History
Further information: Economy of CzechoslovakiaIts strong industrial tradition dates to the 19th century, when Bohemia and Moravia were the economic heartland of the Austro-Hungarian Empire. Today, this heritage is both an asset and a liability. The Czech Republic has a well-educated population and a well-developed infrastructure, but its industrial plants and much of its industrial equipment are obsolete.
According to the Stalinist development policy of planned interdependence, all the economies of the socialist countries were linked tightly with that of the Soviet Union. With the disintegration of the communist economic alliance in 1991, Czech manufacturers lost their traditional markets among former communist countries to the east.
Read more about this topic: Economy Of The Czech Republic
Famous quotes containing the word history:
“The principle office of history I take to be this: to prevent virtuous actions from being forgotten, and that evil words and deeds should fear an infamous reputation with posterity.”
—Tacitus (c. 55–117)
“There has never been in history another such culture as the Western civilization M a culture which has practiced the belief that the physical and social environment of man is subject to rational manipulation and that history is subject to the will and action of man; whereas central to the traditional cultures of the rivals of Western civilization, those of Africa and Asia, is a belief that it is environment that dominates man.”
—Ishmael Reed (b. 1938)
“We know only a single science, the science of history. One can look at history from two sides and divide it into the history of nature and the history of men. However, the two sides are not to be divided off; as long as men exist the history of nature and the history of men are mutually conditioned.”
—Karl Marx (1818–1883)