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. In 2002, it was turned into a documentary of the same title, and later released on DVD. Daniel Yergin (born February 6, 1947) is an American author and economic researcher. ... 1998(MCMXCVIII) is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... 2002 (MMII) is a common year starting on Tuesday of the Gregorian calendar. ... Documentary film is a broad category of cinematic expression united by the intent to remain factual or non-fictional. ... DVD is an optical disc storage media format that can be used for data storage, including movies with high video and sound quality. ...

Commanding Heights attempts to trace the rise and fall of free markets during the last century, as well as the process of globalization. It takes its title from a speech by Vladimir Lenin, who used the phrase "commanding heights" to refer to the segments and industries in an economy that effectively control and support the others, such as oil, railroads, banking and steel. A free market is an idealized market, where all economic decisions and actions by individuals regarding transfer of money, goods, and services are voluntary, and are therefore devoid of coercion and theft (some definitions of coercion are inclusive of theft). Colloquially and loosely, a free market economy is an economy... Globalization describes the changes in societies and the world economy that result from dramatically increased international trade and cultural exchange. ... Vladimir Ilyich Lenin (Russian: Влади́мир Ильи́ч Ле́нин ▶(?)), original surname Ulyanov (Улья́нов) (April 22 (April 10 (O.S.)), 1870 – January 21, 1924), was a Russian revolutionary, the leader of the Bolshevik party, the first Premier of the Soviet Union, and the main theorist of Leninism, which he described as an adaptation of Marxism to the... Oil is a generic term for organic liquids that are not miscible with water. ... This is the top-level page of WikiProject trains Rail tracks Rail transport refers to the land transport of passengers and goods along railways or railroads. ... For other uses, see Bank (disambiguation). ... The old steel cable of a colliery winding tower Steel is a metal alloy whose major component is iron, with carbon being the primary alloying material. ...

Overview

The authors take the thesis that, prior to World War I, the world effectively lived in a state of globalization, which they term the "First Era of Globalization." They define globalization as periods where free markets predominate, and countries place few if any limits on imports, exports, immigration and exchanges of information. Overall, they see globalization as a positive movement that improves the standard of living for all the people connected to it, from the richest to poorest. World War I was primarily a European conflict with many facets: immense human sacrifice, stalemate trench warfare, and the use of new, devastating weapons - tanks, aircraft, machine guns, and poison gas World War I, also known as the First World War, the Great War, the War of the Nations and... The Standard of living refers to the quality and quantity of goods and services available to people. ...

They argue that 1914 and World War I ended this first global era. The rise of fascism and communism, not to mention the Great Depression, nearly extinguished capitalism, which rapidly lost popularity. 1914 (MCMXIV) is a common year starting on Thursday. ... This article needs to be cleaned up to conform to a higher standard of quality. ... Communism refers to a theoretical system of social organization and a political movement based on common ownership of the means of production. ... The Great Depression was a massive global economic recession (or depression) that ran from 1929 to approximately 1939. ... In common usage, the word capitalism means an economic system in which all or most of the means of production are privately owned and operated, and the investment of capital and the production, distribution and prices of commodities (goods and services) are determined mainly in a free market. ...

After World War II, the authors believe the work of economist John Maynard Keynes came to be accepted as gospel around the world. While a capitalist, he also believed in government regulation of the economy, and Keynes's great influence and prestige also hindered the rise of another era of globalization. The so-called "commanding heights" were often owned or severely regulated by governments, in line with Keynes's ideas. World War II was a truly global conflict with many facets: immense human suffering, fierce indoctrination, and the use of new, extremely devastating weapons such as the atom bomb. ... John Maynard Keynes, 1st Baron Keynes of Tilton (pronounced kānz / kAnze), ) (June 5, 1883 – April 21, 1946) was an English economist, whose ideas had a major impact on modern economic and political theory as well as on American and British fiscal policies. ...

