatolia, on the south by North Africa and on the east by the Levant. Although the sea is sometimes considered a part of the Atlantic Ocean, it is identified as a separate body of water. Geological evidence indicates that around 5.9 million years ago, the Mediterranean was cut off from the Atlantic and was or desiccated over a period of some 600,000 years, the Messinian salinity crisis, before being refilled by the Zanclean flood about 5.3 million years ago. It covers an approximate area of 2.5 million km2, representing 0.7 % of the global ocean surface, but its connection to the Atlantic via the Strait of Gibraltar-the narrow strait that connects the Atlantic Ocean to the Mediterranean Sea and separates Spain in Europe from Morocco in Africa- is only 14 km wide. In oceanography, it is sometimes called the Eurafrican Mediterranean Sea or the European Mediterranean Sea to distinguish it from mediterranean seas elsewhere.
The Mediterranean Sea has an average depth of 1,500 m and the deepest recorded point is 5,267 m in the Calypso Deep in the Ionian Sea. The sea is bordered on the north by Europe, the east by Asia, in the south by Africa, it is located between latitudes 30° and 46° N and longitudes 6° W and 36° E. Its west-east length, from the Strait of Gibraltar to the Gulf of Iskenderun, on the southwestern coast of Turkey, is 4,000 km; the sea's average north-south length, from Croatia's southern shore to Libya, is 800 km. The sea was an important route for merchants and travellers of ancient times that allowed for trade and cultural exchange between emergent peoples of the region; the history of the Mediterranean region is crucial to understanding the origins and development of many modern societies. The countries surrounding the Mediterranean in clockwise order are Spain, Monaco, Slovenia, Croatia and Herzegovina, Albania, Turkey, Lebanon, Egypt, Tunisia and Morocco. In addition, the Gaza Strip and the British Overseas Territories of Gibraltar and Akrotiri and Dhekelia have coastlines on the sea.
The Ancient Greeks called the Mediterranean ἡ θάλασσα or sometimes ἡ μεγάλη θάλασσα, ἡ ἡμέτερα θάλασσα, or ἡ θάλασσα ἡ καθ'ἡμᾶς. The Romans called it Mare Mare Internum and, starting with the Roman Empire, Mare Nostrum; the term Mare Mediterrāneum appears later: Solinus used it in the 3rd century, but the earliest extant witness to it is in the 6th century, in Isidore of Seville. It means'in the middle of land, inland' in Latin, a compound of medius, -āneus; the Latin word is a calque of Greek μεσόγειος, from μέσος and γήινος, from γῆ. The original meaning may have been'the sea in the middle of the earth', rather than'the sea enclosed by land'; the Carthaginians called it the "Syrian Sea". In ancient Syrian texts, Phoenician epics and in the Hebrew Bible, it was known as the "Great Sea" or as "The Sea". Another name was the "Sea of the Philistines", from the people inhabiting a large portion of its shores near the Israelites. In Modern Hebrew, it is called HaYam HaTikhon'the Middle Sea'. In Modern Arabic, it is known as al-Baḥr al-Mutawassiṭ'the Middle Sea'.
In Islamic and older Arabic literature, it was Baḥr al-Rūm'the Sea of the Romans' or'the Roman Sea'. At first, that name referred to only the Eastern Mediterranean, but it was extended to the whole Mediterranean. Other Arabic names were Baḥr al-šām'the Sea of Syria' and Baḥr al-Maghrib'the Sea of the West'. In Turkish, it is the Akdeniz'the White Sea'; the origin of the name is not clear, as it is not known in earlier Greek, Byzantine or Islamic sources. It may be to contrast with the Black Sea. In Persian, the name was translated as Baḥr-i Safīd, used in Ottoman Turkish, it is the origin of the colloquial Greek phrase Άσπρη Θάλασσα. Johann Knobloch claims that in Classical Antiquity, cultures in the Levant used colours to refer to the cardinal points: black referred to the north, yellow or blue to east, red to south, white to west; this would explain both the Turkish Akdeniz and the Arab nomenclature described above. Several ancient civilizations were located around the Mediterranean shores and were influenced by their proximity to the sea.
