Fall of the Berlin Wall

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pages: 391 words: 102,301

Zero-Sum Future: American Power in an Age of Anxiety by Gideon Rachman

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Asian financial crisis, bank run, battle of ideas, Berlin Wall, Big bang: deregulation of the City of London, Bonfire of the Vanities, borderless world, Bretton Woods, BRICs, capital controls, centre right, clean water, collapse of Lehman Brothers, colonial rule, currency manipulation / currency intervention, deindustrialization, Deng Xiaoping, Doha Development Round, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Francis Fukuyama: the end of history, full employment, global reserve currency, greed is good, Hernando de Soto, illegal immigration, income inequality, invisible hand, Jeff Bezos, laissez-faire capitalism, Live Aid, market fundamentalism, Martin Wolf, mass immigration, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, moral hazard, mutually assured destruction, Naomi Klein, offshore financial centre, open borders, open economy, Peace of Westphalia, peak oil, pension reform, Plutocrats, plutocrats, popular capitalism, price stability, RAND corporation, reserve currency, rising living standards, road to serfdom, Ronald Reagan, shareholder value, Sinatra Doctrine, sovereign wealth fund, special economic zone, Steve Jobs, Stewart Brand, The Chicago School, The Great Moderation, The Myth of the Rational Market, Thomas Malthus, trickle-down economics, Washington Consensus, Winter of Discontent, zero-sum game

The most dramatic chapter of the Age of Transformation was about to be written. 6 EUROPE, 1989 THE YEAR OF REVOLUTIONS The single most dramatic event of the Age of Transformation was the fall of the Berlin Wall on November 9, 1989. The wall had divided Europe. It had separated the communist world from the capitalist world, and the Soviet bloc from the democratic world. The sight of thousands of East Germans streaming through the wall and into West Berlin on that November night was the sign that the cold war was over. A single global economic and political system was being formed—a “new world order,” as President George H. W. Bush called it. The fall of the Berlin Wall was a victory for the Western powers and for individual freedom. It was also a victory for Western consumerism. The symbol of the failure of East Germany swiftly became the Trabant, the small, unglamorous, underpowered national car of East Germany, which looked so pathetic next to the powerful Mercedes and BMWs that flaunted the economic power of West Germany.

That is why the first two sections of this book are devoted to the international and intellectual history of the past thirty years. Starting the narrative in 1978 may not seem obvious to all readers. Americans, in particular, have tended to regard the defining moments of recent history as the end of the cold war and the al-Qaeda attacks on the United States on September 11, 2001. One of the best recent histories of U.S. foreign policy is subtitled “From 11/9 to 9/11”—the two dates in question marking the fall of the Berlin Wall and the terrorist attack on the United States.12 But the collapse of the Soviet system and 9/11 were part of an even bigger story—the creation of a globalized world economic and political system. The two key events framing that story were the opening of China in 1978 and the 2008 crash. I have divided this thirty-year epoch into two distinct periods. The first section of this book deals with the Age of Transformation, which began in 1978, and explains how and why the world’s major powers all embraced globalization—and how this sparked the rise of China and India.

In Latin America, economic reformers were often at pains to distinguish their modest market-based measures from the “neo-liberalism” of Reagan and Thatcher,25 neither of whom were particularly popular figures south of the Rio Grande after the Falklands War and Reagan’s support of the Contra rebels in Nicaragua. By contrast, Reagan and Thatcher were popular heroes in much of Central and Eastern Europe, a fact that caused a certain amount of pain and confusion to their left-wing and liberal opponents back home. The fall of the Berlin Wall and the collapse of the Soviet Union took place after Reagan left office. Yet these events cast a retrospective glow of vindication over his presidency. Reagan was able to argue with some justice in his memoirs, published in 1990, that the previous decade had witnessed a “stunning renaissance of democracy and economic freedom”26 around the world. Reagan’s attitude to democracy was, as with Thatcher, more equivocal than either leader would later care to acknowledge.


pages: 223 words: 58,732

The Retreat of Western Liberalism by Edward Luce

3D printing, affirmative action, Airbnb, basic income, Berlin Wall, Bernie Sanders, Branko Milanovic, Bretton Woods, call centre, carried interest, centre right, cognitive dissonance, colonial exploitation, colonial rule, computer age, corporate raider, cuban missile crisis, currency manipulation / currency intervention, Dissolution of the Soviet Union, Doha Development Round, Donald Trump, double entry bookkeeping, Erik Brynjolfsson, European colonialism, everywhere but in the productivity statistics, Fall of the Berlin Wall, Francis Fukuyama: the end of history, future of work, George Santayana, gig economy, Gini coefficient, global supply chain, illegal immigration, imperial preference, income inequality, informal economy, Internet of things, Jaron Lanier, knowledge economy, liberal capitalism, Marc Andreessen, Mark Zuckerberg, Martin Wolf, mass immigration, means of production, Monroe Doctrine, moral panic, more computing power than Apollo, mutually assured destruction, new economy, New Urbanism, Norman Mailer, offshore financial centre, one-China policy, Peace of Westphalia, Peter Thiel, Plutocrats, plutocrats, precariat, purchasing power parity, reserve currency, Richard Florida, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, Snapchat, software is eating the world, South China Sea, Steve Jobs, superstar cities, TaskRabbit, telepresence, The Wealth of Nations by Adam Smith, Thomas L Friedman, Tyler Cowen: Great Stagnation, universal basic income, unpaid internship, Washington Consensus, We are the 99%, We wanted flying cars, instead we got 140 characters, white flight, World Values Survey, Yogi Berra

On 9 November, the morning after the US presidential election, as I tried to make sense of the dawning new reality I recalled that invitation. By eerie coincidence, it was twenty-seven years to the day since the fall of the Berlin Wall. The worm had turned. America had just elected a president who was a big fan of walls and a big admirer of Vladimir Putin. While Putin was surveying his wrecked world in 1989, and we were racing down the Autobahn, Donald Trump was launching a board game. It was called Trump: The Game. With its fake paper money and property-based rules, it bore an uncanny resemblance to Monopoly – except that the number six on the dice was replaced with the letter T. Unsurprisingly, it was a flop. There is no record that Trump said anything positive or negative about the fall of the Berlin Wall. At any rate, all that seemed a long time ago. America had just elected a man who admired the way politics was done in Russia.

GDP numbers insist we are doing well, at a time when half the country is suffering from personal recessions. The world’s most informative graph is the Elephant Chart.* Devised by Branko Milanovic, a former World Bank staffer, this statistical pachyderm has many virtues. It is intuitively simple and tells you pretty much everything you need to know about the era of high globalisation since the fall of the Berlin Wall. It shows the distribution of more than two decades of growth between different percentiles of the global economy. The global median – the emerging middle classes of China, Vietnam, India and so on – enjoyed income growth of more than 80 per cent in those years. Even the bottom deciles, in Africa and South Asia, saw growth of up to 50 per cent. The key part of the elephant for the Western middle classes is where its trunk slopes downwards – between the seventy-fifth and ninetieth percentiles of the world’s population.

