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The Cold War had many strong attributes. Today’s era of globalization is a similar international system, with its own unique attributes, which contrast sharply with those of the Cold War.
It is the inexorable integration of markets, nation-states and technologies to a degree never witnessed before- in a way that is enabling individuals, corporations and nation-states to reach around the world farther, faster, deeper and cheaper than ever before, and in a way that is enabling the world to reach individuals, corporations and nation-states farther, faster, deeper, cheaper than ever before.
Marks of globalization.
Politics, culture, national security, finance, technology, environment
Since the country was in the middle of a civil war, he knew no one really cared what the temperature was so he estimated the temperature.
Politics and culture, national security, balance-of-power dimension, financial markets, and technology
The only way to see it, understand it and explain it is by arbitraging all 6 dimensions- assigning different weights to different perspectives at different times in different situations, but always understanding that it is the interaction of all of them together that is really the defining feature of international relations today. And therefore being a globalist is the only way to systematically connect the dots, see the system of globalization and thereby order the chaos.
Hedge fund managers
How can world affairs today be explained?
As the interaction between what is as new as an Internet Web site and what is as old as a gnarled olive tree on the banks of the river Jordan.
What walls came crumbling down as the Cold War ended?
What is democratization and how does it relate to this chapter?
the result of several innovations that came together in the 1980s involving computerization, telecommunications, miniaturization, compression technology and digitalization. It involves the democratization of technology, finance, information,
The commercial opens with a man sitting in his convertible, his golf clubs poking out of the backseat. He is parked on the side of the road because a cop had just pulled him over. The cop walks up alongside his car and they have a conversation about how the guy made the top 10 but not top 5. Even the motorcycle cop knows where his pension is and moves it around among the best performers.
What does Burns’ story illustrate?
The third change that made globalization possible-the change in how we look at the world. Freidman called this change “the democratization of information.” Thanks to satellite dishes, the Internet and television we can now see through, hear through and look through almost every conceivable wall.
Microchip Immune Deficiency Syndrome. It is the defining political disease of the globalization era. It can strike any company or country, large or small, East or West, North or South.
What is meant by the term “the Buck starts here”?
What is meant by the term the “golden straightjacket”?
economy grows and politics shrinks on the economic front the Straitjacket usually fosters more growth higher average incomes-through more trade foreign investment privatization more efficient use of resources under the pressure of global competition
What is the new power source in the era of globalization?
“Long-horn cattle”- The multinationals- the General Electrics, the General Motorses, the IBMs, the Intels, the Siemenses- which are increasingly involved in foreign direct investment, building factories around the world or striking international long-term production deals or alliances with overseas factories to make or assemble their products
It is the “operating system” for your hardware. It is compared to the broad macroeconomics policies of any country
When many or all of the key functions of the same system- from tax collection to customs to privatization to regulation- have become so infected by corruption that legal transactions become the exception rather than the norm
What is meant by the term free-market democrat?
What is the real source of American prosperity?
combination of the right operating system free markets w/ the right software, political institutions, and political consensus that can protect property and innovation, maintain a level playing field, ensure that the most productive players usually win, and provide some minimum safety nets to catch the losers.
. More than nothing-he believes that there are hidden debts and off-the-books liabilities all over the place.
. If it moves up the quality ladder, and produces better goods for big, global, brand-name retailers
Borrowing from a bank, selling shares on a stock market and by issuing bonds on a bond market
Flexibility, legitimacy, and sustainability. The faster and bigger the herd gets, the more greased and open the global economy becomes, the more flexibility you need to get the most out of the herd and protect yourself from it.
If a company meets the standards, it is allowed to attach a special “FLA” label on its clothes, so consumers have credible information to differentiate among brand
What is PlaNet?
Old- street protests, government did all the workNew- bottom-up and side-by-side- individual people make the change
world in which we will all be able to be online at the same timethrough some information appliance. is fitted with software and linked to networks Internet breaks free from your desktop computer and becomes assessible
Those companies who adapt themselves to the rules and interaction frameworks shaped by others and learn to profit from them by carving out their own niches
They knew that in 4 years, every product they make will be obsolete. If Microsoft makes it obsolete, the company will thrive. If one of its competitors makes it obsolete, Microsoft will be in trouble.
incredibly arrogant and resembled the USSR didn’t understand that the barriers to entry were falling and that the key to success was an ability to limit your product line in order to ride down the cost curve focus on public wants
sold directly to customers avoided dealers and markups able to give customers a little bit more speed and power for their money. synchronize raw materials from all the world and operate with just 6 days of inventory on hand saved alot of money
harvesting its knowledge? How much does it weigh? dare to be open on the outside? dare to be open on the inside?management get it and can you change management if they don’t? willing to shoot and suckle the survivors?making friends? brand?