However, this trend changed when Margaret Thatcher became prime minister of the United Kingdom, and when Ronald Reagan was elected President of the United States. Both these leaders supposedly parted ways with Keynesian economics. Rather, they supported the work of Friedrich von Hayek, who stridently opposed government regulation, tariffs, and other infringements on a pure free market, and Milton Friedman, who emphasized using monetary policy to influence rates of economic growth. The Right Honourable Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS (born 13 October 1925), is a British stateswoman. ... A prime minister may be either: chief or leading member of the cabinet of the top-level government in a country having a parliamentary system of government; or the official, in countries with a semi-presidential system of government, appointed to manage the civil service and execute the directives of... Ronald Wilson Reagan (February 6, 1911 – June 5, 2004) was the 40th President of the United States (1981–1989) and the 33rd Governor of California (1967–1975). ... The President of the United States (unofficially abbreviated POTUS) is the head of state of the United States. ... Friedrich von Hayek Friedrich August von Hayek (May 8, 1899 in Vienna – March 23, 1992 in Freiburg) was an economist and social scientist of the Austrian School, noted for his defense of liberal democracy and free-market capitalism against a rising tide of socialist and collectivist thought in the mid... A tariff is a tax placed on imported and/or exported goods, sometimes called a customs duty. ... Milton Friedman Milton Friedman (born July 31, 1912) is a U.S. economist, known primarily for his work on macroeconomics and for his advocacy of laissez-faire capitalism. ... Monetary policy is the process of managing money supply to achieve specific goals—such as constraining inflation, achieving full employment or economic growth. ... Accumulated GDP growth for various countries. ...

While Thatcher, Reagan, and their successors made sweeping reforms, the authors argue that the current era of globalization finally began around 1991, with the collapse of the Soviet Union. Since then, they argue, countries embracing free markets have prospered, while those adhering to central planning have failed. 1991 (MCMXCI) is a common year starting on Tuesday of the Gregorian calendar. ... A planned economy is an economic system in which economic decisions are made by centralized planners, who determine what sorts of goods and services to produce, and how they are to be priced and allocated. ...

While strongly in favor of this trend, the authors worry that globalization will not last. More specifically, they believe that if inequality in economic growth remains high, and if Third World nations are not offered the proper opportunities and incentives to support capitalism, the movement will end just as the first era did. In mathematics, an inequality is a statement about the relative size or order of two objects. ... For the Jamaican reggae band, see Third World (band). ...

The reason the authors place so much emphasis on narrowing economic gaps is because they believe, against many of the people they interview, that there is no ideological support for capitalism, only the pragmatic fact that the system works better than any other. As they remark: An ideology is a collection of ideas. ... In common usage, the word capitalism means an economic system in which all or most of the means of production are privately owned and operated, and the investment of capital and the production, distribution and prices of commodities (goods and services) are determined mainly in a free market. ... Pragmatism is a school of philosophy which originated in the United States in the late 1800s. ...

The market also requires something else: legitimacy. But here it faces an ethical conundrum. It is based upon contracts, rules, and choice -- in short, on self-restraint -- which contrasts mightily with other ways of organizing economic activity. Yet a system that takes the pursuit of self-interest and profit as its guiding light does not necessarily satisfy the yearning in the human soul for belief and some higher meaning beyond materialism. In the Spanish Civil War in the late 1930s, Republican soldiers are said to have died with the word "Stalin" on their lips. Their idealized vision of Soviet communism, however misguided, provided justification for their ultimate sacrifice. Few people would die with the words "free markets" on their lips.

The word legitimacy comes from the Latin word legitimare and it has two uses: Legitimacy (political science) is whether or not people accept the validity of a law or ruling or the validity of a governing regime. ... Ethics is a general term for what is often described as the science (study) of morality. In philosophy, ethical behavior is that which is good or right. ... History of Spain series Prehistoric Spain Roman Spain Medieval Spain - Visigoths - Al-Andalus - Age of Reconquest Age of Expansion Age of Enlightenment Reaction and Revolution First Spanish Republic The Restoration Second Spanish Republic Spanish Civil War The Dictatorship Modern Spain Topics Economic History Military History Social History The Spanish Civil... Iosif (usually anglicized as Joseph) Vissarionovich Stalin (Russian: Иосиф Виссарионович Сталин), original name Ioseb Jughashvili (Georgian: იოსებ ჯუღაშვილი; see Other names section) (December 21, 1879[1] – March 5, 1953) was a Bolshevik revolutionary and leader of the Soviet Union. ...

International Analysis

Within the book, the authors examine briefly many different nations and regions, and their economic development since WWII (in the case of industrialized countries, they often begin before the war). While they admit that the book cannot touch on every single aspect (Yergin remarks that the topic of their book constitutes an entire new academic discipline), they nonetheless make some of the following assertations.

United States

Main article: Economy of the United States

While the work of the robber barons was often condemned in the press, America's commitment to industrialization and free markets (compared to other countries) was extremely high in the late 19th/early 20th century. Unlike many countries after WWI, the 1920s saw great economic conditions and opportunities for its citizens. The United States has the largest and one of the most technologically advanced national economies in the world, with a GDP of 11. ... The term robber baron dates back to the twelfth and thirteenth centuries and originally referred to feudal lords of land through which the Rhine River in Europe passed who abused their position to stop passing merchant ships and demand tolls without being authorized to do so. ... 1920 (MCMXX) is a leap year starting on Thursday (link will take you to calendar) // Events January January 7 - Forces of Russian White admiral Kolchak surrender in Krasnoyarsk. ...

