Commanding Heights documentary notes Notes meant to amplify the documentary’s points are shown in square brackets. [ ] Episode 1: The Battle of Ideas Friedrich Hayek and John Maynard Keynes were contemporaries and economists with rival views. Their two schools of thought dominated Western economic theory in the 20th century. Each had their period of dominance over the mainstream. Hayek was a believer in free markets whereas Keynes believed in strong government regulation of markets. Lenin
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Agony of Reform: Commanding Heights Part 2 The revolution of the world’s economy in the 20th and 21st centuries was very stressful‚ uncertain‚ and trying. In the 20th century‚ economic foundations were beginning to shift due to deficits and inflation. Economic strategies planned to curve the shift by governments worldwide were beginning to fail and were not fulfilling their projected results. Free-market capitalism was to blame for mass unemployment‚ the recession‚ and inflation that began to
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Commanding Heights Episode 3 Commanding heights: The New Rules is the third film in the series and is about the 21st century economy. PBS sponsored the film under the direction of Michael Sullivan to inform the public about the economic situation. They speak about how the economy adapted to what is today. How the world nationalized third world countries allowing exchange and investment. Episode 3 addresses the current and future problems of a globalized world. That’s the structure of the film.
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Commanding Heights Episode 1 Journal In the first episode of Commanding Heights‚ it begins by showing the world with a global economy that is tremendously suffering by the World War 1 events. After World War I‚ two extremely cerebral economists tried to solve the world’s economic troubles‚ John Meynard Keynes and Friederich Hayek. Keynes had the belief that a government in times of economic despair should spend money and go into a deficit in order to build the economy back up and then when the
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_The Commanding Heights: The Battle of Ideas_ episode explains the economy’s change in structure between 1914 and 1970‚ as well as the functioning of the markets and government during that time. John Maynard Keynes and Friedrich von Hayek both had influential roles on the economy in the 20th century due to their opposing arguments regarding aggregate demand and classical liberalism‚ respectively. Keynes’ "planned economy" idea and Hayek’s "market economy" both fought to shape the economy into what
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Commanding Heights Episode 1 Summary Stephanie Watford The first episode of Commanding Heights begins by showing a world with a global economy that is then torn apart by World War I. Following World War I two young economists emerged that hoped to solve the world’s economic troubles‚ John Meynard Keynes and Friederich Hayek. Keynes put forth the belief that a government in times of economic despair should spend money and go into a deficit in order
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2/8/11 Commanding Heights Journal #1 The commanding heights documentary episode one was actually quite pleasing. I do enjoy documentaries‚ and this was one I really had no prior knowledge of. I believe it will help me see a different side of economics. What stood out to me the most in the film was how post world war one‚ they believed more government control meant better economic outcome. This makes sense of why we had a rise in dictators‚
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political organization. People were looking for something better during this time and that something came in the form of socialism and communism. Western civilization was fascinated by this idea and started owning or regulating the so-called ‘commanding heights’ of the economy. During the period between two World Wars‚ the world experienced the collapse of capitalism and each part of the world tried to manage through by adopting either socialism or communism. Socialism promised a more just society
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Commanding Heights Reflection My initial thought to this video was “What am I supposed to be learning?” As time went on I finally came to realize that there were three main points; socialism‚ Keynes versus Hayek and right wing versus left wing. To begin with I didn’t really understand what the concept socialism compared to capitalism or communism meant. Now I can say that socialism is basically when the government regulates the economy compared to communism which is a bit more liberal but still
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International Business Commanding Heights Essay 1- “The Battle of Ideas” The social and economic catastrophe was one of the worst problems after World War I and lasted through the 20th century. The Battle of Ideas‚ was a battle between the power of government and the forces of the marketplace. For over half of a century‚ the world was moving toward a government control -- from a communist world to a mixed economy. In the 1980s the old policies of these economies began to fail dramatically
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