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If a country is small in world markets and imports some product at the world price, the country effectively faces a horizontal foreign supply curve for that product. If the country then restricts the volume of imports by imposing an import quota, the effect on the domestic market for that product is to
White Man's Burden
A concept popularized by Rudyard Kipling's poem, suggesting the duty of European and Euro-American peoples to colonize and civilize non-European societies.
Anglo-Saxon Nations
Refers to countries with a dominant cultural heritage stemming from Anglo-Saxon traditions, often associated with English-speaking countries.
Populists
Political actors or movements that seek to represent the interests and voices of ordinary people, often positioning themselves against the elite or established power structures.
Homestead Strike
A major labor strike in 1892 at the Homestead Steel Works in Pennsylvania, notable for its violence and the use of Pinkerton agents.
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