Some people claim that the US is the most powerful nation, in terms of economic and political influence, throughout the entire history of human beings. Although there is not question about whether the US is the hegemon, but seldom people understand how does the US control the world. Through three documentaries, Inside Job, Why We Fight, and Life and Debt, we can puzzle out the dominance of the US in the international economic system.
The documentary Inside Job is mainly about the financial crisis in 2008. This documentary explains how did this financial crisis happened under the supervision of the US and how did the US created this financial crisis. The US has the capability to control the global economy in the Wall Street. When stocks and major banks running on the Wall Street starts to fall, the global economy starts to decline. Large co-operations work for their own benefit, but they never cared about the world outside of the US. Many people’s life savings were burned down because of these large co-operations, who control the international economic system. Since the world is globalized, when one nation’s economy starts to fall, the whole world suffers. This fact is extremely connected with the US. The two largest economic declines, the Great Depression and the 2008 Financial Crisis, both started in Wall Street, New York, but both dragged the entire global economy into a period of depression. The US and Western powers has large economic influence in the international trade system.
The documentary Why We Fight shows the US military influence to the global economy. According to the documentary, more budgets are not spent on national defense than the Vietnam War period. In addition, the US spends more money than other 18 NATO members, China, and Russia. The government sees the huge profit it can make for advancing military and further encourages large co-operations to produce more weapons. Competition between large co-operation leads to the advance of high technology weapons, and the US government earns numerous profit from making and selling these weapons. In order to make more weapons, the government persuades the people that they are fighting for freedom and democracy. The production of weapons strengthens the power of the US, and lead to the military dominance of the US in many areas.
The documentary Life and Debt shows the economic situation of Jamaica. After decolonizing from the British Empire, Jamaica is still recovering from the harsh one-crop based economy. Although they often seek the IMF and World Bank for financial support, IMF and World Bank sets restrictions on Jamaica’s develop. They limit they use of loans for only short-term usages. The structure of the LEDCs are formed by the MEDCs, and MEDCs often use the term “free-market” to force the LEDCs to open their economy. However, the MEDCs subsidize their own companies and co-operations to have absolute advantages over the LEDCs companies, and LEDCs suffer from the “free-market”.
In conclusion, the US/Western powers achieve their goals, which is absolute economic and political dominance, through subsidizing large co-operations to dominate the LEDCs’ markets and control the global economy. In addition, Americans produce huge advance weapons to use military actions in LEDCs to take control and gain huge profit.
The documentary Inside Job is mainly about the financial crisis in 2008. This documentary explains how did this financial crisis happened under the supervision of the US and how did the US created this financial crisis. The US has the capability to control the global economy in the Wall Street. When stocks and major banks running on the Wall Street starts to fall, the global economy starts to decline. Large co-operations work for their own benefit, but they never cared about the world outside of the US. Many people’s life savings were burned down because of these large co-operations, who control the international economic system. Since the world is globalized, when one nation’s economy starts to fall, the whole world suffers. This fact is extremely connected with the US. The two largest economic declines, the Great Depression and the 2008 Financial Crisis, both started in Wall Street, New York, but both dragged the entire global economy into a period of depression. The US and Western powers has large economic influence in the international trade system.
The documentary Why We Fight shows the US military influence to the global economy. According to the documentary, more budgets are not spent on national defense than the Vietnam War period. In addition, the US spends more money than other 18 NATO members, China, and Russia. The government sees the huge profit it can make for advancing military and further encourages large co-operations to produce more weapons. Competition between large co-operation leads to the advance of high technology weapons, and the US government earns numerous profit from making and selling these weapons. In order to make more weapons, the government persuades the people that they are fighting for freedom and democracy. The production of weapons strengthens the power of the US, and lead to the military dominance of the US in many areas.
The documentary Life and Debt shows the economic situation of Jamaica. After decolonizing from the British Empire, Jamaica is still recovering from the harsh one-crop based economy. Although they often seek the IMF and World Bank for financial support, IMF and World Bank sets restrictions on Jamaica’s develop. They limit they use of loans for only short-term usages. The structure of the LEDCs are formed by the MEDCs, and MEDCs often use the term “free-market” to force the LEDCs to open their economy. However, the MEDCs subsidize their own companies and co-operations to have absolute advantages over the LEDCs companies, and LEDCs suffer from the “free-market”.
In conclusion, the US/Western powers achieve their goals, which is absolute economic and political dominance, through subsidizing large co-operations to dominate the LEDCs’ markets and control the global economy. In addition, Americans produce huge advance weapons to use military actions in LEDCs to take control and gain huge profit.