Davos perhaps ought first to have read what people are saying on the internet. As one person quipped about Donald Trump’s Twitter-propelled candidacy, ‘It is like the comments section running for president.’ If this is thought leadership, how does thought followership sound? Davos has become the emblem of a global elite that has lost its ability to listen. I began this book with a reminiscence about the fall of the Berlin Wall. A decade later, I found myself employed as speechwriter to Lawrence Summers, when he was the US Secretary of the Treasury in the Clinton administration. Looking back, I am astonished at that era’s unshakeable self-confidence. This was the high noon of the Washington Consensus. Alongside Alan Greenspan, the chairman of the US Federal Reserve, and Robert Rubin, the previous Treasury Secretary, Summers personified the global intellectual elite.


pages: 323 words: 95,188

The Year That Changed the World: The Untold Story Behind the Fall of the Berlin Wall by Michael Meyer

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Ayatollah Khomeini, bank run, Berlin Wall, Bonfire of the Vanities, Bretton Woods, BRICs, call centre, Fall of the Berlin Wall, falling living standards, Francis Fukuyama: the end of history, haute couture, mass immigration, Mikhail Gorbachev, mutually assured destruction, Ronald Reagan, Ronald Reagan: Tear down this wall, union organizing

Also by Michael Meyer The Alexander Complex THE YEAR THAT CHANGED THE WORLD The Untold Story behind the Fall of the Berlin Wall MICHAEL MEYER SCRIBNER A Division of Simon & Schuster, Inc. 1230 Avenue of the Americas New York, NY 10020 www.SimonandSchuster.com Copyright © 2009 by Michael Meyer All rights reserved, including the right to reproduce this book or portions thereof in any form whatsoever. For information, address Scribner Subsidiary Rights Department, 1230 Avenue of the Americas, New York, NY 10020. First Scribner hardcover edition September 2009 SCRIBNER and design are registered trademarks of The Gale Group, Inc., used under license by Simon & Schuster, Inc., the publisher of this work. For information about special discounts for bulk purchases, please contact Simon & Schuster Special Sales: 1-866-506-1949 or business@simonandschuster.com The Simon & Schuster Speakers Bureau can bring authors to your live event.

He could tell a graduating class of West Point cadets in 2006 that, as in the Cold War, America today must “confront” new dangers. Indeed, the word became one of the most popular verbs in his rhetorical arsenal. “We will confront threats… confront new adversaries… confront new enemies… and never back down, never give in, never accept anything less than complete victory.” Again, the Reagan echo with a nod to Winston Churchill. Be resolute, and the enemy will blink. Goodness and light will triumph. The fall of the Berlin Wall serves as proof and inspiration. There’s only one problem—that of disjuncture, a confusion of cause and effect. What if it didn’t happen quite that way? Let us return to that fateful moment. It was the night of November 9, 1989. The place: Checkpoint Charlie, the famous border crossing in the heart of Cold War Berlin. The Wall loomed up, grim and forbidding. In the harsh yellow glare of the frontier’s high-intensity arc lights, strewn round with barbed wire and tank traps, thousands of East Germans faced a thin line of Volkspolizei, the ubiquitous state police.

“I asked him specifically, ‘If we set a date for an election and are voted out, would you intervene as in 1956?’ ” Without a hint of hesitation, Gorbachev answered, “Nyet.” Then he paused and, with a ghost of a smile, added a telling caveat: “At least, not as long as I am sitting in this chair.” This no was of immense importance to Nemeth. “It meant we could go ahead. It opened the way for everything that would follow,” he said, from the creation of a democratic Hungary to, ultimately, the fall of the Berlin Wall. This brief encounter with Gorbachev, coming with the first breath of spring after a long winter, would prove to be a hidden but decisive turning point in the end of the Cold War. Yet Nemeth was not finished. Having accomplished his chief mission, he dropped a second bomb, in some ways even bigger than the first. He told Gorbachev that he wanted to pull Hungary out of the Warsaw Pact, the Soviet military alliance established as a counterweight to NATO.


pages: 331 words: 60,536

The Sovereign Individual: How to Survive and Thrive During the Collapse of the Welfare State by James Dale Davidson, Rees Mogg

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affirmative action, agricultural Revolution, bank run, barriers to entry, Berlin Wall, borderless world, British Empire, California gold rush, clean water, colonial rule, Columbine, compound rate of return, creative destruction, Danny Hillis, debt deflation, ending welfare as we know it, epigenetics, Fall of the Berlin Wall, falling living standards, feminist movement, financial independence, Francis Fukuyama: the end of history, full employment, George Gilder, Hernando de Soto, illegal immigration, income inequality, informal economy, information retrieval, Isaac Newton, Kevin Kelly, market clearing, Martin Wolf, Menlo Park, money: store of value / unit of account / medium of exchange, new economy, New Urbanism, offshore financial centre, Parkinson's law, pattern recognition, phenotype, price mechanism, profit maximization, rent-seeking, reserve currency, road to serfdom, Ronald Coase, school vouchers, seigniorage, Silicon Valley, spice trade, statistical model, telepresence, The Nature of the Firm, the scientific method, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, trade route, transaction costs, Turing machine, union organizing, very high income, Vilfredo Pareto

This requires that the taxes imposed upon the most productive citizens of the currently rich countries be priced at supermonopoly rates, hundreds or even thousands of times higher than the actual cost of the services that governments provide in return. 92 THE LIFE AND DEATH OF THE NATION-STATE The fall of the Berlin Wall was not just a visible symbol of the death of Communism. It was a defeat for the entire world system of nation-states and a triumph of efficiency and markets. The fulcrum of power underlying history has shifted. We believe that the fall of the Berlin Wall in 1989 culminates the era of the nation-state, a peculiar two-hundred-year phase in history that began with the French Revolution. States have existed for six thousand years. But before the nineteenth century, they accounted for only a small fraction of the world's sovereignties.

This, too, was considered unlikely, if not preposterous. Yet the following seven years brought the most sweeping disarmament since the close of World War I. At a time when experts in North America and Europe were pointing to Japan for support of the view that governments can successfully rig markets, we said otherwise. We forecast that the Japanese financial assets boom would end in a bust. Soon after the fall of the Berlin Wall, the Japanese stock market crashed, losing almost half its value. We continue to believe that its ultimate low could match or exceed the 89 percent loss that Wall Street suffered at the bottom after 1929. At a point when almost everyone, from the middle-class family to the world's largest real estate investors, appeared to believe that property markets could only rise and not fall, we warned that a real estate bust was in the offing.

It was a time when the returns to violence were high and rising. They no longer are. A phase transition of world-historic dimensions has already begun. Indeed, the future Gibbon who chronicles the decline and fall of the once-Modern Age in the next millennium may declare that it had already ended by the time you read this book. Looking back, he may say, as we do, that it ended with the fall of the Berlin Wall in 1989. Or with the death of the Soviet Union in 1991. Either date could come to stand as a defining event in the evolution of civilization, the end of what we now know as the Modern Age. The fourth stage of human development is coming, and perhaps its least predictable feature is the new name under which it will be known. Call it "Post-Modern." Call it the "Cyber Society" or the "Information Age."


