Showing posts with label Free Trade. Show all posts
Showing posts with label Free Trade. Show all posts

Sunday, July 27, 2008

Free to Choose 1980 - Volume 2: The Tyranny of Control


 
Topic: The Case for Free Trade

Government planning and detailed control of economic activity lessens productive innovation, and consumer choice. Good, better, best, are replaced by "approved" or "authorized." Friedman shows how "established" industries or methods, seek government protection or subsidization in their attempts to stop or limit product improvements which they don't control. Friedman visits India, Japan and U.S.

   
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Free to Choose 1980 - Volume 3: Anatomy of a Crisis


 
Topic: What caused the Great Depression, and how future depressions can be avoided

The Great Depression has been popularly viewed as a failure of capitalism. The stock market crash, the failure of the Bank of the United States, loss of personal savings, were visible symbols supporting this belief. As Friedman explains, the real cause was the unseen failure of government policy and action. Yet this crisis resulting from government failure leads to decades of government expansion.

   
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Free to Choose 1990 - Volume 1: The Power of the Market


 
Topic: The Power of the Market to Promote Prosperity and Freedom

Dr. Friedman states, "There is not a single person in the world who can make this pencil." He explains that the creation of even a simple object - like the "lead" pencil - requires the knowledge of many people, lumberjacks, steel manufacturers, miners, etc. These people may not speak the same language, they may not know or like one another, yet the market enables them to combine knowledge and effort to produce wealth. Introduced by Arnold Schwarzenegger. Discussion with David Brooks, Wall Street Journal and James Galbraith, University of Texas.

   
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Saturday, July 19, 2008

Free to Choose 1990 - Volume 2: The Tyranny of Control


 
Topic: The Case for Free Trade

"When anyone complains about unfair competition, consumers beware." Friedman tells us about the writings of Adam Smith who, 200 years ago, warned that businesses always try to sell for the highest price and will try to control the market to do so. But without government help businesses cannot force people to buy their goods. Consumers will always get the lowest possible prices when competition is free and robust. Introduced by George Schultz. Discussion with Michael Walker, Fraser Institute and Steve Cohen, UC Berkeley.

   
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Friday, August 24, 2007

Globalisation is Good


 

The world is an unequal and unjust place, in which some are born into wealth and some into hunger and misery. To explore why, in this controversial Channel Four documentary the young Swedish writer Johan Norberg takes the viewers on a journey to Taiwan, Vietnam, Kenya and Brussels to see the impact of globalisation, and the consequences of its absence. It makes the case that the problem in the world is not too much capitalism, globalisation and multinationals, but too little.

"Globalisation is good" tells a tale of two countries that were equally poor 50 years ago - Taiwan and Kenya. Today Taiwan is 20 times richer than Kenya. We meet the farmers and entrepreneurs that could develop Taiwan because it introduced a market economy and integrated into global trade. And we meet the Kenyan farmers and slum dwellers that are still desperately poor, because Kenya shut its door to globalisation. The Kenyans are suffering from regulations, corruption and the lack of property rights. The unequal distribution in the world is a result of the unequal distribution of capitalism - those who have capitalism grow rich, those who don't stay poor.

The film also explores the role of multinational corporations, especially the most criticized - Nike. In Vietnam we see that Nike's so called sweatshops give the Vietnamese better working conditions and many times the wages they would have otherwise. Instead of hurting the country, Nike contributes to rapid growth, poverty reduction and less child labour. Domestic factory owners visit Nike to get ideas on how to improve productivity and working conditions. If that is exploitation, then the problem in the world is that the poor are not sufficiently exploited.

The film concludes that we must fight for more globalisation if we want to help the poor countries. EU-protectionism is the worst obstacle today. We spend so much on agricultural protectionism that each of our 20 million cows could fly round the world once every year. The problem is not that we in the West are trying to trick poor countries into global capitalism. The problem is we are shutting them out from it. Therefore, the anti-globalisation movement is ignorant and dangerous. Far from protecting poor people the movement is inadvertently helping to keep them poor.

   
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Wednesday, August 15, 2007

Free to Choose 1980 - Volume 1: The Power of the Market


 
Topic: The power of the market to organize information in a way that maximizes prosperity

America's freedom and prosperity derive from the combination of the idea of human liberty in America's Declaration of Independence with the idea of economic freedom in Adam Smith's Wealth of Nations. Friedman explains how markets and voluntary exchange organize activity and enable people to improve their lives. He also explains the price system. Friedman visits Hong Kong, U.S. and Scotland.

   
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