preview

Globalism In The Early 20th Century

Good Essays
Forces, during the early 20th century or possibly longer, have been metaphorically fighting tooth and nail just to bring the entire world under the reign of one single government. The belief or ideology that a single one world government should be in place is called globalism while the opposite ideology is referred to as isolationism or nationalism. In a speech given by former CEO of Caterpillar Inc., Jim Owens (2006), where he publicly showed his and the company’s appreciation for globalism “…we must believe that we can compete on the world stage. We must look at globalization and international competition as an opportunity to make ourselves stronger and more efficient—and not, as some are proposing, as a reason to turn inward and put up barriers…show more content…
The reader so far could gather that globalsim that globalism is a wide spread movement that began it grip on the nation predominately during the mid 20th century, but even to this very day globalism is on the offensive. Most modern day Americans are probably familiar with the Subprime Mortage crisis of ‘08 and for those who are not: in 2008 the U.S. economy’s real estate market suffered from a collapse due to Chase Bank unwarily handing out risky loans that would, realistical, be left unpaid due to people inability to require funds. Being the Federal Reserve’s job to maintain the economy the private bank is ultimately the cause of this economic crises. Before going into an explanation of the crisis one must understand that, through the words of Richard H. Timberlake (2008) “...a particular market instability can be contained only if Federal Reserve policy maintains monetary equilibrium, the principle it abandoned in 1929[The Gold Standard].” Timberlake also mentions in this text that market can, and sometimes, will return to the equilibrium. Timberlake continues to state, “The Fed [Federal Reserve], having complete control over the quantity of dollars, controls the money market. It can and must use that control for just one goal: stability in the price level and the value of the dollar.”(p.310) Read that last quote just one more time. “The Fed, having complete control over the quantity of dollars” The Federal Reserve has absolute power over every single aspect of our economy, yet there have been economic collapses of enourmous proportions over the past 80 years. This would mean that most economic struggles Americans have faced were caused and could have been prevented directly by the Federal Reserve. The understanding of this brings the understanding of the amount of power that resides in the privately owned
Get Access