It provided routes for trade and war, as well as food for numerous communities throughout the ages. Due to the shared climate and access to the sea, c
Egypt the Arab Republic of Egypt, is a country spanning the northeast corner of Africa and southwest corner of Asia by a land bridge formed by the Sinai Peninsula. Egypt is a Mediterranean country bordered by the Gaza Strip and Israel to the northeast, the Gulf of Aqaba and the Red Sea to the east, Sudan to the south, Libya to the west. Across the Gulf of Aqaba lies Jordan, across the Red Sea lies Saudi Arabia, across the Mediterranean lie Greece and Cyprus, although none share a land border with Egypt. Egypt has one of the longest histories of any country, tracing its heritage back to the 6th–4th millennia BCE. Considered a cradle of civilisation, Ancient Egypt saw some of the earliest developments of writing, urbanisation, organised religion and central government. Iconic monuments such as the Giza Necropolis and its Great Sphinx, as well the ruins of Memphis, Thebes and the Valley of the Kings, reflect this legacy and remain a significant focus of scientific and popular interest. Egypt's long and rich cultural heritage is an integral part of its national identity, which has endured, assimilated, various foreign influences, including Greek, Roman, Ottoman Turkish, Nubian.
Egypt was an early and important centre of Christianity, but was Islamised in the seventh century and remains a predominantly Muslim country, albeit with a significant Christian minority. From the 16th to the beginning of the 20th century, Egypt was ruled by foreign imperial powers: The Ottoman Empire and the British Empire. Modern Egypt dates back to 1922, when it gained nominal independence from the British Empire as a monarchy. However, British military occupation of Egypt continued, many Egyptians believed that the monarchy was an instrument of British colonialism. Following the 1952 revolution, Egypt expelled British soldiers and bureaucrats and ended British occupation, nationalized the British-held Suez Canal, exiled King Farouk and his family, declared itself a republic. In 1958 it merged with Syria to form the United Arab Republic, which dissolved in 1961. Throughout the second half of the 20th century, Egypt endured social and religious strife and political instability, fighting several armed conflicts with Israel in 1948, 1956, 1967 and 1973, occupying the Gaza Strip intermittently until 1967.
In 1978, Egypt signed the Camp David Accords withdrawing from the Gaza Strip and recognising Israel. The country continues to face challenges, from political unrest, including the recent 2011 revolution and its aftermath, to terrorism and economic underdevelopment. Egypt's current government is a presidential republic headed by President Abdel Fattah el-Sisi, described by a number of watchdogs as authoritarian. Islam is the official religion of Egypt and Arabic is its official language. With over 95 million inhabitants, Egypt is the most populous country in North Africa, the Middle East, the Arab world, the third-most populous in Africa, the fifteenth-most populous in the world; the great majority of its people live near the banks of the Nile River, an area of about 40,000 square kilometres, where the only arable land is found. The large regions of the Sahara desert, which constitute most of Egypt's territory, are sparsely inhabited. About half of Egypt's residents live in urban areas, with most spread across the densely populated centres of greater Cairo and other major cities in the Nile Delta.
The sovereign state of Egypt is a transcontinental country considered to be a regional power in North Africa, the Middle East and the Muslim world, a middle power worldwide. Egypt's economy is one of the largest and most diversified in the Middle East, is projected to become one of the largest in the world in the 21st century. In 2016, Egypt became Africa's second largest economy. Egypt is a founding member of the United Nations, Non-Aligned Movement, Arab League, African Union, Organisation of Islamic Cooperation. "Miṣr" is the Classical Quranic Arabic and modern official name of Egypt, while "Maṣr" is the local pronunciation in Egyptian Arabic. The name is of Semitic origin, directly cognate with other Semitic words for Egypt such as the Hebrew "מִצְרַיִם"; the oldest attestation of this name for Egypt is the Akkadian "mi-iṣ-ru" related to miṣru/miṣirru/miṣaru, meaning "border" or "frontier". There is evidence of rock carvings in desert oases. In the 10th millennium BCE, a culture of hunter-gatherers and fishers was replaced by a grain-grinding culture.
