Free Essay

Commanding Heights Reaction

In: Business and Management

Submitted By moii90
Words 837
Pages 4
In that part, it was more focused on the battle of ideas between John Maynard Keynes and 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 regulated the economy. However, Hayek thought that the free market would fix itself, with no government control. World War I laid a whole continent to waste and drew attention to the problems of 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, Hayek was more concerned for the poor and equity. He believed that people needed to be free from government interference and that markets work and governments don’t. His ideas were based on a fully functioning function free market system without regulations, which were also the ideas of Ludwig Von Mises. Mises was a libertarian who believed that markets always needed to be free from government meddling and he argued that socialist states cannot be successful because they lack a functioning price system to send the signals to consumers and producers. Therefore, after World War II, Keynesian view became a widespread view in the world economy. American cities boomed in the 1920s, with people spending tons of money, partying, and buying the most expensive items they could get their hands on. Stock and the New York Stock Exchange became somewhat of a national pastime, where stocks just continued to boom. However, on Black Thursday, stocks prices plunged and the downward spiral could not be stopped. During the 30s, values and prices spiraled downward and left people with no ability to earn, repay, spend, or consume. The banks also went down with it and people tried to rush to withdraw all of their savings. Millions of people lost everything and the government could not do anything about it, but instead made it worse. There was extremely high unemployment. Keynes was the real inventor of macroeconomics during these time period, as well as GDP, rate of inflation, and many other things. When Roosevelt came into office, he had to face the debt and his confidence rallied the whole nation, along with the New Deal. He created new agencies to regulate banks and the stock markets. Under the New Deal, industry came under many new rules and regulations. Keynes ideas began to gain ground during this time and World War II is what it took for his theories to become government policies. As the war began, high unemployment ended and the depression was gone, which was a demonstration of Keynesian ideas.
Commanding heights derives from Lenin’s speech, who appealed to those who criticize his amendments regarding the Marxist economics, that as long as the government owns the major industries such as oil, finance, and steel, it is okay to let individuals have some of their properties. The Keynesian idea states that the government must have control over the commanding heights and that what many nations have done since the end of the war. Whether a socialist, communist or capitalist, everyone started to believe that more regulation meant better economic outcome.

Economics is the study of choices when there is scarcity, in the video it shows how scarcity affected the status of people through out the first half of the twentieth century. It shows the impact of the economical system toward prosperity, or depression. The video shows how the factors of production can be used and the outcome that comes from using it through the right economical system. I also saw how Keynes ideas building macroeconomics and helping Roosevelt to over come the Great depression. And how a little inflation is not necessary a bad thing. In the video through out occasions it shows some principle like The Principle of Voluntary Exchange which shows that the market is an institution or arrangement that enables people to exchange goods and services and how they are better off. It shows hyperinflations, and how that affects the real value of the money which shows the Real-Nominal Principle when the hyper inflation hits and people needs baskets full of money to buy simple goods. After watching the video, I came to a more understanding that The root causes of these agonies would have to be greed, power, and money. Each country wants to be on top and in charge, so they will do anything they can to gain these powers. Nations allow corporations to take big risks and if these risk fail, they try to cover them up for as long as possible, ultimately hurting their nation.

Similar Documents

Premium Essay

Commanding Heights: the New Rules to the Game Reaction

...Commanding Heights: The New Rules to the Game Reaction The Economic Environment ECO 5003 Master’s Science in Management Southern Nazarene University Professor Jeff Seyfert LaToya Anderson December 16, 2013 Summary The video Commanding Heights Episode Three, The New Rules to the Game focuses on the United States economy during the early 1990’s. The North American Free Trade Agreement (NAFTA) was a significant part of the introduction into The New Rules to the Game. The NAFTA was signed on January 1, 1994 between the United States of America, Canada, and Mexico. The NAFTA was entered as an agreement to reduce barrier trade between the three countries. The United States Economy was declining significantly while other economies such as Japan were booming. NAFTA became a subject during the 1992 elections further separating Democrats from Republicans. President Bill Clinton supported NAFTA but like many policies believed that it need provisions by forcing Mexico to increase standards in the labor force and pollution. Labor unions were for Clinton’s proposal and provided support for him to win the election. Once NAFTA was enacted trade among the three countries increased significantly. The Gross Domestic Product of each country also increased, however Mexico had the largest growth. The development of Mexico had a negative impact on some parts of North America by opportunities shifting to workers south of the border. After NAFTA, Clinton began to......

