Thursday, November 16, 2006

Globalization: May the Force Be With You

I am busy this week without a whole lot of time to blog on macro data.. The Producer Price and Consumer Price Indices for October came out this week, and seemed to show moderating inflation.

I did have time to catch a good program on globalization on the British Broadcasting Corporation (BBC). (Correct me if I am wrong for extra credit but I have heard that the BBC website is the most visited website on the Internet.) Earlier this year the BBC produced a three part documentary series on globalization, entitled The New Rules of the Game. In the first program called, May the Force be with You, the BBC travels to China and the United States to explore the new globalized world. The program examines what is meant by globalization, where it come from, and how is it evolving. There are interviews with one of globalization's greatest advocates, Thomas Friedman, but also from several critics of the globalization process. I haven't yet listened to the other two parts of the series but I'm looking forward to it. You can listen to this series on globalization online on the BBC website, or you can download each segment as a podcast.

I think it is a good idea to broaden your perspective by accessing diverse global media sources, rather than relying solely on the U.S. media. And the BBC is a great place to start.

Extra Credit: One of the most influential economists of the twentieth century, Milton Friedman, passed away today at the ripe old age of ninety four. Was Nobel prize-winning economist, Milton Friedman, a Keynesian or Classical economist? Explain your answer in a couple of sentences. If you are the first student to send me an e-mail ( with the answer, you will be rewarded with two extra credit Discussion Board points. Only two points extra credit per student can be earned in any given week from the blog questions.

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