However, the Great Depression caused massive unemployment and, with it, massive public distrust of corporations and wealthy individuals (it didn't help that some businessmen took advantage of Depression conditions to benefit themselves). In response, the New Deal instituted by Franklin D. Roosevelt went into effect with massive public support. Many lawyers and economists influenced by Keynes worked under the New Deal, and believed that free markets, without proper regulation, would lead to disaster. Dorothea Langes Migrant Mother depicts destitute pea pickers in California during the Great Depression. ... The New Deal is the name given to the series of legislative initiatives passed by Franklin Roosevelt with the goal of stabilizing and stimulating the United States economy in the Great Depression. ... Franklin Delano Roosevelt (January 30, 1882 – April 12, 1945), 32nd President of the United States (1933-1945), the longest-serving holder of the office and the only person to be elected President more than twice (he was elected four times, and served just over 12 years), was one of the... For information on the type of fish called Lawyer, see the article on Burbot. ...

Under Roosevelt and his successors, much of the U.S. economy, while not taken over outright by the government, became subject to massive regulations, many of which had the effect of protecting the existing companies in particular industries while stiffling competition.

While the American economy boomed for about 30 years following WWII under Keynesianism, during the 1970s, stagflation appeared to discredit this prevailing view. This culminated in the election of Reagan in 1980, and many of the statutes and organizations created by the New Deal were dismantled. Since then, politicians on both sides tend to support free trade and limited regulation. Keynesian economics, or Keynesianism, is an economic theory based on the ideas of John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s. ... Jimmy Beertow is the most famous pornstar of this decade he starred in movies such as BackDoorSluts3 and the Famous Schoolhouse Confessions Parts 1 through 6. He ultilized the secret school location made famous by the series. ... Stagflation is a term in macroeconomics used to describe a period of characteristic high inflation combined with economic stagnation, unemployment, or economic recession. ...

England/United Kingdom

Main article: Economy of the United Kingdom

London was the center of the so-called "First Era of Globalization" due to the power and resources of the British Empire. However, WWI severly weakened Britain, causing massive unemployment; during this crisis, Keynes wrote his key work. While the United Kingdom successfully held out during WWII and emerged victorious, the war effectively caused the dismantling of its empire. The United Kingdom, a leading trading power and financial centre, has the fourth largest economy in the world in terms of market exchange rates and the sixth largest by purchasing power parity (PPP) exchange rates. ... Part of the London skyline viewed from the South Bank London is the most populous city in the European Union, with an estimated population on 1 January 2005 of 7,421,328 and a metropolitan area population of between 12 and 14 million. ... The British Empire in 1897, marked in pink, the traditional colour for Imperial British dominions on maps The British Empire was the worlds first global power and the largest empire in human history, a product of the European Age of Discovery that began with the global maritime empires of...

Winston Churchill was influenced by the work of von Hayek and opposed heavy government interference in the British economy. However, during the 1945 elections, the Labour Party, led by Clement Attlee, came to power in force, and was dedicated to government controls to prevent another economic crisis. The UK's major industries were nationalized, and practically all occupations (and the wages they earned) were heavily regulated and unionized. The Right Honourable Sir Winston Leonard Spencer-Churchill, KG, OM, CH, TD, FRS (30 November 1874 – 24 January 1965) was an English statesman, best known as prime minister of the United Kingdom during the Second World War. ... 1945 (MCMXLV) was a common year starting on Monday (link will take you to calendar). ... The name Labour Party or Labor Party is used by several political parties around the world. ... The Right Honourable Sir Clement Richard Attlee, 1st Earl Attlee, KG, OM, CH, PC (3 January 1883 – 8 October 1967) was Prime Minister of the United Kingdom from 1945 to 1951. ...

This practice became so prevalent that even Conservative governments, elected into power later, did nothing to change this practive. However, during the 1970s, massive strikes by unions combined with other economic woes almost ground the English economy to a halt. Thatcher, an ardent admirer of von Hayek, began privitazation (Thatcherism). While her results were initially mixed, the Falklands War brought on a nationalistic fervor that kept Thatcher in office long enough to keep her reforms in place. Although the Labour Party later came back to power, it no longer challenges the key principles of Thatcherism. Thatcherism is the system of political thought attributed to the governments of Margaret Thatcher, British Prime Minister from 1979 to 1990. ... The Falklands War or the Malvinas War (Spanish: Guerra de las Malvinas), was an armed conflict between Argentina and the United Kingdom over the Falkland Islands (also known in Spanish as the Islas Malvinas) and South Georgia and the South Sandwich Islands, between March and June of 1982. ...

