Commanding heights episode 3 summary full#
Commanding heights episode 3 summary series#

Keynes ideas were for the government to spend money to keep full employment even if it meant bringing shortfall. We Will Write a Custom Essay Specifically He decided to write a book that explained why and how this Great Depression had came about and what the government should do the prevent such an economic downfall from happening again. When the government decided they needed to figure out a plan, John Keynes had stepped up and told his theory to save the economy from this Great Depression. This is where the government decided for their economy that they are indeed in need of a plan to bounce back from this crash. By 1929, the markets began to crash, banks closed and over millions of people lost their money.

when they begun to print more and more money, it had caused hyperinflation. This being nearly impossible for them, they began to print much more money in the order to reimburse for the funds they do not have. When the first world war ended, Austria and Germany had been forced to pay for the costs of the war. Keynes argument had been the most successful between the two.

Both these people had fought for their own ideas on what would shape modern day society for the ideal person. Hayek believed in the вЂњmarketвЂќ economy idea rather than Keynes вЂњplannedвЂќ economy idea. In the 20th century Friedrich Von Hayek and John Maynard Keynes were very influential to the economy because of their opposing arguments regarding classical liberalism and aggregate demand.

Commanding heights episode 3 summary series#

This is a four-part documentary series hosted by Conor Woodman, in which Conor Woodman travels to various countries around the world to buy products from certain regions and later sell them to other countries for a profit.ДЄt an early point they settled on the title 'Age of Uncertainty' to reflect the sharp contrast between the great certainty in 19th century economic thought with the much less assured views in modern times.Commanding Heights Episode 1- Battle of Ideas The Commanding Heights: The Battle of Ideas explains how the structure of the economy changed during the 19 and how the government and the markets functioned during those times. The Ascent of Money is a six-part documentary series presented by Niall Ferguson, examining the long history of money, credit, and banking. This is a four-part CBC documentary series written and directed by Terence Mckenna, telling the story of the bankers who crashed the world, the leaders who struggled to save it and the ordinary families who got crushed. Meltdown: The Secret History of the Global Financial Collapse The Commanding Heights: The Battle for the World Economy is a book by Daniel Yergin and Joseph Stanislaw, first published as The Commanding Heights: The Battle Between Government and the Marketplace That Is Remaking the Modern World in 1998. This episode examines the promise and perils of globalization in the 1990s, focusing on the story of President Bill Clinton's embrace of free-trade policies, the challenges the world's leaders faced in taming the virulent contagion of financial collapse in the developing world, and the violent debate over globalization that suddenly surfaced in the Seattle protests. This episode focuses in detail on how reform played out in several countries - Russia, Poland, India, Bolivia, and Chile - as they lived through the upheavals of rapid change, dealing with both the new freedoms and the new dangers of privatization, deregulation, and freewheeling competition. Looking at two major competing ideas about the world economy: the 'planned economy' favored by John Maynard Keynes and the 'free market' favored by Friedrich von Hayek, this episode tells the story of how, for half a century, the world moved toward more government control - from the centrally planned economies of the communist world to the United States' regulated capitalism - and then began to move away. The third and final episode 'The New Rules of the Game' examines the promise and perils of The second episode 'The Agony of Reform'ДЇocuses on how reform played out in several countries - Russia, Poland, India, Bolivia, and Chile - as they lived through The first episode 'The Battle of Ideas' takes a look at two major competing ideas about the world economy: the 'planned economy'ДЇavored by John Maynard Keynes and the 'free market' favored by Friedrich von Hayek. The series provides an understanding of globalization, world trade,ДЄnd economic development, including the forces and ideas that have shaped the present global economic system. The same name by Daniel Yergin and Joseph Stanislaw. Commanding Heights: The Battle for the World EconomyД¬ommanding Heights: The Battle for the World Economy is a PBS documentary series based on the book under