Words: 534 - Pages: 3

Premium Essay

Commanding Heights Reaction Paper

...but you're in some other kind of time, then things won't work as well, and priorities will be elsewhere as well (Commanding Heights)”. The United States was about to go into a recession and President Bush wanted to rebuild an economy that will put the United States back to economic freedom. Bush had a plan and want to seek out new ventures to make his plan come to life. “Out of the sorrow of September 11, I see opportunity, a chance for nations to strengthen and rethink and reinvigorate their relationships. When nations open their markets to the world, they find in America a trading partner, an investor, and a friend (Commanding Heights)”, Bush explained. He wanted to make sure that the world would have confidence in America, but technology was a barrier that couldn’t be suppressed. Richard Cheney explained it as, “ I don't think there is any one overnight solution. I don't know anyone who's smart enough to sit down and write a brand-new set of rules that we should all then adhere to. I think it is a process for negotiation among solvent and independent nations, and that's probably as it should be. And it will evolve over time. And I do think we learn from our mistakes. But I the idea that there's some sort of basic right way to do it out there, and there's one individual or group that have got all the answers, I'd be deeply suspicious of that notion (Commanding Heights).” While the United States economy seems vastly improved, it was on a road to recovery. Daniel Yergin......

Words: 709 - Pages: 3

Premium Essay

The American Economy

...protectionist policies will only hurt the U.S. economy by making domestic companies less competitive. (Amadeo, 2012) The study of macroeconomics is a very adventurous journey. Macroeconomics is the best example of the theory that every action has an equal and opposite reaction. Just by looking at the past thirty years of American economics it is easy to see that for choice there is an opportunity cost. Perhaps that is why every four years the best indicator of success for incumbents is the economy. If the party behind the curtain can the right strings to make the economy successful, then maybe they deserve another shot at keeping the engine running. Word Count: 1,561 Works Cited (2013). Goods and Services Deficit Decreases in March 2013. United States Census Bureau. Amadeo, K. (2012, April 17). Trade Protectionism. Retrieved from About.com: http://useconomy.about.com/od/glossary/g/Trade-Protectionism.htm Bartlett, B. (2003). SUPPLY-SIDE ECONOMICS: . Laffer Associates. Crutsinger, M. (2013, May 2). U.S. trade deficit falls to $38.8 billion. USA Today. Labonte, M. (2012). The Sustainability of the Federal Budget . Congressional Research Service. Yergin, D., & Stanislaw, J. (1998). The Commanding Heights. New York: Simon and Schuster, Inc....

Words: 1675 - Pages: 7

Free Essay

Hospitality Sector

...of telling, listening and understanding’. Therefore, the main purpose of communication is to inform, or to bring around to a certain point of view or to elicit action. PURPOSE OF COMMUNICATION 1. For instruction: The instructive function unvarying and importantly deals with the commanding nature. It is more or less of directive nature. Under this, the communicator transmits with necessary directives and guidance to the next level, so as to enable them to accomplish these particular tasks. In this, instructions basically flow from top to the lower level. 2. For integration: It is consolidated function under which integration of activities is endeavored. The integration function of communication mainly involves bringing about inter-relationship among the various functions of the business organization. It helps in the unification of different management functions. 3. For information: The purposes or function of communication in an organization is to inform the individual or group about the particular task or company policies and procedures etc. Top management informs policies to the lower level through the middle level. In turn, the lower level informs the top level the reaction through the middle level. Information can flow vertically, horizontally and diagonally across the organization. Becoming informed or inform others is the main purpose of communication. 4. For evaluation: Examination of activities to form an idea or judgement of the worth of task is......

Words: 2813 - Pages: 12

Free Essay

Case Study on Naval Reserve

...information with the later portions dedicated to solutions. The author may have disguised certain names and other identifying information to protect confidentiality. Reproduction of this material is not restricted, however, please notify the author. Course professor is Bill Bonner located at University of Regina, Regina, Saskatchewan, Canada. The intent of this short paragraph is to help give this project an Ivey case look and feel. Author: Aaron Kaytor, phone (306)737-4136, email kaytora@gmail.com Copyright © 2013, Aaron Kaytor Version (A) 2013-11-30 In a small office near the corner of a cold war era building in an area known to members as command flats, the executive officer contemplates his recommendation to the commanding officer regarding the future of HMCS QUEEN. There is much on the line, two immediate issues weigh heaviest on his mind. Number one, higher command has just announced that his unit officially is the smallest unit in Canada. Number two, there is a strategic need for a unit to open in Prince Rupert, BC and there is only enough funding nationally for 24 units giving him the impression that if something is not done soon there is a very real possibility of his unit being shut-down. HMCS QUEEN Her Majesty’s Canadian Ship (HMCS) QUEEN is a naval reserve division of the Royal Canadian Navy, whose primary location is located on the East side of Wascana Park in Regina, Saskatchewan. The unit was established in 1923 as the “Regina......

