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OAS: (Organization of American States ) In 1948, 21 nations of the hemisphere met in Bogota, Colombia, to adopt the Charter of the Organization of American States (OAS). Since then, the OAS has expanded to include the nations of the Caribbean, as well as Canada. Currently, all 35 independent countries of the Americas have ratified the OAS Charter and belong to the Organization. Cuba remains a member, but its government has been excluded from participation in the OAS since 1962. The OAS is the region's premier political forum for multilateral dialogue and action. Among OAS' major goals they work for strengthening freedom of speech and thought as a basic human right, promoting greater participation by civil society in decision-making at all levels of government, improving cooperation to address the problem of illegal drugs and supporting the process to create a Free Trade Area of the Americas.

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Lesson 19: Money Creation | Unit 5: Policy Page: 20 of 23

Topic: Control <=PAGE BACK | PAGE NEXT=>

Controlling the money creation process is the key to understanding the role that money plays in the economy.

In the old days:

  • Money was issued by government. With print and mint they had complete control over the quantity of money.
In the modern economy:
  • Checkable deposits are directly under the control of commercial banks. Government must control banks to control money.
Some history:
  • In the late 1800s, banks ran amuck, creating money as they saw fit. The economy experienced perpetual turmoil.
  • In the 1970s and 1980s, S&Ls had instability problems.
  • Since the mid 1980's, money creation has been under control. The economy has been strong and growing.

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AVERAGE PROPENSITY TO SAVE

The proportion of household income that is used for saving. The average propensity to save (abbreviated APS) is really nothing more than average saving. Together with the average propensity to consume, it indicates how a given level of income is divided between consumption and saving. A related saving measure is the marginal propensity to save.

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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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