pages: 464 words: 139,088

The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King

Andrei Shleifer, Asian financial crisis, asset-backed security, balance sheet recession, bank run, banking crisis, banks create money, Berlin Wall, Bernie Madoff, Big bang: deregulation of the City of London, bitcoin, Black Swan, Bretton Woods, British Empire, capital controls, Carmen Reinhart, Cass Sunstein, central bank independence, centre right, collapse of Lehman Brothers, creative destruction, Credit Default Swap, crowdsourcing, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, distributed generation, Doha Development Round, Edmond Halley, Fall of the Berlin Wall, falling living standards, fiat currency, financial innovation, financial intermediation, floating exchange rates, forward guidance, Fractional reserve banking, Francis Fukuyama: the end of history, full employment, German hyperinflation, Hyman Minsky, inflation targeting, invisible hand, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, joint-stock company, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, labour market flexibility, large denomination, liquidity trap, Long Term Capital Management, manufacturing employment, market clearing, Martin Wolf, Mexican peso crisis / tequila crisis, money market fund, money: store of value / unit of account / medium of exchange, moral hazard, Myron Scholes, Nick Leeson, North Sea oil, Northern Rock, oil shale / tar sands, oil shock, open economy, paradox of thrift, Paul Samuelson, Ponzi scheme, price mechanism, price stability, purchasing power parity, quantitative easing, rent-seeking, reserve currency, Richard Thaler, rising living standards, Robert Shiller, Robert Shiller, Satoshi Nakamoto, savings glut, secular stagnation, seigniorage, stem cell, Steve Jobs, The Great Moderation, the payments system, Thomas Malthus, too big to fail, transaction costs, Tyler Cowen: Great Stagnation, yield curve, Yom Kippur War, zero-sum game

Their significance will become clear as the argument unfolds, but a brief definition and explanation may be helpful at the outset. Disequilibrium is the absence of a state of balance between the forces acting on a system. As applied to economics, a disequilibrium is a position that is unsustainable, meaning that at some point a large change in the pattern of spending and production will take place as the economy moves to a new equilibrium. The word accurately describes the evolution of the world economy since the fall of the Berlin Wall, which I discuss in Chapter 1. Radical uncertainty refers to uncertainty so profound that it is impossible to represent the future in terms of a knowable and exhaustive list of outcomes to which we can attach probabilities. Economists conventionally assume that ‘rational’ people can construct such probabilities. But when businesses invest, they are not rolling dice with known and finite outcomes on the faces; rather they face a future in which the possibilities are both limitless and impossible to imagine.

The story of the crisis By the start of the twenty-first century it seemed that economic prosperity and democracy went hand in hand. Modern capitalism spawned growing prosperity based on growing trade, free markets and competition, and global banks. In 2008 the system collapsed. To understand why the crisis was so big, and came as such a surprise, we should start at the key turning point – the fall of the Berlin Wall in 1989. At the time it was thought to represent the end of communism, indeed the end of the appeal of socialism and central planning. For some it was the end of history.16 For most, it represented a victory for free market economics. Contrary to the prediction of Marx, capitalism had displaced communism. Yet who would have believed that the fall of the Wall was not just the end of communism but the beginning of the biggest crisis in capitalism since the Great Depression?

In recent years, short-term real interest rates have actually been negative because official interest rates have been less than the rate of inflation. And the savings glut pushed down long-term real interest rates to unprecedentedly low levels.21 In the nineteenth century and most of the twentieth, real rates were positive and moved within a range of 3 to 5 per cent. My estimate is that the average ten-year world real interest rate fell steadily from 4 per cent or so around the fall of the Berlin Wall to 1.5 per cent when the crisis hit, and has since fallen further to around zero.22 As the Asian economies grew and grew, the volume of saving placed in the world capital market by their savers, including the Chinese government, rose and rose. So not only did those countries add millions of people to the pool of labour producing goods to be sold around the world, depressing real wages in other countries, they added billions of dollars to the pool of saving seeking an outlet, depressing real rates of interest in the global capital market.


pages: 220 words: 88,994

1989 The Berlin Wall: My Part in Its Downfall by Peter Millar

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anti-communist, back-to-the-land, Berlin Wall, Fall of the Berlin Wall, Francis Fukuyama: the end of history, glass ceiling, kremlinology, Marshall McLuhan, Mikhail Gorbachev, mutually assured destruction, pre–internet, QWERTY keyboard, Ronald Reagan, Ronald Reagan: Tear down this wall, Sinatra Doctrine, urban sprawl, working-age population

And finally I must acknowledge a huge debt of gratitude to my late mother who throughout that hectic period never failed to cut out her son’s clippings from whichever newspaper I was working for at the time, and to preserve them in a scrapbook for me. Her efforts have made the burden on my memory so much lighter. Foreword One thing needs saying before anything else, at least for those unfamiliar with the autobiographical works of Spike Milligan: I make no claim whatsoever to having been instrumental in the fall of the Berlin Wall any more than any other of the millions of people who experienced life behind it and the tremendous exhilaration of seeing its ugly scar removed from the face of a much-loved city. And a tumour excised from the heart of Europe. From 1981 until 1989 – and beyond – I was an eyewitness, albeit a highly involved one, to the events that shook the communist Soviet empire to its foundations, eventually toppling it, bringing down the Iron Curtain and leaving the way open for a fresh start in a new century.

But then nobody had known it would happen at all. Least of all the intelligence agencies of the West, caught napping on the eve of their greatest ‘victory’, as they would be again on September 11th, 2001, their greatest embarrassment. Not even the men who gave the orders in East Berlin knew it would happen. Not even as they gave them. They had intended something else. Something else entirely. The fall of the Berlin Wall was the triumphant vindication of the ‘cock-up’ theory of history, of what happens when those seemingly immovable objects of political inertia and the status quo get swept away by two irresistible forces: accident and emotion. I had been a hundred miles away on East Germany’s Baltic coast when the first checkpoint on the Wall that for a generation had severed one half of Berlin from the other was suddenly, unexpectedly thrown open.

And for them it really was a family reunion: Kerstin Falkner and her husband Andreas had only weeks before fled their home in East Berlin, via the West German Embassy in Poland, thinking it would be years before they saw the rest of their family again, if ever. Now she was standing arm in arm with her brother Horst and his wife Sylvia, who had only hours before walked through a gap in the Wall they thought would keep them apart forever. If for the world at large the fall of the Berlin Wall was theatre on a grand stage, for me it was as first-hand as a family wedding. Eight years earlier my wife and I had made a decrepit flat in a run-down corner of East Berlin our first family home. I had passed my driving test there. We had made friendships that would last a lifetime, lived alongside the natives in a world of grimy buildings pockmarked by bullet holes, of grey cobbled streets and the tiny Trabant cars with fibreglass bodies in fluorescent orange and apple green that rattled over them.


pages: 561 words: 87,892

Losing Control: The Emerging Threats to Western Prosperity by Stephen D. King

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Admiral Zheng, asset-backed security, barriers to entry, Berlin Wall, Bernie Madoff, Bretton Woods, BRICs, British Empire, capital controls, Celtic Tiger, central bank independence, collateralized debt obligation, corporate governance, credit crunch, crony capitalism, currency manipulation / currency intervention, currency peg, David Ricardo: comparative advantage, demographic dividend, demographic transition, Deng Xiaoping, Diane Coyle, Fall of the Berlin Wall, financial deregulation, financial innovation, fixed income, Francis Fukuyama: the end of history, full employment, George Akerlof, German hyperinflation, Gini coefficient, hiring and firing, income inequality, income per capita, inflation targeting, invisible hand, Isaac Newton, knowledge economy, labour market flexibility, labour mobility, liberal capitalism, low skilled workers, market clearing, Martin Wolf, mass immigration, Mexican peso crisis / tequila crisis, Naomi Klein, new economy, old age dependency ratio, Paul Samuelson, Ponzi scheme, price mechanism, price stability, purchasing power parity, rent-seeking, reserve currency, rising living standards, Ronald Reagan, savings glut, Silicon Valley, Simon Kuznets, sovereign wealth fund, spice trade, statistical model, technology bubble, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Market for Lemons, The Wealth of Nations by Adam Smith, Thomas Malthus, trade route, transaction costs, Washington Consensus, women in the workforce, working-age population, Y2K, Yom Kippur War

The voices of the people went unheeded and unheard. This was a world of empires and imperfect suffrage. Under the influence of self-determination, sponsored by an increasingly powerful US hostile to colonial influence, the empires of the nineteenth century collapsed in the wars and economic crises that followed. The biggest casualty, most obviously, was the British Empire. The Ottoman Empire went the same way and, with the fall of the Berlin Wall in 1989, so did the Soviet Union’s twentieth-century empire. The result was a huge proliferation of nation states. According to Freedom House, there were only fifty-five sovereign countries in 1900, alongside thirteen empires. That compares with the 192 states which, in 2009, were members of the United Nations. Of today’s nations, 113 used to be part of colonial and imperial systems, while a further thirty-three were parts of other states.