Russia/Soviet Union

Main article: Economy of Russia

Within a few years of the rise of the Russian Revolution, the communist Soviet economy went into a major crisis. Lenin responded with the New Economic Policy, a program that allowed limited capitalistic activity, and the economy began to improve. Lenin's "commanding heights speech" was his attempt to defend himself against accusations that he "sold out" the principles of the revolution by implementing this new policy. The economy of Russia experienced a dramatic transformation in the 1990s. ... Russian Revolution can refer to the following events in the history of Russia: The Russian Revolution of 1905 was a series of riots and anti-government violence against Tsar Nicholas II The Russian Revolution of 1917, which included: February Revolution, which resulted in the abdication of Nicholas II of Russia... The New Economic Policy (NEP) was officially decided in the course of the 10th Congress of the Russian Communist Party. ...

Under Joseph Stalin, the Soviet economy was completely centralized, often through extremely ruthless means, such as his massive purges and executions of perceived resistors to collectivization. While this policy did industrialize the Soviet Union, it did not last when Stalin's successors did not use terror tactics to force people to work. (?) (Russian, in full: Иосиф Виссарионович Сталин (Iosif Vissarionovich Stalin), real name: Иосиф Виссарионович Джугашвили (Iosif Vissarionovich Dzhugashvili), Georgian: იოსებ ჯუღაშვილი (Ioseb Jughashvili); December 6 (OS)/December 18 (NS), 1878 – March 5, 1953) was the leader of the Soviet Union from mid-1920s to his death in 1953 and General Secretary of the Communist Party of the Soviet Union... Collective farming is an organizational unit in agriculture in which peasants are not paid wages, but rather receive a share of the farms net output. ...

By the 1980s, the Soviet economy was in shambles. Because of a lack of incentives (and, ironically, a more tolerant central government), workers did not put much effort into their duties. Nonetheless, the Soviets continued to build their military, even though, at times, such spending took up half the country's revenue. Mikhail Gorbachev tried to reform the economy, but took only limited steps. When he lifted the Brezhnev Doctrine and allowed Poland's Solidarity Party to usurp that countries communist regime, the entire Warsaw Pact collapsed, soon followed by the Soviet Union itself. Mikhail Sergeyevich Gorbachyov (Gorbachev) listen â–¶(?) (Russian: ; pronunciation: ) (born March 2, 1931), was leader of the Soviet Union from 1985 until 1991. ... The Brezhnev Doctrine was a Soviet policy doctrine, introduced by Leonid Brezhnev in a speech at the Fifth Congress of the Polish United Workers Party on November 13, 1968, which stated: When forces that are hostile to socialism try to turn the development of some socialist country towards capitalism, it... The Solidarity Party was an American political party in the state of Illinois. ... Seal of the Warsaw Pact Distinguish from the Warsaw Convention, which is an agreement among airlines about financial liability. ...

However, even with the fall of the Soviet Union and the rise of the relatively free market-minded Boris Yeltsin, communists maintained much power in Russia, blocked free market movements, and forced the resignation of Yelstin's free-market allies such as Yegor Gaidar. During the 1996 elections, Yelstin was forced to accept support from the oligarchs to counter the growing power of the communists. While Yelstin remained in power, the "privatization" of Soviet industries proceeded in an extremely unequal manner. Boris Nikolayevich Yeltsin listen ▶(?) (Russian: Борис Николаевич Ельцин) (born February 1, 1931) was President of Russia from 1991 to 1999. ... Yegor Gaidar Yegor Timurovich Gaidar () (also transliterated Gaider) (born March 19, 1956) is a Russian politician who served as acting Prime Minister briefly under President Boris Yeltsin in 1992 from June 15 to December 14. ... 1996 (MCMXCVI) is a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... Business oligarch, a synonym of business magnate, describes wealthy people that significantly influence the life of a state. ...

Germany

Main article: Economy of Germany

As predicted by Keynes, the hyperinflation caused by the Treaty of Versailles devastated the German economy and created political instability. In addition to widespread unemployment, this inflation effectively wiped out the country's middle class. This environment made it easy for the Nazi Party to gain power, and the Nazis practiced central planning (although their leaders were largely incompetent in this area). Frankfurt is Germanys commercial centre Germany is the worlds third largest economy and the largest in Europe. ... In economics, hyperinflation is inflation which is out of control, a condition in which prices increase rapidly as a currency loses its value. ... The treaty was an International affair The Treaty of Versailles of 1919 was the peace treaty which officially ended World War I between the Allies and Germany. ... The middle class (or middle classes) comprises a social group once defined by exception as an intermediate social class between the nobility and the peasantry. ... The Nazi swastika symbol The National Socialist German Workers Party ( German: Nationalsozialistische Deutsche Arbeiterpartei), better known as the NSDAP or the Nazi Party was a political party that was led to power in Germany by Adolf Hitler in 1933. ...