Words: 4712 - Pages: 19

Premium Essay

Big Five

.......................77 Chapter 10: The Commanding Leader .....................................85 Part III: Lessons from the 8 Dimensions................... 95 Chapter 11: Lessons from Pioneering Leaders ..........................101 Chapter 12: Lessons from Energizing Leaders .........................113 Chapter 13: Lessons from Affirming Leaders ............................127 Chapter 14: Lessons from Inclusive Leaders .............................139 Chapter 15: Lessons from Humble Leaders .............................151 Chapter 16: Lessons from Deliberate Leaders ..........................163 ix x Contents Chapter 17: Lessons from Resolute Leaders .............................176 Chapter 18: Lessons from Commanding Leaders .....................187 Chapter 19: Pulling it all Together .........................................199 Appendix: DiSC® Background, Theory, and Research ............205 References .......................................................................... 219 Index .......................................................................... 221 About Inscape Publishing ........................................................ 229 About the Authors .................................................................. 230 Preface This book is about broadening your definition of what constitutes effective leadership. As we interviewed senior executives and listened to their reactions to the lessons in the book,......

Words: 66819 - Pages: 268

Premium Essay

Training and Development

...may well include not only imparting specific skills and knowledge but also inculcating certain personality and mental attitudes. As the jobs become more complex, the importance of employee development also increases. In a rapidly changing society, employee training and development are not only an activity that is desirable but also an activity that an organization must commit resources to if it is to maintain a viable and knowledgeable work force. © A 1 help individuals in the progress towards maturity and actualization of LI Training and Development- IndianOil _______________________________________________________________________ _ Training has played a very important role in helping the corporation to reach the commanding heights of performance. Any training would be considered to be successful only when the knowledge gained by the participants is transferred to the job performance Training is the main function of HR. To enhance the Corporation's growth and keep the Corporation ready to anticipate all types of competition and face it too, there is a need that Human Resource should play more active role for overall progress of the Corporation. The impact of training programme is to mould the employee’s attitude It also helps in reducing dissatisfaction, complaints, absenteeism and labour turnover. Definition According to Flippo, “Training is the act of increasing knowledge and skills of an employee for doing a particular job" The major outcome of......

Words: 15227 - Pages: 61

Free Essay

Ojt Experience

...prevention are daily concerns in the undertaking to maximize overall damage control capability. He/She is responsible to the Commanding Officer (CO) and musters the assistance of several commissioned officers and senior enlisted damage control experts. b. Damage Control Assistant The Damage Control Assistant (DCA) is primarily responsible to the DCO for all damage control matters. This officer's vast administrative duties include drill scheduling, qualification tracking, and procurement and accountability of portable damage control equipment. However, operationally the DCA is the central member of the underway damage control organization and reports directly to the Officer of the Deck (OOD). All damage reports from repair lockers funnel through the DCA in the course of an emergency. He/She is completely in charge of stabilizing a crisis, containing damage, and directing 14 restoration efforts through the use of a communication network that extends from DCC to repair lockers and other peripheries where personnel take immediate actions then report their progress. Figure 1 illustrates the underway damage control organization. Here, command by negation allows the DC A to oversee repair party efforts while projecting possible shortfalls in the achievement of overall objectives. The Damage Control Organization Commanding Officer Executive Officer Officer of the Deck Damage Control Officer Damage Control Asst. Repair Party......

