Government budget policies Basic human services such as healthcare and university education were brought under government control and made available for free, while rents in the private housing market were regulated and council housing provided homes for around a third of the population by the late 1970s. NARRATOR: Roosevelt's voice of confidence rallied the nation. Chapter 15: Thatcher Takes the Helm [3:50] Chapter 11: Chicago Against The Tide [7:32] 1. With the failure of capitalism, fascism cast its shadow ever wider. Onscreen title: World War II, 1941 Coverage of these concepts provides students with the foundation for a thorough understanding of macroeconomics and puts the macroeconomic material of the course in proper perspective." NARRATOR: Governments, said Keynes, should spend against the wind. SAM PELTZMAN, Professor, University of Chicago: Chicago has always been an exceptional place, out of the mainstream. We're going to tell you what routes you can fly." STEPHEN BREYER: And we'd say, "When was the last time you granted a new route? This three-part, six-hour documentary does an astonishingly thorough job of dissecting and explaining macroeconomics and their current political and social importance without ever causing a loss of consciousness for the viewer. When the first world war ended, Austria and Germany had been forced to pay for the costs of the war. MILTON FRIEDMAN: It started the markets working, with free prices. C. Specialization and comparative advantage: the basis for international trade Dubbed the New Deal, its project is for government to fund the creation of infrastructure whose created jobs will let money move from the government to the public. The Nature and Function of Product Markets Documentary look at the effects of globalization on Jamaican industry and agriculture. His critics, he said, were fools, were stupid, because the state, the government, the Bolsheviks would control the overall economy: steel, railroads, coal, the heavy industries -- what he called the "commanding heights" of the economy. In the 20th century Friedrich Von Hayek and John Maynard Keynes were very influential to the economy because of their opposing arguments regarding classical … Keynes: All the statesmen of Versailles could think about was how to squeeze money out of an already bankrupt Germany. International trade and policy These indicators include GDP growth year by year, per capita income (adjusted for inflation), inflation, and unemployment for all years that data was available from the IMF and World Bank. He believed that people needed to be free from government interference and that markets work and governments don’t. But the great Marxist experiment was in trouble. KARL OTTO POHL: And that was one of the reasons for the success of the Nazis, of Hitler. 11. DANIEL YERGIN: The first world war was a cataclysm. Nixon wrote back and said, "I will, too." Under Joseph Stalin, the Soviet agricultural and heavy manufacturing sectors were largely centralized. NARRATOR: But Hayek told the meeting that they had one great lesson to learn from the socialists. Rapley explains that Keynes claimed that the gains will off-set the debts incurred during the low of the economy.

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