Udita Upadhyaya Roll Number 82 Executive Summary: Commanding Heights • Episode 1: The Battle of Ideas begs a comparison between socialism and capitalism. • It traces the world’s economic history from the early 1900’s to the events following 9/11. • Asks the question which is a better and more foolproof economic system government control or free markets? • It delves into how the First World War impacted two brilliant economists‚ Keynes and Hayek. And then follows
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12/05/2012 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
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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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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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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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Battle of the Ideas: A review of economic concepts ECON-101 Amara Henderson-Graham Grandview University Professor David W. Hannum October 9th‚ 2012 Commanding Heights: Battle of Ideas The neoclassical counterrevolution was a response to the interventionist dependence revolution of the 1970’s which has diagnosed the problem of underdevelopment to be due to the predatory behavior of the developed world. The neoliberal school of thought redefined underdevelopment instead to
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The “Battle’ in this documentary is basically the struggle between free market and increased government control in the era characterized by globalization. These economic revolutions that would follow would turn out to determine the future of our planet. Essentially‚ it was John Maynard Keynes v. Friedrich von Hayek‚ two of the most well-known economists of their time. Keynes could see the faults of free market in the time after the war and that all of those errors could be fixed if the government
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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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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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