The dreams of central planners had turned into nightmares of bureaucracy and corruption, leaving East German consumers with products that wouldn’t survive in a world dominated by free market choice. While the West Germans could whiz around in their Audis, the East Germans had to make do with Trabants. Although the cars are treated with nostalgic affection today, Trabant production lasted only a couple of years after the fall of the Berlin Wall in 1989. Given the choice, East Germans preferred to scrap their heavily polluting and remarkably slow Trabants (0–60mph in 21 seconds) and replace them with second-hand cars from Western Europe. The Trabant was dumped onto the scrapheap of Soviet communism. Those employed making Trabants and other relics of the Soviet era ended up without jobs, and were supported instead by handouts from the wealthy citizens of former West Germany.3 Not all Soviet-era car companies went the same way.

It went on to produce a number of innovative designs in the 1960s and 1970s but could make only limited headway in Western markets, where advances in motor technology and marketing were far greater. Indeed, by the 1980s, the Škoda brand had become something of a joke. In the UK, Škoda gags became very popular.4 (Q: ‘How do you double the value of a Škoda?’ A: ‘Fill its tank with gas’.) With the fall of the Berlin Wall it became clear that Škoda, like the manufacturers of the Trabant, would not be able to survive as an independent company. In 1991, it became part of the Volkswagen Group, alongside Audi and Seat. Since then, its fortunes have been transformed and the jokes have been long forgotten. In 2008, Škoda managed 674,530 sales, the largest number in its long and sometimes turbulent history. Its biggest markets, interestingly, are other emerging economies.


pages: 354 words: 92,470

Grave New World: The End of Globalization, the Return of History by Stephen D. King

9 dash line, Admiral Zheng, air freight, Albert Einstein, Asian financial crisis, bank run, banking crisis, barriers to entry, Berlin Wall, Bernie Sanders, bilateral investment treaty, bitcoin, blockchain, Bonfire of the Vanities, borderless world, Bretton Woods, British Empire, capital controls, Capital in the Twenty-First Century by Thomas Piketty, central bank independence, collateralized debt obligation, colonial rule, corporate governance, credit crunch, currency manipulation / currency intervention, currency peg, David Ricardo: comparative advantage, debt deflation, deindustrialization, Deng Xiaoping, Doha Development Round, Donald Trump, Edward Snowden, eurozone crisis, facts on the ground, failed state, Fall of the Berlin Wall, falling living standards, floating exchange rates, Francis Fukuyama: the end of history, full employment, George Akerlof, global supply chain, global value chain, hydraulic fracturing, Hyman Minsky, imperial preference, income inequality, income per capita, incomplete markets, inflation targeting, information asymmetry, Internet of things, invisible hand, joint-stock company, Long Term Capital Management, Martin Wolf, mass immigration, Mexican peso crisis / tequila crisis, moral hazard, Nixon shock, offshore financial centre, oil shock, old age dependency ratio, paradox of thrift, Peace of Westphalia, Plutocrats, plutocrats, price stability, profit maximization, quantitative easing, race to the bottom, rent-seeking, reserve currency, reshoring, rising living standards, Ronald Reagan, Scramble for Africa, Second Machine Age, Skype, South China Sea, special drawing rights, technology bubble, The Great Moderation, The Market for Lemons, the market place, trade liberalization, trade route, Washington Consensus, WikiLeaks, Yom Kippur War, zero-sum game

Victorians would be shocked to find that their beloved British Empire – which provided the essential foundations for nineteenth-century globalization – had more or less disappeared by the late 1940s, by which time the UK itself was on the brink of bankruptcy. Those many fans of the Soviet economic system during the 1930s Depression years would doubtless be astonished to discover that the entire edifice began to crumble following the fall of the Berlin Wall in 1989. SOUTHERN SPAIN Even when patterns of globalization endure for many centuries, they can break down remarkably quickly, leading to dramatic changes in fortune. Consider, for example, the history of Andalucía in southern Spain, a story that veered from one seemingly permanent political structure (Islam) to another (Christianity) within just a handful of years. In AD 711, a Muslim Berber force travelled from North Africa across the Mediterranean to reach southern Spain.

London and Paris eventually established a tougher ‘Dual Control’ system – which understandably provoked a nationalist backlash and an army revolt.13 To be fair, it has not all been reverse gear in Europe. For many years, former Soviet satellites appeared to have found a home in the European Union’s welcoming democratic arms. Poland, for example, went from strength to strength economically following the fall of the Berlin Wall in 1989. Between 1990 and 2015, Polish per capita incomes more than doubled, thanks in large part to major institutional reforms associated with Poland’s efforts to join the EU, a feat it eventually accomplished in 2004. The contrast with Ukraine – stuck in a no man’s land between the European Union and Russia – is striking. In the early 1990s, Ukraine and Poland had roughly similar living standards but, after two decades of both relative and absolute economic decline, Ukrainian per capita incomes had dropped to less than 40 per cent of those in Poland by 2015.14 Yet even in Poland – one of the most visible beneficiaries of Central Europe’s reorientation – developments following the global financial crisis raise doubts about the European Union’s ‘common values’.

This process, however, is not just about efficiency gains: cross-border movement of both labour and capital is also, in part, a process that reduces inequalities of income and opportunity by levelling a previously very steeply inclined playing field. The failures of Soviet-style communism prevented Eastern European countries from making significant economic progress in the decades following the Second World War: their living standards slowly fell behind those in the West. While there has been some renewed convergence since the fall of the Berlin Wall in 1989, a large gap in living standards remains: in 2014, per capita incomes in Hungary, Romania and Bulgaria were less than half those in the Netherlands, Germany, France and the UK. Merging these labour markets should ultimately mean higher levels of output and more investment, in theory making everyone better off. But, as with moves towards free trade, there will also be distributional winners and losers.


pages: 239 words: 56,531

The Secret War Between Downloading and Uploading: Tales of the Computer as Culture Machine by Peter Lunenfeld