Words: 34538 - Pages: 139

Premium Essay

Stolypin

...peasants rose in rebellion so that troops had to be called to put down more than 3,000 separate instances of rural revolt. In the towns and cities of Russia, workers came out on strike and held mass demonstrations on the streets. At the same time, Russia was enduring the last months of war with Japan, a conflict in which Russian armed forces were comprehensively defeated by the island Asiatic power. The articulate Russian middle class, seeing an opportunity to capitalise upon the weakness of the government, made vocal demands for constitutional change. The Russian autocracy - the last of the absolutist Great Powers - was being assailed on all fronts and the very survival of the Tsarist state appeared in doubt. Reforms The regime’s initial reaction was to try to resist popular pressure. The first demonstration of the year, on 9 January, became known as ‘Bloody Sunday’ after government troops opened fire on peaceful marchers, killing hundreds of people. But this action only served to unleash a huge wave of strikes, and it quickly became clear to the imperial regime that it could not hope to overcome mass popular discontent simply by the use of force. Instead, in February, the Tsarist government announced what was to be the first of a series of concessions when it decreed that plans would be drawn up to allow for elected representatives to play a part in the discussion of legislation. This move, while dramatic in itself, served not to quell discontent, but instead to sharpen......

Words: 2862 - Pages: 12

Free Essay

Black Tuesday

...sent air express to England for repairs. If not, a new stem would have to be ordered. In June 1960, the mace had been sent to England for repairs to its shaky head at a cost of £83; it was also re- gold plated—the first repairs since it was made in London in 1799 by Louis Panton and brought to the Bahamas in 1800. Thursday, April 29, Speaker Symonette approved the opening of a public fund to replace the Mace. The fund was sponsored by The Nassau Guardian with the approval of its general manager, Benson McDermott. The estimated cost of replacement was $1,000. "Make the new Mace a gift from the people to their House of Assembly," suggested the morning newspaper as it opened the fund with a donation of $25. The Guardian also reported some reactions of the PLP to the whole incident. Pindling maintained that he felt the same way about it absolutely the same—as on "Black Tuesday". Paul Adderley, PLP representative for the Western District, strongly supported the action, even declaring, "As far as I am concerned, we did not go far enough; that's all I have to say about it"—a position he was to change when the PLP later decided to boycott Assembly meetings. With characteristic whimsicality, Randol Fawkes observed, "I thought throwing the Mace —the Speaker's symbol of authority—to the people, who in any democracy are the true source of political power, was rather poetic and humorous." With only the UBP members left in the Assembly, a motion initiated by Speaker Symonette and agreed......

Words: 3346 - Pages: 14

Premium Essay

Word

...Reserve and Commanding General, U.S. Army Reserve Command • 2–12, page 26 The Inspector General • 2–13, page 27 Chief of Public Affairs • 2–14, page 27 The Surgeon General • 2–15, page 28 The Judge Advocate General • 2–16, page 28 Chief of Chaplains • 2–17, page 28 Chief of Engineers • 2–18, page 28 Provost Marshal General • 2–19, page 29 Director, Senior Leader Development Office • 2–20, page 29 Commanders of Army Commands, Army Service Component Commands, and Direct Reporting Units • 2–21, page 29 Section II Army Commands, page 31 Commanding General, U.S. Army Training and Doctrine Command • 2–22, page 31 Commanding General, U.S. Army Forces Command • 2–23, page 37 Commanding General, U.S. Army Materiel Command • 2–24, page 38 Section III Army Service Component Commands, page 39 Commanding General, U.S. Army, Europe and Seventh Army • 2–25, page 39 Commanding General, U.S. Army Pacific • 2–26, page 39 Commanding General, Eighth United States Army • 2–27, page 39 Commanding General, U. S. Army South • 2–28, page 40 Commanding General, U. S. Army North • 2–29, page 40 Commanding General, U.S. Army Central Command • 2–30, page 40 Commanding General, U.S. Army Special Operations Command • 2–31, page 40 Commanding General, U.S. Army Space and Missile Defense Command/Army Strategic Command • 2–32, page 40 Commanding General, Military Surface Deployment and Distribution Command • 2–33, page 41 Section IV Direct Reporting Units, page 41 Commanding......

