Daniel Yergin and Joseph Stanislaw are two experienced authors responsible for compiling the main points presented in The Commanding Heights: The Battle for the World Economy. The text addresses globalization as one of the influential factors in the emergence of free markets in the international framework during the twentieth century. Based on a phrase introduced by Vladimir Lenin, these writers use the ideology of commanding heights to discuss the management of the primary external categories constituted in a nationalized financial system. The central thesis highlighted by these analysts is the origination of free markets. According to their arguments, the government promotes certain internationally accepted measures with the intent of improving the living standards of all citizens. These mechanisms include minimization of legal barriers in exportation, importation, and migration dealings. The promotion of these commanding heights began during such periods as the Great Depression, which resulted in capitalism instability. To support their main supposition, the authors discuss the influence of economists like John Maynard Keynes. As stipulated in this passage, Keynesianism supported the role of the federal government in regulating the national economy. After World War II, most western financial systems adopted this ideology. Additionally, they portray Friedrich von Hayek as an advocate of the free market system by opposing such legal barriers as contradictory government policies and excises.
The main methodology used to address this economic experience is the use of comparative mechanisms. The authors engage the audience in a discussion, which compares such financial systems as Germany, Russia, United States, and United Kingdom. The historic economic events defining these markets are the primary tactic used by the two authors to support their arguments. Consequently, the passage is an economic treatise, which uses systematic accounts and principles to position the main theories. For instance, the writers document a detailed account of influential economists and politicians that played a specific role in the establishment of free markets. The passage is a comparative piece since it comprises of various economies and individuals who supported or opposed the involvement of the centralized government in economy regulatory activities. Several archival resources with economy-related principles, which date back to the World War II, have enhanced the effectiveness of this piece. These sources are comprehensive since they offer substantial information that supports the initiation of free markets. Despite this efficiency, highlighting the modern elements of free markets would have increased the effectiveness of this passage. This is because the audience would be in a position to comprehend its progression and effects.
With the aim of expounding on this subject matter, Daniel and Joseph use several historic events and economic theories to accentuate the contradictory influences of centralized administrations and the international market. The main ideas presented in this text indicate that the authors support the free market principle. While citing several western financial systems, their suppositions incline towards individuals who promoted free market philosophies. Likewise, there is antagonism while discussing economists and politicians who advocated the ideology of centralized planning. However, they do not support the disparities governing the economic development process. Consequently, they concur with the suppositions highlighted by Friedrich von Hayek regarding the successful nature of free markets. This antagonism is evident through the disapproving comments incorporated in the book regarding the effect of centralized planning on the economic developments in third world countries. The participation of the writers in different global projects has enhanced the effectiveness of this book. For instance, Daniel is an international energy expert while Joseph is familiar with the global market proceedings. Their argumentative support for Vladimir Lenin through the adoption of the commanding heights ideology is a clear indication that they promote capitalism.
Other documentations that relate to the discussions in this book include the Market for Liberty. This piece analyses the essence of free markets as well as the negative effects of centralized economic regulations. Likewise, similar discussions define the Operation Market Garden compiled by Stephen Badsey. This text expounds on the establishment of free markets during the World War II. An analysis of these texts indicates similarities of the main arguments regarding the relationships between the national economy and centralized commercial regulations.
In conclusion, Daniel and Joseph warn of the possible ineffectiveness of capitalism if western economies do not provide feasible opportunities to third world nations. This argument is rational since the stability of this economic principle depends on the support acquired from all international financial structures. These authors do not offer a precise solution for the existing economic risk in the global framework. They only highlight the need for all relevant stakeholders to end the disparities present in the commercial advancements. Based on these discussions, I support the final points presented by the two authors. This is because, for capitalism to emphasize the positive effects of globalization, the government of every country should appreciate the need to limit regulations controlling exportations, importations, and migrations. Such regulations will help in the development of the international market, an element that will benefit all individuals within various social stratifications.
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