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Albert Einstein, Andrew Keen, Apple II, Berlin Wall, British Empire, Brownian motion, Buckminster Fuller, Burning Man, butterfly effect, computer age, creative destruction, crowdsourcing, cuban missile crisis, Dissolution of the Soviet Union, don't be evil, Douglas Engelbart, Douglas Engelbart, Dynabook, East Village, Edward Lorenz: Chaos theory, Fall of the Berlin Wall, Francis Fukuyama: the end of history, Frank Gehry, Grace Hopper, gravity well, Guggenheim Bilbao, Honoré de Balzac, Howard Rheingold, invention of movable type, Isaac Newton, Jacquard loom, Jacquard loom, Jane Jacobs, Jeff Bezos, John Markoff, John von Neumann, Mark Zuckerberg, Marshall McLuhan, Mercator projection, Metcalfe’s law, Mother of all demos, mutually assured destruction, Network effects, new economy, Norbert Wiener, PageRank, pattern recognition, peer-to-peer, planetary scale, Plutocrats, plutocrats, Post-materialism, post-materialism, Potemkin village, RFID, Richard Feynman, Richard Feynman, Richard Stallman, Robert Metcalfe, Robert X Cringely, Schrödinger's Cat, Search for Extraterrestrial Intelligence, SETI@home, Silicon Valley, Skype, social software, spaced repetition, Steve Ballmer, Steve Jobs, Steve Wozniak, Ted Nelson, the built environment, The Death and Life of Great American Cities, the medium is the message, Thomas L Friedman, Turing machine, Turing test, urban planning, urban renewal, Vannevar Bush, walkable city, Watson beat the top human players on Jeopardy!, William Shockley: the traitorous eight

To delineate the period we are living through, I combine the hopefulness that followed the fall of the Berlin Wall with the fear and rage that followed the attacks on the World Trade Center in 2001. This period I call 89/11 (pronounced “eightynine eleven”), and this section of the book will both define that era’s characteristics and move past the stasis it engendered via the creation of what I term “bespoke futures.”1 What looked like it would be a facile history in 1989—the victory of one sort of built system over another, the triumph of democracy over totalitarianism, capitalism over a command economy—turned out to be vastly more complex. The post-1989 period contained a multitude of features, but one unifying construct was the belief that after the fall of the Berlin Wall and then the Soviet Union itself, not just Communism, but all the countervailing forces against market capitalism were vanquished, and not just for the moment but literally for all time.

Though jeered at by professional planners of her day—one dismissed her work as “bitter coffee-house ramblings”—Jacobs has certainly had the last laugh, with The Death and Life of Great American Cities utterly upending town planning for more than fifty years through its articulation of precisely what makes a neighborhood worth inhabiting. We will spend at least another generation working out how Jacob’s fine-grained mixtures should function within digital environments, but mining her work for insights into the culture machine does not stop there. Just after the fall of the Berlin wall and the breakup of the Soviet Union, Jacobs wrote Systems of Survival: A Dialogue on the Moral Foundations of Commerce and Politics, in which she identifies two complementary and opposing moral syndromes: one based on taking (also known as the guardian syndrome), and the other based on trading (or the commercial syndrome). These two are sometimes mutually reinforcing and sometimes in grave opposition, but 85 CHAPTER 4 both are required for a viable culture.

The tolerant, antistatist, neoliberal tone of established media like the New York Times cried out for lampoons, though none were forthcoming in 1999, a year in which triumphalism dominated (in 103 CHAPTER 5 large measure because the New Economy was so dependent on the fantasies of political and technological omnipotence). The histories we inherit tend to be the stories of conflicts as written by the victors. Discursive excesses aside, 1989 was of central importance to the way we make culture and think about history decades later. That year saw the Czech Velvet Revolution, the fall of the Berlin Wall, the reunification of Germany, the eventual fissioning of the Soviet Union, the emergence of the Baltic states, and the continued extension of market reforms in China (which coincided with the political repression of Tiananmen Square). The Polish trade unionist, journalist, and now capitalist newspaper owner Adam Michnik put it well when he noted in a commemoration that “the revolution of 1989 was a great change without a great utopia.”

On Nature and Language by Noam Chomsky

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Alfred Russel Wallace, anti-communist, Berlin Wall, Bretton Woods, complexity theory, dark matter, Fall of the Berlin Wall, Murray Gell-Mann, Steven Pinker, theory of mind, Turing test

What is important is their overwhelming consistency, a fact that has been extensively documented in dissident literature, where it can easily be ignored, as Orwell pointed out in his unknown essay on voluntary censorship in free societies. Although this course is misleading for the reasons mentioned, I will nevertheless illustrate the general pattern with a few current examples. Given the consistency, contemporary examples are rarely hard to find. We are meeting in November 1999, a month that happens to be the tenth anniversary of several important events. One was the fall of the Berlin Wall, which effectively brought the Soviet system to an end. A second was the final large-scale massacre in El Salvador, carried out by US terrorist forces called “the army of El Salvador” – organized, armed, and trained by the reigning superpower, which has long controlled the region in essentially this manner. The worst atrocities were carried out by elite units fresh from renewed US training, very much like the Indonesian commandos who were responsible for shocking atrocities in East Timor, once again, this year – continuing at this very moment, in fact, in camps in Indonesian West Timor.

There is a great deal more to say about the tenth anniversary of the assassination of the Jesuit intellectuals, and the coming twentieth anniversary of the assassination of the Archbishop, and the slaughter of several hundred thousand people in Central America in the years between, mostly by the same hands, with the responsibility tracing back to the centers of power in the self-anointed “enlightened states.” There is also much more to say about the performance of the secular priesthood throughout these awful years and until today. The record has been reviewed in some detail in print, with the usual fate of “unpopular ideas.” There is perhaps little point in reviewing it again, and time is short, so let me turn to the second anniversary: the fall of the Berlin Wall. This too is a rich topic, one that has received a great deal of attention on the tenth anniversary, unlike the destruction of Central America by US terror. Let us consider some of the consequences of the collapse of the Soviet dungeon that largely escaped attention – in the West, not among the traditional victims. One consequence of the collapse of the USSR was an end to nonalignment. When two superpowers ruled the world – one global, the other regional – there was a certain space for nonalignment.

One element of this freedom is access to secret planning documents. The openness does not matter much: the press, and intellectuals generally, commonly adhere to the 172 The secular priesthood and the perils of democracy “general tacit agreement that ‘it wouldn’t do’ to mention” what they reveal. But the information is there, for those who choose to know. I will mention a few recent examples to give the flavor. Immediately after the fall of the Berlin Wall, US global strategy shifted in an instructive way. It is called “deterrence strategy,” because the US only “deters” others, and never attacks. This is an instance of another historical universal, or close to it: in a military conflict, each side is fighting in self-defense, and it is an important task of the secular priesthood, on all sides, to uphold that banner vigorously. At the end of the Cold War, US “deterrence strategy” shifted: from Russia, to the South, the former colonies.