Climate changes or overgrazing around 8000 BCE began to desiccate the pastoral lands of Egypt, forming the Sahara. Early tribal peoples migrated to the Nile River where they developed a settled agricultural economy and more centralised society. By about 6000 BCE, a Neolithic culture rooted in the Nile Valley. During the Neolithic era, several predynastic cultures developed independently in Upper and Lower Egypt; the Badarian culture and the successor Naqada series are regarded as precursors to dynastic Egypt. The earliest known Lower Egyptian site, predates the Badarian by about seven hundred years. Contemporaneous Lower Egyptian communities coexisted with their southern counterparts for more than two thousand years, remaining culturally distinct, but maintaining frequent contact through trade; the earliest known evidence of Egyptian hieroglyphic inscriptions appeared during the predynastic period on Naqada III pottery vessels, dated to about 3200 BCE. A unified kingdom was founded c. 3150 BCE
The Red Sea is a seawater inlet of the Indian Ocean, lying between Africa and Asia. The connection to the ocean is in the Gulf of Aden. To the north lie the Sinai Peninsula, the Gulf of Aqaba, the Gulf of Suez; the Red Sea is a Global 200 ecoregion. The sea is underlain by the Red Sea Rift, part of the Great Rift Valley; the Red Sea has a surface area of 438,000 km2, is about 2250 km long and, at its widest point, 355 km wide. It has a maximum depth of 3,040 m in the central Suakin Trough, an average depth of 490 m. However, there are extensive shallow shelves, noted for their marine life and corals; the sea is the habitat of over 1,000 invertebrate species, 200 soft and hard corals. It is the world's northernmost tropical sea; the International Hydrographic Organization defines the limits of the Red Sea as follows: On the North. The Southern limits of the Gulfs of Suez and Aqaba. On the South. A line joining Husn Murad and Ras Siyyan. Red Sea is a direct translation of the Greek Erythra Thalassa, Latin Mare Rubrum, Arabic: البحر الأحمر, translit.
Al-Baḥr Al-Aḥmar, Somali Badda Cas and Tigrinya Qeyyiḥ bāḥrī. The name of the sea may signify the seasonal blooms of the red-coloured Trichodesmium erythraeum near the water's surface. A theory favoured by some modern scholars is that the name red is referring to the direction south, just as the Black Sea's name may refer to north; the basis of this theory is that some Asiatic languages used colour words to refer to the cardinal directions. Herodotus on one occasion uses Red Southern Sea interchangeably; the name in Hebrew Yam Suph (Hebrew: ים סוף, lit.'Sea of Reeds' is of biblical origin. The name in Coptic: ⲫⲓⲟⲙ `ⲛϩⲁϩ Phiom Enhah is connected to Egyptian root ḥḥ which refers to water and sea, it was known to western geographers as Mare Mecca, Sinus Arabicus. Some ancient geographers called the Red Sea the Arabian Gulf of Arabia; the association of the Red Sea with the biblical account of the Israelites crossing the Red Sea is ancient, was made explicit in the Septuagint translation of the Book of Exodus from Hebrew to Koine Greek in the third century B.
C. In that version, the Yam Suph is translated as Erythra Thalassa; the Red Sea is one of four seas named in English after common color terms — the others being the Black Sea, the White Sea and the Yellow Sea. The direct rendition of the Greek Erythra thalassa in Latin as Mare Erythraeum refers to the north-western part of the Indian Ocean, to a region on Mars; the earliest known exploration of the Red Sea was conducted by ancient Egyptians, as they attempted to establish commercial routes to Punt. One such expedition took place around 2500 BC, another around 1500 BC. Both involved long voyages down the Red Sea. Scholars argued whether these trips were possible; the biblical Book of Exodus tells the account of the Israelites' crossing of a body of water, which the Hebrew text calls Yam Suph. Yam Suph was traditionally identified as the Red Sea. Rabbi Saadia Gaon, in his Judeo-Arabic translation of the Pentateuch, identifies the crossing place of the Red Sea as Baḥar al-Qulzum, meaning the Gulf of Suez.
In the 6th century BC, Darius the Great of Persia sent reconnaissance missions to the Red Sea and extending navigation by locating many hazardous rocks and currents. A canal was built between the northern end of the Red Sea at Suez. In the late 4th century BC, Alexander the Great sent Greek naval expeditions down the Red Sea to the Indian Ocean. Greek navigators continued to compile data on the Red Sea. Agatharchides collected information about the sea in the 2nd century BC; the Periplus of the Erythraean Sea, a Greek periplus written by an unknown author around the 1st century AD, contains a detailed description of the Red Sea's ports and sea routes. The Periplus describes how Hippalus first discovered the direct route from the Red Sea to India; the Red Sea was favored for Roman trade with India starting with the reign of Augustus, when the Roman Empire gained control over the Mediterranean and the northern Red Sea. The route grew in the volume of traffic under the Romans. From Indian ports goods from China were introduced to the Roman world.