Words: 129456 - Pages: 518

Premium Essay

Tj's Production Mix Problem

...t 9-406-010 406-010 Infosys (A): Strategic Human Resource Management So it came as a rude shock when in 2003, Infosys toppled from the Best Employer List in the same Business Today Survey. The results caused great commotion in the industry, and reams of newsprint were devoted to analyzing the “downfall” of the poster child of the Indian software industry. As Infosys continued its heady growth, the HR leadership needed answers to prevent crises like this one from recurring. But there was no beaten path to tread and no role model to follow. The Birth of Infosys: 1981 The 1950s and 1960s were the heyday of socialism in India, and Murthy was attracted by the socialist idea of equality. The government had control of the “commanding heights” of the economy and had put protectionist policies in place. The reigning idea was to manage the economy so as to redistribute wealth and remove inequality. After graduation, Murthy took a job in Paris and found himself in middle of the student revolution. He was surprised to find that the French regarded wealth creation as a superior way to remove inequality as compared with wealth redistribution. When his work in Paris was completed, he hitchhiked back to India over the next year, living on the $450 he had saved. His travels through Eastern Europe showed him the realities of communism, where instead of happy comrades and an efficient state, he found repression and an often-frightened populace. He was even briefly imprisoned in......

Words: 5526 - Pages: 23

Premium Essay

Aviation

...Branch, ARMC as well as Performance Maximization Branch, ARMC. His last appointment was Commanding Officer of 1 Medical Squadron. He has a keen interest in vision performance, organizational safety and training matters. In this article, we will focus on one of the Dirty Dozen factors, Stress. Stress is unique as a Human Factor in that it directly affects the physical and mental well-being of the individual. While stress is an easily acknowledged and often mentioned Human Factor (much more than, say, Norms), it is probably the most difficult to fully comprehend and manage. Interestingly, it is very often neglected when it comes to identification in open reporting systems but appears as a prominent feature in accident investigations! And because stress is often not identified early, it is not adequately managed by the individual and prone to oversight by the management. This article will attempt to define what stress really is, identify the sources of it and explore how to better mitigate and manage stress at the respective workplaces – not only applicable to the aircraft maintenance community but the flying community at large. DEFINITION OF STRESS From a physiological standpoint, stress can be defined as any bodily response to a stimulus that disturbs or interferes with the normal physiological equilibrium of a person. From an operational standpoint, we define stress as a reaction that is initiated when a situation or event is evaluated as a threat and......

Words: 13663 - Pages: 55

Premium Essay

Infosys Case Study

...the industry, and reams of newsprint were devoted to analyzing the “downfall” of the poster child of the Indian software industry. As Infosys continued its heady growth, the HR leadership needed answers to prevent crises like this one from recurring. But there was no beaten path to tread and no role model to follow. The Birth of Infosys: 1981 op yo Narayana Murthy was born on August 20, 1946. He was the son of a schoolteacher and was one of eight siblings. He grew up in a typical Indian middle-class environment, which placed great emphasis on education and values. The 1950s and 1960s were the heyday of socialism in India, and Murthy was attracted by the socialist idea of equality. The government had control of the “commanding heights” of the economy and had put protectionist policies in place. The reigning idea was to manage the economy so as to redistribute wealth and remove inequality. After graduation, Murthy took a job in Paris and found himself in middle of the student revolution. He was surprised to find that the French regarded wealth creation as a superior way to remove inequality as compared with wealth redistribution. When his work in Paris was completed, he hitchhiked back to India over the next year, living on the $450 he had saved. His travels through Eastern Europe showed him the realities of communism, where instead of happy comrades and an efficient state, he found repression and an often-frightened populace. He was even briefly......

Words: 5709 - Pages: 23

Premium Essay

Strategic Hrm in Infosys

...commotion in the industry, and reams of newsprint were devoted to analyzing the “downfall” of the poster child of the Indian software industry. As Infosys continued its heady growth, the HR leadership needed answers to prevent crises like this one from recurring. But there was no beaten path to tread and no role model to follow. The Birth of Infosys: 1981 Narayana Murthy was born on August 20, 1946. He was the son of a schoolteacher and was one of eight siblings. He grew up in a typical Indian middle-class environment, which placed great emphasis on education and values. The 1950s and 1960s were the heyday of socialism in India, and Murthy was attracted by the socialist idea of equality. The government had control of the “commanding heights” of the economy and had put protectionist policies in place. The reigning idea was to manage the economy so as to redistribute wealth and remove inequality. After graduation, Murthy took a job in Paris and found himself in middle of the student revolution. He was surprised to find that the French regarded wealth creation as a superior way to remove inequality as compared with wealth redistribution. When his work in Paris was completed, he hitchhiked back to India over the next year, living on the $450 he had saved. His travels through Eastern Europe showed him the realities of communism, where instead of happy comrades and an efficient state, he found repression and an often-frightened populace. He was even briefly......

Words: 5368 - Pages: 22