9-11 by Noam Chomsky

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Berlin Wall, failed state, Fall of the Berlin Wall, Howard Zinn, Ralph Nader, Ronald Reagan, War on Poverty

Department of Justice, file A28 851 622, A11 861 810. 30. Graham Allison, “How to Stop Nuclear Terror,” Foreign Affairs, January/February 2004. 31. Robertson, Daily Beast, 2011. 9-11 1. Not Since the War of 1812 Based on an interview with Il Manifesto (Italy), September 19, 2001. Q: The fall of the Berlin Wall didn’t claim any victims, but it did profoundly change the geopolitical scene. Do you think that the attacks of 9-11 could have a similar effect? CHOMSKY: The fall of the Berlin Wall was an event of great importance and did change the geopolitical scene, but not in the ways usually assumed, in my opinion. I’ve tried to explain my reasons elsewhere and won’t go into it now. The horrifying atrocities of September 11 are something quite new in world affairs, not in their scale and character, but in the target.


pages: 322 words: 77,341

I.O.U.: Why Everyone Owes Everyone and No One Can Pay by John Lanchester

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asset-backed security, bank run, banking crisis, Berlin Wall, Bernie Madoff, Big bang: deregulation of the City of London, Black-Scholes formula, Celtic Tiger, collateralized debt obligation, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, Daniel Kahneman / Amos Tversky, diversified portfolio, double entry bookkeeping, Exxon Valdez, Fall of the Berlin Wall, financial deregulation, financial innovation, fixed income, George Akerlof, greed is good, hindsight bias, housing crisis, Hyman Minsky, intangible asset, interest rate swap, invisible hand, Jane Jacobs, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, laissez-faire capitalism, light touch regulation, liquidity trap, Long Term Capital Management, loss aversion, Martin Wolf, money market fund, mortgage debt, mortgage tax deduction, mutually assured destruction, Myron Scholes, negative equity, new economy, Nick Leeson, Norman Mailer, Northern Rock, Own Your Own Home, Ponzi scheme, quantitative easing, reserve currency, Right to Buy, risk-adjusted returns, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, South Sea Bubble, statistical model, The Great Moderation, the payments system, too big to fail, tulip mania, value at risk

How did we get from an economy in which banks and credit function the way they are supposed to, to this place we’re in now, the Reykjavíkization of the world economy? The crisis was based on a problem, a mistake, a failure, and a culture; but before it was any of those things, it arose from a climate—and the climate was that which followed the capitalist world’s victory over communism and the fall of the Berlin Wall. This was especially apparent to me because I grew up in Hong Kong at the time when it was the most unbridled free-market economy in the world. Hong Kong was the economic Wild West. There were no rules, no income taxes (well, eventually there was a top tax of 15 percent), no welfare state, no guarantee of health care or schooling. Shanty-towns sprawled halfway up the hillsides of Hong Kong island; the inhabitants of those shanties had no electricity or running water or medicine or education for their children.

A more modern view would be that free-market capitalism has an inherent propensity for inequality and for cycles of boom and bust—there’s an extensive body of work studying these cycles. We can note that, in the current case, the practice fit the theory. The biggest boom in seventy years turned straight into the biggest bust. The rest of this book tells the story of how that happened, but there was one essential precursor to all the subsequent events, without which the explosion and implosion would not have occurred in the form they did: and that was the fall of the Berlin wall, the collapse of the Soviet Union, and the end of the Cold War. Explicit arguments about the conflict between the West and the Communist bloc were never especially profitable. The camps were too entrenched; the larger philosophical issues tended to be boiled off until nothing but the residue of party politics remained. On the right, it was so obvious that the Communist regimes were mass-murdering prison states that there was nothing further of profit to be discussed.

David Kynaston points out that under communism, children from primary school upward were taught the principles and practice of the system and were thoroughly drilled in how it was supposed to work. There is nothing comparable to that in the capitalist world. The City is, in terms of its basic functioning, a far-off country of which we know little. This climate of thinking informed all subsequent events. With the fall of the Berlin Wall, capitalism began a victory party that ran for almost two decades. Capitalism is not inherently fair: it does not, in and of itself, distribute the rewards of economic growth equitably. Instead it runs on the bases of winner take all and to them that hath shall be given. For several decades after the Second World War, the Western liberal democracies devoted themselves to the question of how to harness capitalism’s potential for economic growth to the political imperative to provide better lives for ordinary people.

The Age of Turbulence: Adventures in a New World (Hardback) - Common by Alan Greenspan

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air freight, airline deregulation, Albert Einstein, asset-backed security, bank run, Berlin Wall, Bretton Woods, business process, call centre, capital controls, central bank independence, collateralized debt obligation, collective bargaining, conceptual framework, Corn Laws, corporate governance, corporate raider, correlation coefficient, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, cuban missile crisis, currency peg, Deng Xiaoping, Dissolution of the Soviet Union, Doha Development Round, double entry bookkeeping, equity premium, everywhere but in the productivity statistics, Fall of the Berlin Wall, fiat currency, financial innovation, financial intermediation, full employment, Gini coefficient, Hernando de Soto, income inequality, income per capita, invisible hand, Joseph Schumpeter, labor-force participation, labour market flexibility, laissez-faire capitalism, land reform, Long Term Capital Management, Mahatma Gandhi, manufacturing employment, market bubble, means of production, Mikhail Gorbachev, moral hazard, mortgage debt, Myron Scholes, new economy, North Sea oil, oil shock, open economy, Pearl River Delta, pets.com, Potemkin village, price mechanism, price stability, Productivity paradox, profit maximization, purchasing power parity, random walk, reserve currency, Right to Buy, risk tolerance, Ronald Reagan, shareholder value, short selling, Silicon Valley, special economic zone, the payments system, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, total factor productivity, trade liberalization, trade route, transaction costs, transcontinental railway, urban renewal, working-age population, Y2K, zero-sum game

The postwar liberalization of trade helped open up new low-cost sources of supply; coupled with the development of new financial institutions and products (made possible in part by silicon-based technologies), it facilitated the forward thrust toward global market capitalism even during the years of the cold war. In the following quarter century, the embrace of free-market capitalism helped bring inflation to quiescence and interest rates to single digits globally. The defining moment for the world's economies was the fall of the Berlin Wall in 1989, revealing a state of economic ruin behind the iron curtain far beyond the expectations of the most knowledgeable Western economists. Central planning was exposed as an unredeemable failure; coupled with and supported by the growing disillusionment over the interventionist economic policies of the Western democracies, market capitalism began quietly to displace those policies in much of the world.

"I do not want to see us move so strongly against inflation that we impede growth," he said. Normally such differences would get aired and resolved behind the scenes. I'd been looking toward building the same collaborative relationship with the White House that I'd seen during the Ford administration and that I knew had existed at times between Reagan and Paul Volcker. It was not to be. Great things happened on George Bush's watch: the fall of the Berlin Wall, the end of the cold war, a clear victory in the Persian Gulf, and the negotiation of the NAFTA agreement to free North American trade. But the economy was his Achilles' heel, and as a result we ended up with a terrible relationship. 113 More ebooks visit: http://www.ccebook.cn ccebook-orginal english ebooks This file was collected by ccebook.cn form the internet, the author keeps the copyright.

And in the wake of the collapse of Communism, Russia is struggling with a mild form of Dutch disease today. Over the past thirty-five years, as many countries have labored to liberalize their economies and improve the quality of their policies, global per capita income has risen steadily. This has especially been the case in countries that previously were fully or partially centrally planned and that, since the fall of the Berlin Wall, have embraced some form of market capitalism. I recognize that poverty rates are notoriously hard to quantify, but according to the World Bank, the number of people living on less than $1 per day, a commonly used extreme-poverty threshold, has fallen dramatically from 1,247 million in 1990 to 986 million in 2004. In addition, since 1970, the infant mortality rate has declined by more than half, school enrollment rates have risen steadily, and literacy rates are up.* *Figures on world poverty rates are from t h e World Bank and a 2002 study by Columbia University economist Xavier Sala-i-Martin.