Following the war and break-up of Germany, East Germany came under the rule of the Soviets while West Germany remained part of the Western powers. When economic conditions in occupied West Germany failed to improve, Ludwig Erhard, without consulting the occupying powers, completely destroyed price controls in 1948. After this, the Western German economy underwent a massive recovery, although such free market reforms remains largely confined to the country for many years. The German Democratic Republic (GDR) (German: Deutsche Demokratische Republik), also commonly known as East Germany, was a communist state that existed from 1949 to 1990 in the former Soviet occupation zone of Germany. ... Ludwig Erhard (February 4, 1897–May 5, 1977) was a German politician (CDU) and Chancellor of Germany from 1963 until 1966. ... In economics, incomes policies are wage and price controls used to fight inflation. ... 1948 (MCMXLVIII) is a leap year starting on Thursday (link will take you to calendar). ...

By the time of German reunification, West Germany was an economic power, while East Germany faced many problems due to its communist-run economy. German reunification (Deutsche Wiedervereinigung) took place on October 3, 1990, when the areas of the former German Democratic Republic (GDR, in English often called East Germany) were incorporated into the Federal Republic of Germany (FRG, or West Germany). After the GDRs first free elections on 18 March 1990, negotiations...

India

Main article: Economy of India

Unlike Mahatma Gandhi, who supported an agrarian economy, after India's independence in 1947, its first prime minister, Jawaharlal Nehru, promoted industrialization. However, he supported government-controlled development, and the bureaucracy that developed stiffled innovation (the authors of Commanding Heights sarcastically claim that the British Raj was replaced by a "permit Raj"). Bribery and delays became commonplace in the Indian economy, while at the same time, many prominent economists studied the country and attempted to "fine tune" its central planning. The economy of India is the fourth-largest in the world as measured by purchasing power parity (PPP), with a GDP of US $3. ... Mohandas Karamchand Gandhi (October 2, 1869–January 30, 1948) (Devanagari, Hindi: मोहनदास करमचन्द गांधी,Gujarati:મોહનદાસ કરમચંદ ગાંધી) was the spiritual and political leader of India who led the struggle for Indias independence from the British Empire, empowered by tens of millions of Indians. ... 1947 (MCMXLVII) was a common year starting on Wednesday (link will take you to calendar). ... Jawaharlal Nehru (जवाहरलाल नेहरू, Javāharlāl Nehrū) (November 14, 1889 – May 27, 1964), also called Pandit (Scholar, Teacher) Nehru, was one of the most important leaders of the Indian Independence Movement and the Indian National Congress... Bureaucracy is a concept in sociology and political science. ... The British Raj is an informal term for the British colonial administration of most of the Indian subcontinent, or present-day India, Pakistan and Bangladesh; also included from 1886 was Burma. ... License raj refers to Indias planned economy where all aspects of the economy are controlled by the state and licenses were given to a select few. ...

By the 1990s, the Indian govenment, mainly due to the influence of finance minister Manmohan Singh, began to relax these stringent regulations, and the Indian economy bloomed under the effects of exports and outsourcing. Political parties since this period have continued to promote these changes; even after the election of a traditionally Marxist government, the free marketer Singh was appointed prime minister. Dr. Manmohan Singh (Gurmukhi: ਮਨਮੋਹਨ ਸਿੰਘ, Devanagari: मनमोहन सिंह) is the fourteenth, and current, Prime Minister of India. ... Outsourcing (or contracting out) is often defined as the delegation of non-core operations or jobs from internal production within a business to an external entity (such as a subcontractor) that specializes in that operation. ...

South America

Under the influence of dependency theory, a Marxist approach to international economics, many Latin American countries attempted to industrialize by limiting imports of manufactured goods and subsidizing their own industries. However, in the absence of competition, and with government subsidizes, these companies had little incentive to become efficient or innovative. By the 1980s, the economic problems of these countries became obvious, and much of the West's investment in these countries was lost. Dependency theory is the body of social science theories by various intellectuals, both from the Third World and the First World, that create a worldview which suggests that the wealthy nations of the world need a peripheral group of poorer states in order to remain wealthy. ... Latin America consists of the countries of South America and some of North America (including Central America and some the islands of the Caribbean) whose inhabitants mostly speak Romance languages, although Native American languages are also spoken. ... // Definition Investment or investing is a term with several closely-related meanings in finance and economics. ...

