POLISCI 359 Lecture Notes - Lecture 6: Thomas Friedman
1 Feb 2016
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Document Summary
The most basic truth about globalization is no one is in charge. We all want to believe someone is in charge and responsible, but the global marketplace today is an electronic herd of often anonymous stock, bond, currency and multinational investors, connected by screens and networks. The herd cuts no one any slack, it doesn"t recognize anyone"s unique circumstances, it knows only its own rules, hates surprises, operates by rules of golden straitjacket. It is not infallible, it makes mistakes too, it can overreact and overshoot. Countries cannot thrive in today"s world without plugging into the herd and can"t survive unless they learn how to get the best out of it. It"s like a high-voltage wire; it can give you warmth, light in your home, but if you don"t have surge protectors, it can shock you, fry you to a crisp, leave you for dead.