Hopes and Prospects by Noam Chomsky

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Albert Einstein, banking crisis, Berlin Wall, Bretton Woods, British Empire, capital controls, colonial rule, corporate personhood, Credit Default Swap, cuban missile crisis, David Ricardo: comparative advantage, deskilling, en.wikipedia.org, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Firefox, Howard Zinn, Hyman Minsky, invisible hand, liberation theology, market fundamentalism, Martin Wolf, Mikhail Gorbachev, Monroe Doctrine, moral hazard, new economy, nuremberg principles, one-state solution, open borders, Plutonomy: Buying Luxury, Explaining Global Imbalances, Ralph Waldo Emerson, RAND corporation, Ronald Reagan, structural adjustment programs, The Wealth of Nations by Adam Smith, too big to fail, total factor productivity, trade liberalization, uranium enrichment, Washington Consensus

Chapter 12 draws on talks in October to November 2009, in the United Kingdom and Ireland, and at Boston College (November 30), a commemoration of the assassinations of November 16, 1989. PART I Latin America ONE Year 514: Globalization for Whom? Human affairs proceed in their intricate, endlessly varied, and unpredictable paths, but occasionally events occur that are taken to be sharp turning points in history. There have been several in recent years. It is a near platitude in the West that after September 11, 2001, nothing will be the same. The fall of the Berlin wall in 1989 was another event accorded this high status. There is a great deal to say about these two cases, both the myth and the reality. But in referring to the 514th year I of course have something different in mind: the year 1492, which did, undoubtedly, direct world history on a radically new course, with awesome and lasting consequences. As we know, the voyages of Columbus opened the way to the European conquest of the Western hemisphere, with hideous consequences for the indigenous population, and soon for Africans brought here in one of the vilest episodes of history.

TWELVE 1989 and Beyond The month of November 2009 was marked by the joyous twentieth-anniversary celebration of what British historian Timothy Garton Ash calls “the biggest year in world history since 1945.” That remarkable year “changed everything,” thanks primarily to Mikhail Gorbachev’s reforms within Russia and his “breathtaking renunciation of the use of force…a luminous example of the importance of the individual in history,” leading to the partially open Russian elections of March 1989 and culminating in the fall of the Berlin wall on November 9, which opened the way to liberation of Eastern Europe from Russian tyranny. The general mood was captured well by barrister Matthew Ryder, speaking for the “niners,” the generation that is now providing global leadership, with Barack Obama in the lead, their conception of history having been “shaped by a world changed without guns” in 1989, events that gave them confidence in the power of dedication to nonviolence and justice.1 The accolades for November 9 are deserved, and the events are indeed memorable.

Another perspective on the 2009 celebrations is provided by the work of the leading scholar/advocate of “democracy promotion,” neo-Reaganite Thomas Carothers, reviewed earlier. He ruefully concludes that all U.S. leaders have been “schizophrenic,” supporting democracy if and only if it conforms to strategic and economic objectives: hence in Soviet satellites but not U.S. client states.4 These judgments were once again confirmed by the events that reached their culmination in November 1989, and again on the twentieth anniversary. The fall of the Berlin wall was rightly celebrated in November 2009, but there was virtually no notice of what had happened one week later in El Salvador, on November 16, 1989: the brutal assassination of six prominent Latin American intellectuals, Jesuit priests, along with their housekeeper Julia Elba and her daughter Celina, by the elite Atlacatl battalion, armed and trained by Washington. The battalion had just returned from a several-month refresher course at the JFK Special Warfare School at Fort Bragg, and a few days before the murders underwent a further training exercise run by U.S.


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What's Left?: How Liberals Lost Their Way by Nick Cohen

anti-communist, Ayatollah Khomeini, Berlin Wall, Boycotts of Israel, British Empire, centre right, Etonian, failed state, Fall of the Berlin Wall, Farzad Bazoft, feminist movement, haute couture, kremlinology, liberal world order, light touch regulation, mass immigration, moral hazard, Naomi Klein, Plutocrats, plutocrats, post-industrial society, profit motive, Ralph Nader, road to serfdom, Ronald Reagan, Scientific racism, sensible shoes, the scientific method, union organizing, upwardly mobile, Yom Kippur War

The foreign minister of mighty Luxembourg stirred the blood of true believers when he thundered in an indomitable voice, ‘The hour of Europe has come!’ The hour of Europe had done nothing of the sort. Postmodern Paradise had a fatal weakness: it wasn’t prepared to fight for itself or its values. Indeed, its post-modern condition rested on the belief that it had no absolute values that were not open to negotiation. With conflict unimaginable, the leaders of Paradise felt no need to waste money on preparing for war. After the fall of the Berlin Wall, they cashed in on the peace dividend and reduced military spending from 3 to 2 per cent of gross domestic product while the US kept it at 3 per cent. A difference of 1 per cent doesn’t sound a vast gap. But Paradise’s welfare state was becoming ever more expensive as its inhabitants lived longer and had fewer children. The enjoyment of Paradise’s exquisite regional cuisines and the relaxation brought by long holidays at its innumerable resorts were easier to afford without the costs and inconveniences of raising the young.

That apparently insignificant 1 per cent difference in GDP bought a revolution in American military technology. More important than the money was the European mentality. With children rare, their parents weren’t prepared to risk the lives of the young in battle. They reassured themselves that the lesson of recent history was that fighting got you nowhere. The EU had brought peace to Western Europe for fifty years, while the fall of the Berlin Wall had been a miracle. A terrible ideological conflict between opponents equipped with nuclear weapons that had threatened to destroy the planet had ended with barely a shot fired. Unarmed citizens took to the streets of Prague, Berlin and Dresden and – poof – communism was gone. The residents of Paradise didn’t like to think that pressure from the American arms build-up had played a part in finishing the Soviet Union.

The Tories’ friends on the Left made a rickety bridge between the old and the new protest movements. On the one hand, they bellowed the last hurrah of the Marxists of the twentieth century. Milosevic said he was a socialist, and they took him at his word, and insisted that capitalists were using crimes manufactured by the media to justify the break-up of Yugoslavia because it was the last corner of Europe holding out against market economics after the fall of the Berlin Wall. Their conspiracy theory didn’t make the slightest sense. The published diaries of Milosevic lieutenants show that they, not the ‘capitalist’ West, planned the break-up of Yugoslavia. The idea that Serb nationalists were the last socialists in Europe fighting a desperate rearguard action against the forces of the ‘hegemonic’ market was dished by the fact that the Conservative administration of John Major and the equally right-wing Republican administration of George Bush senior refused to stop their ethnic cleansing.


pages: 325 words: 99,983

Globish: How the English Language Became the World's Language by Robert McCrum

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Alistair Cooke, anti-communist, Berlin Wall, British Empire, call centre, colonial rule, credit crunch, cuban missile crisis, Deng Xiaoping, Etonian, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, invention of movable type, invention of writing, invisible hand, Isaac Newton, jimmy wales, knowledge economy, Livingstone, I presume, Martin Wolf, Naomi Klein, Norman Mailer, Parag Khanna, Ralph Waldo Emerson, Republic of Letters, Ronald Reagan, sceptred isle, Scramble for Africa, Silicon Valley, Steven Pinker, the new new thing, The Wealth of Nations by Adam Smith, Thomas L Friedman, trade route, transatlantic slave trade, transcontinental railway, upwardly mobile

By the late 1970s the Soviet and American stand-off was nearing its final phase, occasionally referred to as the ‘second Cold War’. Now the Anglo-American hegemony-often hotly disputed by anti-American liberals – was wholly underpinned by rampant capitalism, represented by Margaret Thatcher’s premiership in Britain and Ronald Reagan’s two-term presidency in the United States. After the fall of the Berlin Wall in 1989 this new global culture would morph into the worldwide cultural revolution that would become Globish. The eerie decade that preceded the crisis of 2001 was the first in a century in which the world was no longer in the shadow of war. Francis Fukuyama declared ‘the End of History’. It was during this unreal and optimistic hiatus that the little term coined by Jean-Paul Nerrière in 1995, ‘Globish’ – simple, inelegant and almost universal-first gained currency.

