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What is Anglo Saxon?

The Anglo-Saxons were a group of Germanic tribes who inhabited Great Britain from the 5th century until the Norman Conquest of 1066. They were composed of three main tribes: the Angles, Saxons, and Jutes. The culture and language of these people is known as Old English, or Anglo-Saxon. This period in history saw the emergence of England as a nation state and had a major influence on the development of modern English language and culture. The origin of the Anglo-Saxons is somewhat mysterious, but it appears that they may have come from northern Germany or Scandinavia during the 5th century CE. Many scholars believe that they may have been invited by King Vortigern to help defend Britain against invading Picts and Scots in return for land grants. It is also possible that they migrated voluntarily in search of new lands to settle in. In any case, by 600 CE they had established control over much of what would later become England (as well as parts of Wales and Scotland). The Anglo-Saxon period was an important part of British history it was during this time that England became a unified nation state with its own laws, customs, language, and literature. The early kings such as Alfred the Great laid down many laws which set out how society should be organised some aspects (such as trial by jury) remain part of British law today. Anglo-Saxon literature was mostly oral in nature but there are some surviving written texts from this period such as Beowulf (the oldest surviving epic poem written in Old English). Other works include heroic poems about famous battles or legendary heroes like King Arthur; Christian miracle stories; riddles; ˜wisdom’ poems; elegies for dead warriors; and many more. These works demonstrate how richly developed their culture had become by this time – something which still influences us today. In conclusion, it is clear to see why we owe so much to our Anglo-Saxon ancestors not only did they lay down many laws which are still applied today but their literature has also been an important influence on our own culture and language over time.

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What are the difference between Anglo Saxon model and European model?
The concept is greatly different the Anglo Saxon model has its historical origin in Great Britain and is patterned after the classical liberal idea of Adam Smith and the classical precepts of classical liberalism. The European model uses economic idea enunciated in France and Germany in 10th century that place less faith in the invisible hand and call for more state intervention in economic affairs. “It is legal foundation is based on what James Buchanan in terms the constitutional order of socialism” Asian model focus on high rate of capital foundation and an either devices, often supported by the state. The patter of ownership has different characteristics. For example, The Anglo-Saxon model is widely held corporation dominate. European and Asian model are state-owned and family owned corporation are common. Especially Medium-sized companies. Apart from Japan, most of countries are family owned. How they raise capital is different. Anglo-Saxon model gain from through stock and bonds market. But in Asia and European model. Capital are coming from the bank. They are more dependent on the credit. The role of government is also different. The size of government is measured by its spending and taxation. Anglo-Saxon model is relatively small but European is relatively large. The European countries have uniformly high share of the state in overall economic activities. The economic of freedom is also different. Main questions can be asked such as Are business free to invest as they wish? Are they overburdened by taxes? Are their property right secure etc? Anglo-Saxon model countries tend to have a stronger economic freedom score than that of EU and Asian The Legal System The European model use civil law which is a legal system in which law are written and codified and are not determined by judges based on custom or precedents originally from France. The Anglo Saxon model use common law which is a system based on custom and precedent rather than a written legal code. In USA, high labor mobility and short tenure Labor union play an important role in EU
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***Anglo Saxon Racism
– revival of the Klan – wanted 100% Americans – Native born white Protestants – No Blacks, Catholics, Jews, or immigrants
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What is characteristic of the Anglo Saxon?
The Anglo Saxon model is a benchmark in neoclassical economics well developed product and factor market. It is done by on the spot transaction. Unlike Eu and Asia. In Anglo Saxon model county they use common law which is system based on custom and precedent rather than a written legal code. In US legal system superior appeals court ensure that common law produces consistent law even-thought different judges may rule differently in their own jurisdictions. Hayke notion of spontaneous order, if a legal system lead no inefficient, outcomes, it will appraiser over time as more efficient rule show it to be inferior. The more importantly, business organization and cooperate governance is different from Europe. Firm objects is for short run is profit maximization and for long term market maximization of market capitalization. Share is largely owned by individual and institutional investors. The US especially tends to be run in the interest of shareholders more than in other countries. Managers have the job of maximization shareholder values. Firms are easily to obtain external funds by issuing new shares and bonds. Corporate motivate managers and executive members by a stock option, golden parachute and matching employee contribution to their 401 K retirement account invested in corporation market stock. Venture capital is the US capital market promotes dynamic change by moving capital around quickly. In Anglo Saxon, the government does not define clear priorities in economic affairs. The government sees itself as watching-dog for private excesses. The government intends to correct market and imperfection. The weakness of the US system, weak regulation and decentralization of decision making result in high cost and poor outcomes in the presence of market failure. For example, medical care, primary and secondary education/ In the 1960s and 1970s, the high cost and inefficient regulation promoted a management toward deregulation. It can leads to lower price for most but all customers and the diversity of choice and more freedom of choice. American trade unions are more decentralized than their counterpart in EU. More authority rests with local unions. US labor union does not bargain at national level. The labor market in Anglo Saxon model if flexible labor market. especially in US. employee freedom to hire and fire employees and change condition of work and pay with free restrictions. It is a liquid labor market, unlike EU, Long term unemployment was rare. Labor turnover is high, Labor trade is mobile, unemployment rate fluctuated widely.
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