Contact between Rome and China depended on the Red Sea, but the route was broken by the Aksumite Empire around the 3rd century AD. During the Middle Ages, the Red Sea was an important part of the spice trade route. In 1513, trying to secure that channel to Portugal, Afonso de Albuquerque laid siege to Aden but was forced to retreat, they cruised the Red Sea inside the Bab al-Mandab, as the first European fleet to have sailed these waters. In 1798, France ordered General Napoleon to take control of the Red Sea. Although he failed in his mission, the engineer Jean-Baptiste Lepère, wh
Latin America is a group of countries and dependencies in the Western Hemisphere where Romance languages such as Spanish and French are predominantly spoken. The term "Latin America" was first used in an 1856 conference with the title "Initiative of the America. Idea for a Federal Congress of the Republics", by the Chilean politician Francisco Bilbao; the term was used by Napoleon III's French government in the 1860s as Amérique latine to consider French-speaking territories in the Americas, along with the larger group of countries where Spanish and Portuguese languages prevailed, including the Spanish-speaking portions of the United States Today, areas of Canada and the United States where Spanish and French are predominant are not included in definitions of Latin America. Latin America consists of 13 dependencies and 20 countries which cover an area that stretches from the northern border of Mexico to the southern tip of South America, including the Caribbean, it has an area of 19,197,000 km2 13% of the Earth's land surface area.
As of 2016, its population was estimated at more than 639 million and in 2014, Latin America had a combined nominal GDP of US$5,573,397 million and a GDP PPP of 7,531,585 million USD. The idea that a part of the Americas has a linguistic affinity with the Romance cultures as a whole can be traced back to the 1830s, in the writing of the French Saint-Simonian Michel Chevalier, who postulated that this part of the Americas was inhabited by people of a "Latin race", that it could, ally itself with "Latin Europe" overlapping the Latin Church, in a struggle with "Teutonic Europe", "Anglo-Saxon America" and "Slavic Europe". Further investigations of the concept of Latin America are by Michel Gobat in the American Historical Review, the studies of Leslie Bethell, the monograph by Mauricio Tenorio-Trillo, Latin America: The Allure and Power of an Idea. Historian John Leddy Phelan (located the origins of “Latin America” in the French occupation of Mexico, his argument is that French imperialists used the concept of "Latin" America as a way to counter British imperialism, as well as to challenge the German threat to France.
The idea of a "Latin race" was taken up by Latin American intellectuals and political leaders of the mid- and late-nineteenth century, who no longer looked to Spain or Portugal as cultural models, but rather to France. French ruler Napoleon III had a strong interest in extending French commercial and political power in the region he and his business promoter Felix Belly called “Latin America” to emphasize the shared Latin background of France with the former colonies of Spain and Portugal; this led to Napoleon's failed attempt to take military control of Mexico in the 1860s. However, though Phelan thesis is still mentioned in the U. S. academy, two Latin American historians, the Uruguayan Arturo Ardao and the Chilean Miguel Rojas Mix proved decades ago that the term "Latin America" was used earlier than Phelan claimed, the first use of the term was opposite to support imperialist projects in the Americas. Ardao wrote about this subject in his book Génesis de la idea y el nombre de América latina, Miguel Rojas Mix in his article "Bilbao y el hallazgo de América latina: Unión continental, socialista y libertaria".
As Michel Gobat reminds in his article "The Invention of Latin America: A Transnational History of Anti-Imperialism and Race", "Arturo Ardao, Miguel Rojas Mix, Aims McGuinness have revealed the term'Latin America' had been used in 1856 by Central and South Americans protesting U. S. expansion into the Southern Hemisphere". Edward Shawcross summarizes Ardao's and Rojas Mix's findings in the following way: "Ardao identified the term in a poem by a Colombian diplomat and intellectual resident in France, José María Torres Caicedo, published on 15 February 1857 in a French based Spanish-language newspaper, while Rojas Mix located it in a speech delivered in France by the radical liberal Chilean politician Francisco Bilbao in June 1856". So, regarding when the words "Latin" and "America" were combined for the first time in a printed work, the term "Latin America" was first used in 1856 in a conference by the Chilean politician Francisco Bilbao in Paris; the conference had the title "Initiative of the America.
