Commanding heights episode 3 Essay

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Commanding Heights Episode 3 Commanding heights: The New Rules is the third film in the series and is about the 21st century economy. PBS sponsored the film under the direction of Michael Sullivan to inform the public about the economic situation. They speak about how the economy adapted to what is today. How the world nationalized third world countries allowing exchange and investment. Episode 3 addresses the current and future problems of a globalized world. That's the structure of the film. The film clearly, thoroughly, and excitingly explains this through historic facts and stories told by citizens who lived during the changes. This is not an economics lesson but rather a high dramatic event that impacts peoples lives. Commanding…show more content…
Clinton won, and his plan was put into action. The labor unions gave Bill Clinton the support he needed to win. NAFTA led to a huge increase in the amount of trade between the three countries. Likewise, each country had significant GDP growth that was directly attributable to the freer trade. The biggest growth was in Mexico, in wealth and employment. The impact on the U.S. was that 400,000 American jobs were lost to more competitive workers and factories south of the border, American unions sustained major and lasting damage to their political influence and membership, and the gap between rich and poor Americans grew wider. As in previous cases, deregulation and freer trade benefitted a whole economy in aggregate while severely hurting a small percentage of people and massively benefitting some companies that are able to take advantage of the new trade policies. In the global economy, annual trade in tangible goods and services is worth $8 trillion while trade in currencies is worth $288 trillion. U.S. workers in both public and private sectors have trillions of dollars invested in work-related retirement funds. The experts who manage these funds are enormously powerful. A large portion of American workers’ pensions is invested overseas. Thus, most American workers are significantly invested in the global economy. After NAFTA,
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