Chile unwittingly became an experiment in free markets when Augusto Pinochet called in followers of Friedman to evaluate the economy, the so-called "Chicago boys". The authors argue that these economic reforms proved successful, but since Pinochet was a dictator who came to power in a coup and had many political opponents murdered, the whole idea of free market reform became linked to fascism. While the authors (and Friedman) claim that these reforms eventually promoted democracy, they acknowledge that this issue - and their interpretation of events - is extremely controversial (see 'Controversey' section below). General Augusto José Ramón Pinochet Ugarte (born November 25, 1915) was head of the military government that ruled Chile from 1973 to 1990. ... The Chicago Boys (c. ... Dictator was the title of a magistrate in ancient Rome appointed by the Senate to rule the state in times of emergency. ... A coup détat, or simply a coup, is the sudden overthrow of a government, usually done by a small group that just replaces the top power figures. ... This article needs to be cleaned up to conform to a higher standard of quality. ...

Bolivia was hit with hyperinflation as well. During the 1990s, economist Jeffrey Sachs was sent as a consultant, and a new president, Gonzalo Sanchez de Lozada, reigned in inflation by severly cutting government spending. While Bolivia remained a very poor country, the authors argue that it is better off now because its inflation was curtailed. They also argue that Bolivia's example vindicates the bad reputation free-market economics acquired in Chile, as Bolivia's reforms came after a democratic election. Jeffrey Sachs Jeffrey David Sachs (born November 5, 1954 in Detroit, Michigan) is an American economist known for his work as an economic advisor to governments in Latin America, Eastern Europe, the former Soviet Union, Asia, and Africa. ... Gonzalo Sánchez de Lozada y Sánchez Bustamante (July 1, 1930), familiarly known as Goni, is a former two-term president of Bolivia. ... Democracy is a form of government under which the power to alter the laws and structures of government lies, ultimately, with the citizenry. ... An election is a decision making process whereby people vote for preferred political candidates or parties to act as representatives in government. ...

See also: Economy of Chile, Economy of Bolivia. // Overview Chile has a market-oriented economy characterized by a high level of foreign trade. ... Economy - overview: Bolivia, long one of the poorest and least developed Latin American countries, has made considerable progress toward the development of a market-oriented economy. ...

Other Countries

The authors argue that Africa's economic development was severly hindered by central planning, socialist ideas, and political dictatorships that promoted warfare and other conflicts. // Etymology World map showing Africa (geographically) The name Africa came into Western use through the Romans, who used the name Africa terra — land of the Afri (plural, or Afer singular) — for the northern part of the continent, as the province of Africa with its capital Carthage, corresponding to modern-day...

While Japan was seen for many years as an economic success story as late as the early 1990s, the authors argue that its ongoing recession since then resulted from its governments refusal to stop subsidies to many of its industries and companies (this issue is ongoing).

Poland's free market reforms, pushed by Solidarity and Lech Walesa, were initially mixed and criticized by its citizens, but by the late 1990s, the Polish economy was doing much better than other former communist states in Eastern Europe. One feature of the Polish economy that makes it different from other capitalistic countries is that it is dominated by small businesses rather than corporations or conglomarates. Lech Wałęsa (pronounced , born September 29, 1943, Popowo, Poland) was an Polish electrician, a trade union activist, a human rights activist and a politician. ... Pre-1989 division between the West (grey) and Eastern Bloc (orange) superimposed on current national boundaries: Russia (dark orange), other countries of the former USSR (medium orange) and other former communist regimes (light orange). ... A small business may be defined as a business with a small number of employees. ... A corporation (usually known in the United Kingdom and Ireland as a company) is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name...

China is another major ongoing issue. While Deng Xiaoping, after the death of Mao Zedong, gradually introduced free market, he did not promote civil liberties or other freedoms, as demonstrated by his willingness to crush pro-democracy demonstrators. While the authors hope (according to Milton Friedman's ideas) that free markets will eventually promote a free society, it hasn't happened yet, although China's economy continues to grow. Deng Xiaoping Deng Xiaoping (?) (Simplified Chinese: 邓小平; Traditional Chinese: 鄧小平; pinyin: ; Wade-Giles: Teng Hsiao-ping; August 22, 1904—February 19, 1997) was a revolutionary elder in the Communist Party of China (CPC) who served as the de facto ruler of the Peoples Republic of China from the late 1970s... ▶(?) (December 26, 1893 – September 9, 1976; Mao Tse-tung in Wade-Giles) was the chairman of the Politburo of the Communist Party of China from 1943 and the chairman of the Central Committee of the Communist Party of China from 1945 until his death. ... Civil liberties are protections from the power of governments. ... The Unknown Rebel — This famous photo, taken by Associated Press photographer Jeff Widener, depicts a lone protester whose actions halted the progress of a column of advancing tanks for over half an hour. ...