Idea for a Federal Congress of Republics." The following year the Colombian writer José María Torres Caicedo used the term in his poem "The Two Americas". Two events related with the U. S. played a central role in both works. The first event happened less than a decade before the publication of Bilbao's and Torres Caicedo works: the Mexican–American War, after which Mexico lost a third of its territory; the second event, the Walker affair, happened the same year both works were written: the decision by U. S. president Franklin Pierce to recognize the regime established in Nicaragua by American William Walker and his band of filibusters who ruled Nicaragua for nearly a year and attempted to reinstate slavery there, where it had been abolished for three decades In both Bilbao's and Torres Caicedo's works, the Mexican-American War and Walker's expedition to Nicaragua are explicitly mentioned as examples of dangers for the region. For Bilbao, "Latin America" w
Economic inequality covers a wide variety of topics. It can refer to the distribution of wealth. Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth and consumption. There are many methods for measuring economic inequality, with the Gini coefficient being a used one. Another type of measure is the Inequality-adjusted Human Development Index, a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, equality of opportunity. Research suggests. Whereas globalization has reduced global inequality, it has increased inequality within nations. In 1820, the ratio between the income of the top and bottom 20 percent of the world's population was three to one. By 1991, it was eighty-six to one. A 2011 study titled "Divided we Stand: Why Inequality Keeps Rising" by the Organisation for Economic Co-operation and Development sought to explain the causes for this rising inequality by investigating economic inequality in OECD countries.
Single-headed households in OECD countries have risen from an average of 15% in the late 1980s to 20% in the mid-2000s, resulting in higher inequality. Assortative mating refers to the phenomenon of people marrying people with similar background, for example doctors marrying doctors rather than nurses. OECD found out that 40% of couples where both partners work belonged to the same or neighbouring earnings deciles compared with 33% some 20 years before. In the bottom percentiles number of hours worked; the main reason for increasing inequality seems to be the difference between the demand for and supply of skills. Income inequality in OECD countries is at its highest level for the past half century; the ratio between the bottom 10 % and the top 10 % has increased to 1:9 in 25 years. There are tentative signs of a possible convergence of inequality levels towards a common and higher average level across OECD countries. With few exceptions, the wages of the 10% best-paid workers have risen relative to those of the 10% lowest paid.
A 2011 OECD study investigated economic inequality in Argentina, China, Indonesia and South Africa. It concluded that key sources of inequality in these countries include "a large, persistent informal sector, widespread regional divides, gaps in access to education, barriers to employment and career progression for women."A study by the World Institute for Development Economics Research at United Nations University reports that the richest 1% of adults alone owned 40% of global assets in the year 2000. The three richest people in the world possess more financial assets than the lowest 48 nations combined; the combined wealth of the "10 million dollar millionaires" grew to nearly $41 trillion in 2008. A January 2014 report by Oxfam claims that the 85 wealthiest individuals in the world have a combined wealth equal to that of the bottom 50% of the world's population, or about 3.5 billion people. According to a Los Angeles Times analysis of the report, the wealthiest 1% owns 46% of the world's wealth.
In January 2015, Oxfam reported that the wealthiest 1 percent will own more than half of the global wealth by 2016. An October 2014 study by Credit Suisse claims that the top 1% now own nearly half of the world's wealth and that the accelerating disparity could trigger a recession. In October 2015, Credit Suisse published a study which shows global inequality continues to increase, that half of the world's wealth is now in the hands of those in the top percentile, whose assets each exceed $759,900. A 2016 report by Oxfam claims that the 62 wealthiest individuals own as much wealth as the poorer half of the global population combined. Oxfam's claims have however been questioned on the basis of the methodology used: by using net wealth, the Oxfam report, for instance, finds that there are more poor people in the United States and Western Europe than in China. Anthony Shorrocks, the lead author of the Credit Suisse report, one of the sources of Oxfam's data, considers the criticism about debt to be a "silly argument" and "a non-issue … a diversion."
Oxfam's 2017 report says the top eight billionaires have as much wealth as the bottom half of the global population, that rising inequality is suppressing wages, as businesses are focused on delivering higher returns to wealthy owners and executives. In 2018, the Oxfam report said that the wealth gap continued to widen in 2017, with 82% of global wealth generated going to the wealthiest 1%; the 2019 Oxfam report said that the poorest half of the human population has been losing wealth at the same time that a billionaire is minted every two days. According to PolitiFact, the top 400 richest Americans "have more wealth than half of all Americans combined." According to The New York Times on July 22, 2014, the "richest 1 percent in the United States now own more wealth than the bottom 90 percent". Inherited wealth may help explain why many Americans who have become rich may have had a "substantial head start". In September 2012, according to the Institute for Policy Studies (I