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Commanding Heights - Film Review

Essay by   •  May 12, 2011  •  Essay  •  538 Words (3 Pages)  •  1,026 Views

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This film basically goes through the worldwide economic revolution. The two main theorists were Keynes and Hayek. For many years Keynes theory was considered the best economic choice, while Hayek's views and ideas were shamed. Many countries around the world started to base their economies around Keynes' theories. Keynes believed in government planning. While Hayek believed in no planning and little involvement from the government. The Keynes' economies seem to flourish in the beginning. People were working and they were happy to be doing so. Economies were expanding along with government control. The downfall of Keynes' theories started when many of the socialistic governments became dictatorships. People were being oppressed and forced to work jobs they're not experienced in. The moral for socialism was on the decline and people started looking to Hayek and capitalism. The United States was one of the first country to start implementing a capitalist economy. Then countries in Europe had success and others around the world started to follow suite.

Keynes' theories basically breakdown into planning. Keynes believed in a large central government with extensive control on the economy and society. This is commonly referred to as socialism. The government controls every facet of peoples' lives. The government tells people what they do for a work everyday and everyone is equal. Everyone makes the same amount of money. The idea is so that no one is poor and nobody is rich. It eliminates the class system. This way there is no unemployment and nobody starves. The fundamentals of this society seem solid. Hayek's theories are just the opposite. He does not believe in planning or government control. He thinks that people should be allowed to choose their careers and the economy will run smoothly. There will be as little government involvement as possible. Thus making Hayek's economy follow the guidelines of capitalism. Hayek's beliefs became popular when socialist economies turned to dictatorships and those governments tried taking control of the world.

Keynes is the socialist. Hayek is the capitalist. A socialistic economy is completely controlled by the government. Every person is told what they're suppose to do. Everyone makes the same amount of money. Everyone is equal. There are no rich or poor. The only problem with this is that every socialist society ever formed has turned to a dictatorship. It gives the central government all the power and they abuse it. They end up oppressing and persecuting their people to advance their own gains. A capitalistic economy allows people to follow their dreams and choose any career they want. This views was shamed early on. Nobody believed an economy could function when people chose their own careers. It was believed that unemployment would be high and many necessary functions to society

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