See also: Economy of Japan, Economy of Poland, Economy of China. if (window. ... // Overview Poland has steadfastly pursued a policy of economic liberalization throughout the 1990s and today stands out as the greatest success story among the former communist states. ... The economy of China may include: the economy of the Peoples Republic of China (article on mainland China, excludes the SARs) economy of Hong Kong (SAR of the Peoples Republic of China) economy of Macau (SAR of the Peoples Republic of China) the economy of the Republic...

Controversy

Because the book supports capitalism, globalization and unfettered free markets, it is naturally criticized by those partial to Marxism and other forms of socialism, as well as by the anti-globalization movement. Marxism is the social theory and political practice based on the works of Karl Marx, a 19th century German philosopher, economist, journalist, and revolutionary, along with Friedrich Engels. ... The color red and particularly the red flag are traditional symbols of Socialism. ... Wikipedia does not have an article with this exact name. ...

The Commanding Heights concentrates on economic developments since World War II. Critics contend that the authors ignore the history of colonialism, as many of the countries they examine only became independent after the war. Also, the authors do not fully examine Cold War politics. One oft-cited example - they talk about the fall of Chilean leader Salvador Allende, as well as the subsequent rise of Augusto Pinochet, without taking American pressure and clandestine activities into account. Bold textItalic text World map of colonialism at the end of the Second World War in 1945. ... For the generic term for a high-tension struggle between countries, see cold war (war). ... Salvador Isabelino Allende Gossens (June 26, 1908 – September 11, 1973) was President of Chile from 1970 until 1973, when he committed suicide during the violent Chilean coup of 1973. ... General Augusto José Ramón Pinochet Ugarte (born November 25, 1915) was head of the military government that ruled Chile from 1973 to 1990. ... The United States on several occasions sought to influence the policies or government of Chile. ...

Published in 1998, Yergin and Stanislaw have been roundly criticized for failing to foresee and take account of problems that were in the making at the time. Some examples of things the book missed because of its date of publication:

• The so-called "Tiger Economies" of Southeast Asia collapsed within a year of the book's publication - the "Asian financial crisis". These economies, which embraced free markets, are used by the authors as examples of globalization's benefits.

• The world and U.S. economy went into a recession. In particular, the U.S. stock market suffered an extended period of marked decline.

• The anti-globalization movement rose and gained power, most notably during the World Trade Organization meeting in Seattle, Washington in 1999.

• Terrorists who oppose globalization are being held accountable for the September 11, 2001 attacks on the World Trade Center and The Pentagon.

The largest criticism leveled against the book is that it failed to foresee the massive corporate scandals that began a few years later. The authors quote Kenneth Lay and cast him as an entrepreneur who was victimized by India's governmental regulations, but since then Lay's company, Enron, has collapsed, and Lay himself has been indicted on fraud charges. Because of this gaffe, when the documentary version of the book came out, critics began to attack it as nothing more than corporate propaganda on its below-listed web site. This article does not cite its references or sources. ... The Asian financial crisis was a financial crisis that started in July 1997 in Thailand, and affected currencies, stock markets, and other asset prices of several Asian countries, many part of the East Asian Tigers. ... A recession is usually defined in macroeconomics as a fall of a countrys real Gross Domestic Product in two or more successive quarters of a year. ... The stock market is the market for the trading of company stock, both those securities listed on a stock exchange as well as those only traded privately. ... Wikipedia does not have an article with this exact name. ... WTO Logo The World Trade Organization (WTO) is an international rules-based and member driven organization which oversees a large number of agreements defining the rules of trade between its member states (WTO, 2004a). ... Downtown Seattle skyline City nickname: The Emerald City Location Location of Seattle in King County and Washington Government County King Mayor Greg Nickels NP/Democrat ¹ Physical characteristics Area      Land      Water 369. ... 1999 (MCMXCIX) is a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ... September 11 is the 254th day of the year in the Gregorian calendar (255th in leap years). ... The World Trade Center in New York City was a complex of seven buildings designed by American architect Minoru Yamasaki and leased by Larry Silverstein from the Port Authority of New York and New Jersey around a central plaza, near the south end of Manhattan in the downtown financial district. ... A pre-9/11 view of The Pentagon, looking east with the Potomac River and Washington Monument in the distance. ... A corporation (usually known in the United Kingdom and Ireland as a company) is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name... Kenneth Lee Lay, Ph. ... Look up Entrepreneur in Wiktionary, the free dictionary Entrepreneur is a loanword from the French language that refers to a person who undertakes and operates a new venture, and assumes some accountability for the inherent risks. ... Enron Corporation Enron Corporation is an energy trading and communications company based in Houston, Texas that employed around 21,000 people in mid-2001 (before bankruptcy). ... A corporation (usually known in the United Kingdom and Ireland as a company) is a legal entity (distinct from a natural person) that often has similar rights in law to those of a Civil law systems may refer to corporations as moral persons; they may also go by the name... North Korean propaganda showing a soldier destroying the United States Capitol building. ...