Ideas, knowledge and information technologies are increasingly substituted for bulk weight in the creation of economic value.
In today’s globalized world, both a powerful global company and a powerful global country need to have “strong” brands that can attract and hold consumers and investors.
country reached the level of economic development where it had a middle class big enough to support a McDonald’s network became a McDonald’s country people in McDonalds countries didnt like to fight wars anymore preferred to wait for burgers.
What happened in Albania in 1997 and how did the response of countries differ from what would have happened during the Cold War Era?
engulfed in civil war. In short, the 2 superpowers, US and USSR. would have been competing to see which could get into Albania the first, the farthest and the deepest.
What did Friedman say were the two fundamental features of the Cold War?
They are telling us that was Saddam Hussein does or does not do, which neighbor he does or does not invade, will have a huge impact on the stability of the Middle East. his actions are likely to trigger more wars and more ceasefires.
Demolition Ma. According to Hollywood, this is what America will look like when globalization reigns across the land, and all culture and environment is homogenized, standardized and sanitized. It is a chilling sci-fi portrayal of the future.
runs the Institute for Social and Environmental Studies of Southern Bahia, teamed up with the Washington-based Conservation International and a group of local environmentalists they all becameentrepreneurs to save the rain forests.
What does Friedman mean when he said, “That leaves one last strategy, and it’s a powerful one-learning how to use globalization against itself”
culture when it encounters other strong cultures absorbs influences that can enrich that culture resist those things thatcan nevertheless be enjoyed and celebrated as different
consists of a dialogue between a banker and a farmer. captures how the gap between the globalized and the nonglobalized in a society can widen to a point where people who speak the same language can’t understand each other nor feel a common bond.
What is the Davos World Economic Forum?
What is meant by the newspaper title “Baltimore to try third-world remedies”?
how the U.S. Agency for International Development, which usually works to provide job training and economic assistance to developing countries in Africa, was trying to use some techniques to revitalize the inner-city of Baltimore.
What is Indiana’s “first experience as a Third-World country”?
. It is propelled by millions of workers who have been knocked around by globalization, but who nonetheless get up, dust themselves off and knock again on globalization’s door, demanding to get into the system.
fall behind because they failed to put in place political, economic and legal infrastructure to take advantage of globalization. failed to make the choices that would encourage prosperity to stay. They fail to develop good government.
a woman would borrow one hundred dollars without collateral from Grameen Bank to purchase, say, a cow. The cow would then produce milk that she would sell to her neighbors, enabling her to make a living and pay off the loan.
With some of the poorest women in the villages holding in their hands instruments of global communication, there are ripples in the highly stratified villages. Even a relatively rich person in the village is walking u to a poor woman’s home for a service he needs.
no such thing as economic development without entrepreneurship. it is the most potent force for uplifting countries and what the Internet and globalization can do, with some imagination, is enable even the poorest Bangladeshi to be entrepreneur.
How we live, freedoms, safety nets, interact in society
gas is $5 a gallon while men in uniforms and white gloves, with lifetime employment contracts, wait on you. They pump your gas. They change your oil. They wash your windows, and they wave at you with a friendly smile as you drive away in peace.
gas is $1 a gallon but you pump it yourself. You wash your own windows, fill your own tires, and when you drive around the corner four homeless people try to steal your hubcaps.
50 cents a gallon- but there is none, because the 4 guys working there have sold it all to the black market for $5 a gallon. Just one of the four guys who is employed at the communist gas station is actually there. The other 3 are working at second jobs in the underground economy and only come around once a week to collect their paychecks
a. Use powers in globalization to attack superpowers
b. Unnerve more people with one event
The notion that globalization is everything and its opposite
What 3 countries did Friedman expound upon in this chapter?
a. Just too hard
b. Just too connected
c. Just too disconnected
d. Just too intrusive
e. Just too unfair for too many people
f. Just too dehumanizing
Uses government pressure to encourage commercial banks to make affordable credit to distressed neighborhoods.
What is the Community Development Financial Institutions Fund?
It gives start-up financing to entrepreneurs ready to make risky investments in underdeveloped districts, where they see the market possibilities but where venture-capital financing wouldn’t normally be made available.
1. open free-market economy
2. that can catch workers who fall behind in this rapidly changing environment and retrain them so they can bounce back into the economy.
3. safety nets social security, Medicare, Medicaid, food stamps and welfare
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