

The Commanding Heights - 6hr documentary on the global economy (2003) - cubix
http://www.pbs.org/wgbh/commandingheights/hi/story/index.html

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cubix
This documentary brings some context to the current financial turmoil.

Also on Google Video:

The Commanding Heights Part One: The Battle of Ideas:
[http://video.google.com/videoplay?docid=-1466397368167658753...](http://video.google.com/videoplay?docid=-1466397368167658753&ei=zVvkSIv5GoT0-gH53fkC)

Commanding Heights Part Two: The Agony of Reform:
[http://video.google.com/videoplay?docid=-3122039563423208507...](http://video.google.com/videoplay?docid=-3122039563423208507&ei=JlzkSPv0AoXE-
wH5tbwC)

Commanding Heights Part Three: The New Rules of the Game:
[http://video.google.com/videoplay?docid=112129377629231653&#...</a>

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ra
Oohh... This is one of my favourite documentary series of all time. Compulsive
viewing.

I'm not sure how it exposes anything about the current situation, but it sure
underlines what the free-market economy means, how it came about and why it's
so important for our lives.

One of the underlying messages in the series is that Free markets and Free
democracy are intrinsically linked.

I'd be really interested to see a 2008 update on this. One that takes into
account the new China and Putin's Russia.

While China is touched upon in the series - I feel that the author would have
many more insights on the impact of China on the rest of the world, today.

And Putin's Russia - well here's another piece of fascinating history in the
making.

One of my favourite sub-plots in the series is the Thatcher story, and the
economic reasoning behind the removal of government subsidy for industry.

While I was too young to understand it at the time, surely this was one of the
greatest feats of leadership in a long time.

For something lighthearted and more related to today, see either of the
following: The subprime primer:
[http://docs.google.com/TeamPresent?revision=_latest&fs=t...](http://docs.google.com/TeamPresent?revision=_latest&fs=true&docID=ddv7hj34_03774hsc7&skipauth=true)

And from the BBC comedy department, 'Bird and Fortune'
<http://nz.youtube.com/watch?v=mzJmTCYmo9g>

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pragmatic
Uhh, the documentary covers the the blow up of Russian bonds. If I remember
correctly some economist says something like "first markets thought risk
didn't exists, then they thought risk existed everywhere." That's the shortest
most accurate description of most financial crises.

That's exactly what we're facing. Frank Raines told us these (sub-prime) loans
were risk free. Now they are threatening the global financial system.

It's all about risk. See anything by Taleb:
<http://www.fooledbyrandomness.com/>

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pragmatic
You might find the book a better resource. The book is about the transition
from socialism to the free market. The documentary focuses on markets and
market failures (it is after all PBS and they have their socialist donors to
consider).

