Class Notes (809,510)
Canada (493,754)

Reading Summaries for Electronic Herd and Helleiner

2 Pages
Unlock Document

Western University
Political Science
Political Science 2211E
Adam Harmes

The Electronic Herd (Thomas Friedman): - The global marketplace today is an Electronic Herd (aka global financial market players ) of often anonymous stock, bond and currency traders and multinational investors, connected by screens and networks - It cuts no one slack, doesn’t recognize anyone’s unique circumstances. The herd knows only its own rules and they are consistent. They are the rules of the Golden Straitjacket - The operations of the herd will lead to a ‘revolution from beyond’ or what he calls ‘globalution’ in countries. - This would result in countries being forced to improve systems of governance, transparency, free press, free markets, global standards and democracy. - Linking the herd with globalization, suggests that it cannot be stopped without a huge cost to society and its prospects of growth. - Globalization and the effects of the herd are things that no one intentionally created. - Developing countries live under the fear of a "no-confidence vote from the herd". - The fact that this competition exists between these countries in order to produce the most stable, inviting and attractive environments for the herd make them able to indirectly control the economic policies of the governments. - Friedman claims that all of the world leaders have now been reduced to governors, and their main job is to entice the herd into investing in their states. - Consists of two basic groups: 1. Sort-horn Cattle:  Include all those people involved in the buying and selling of stocks, bonds and currencies around the world who can move their money around on a very short-term basis  They are currency traders, major mutual and pension funds, hedge funds, insurance companies, bank trading rooms and individual investors 2. Long-Horn Cattle  Multinationals – the General Electrics, the IBMs, the Intels, the Siemens
More Less

Related notes for Political Science 2211E

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.