CPO 2001 Lecture Notes - Lecture 21: Thomas Friedman, Currency Crisis, Washington Consensus
13 Apr 2016
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Document Summary
The world is flat (thomas friedman: globalization has leveled the playing field . Labor and capital are highly mobile as well. The result is a world of new (more equal) opportunities. Capital moves to where there is a good investment environment. The world is spiky : evidence suggests that economic activity, research, population density is becoming more concentrated, not less. Mobility does allow more people to become involved, but they have to go to economic/innovation hubs. Broader impact is that 2nd tier hubs appear to be falling further behind as centralization continues: this movement towards economic centers has made the world more spiky not less. Long term implications: demographic trends highlight increasing problem, debt and deficit expected to grow substantially, increased security concerns and economic instability -> lead to even more government at multiple levels. Despite globalization must of politics and economics remains local (or at least national)
