Commanding Heights Reflection

Topics: Ludwig von Mises, Capitalism, John Maynard Keynes Pages: 1 (327 words) Published: December 6, 2012
Jenny Zhang
Mr. Tressler

Movie Commanding Heights-1

The economic informed video of Commanding Heights about the battle for the world economy and the role governments spent. The global economy will determine the future of world or nations. The episodes provided the argument between free markets versus set markets and allowed people to understand the distinction between both. I realized the ideas of the economists and the social impact it had towards the people. John Mayer Keynes and Friedrich Hayek, the Austrian versus the Englishman, they had different economic theories that allowed both markets to flourish. However, Keynes decided that the markets of America can be controlled by governments so the consumers can be controlled as if to be under communist-like rule, especially in the late 1900s and the early 21st century, seemed he won the debate. Keynes believed that government in economy is a threat to people, but the major stagflation of the later 1900s, for instance in America and England, proved him wrong again. Back to 1990s, lots of trading telegraph and telephone helped to promote a good global economy or globalization. Hayek believed that socialism is a more just society. But in 1914, the World War I changed this; people began to rethinking the political ideas. By 1918, because the government controlling their own business and most Russians had lost faith in their government, so the workers united against global economy which led to the Russian Revolution and the creation of Soviet Union. One of the most notable conservative of the twentieth century, Ludwig von Mises demonstrated that the expansion of free markets, the division of labor, and private capital investment is the only possible path to the prosperity and flourishing of the human race. Also he indicated that socialism would be disastrous for a modern economy because the absence of private ownership of...
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