Midterm Essay

1804 words - 8 pages

The United States used to be a place of dreams, a country where any willing body in the world envied. The opportunity to escape the old world and start anew, the chance to buy a home to your name, raise a family with little worries, have a secure job that would provide enough, and ultimately the right to say to the other nations, “I am free”. Sadly today, that opportunity is closing, the chance is slipping and that free America is being chained by the very same people robbing others of a life. The last time in history anyone saw this large of a robbery was during the French Revolution. This is only said because the world is emerging into a global economy that blurs national law and dries ...view middle of the document...

The Electronic Herd is a metaphor used to describe the elite group of people, usually divided into ‘short-horned cattle, investors who buy hedge funds, stocks, derivatives, etc. As the long horned cattle are the multinational corporations that can directly make an alliance with country of interest to increase the company’s profit. This Electronic Herd are the main players who have the power to enforce ‘the Golden Straitjacket’ and the wealth to move operations anywhere in the world. Believers like Friedman, say that we are ultimately on a road where we can not turn back or reform, that this is the way to be apart of the global economy by wearing the Golden Straitjacket, that the Electronic Herd run the show, and that countries who follow the rules by these guys will see huge rise in one’s economy.

With that in mind, many nations now see that the only way to compete in this global battle for economic prosperity is to wear the straitjacket, obey the rule of the Electronic Herd, and all in the process of losing basic human rights. Worker unions crumble under the governments who take orders from such corporations such as Ford with their operations in Mexico a few years back. They paid off some government officials to use military force to deal with anyone who was looking to raise the standard of working conditions on these workers. The goal of all these global companies to make profit, even if it means looking for a country with little to no regulation. Regulation that keeps companies honest in the business conduct and that do not monopolize the local markets all the while.

Though Friedman also says in a few number of his articles, one such as “ that suggest that no one is really in charge of this grand economy”. That this system is runned by an “invisible hand”, a hand that automatically monitors the global financial system and does not need any government regulation from any sort of government. Friedman and those who think similar to him, want to convince people that we do have a free market when in reality it is painfully obvious that someone is in charge and this system is not ran by an invisible hand.

The financial collapse of 2008, proves that global corporations like Lehman Brother’s, JP Morgan Chase, and etc have a huge say in how this global economy works and who it it affects, ie these corporations where the ones who cheated investors Although, the main dark horse that Friedman failed to properly

A protest in Seattle in 1999, the most wealthiest nations, CEO’s, and global corporations, and banks (Lehman Brothers) met behind closed doors to discuss treaties that would only benefit the wealthy and leave the majority of the world fighting. This meeting was blown when many protesters made it their life mission to inform the general public what the meeting signified and overall what it meant for the future of our global economy. The protesters only concern was to alert the majority of the world that “Hey the very one percent are behind...

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