After the September 11 attacks, a new edition was released. In the new edition the authors take note of these issues, but do not modify their fundamental thesis.

Documentary

In 2002, PBS aired a six-hour documentary based on the book. This documentary was later sold on DVD, and is available for viewing free at PBS' web site for those with high-speed Internet connections. PBS re-directs here; for alternate uses see PBS (disambiguation) PBS logo The Public Broadcasting Service (PBS) is a non-profit public broadcasting television service with 349 member TV stations in the United States. ...

Thanks to its later date, the documentary film is able to address many of the items Yergin and Stanislaw missed in their original book, including the recession, the collapse of Asian economies, the anti-globalization movement, and the attack on New York City. All told, two of the documentary's six hours — the entire final third — address things that happened since the original book was published. They also include free market solutions to international poverty that was not included in the book - they interview economist Hernando de Soto, whose book on the subject was not published until after the initial printing of Commanding Heights. New York City, officially named the City of New York, is the most populous city in the United States, the most densely populated major city in North America, and the largest financial center in the world. ... Hernando de Soto (born 1941 in Arequipa) is a Peruvian economist known for his work on the informal economy. ...

Like the book, the documentary attracted more support and criticism. One example is the anti-globilization movement, which argued they were portrayed unfairly. In the documentary, a WTO representative is interviewed and says point-blank that such protesters are so ignorant of economics that they should not be protesting in the first place (the documentary includes a scene of said representative getting hit in the face by a pie by a protester). U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization... A slice of strawberry-rhubarb pie à la mode A pie is a baked dish, with a baked shell usually made of pastry that covers or completely contains a filling of meat, fish, vegetables, fruit, cheeses, creams, chocolate, custards, nuts, or other sweet or savory ingredient. ...

Unlike the book, the PBS documentary is far more wary of the possible end of the current era of globalization. For example, they include a parallel between radio stocks of the 1920s and dot com stocks of the 1990s - both were industries built on new technology which had little capital, but which fell prey to a market bubble. Likewise, the documentary draws an unsettling parallel between the terrorist attacks of Sept. 11, 2001, and the "terrorist" assassination of Franz Ferdinand in 1914. Dot-com (also dotcom or redundantly dot. ... This article needs to be cleaned up to conform to a higher standard of quality. ... Jack Ruby murdered Lee Harvey Oswald, the alleged assassin of U.S. President John F. Kennedy, in a very public manner In its most common use, assassination has come to mean the killing of an important person. ... Franz Ferdinand Archduke Franz Ferdinand (right) with his family. ... 1914 (MCMXIV) is a common year starting on Thursday. ...

The documentary is also accused of further oversimplfying the so-called "Battle of Ideas" between Keynes and von Hayek. For example, in the DVD version, Keynes is named together with Karl Marx and Lenin as supporters of controlled economies, which Keynes' supporters hold is an unfair ad hominem attack. Marxs view of history, which came to be called the materialist interpretation of history (and which was developed further as the philosophy of dialectical materialism) is certainly influenced by Hegels claim that reality (and history) should be viewed dialectically, through a clash of opposing forces. ... An ad hominem argument, also known as argumentum ad hominem (Latin, literally argument to the man), is a logical fallacy that involves replying to an argument or assertion by addressing the person presenting the argument or assertion rather than the argument itself. ...

In a interview available on the DVD, Yergin admitted that the rapidly-changing nature of the world economy made it difficult to create the documentary, which he had been planning when the book was first published. For example, the creation of the show encompassed both the boom and bust of dot.com stocks - filmmakers originally added a plan to interview a "dot.com millionaire," but then dropped it. Likewise, Yergin said that the documentary was more than three-quarters complete at the time of the 9-11 attacks; the attacks had such a profound effect on globalization that much of the film had to be re-written, and the final version features the attacks at the beginning of each episode.

External links

Official Commanding Heights Site at PBS