The Commanding Heights: The Battle for the World Economy - Movie Review Example

Commanding Heights Paper The documentary, The Commanding Heights: The Battle for the World Economy. is one that is presented in three episodes that focus on the development the world’s global economic system. As seen in the 1st episode, it is apparent that Maynard Keynes and Friedrich Hayek were competitors in the time after World War 1 (William 2002). In the episode, it is apparent that the concept of Keynesianism gained prominence in the mid 20th century. Communism was also on the rise in this era. This explains the need to develop a market-oriented plan in the USA and the UK (William 2002). As seen in the documentary, there were global recessions in the communist and capitalist countries (William 2002). This leads to the second episode that explained the reforms adopted by the countries to deal with the recession. Most of the countries opted for privatization of their systems especially after the fall of the Soviet Union. Through the documentary, globalization issues have been clearly outlined. The director of the documentary terms this phase as one that incorporates novel rules that will see to the survival of the states (William 2002). Countries experienced uneven distribution of resources especially the ones that were less powerful. A good example is Mexico that saw a drop in their economic systems. On the other hand, the documentary clearly outlines the pleas of the workers and their labor unions that had no voice in the United States (William 2002). To validate his arguments, the director involves the use of interview sessions from leaders of various countries ranging from UK to U.S.A. Economists such as Hayek and Sachs make appearances in the documentary to explain the economic aspects of the times. Policy makers such as Rubin also appear to give their views on the global political economy (William 2002). With this in mind, the audiences are ale to relate with the concept of the market place and the contribution of the governments to the market forces. Through the documentary, one would easily relate to the running of the global financial structure and the forces that run it. This documentary is actually recommended for persons interested with matters economy and the place of the world economy at present. The audiences are able to relate the present day market system and the past. Additionally, it is warranted to argue that the documentary fits its context as one quickly develops an interest in the foreign policies of the countries in the globe, and the strategies applied in terms of military prowess by various governance systems. The title of the documentary fits the contents of the episodes. Through the documentary, it is easy to tell the struggles that the various leaders have gone through to claim their place in the global market system. The contemporary citizens can clearly relate the economic downturns today to the issues that have been raised in the documentary. I would indeed recommend this documentary to finance and economics learners who aim at relating the past issues to the contemporary global economic issues. Work Cited William Cran Dir. Commanding Heights: The Battle for the World Economy. [Documentary]. PBS. TV Mini-Series.2002. Name Course Instructor Date Commanding Heights Paper 2 The documentary, Commanding Heights entails three parts that explain the world’s economy in the 20th century. Through the documentary, the audience is taken through the struggles that existed between the market forces and the government contribution in shaping the same. This struggle, as seen in the documentary is driven by globalization forces (William, 2002). The director uses key personalities in the field of economics- Keynes and Hayek- to explain his views. Through the documentary one can easily tell how Keynes contribution of the government control on the economy was fit for the system. The countries, therefore, opted tom command the heights of the economies. It is at this time that the economies had collapsed (William, 2002). Capitalism saw it lowest moments, while communism was beginning to gain root in many countries. This explains that the leaders felt that it is their role to run and regulate their economies. The documentary also explains that the government would allow its citizens own their own property as well as run their own businesses. The documentary is in line with the title. The governments in question were of the opinion that they are the determiners of the economy. They therefore controlled the major industries such as the finance sector and manufacturing industry. Through regulation, the governments believed that they would get a better outcome as opposed to their having minimal interest in the economy matters. This is in line with the Keynes provisions as seen in the documentary (William, 2002). However, some governments opted to focus on Hayek’s provision on free market as contrasted to government intervention though most states opted for government control proposed by Keynes. The documentary also incorporates the contribution of Mises who also proposed free market (William, 2002). This means that the consumers were to be given an opportunity to air their views even if they will have to fight for their rights. The market system, therefore, as borrowed from the documentary is one that should be free from any form of interference. This can be evidenced form the failure of the Keynesian system that failed in the long run. The Keynesian market is one that was barred by inflation, which stagnated economic growth (William, 2002). The documentary is one that suits its context. Throughout the episodes, the world of economics has been explained from the onset to the end. The struggles of the market and the government are vivid throughout the documentary. This enables the audiences trace the trends of the world economic system since the times of post World War to the present day economy. The collisions that have been presented in the documentary are actually true, as the intrusion of the government in the market system has cost the market a great deal. The documentary is then recommended for economists that aim at evaluating the market liberty and how much the government should contribute to the market. However, the government and the market need to work in tandem if sanity has to be found in the entire fiscal system. Work Cited William Cran Dir. Commanding Heights: The Battle for the World Economy. [Documentary]. PBS. TV Mini-Series.2002. Name Course Instructor Date Commanding Heights Paper 3 The documentary, Commanding Heights is one that has enhanced my understanding on the global economies. The documentary is organized in a sequential manner that has enabled me understand the factors that have shaped the present day economic world. This makes me have the zeal to market the documentary to every person with an interest in the economic world. The documentary explains that there exists the Keynesian system proposed government regulation of the market by the government (William 2002). This system as seen in the documentary was coined by Keynes whom believes in the verity that for the market to be stabilized there needs to be regulation of the market through intervention by the government (William 2002). The government in his opinion would be useful in setting the prices, as opposed to letting the market determine its own forces. These ideas are well drawn in the documentary with real examples. The documentary explains that the Keynesian system would grow and stabilize with time as contrasted to free market that has numerous fluctuations (William 2002). A critical analysis of this documentary leads to a close check of the free market and a government controlled one. In my view, I consider that neither of the schools of thought would be termed applicable and that a balanced system is the most appropriate. This results from the fact that government intervention is necessary as well as a free market. Both of these factors contribute to a successful global market system. I believe that government intervention is useful though the same should be limited to a great extent. In this illustration, it is perceptible that the market will be efficient, and the resources will be distributed. A keener investigation of the documentary would lead to an interpretation of the fact that the market cannot be run without proper skills, as booms and downfalls will always be characteristic of every market (William 2002). If the government attempts to prevent them, perhaps it will be more complex to control a successful market. Less regulation is therefore recommended. The documentary would, therefore, be interpreted to choose the free market as disparate to the Keynesian structure (William 2002). The shift to the free market is undoubtedly evident in the documentary. In this case, states should be prepared for any outcome that ensues from the type of market they will decide to settle on. The documentary is an accepted one as it clearly explains that the results of the World Wars haunted the economic system and the concerned countries have themselves to blame (William 2002). The documentary also brings out the passionate attempt by the concerned governments to bring their economies to life even when their situations seemed on their deepest end (William 2002). This validates the title of the documentary, Commanding Heights. The governments have indeed been on the move to ignite their systems so as to match the demands of the present day economic system. The passion by these governments to suit perfectly in the world system explains why the documentary is valid for the economy classes. Work Cited William, Cran Dir. Commanding Heights: The Battle for the World Economy. [Documentary]. PBS. TV Mini-Series.2002. Read More