French outrage settled on the news that Disney’s American managers required English to be spoken throughout Mickey’s new French domain. Le Figaro hoped, ‘with all its heart’, that ‘the rebels would set fire to EuroDisney’. The French theatre director Ariane Mnouchkine went further. EuroDisney, she announced, would be ‘a cultural Chernobyl’. These declarations were partly the expressions of a traditional French reflex, but also an indication of a wider European dismay at the unipolar world that took shape after the fall of the Berlin Wall. The logical culmination of the American century, the 1990s seemed to presage the death throes of a distinctive European culture. So this final decade began with increasingly vehement outbursts of anti-Americanism. In July 1992, with the wounds inflicted by EuroDisney still raw, some 250 French personalities and intellectuals, including novelists and poets, signed a petition demanding that Mitterrand’s government enact a law announcing the mandatory use of French in all meetings, seminars and conferences, in all French-sponsored films-indeed, in all transactions conducted on French soil.

London, Boston, San Francisco, Kuala Lumpur, Bangalore: in the new knowledge economy, all these cities could be linked simultaneously, offering a new challenge as much for a modernising India as for a globalising America. ‘My God,’ exclaimed Friedman, ‘he’s telling me the world is flat.’ Armed with this insight, Friedman mobilised himself to explore the many economic aspects of globalisation, from Wal-Mart to Yahoo!, that were contributing to this flattening process. For Friedman, the fall of the Berlin Wall, the rise of the PC, Netscape, outsourcing, and ‘off – shoring’ – his ‘flattening’ forces – combined to enhance a new global awareness. Millions of people [he writes] on different continents suddenly started to feel that something was new. They couldn’t always quite describe what was happening, but by 2000 they sensed that they were in touch with people they’d never been in touch with before, were being challenged by people who had never challenged them before, were competing with people they had never competed with before … In the new millennium ‘what they were feeling’, he concluded, was the ‘flattening of the world’.


pages: 523 words: 111,615

The Economics of Enough: How to Run the Economy as if the Future Matters by Diane Coyle

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accounting loophole / creative accounting, affirmative action, bank run, banking crisis, Berlin Wall, bonus culture, Branko Milanovic, BRICs, call centre, Cass Sunstein, central bank independence, collapse of Lehman Brothers, conceptual framework, corporate governance, correlation does not imply causation, Credit Default Swap, deindustrialization, demographic transition, Diane Coyle, disintermediation, Edward Glaeser, endogenous growth, Eugene Fama: efficient market hypothesis, experimental economics, Fall of the Berlin Wall, Financial Instability Hypothesis, Francis Fukuyama: the end of history, George Akerlof, Gini coefficient, global supply chain, Gordon Gekko, greed is good, happiness index / gross national happiness, Hyman Minsky, If something cannot go on forever, it will stop - Herbert Stein's Law, illegal immigration, income inequality, income per capita, industrial cluster, information asymmetry, intangible asset, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Jane Jacobs, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, knowledge economy, labour market flexibility, light touch regulation, low skilled workers, market bubble, market design, market fundamentalism, megacity, Network effects, new economy, night-watchman state, Northern Rock, oil shock, Pareto efficiency, principal–agent problem, profit motive, purchasing power parity, railway mania, rising living standards, Ronald Reagan, selective serotonin reuptake inhibitor (SSRI), Silicon Valley, South Sea Bubble, Steven Pinker, The Design of Experiments, The Fortune at the Bottom of the Pyramid, The Market for Lemons, The Myth of the Rational Market, The Spirit Level, transaction costs, transfer pricing, tulip mania, ultimatum game, University of East Anglia, web application, web of trust, winner-take-all economy, World Values Survey, zero-sum game

The upward trend in the number of natural disasters around the world seems an apt reflection of the financial and economic crisis, and the sense of crisis so many people in many countries feel about their political and business elites.1 We’ve reached the point of Enough. The recent experience of economic growth is that it has destroyed opportunities, either for particular social groups or for future generations. Can it be reshaped in order to continue without incurring such untenable costs? One possible conclusion would be that this point marks the end of the triumphant free market capitalism that has ruled economic policy since the fall of the Berlin Wall and collapse of communism. The financial crisis and subsequent recession have certainly made the role of government more prominent, but mainly as a result of crisis management. Many commentators have argued that the state should reenter economic management in a more deliberate way, given the staggering demonstrations of market failure we’ve experienced.2 I will indeed go on in this part of the book to discuss the many ways in which markets fail, and the policy conclusions to which pervasive market failures point.

But that raises the question of when efficiency and markets should rule, and when by contrast other considerations matter more. There is no definitive answer. It will depend on circumstances. However, the circumstances are changing. The changing structure of the economy is affecting the way markets should be organized. HOW MARKETS FAIL Two decades after the crisis of communism, capitalism seems to be in crisis. Or so it is widely believed. To mark the twentieth anniversary of the fall of the Berlin Wall—and around the first anniversary of the onset of the massive financial crisis—the BBC’s World Service commissioned a survey about capitalism covering more than twenty-nine thousand people in twenty-seven countries. Only in two countries—the United States and Pakistan—did more than a fifth of respondents agree that capitalism is working well. Across all twenty-seven countries, only 11 percent thought the system works well as it stands, while 23 percent said it is fatally flawed—rising to 43 percent in France and 38 percent in Mexico.

The last chapter discussed the need for better information to guide policy, and this chapter has discussed the need for clarity about values if social welfare is to be well served by policymakers. The third leg of the Economy of Enough is a set of institutions that ensure that society is governed well, and this is the subject of the next chapter. How might we respond to a general crisis of governance? EIGHT Institutions The recent anniversary of the November 1989 fall of the Berlin Wall brought back emotional memories for Europeans of my generation. Like many children growing up in the Cold War 1960s, I had nuclear nightmares: grey landscapes of ash and devastation with no one else left alive, and the ticking of Geiger counters counting out the rest of eternity. The postwar division of Europe dominated the cultural landscape too. Literature and the arts were shaped by it, as much as politics and diplomacy.

Powers and Prospects by Noam Chomsky

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anti-communist, Berlin Wall, Bretton Woods, colonial rule, declining real wages, deindustrialization, deskilling, Fall of the Berlin Wall, invisible hand, Jacques de Vaucanson, John von Neumann, liberation theology, Monroe Doctrine, old-boy network, RAND corporation, Ronald Reagan, South China Sea, theory of mind, Tobin tax, Turing test

Nor are they likely to be subjected to the results of a 1994 Gallup poll, considered to be the first independent and scientific survey, published in the Miami Spanish-language press but apparently not elsewhere: that 88 per cent said they were ‘proud of being Cuban’ and 58 per cent that ‘the revolution’s successes outstrip its failures’, 69 per cent identified themselves as ‘revolutionaries’ (but only 21 per cent as ‘Communist’ or ‘socialist’), 76 per cent said they were ‘satisfied with their personal life’, and 3 per cent said that ‘political problems’ were the key problems facing the country. If such Communist atrocities were to be known, it might be aecessary to nuke Havana instead of simply trying to kill as many people as possible from starvation and disease to bring ‘democracy’. That became the new pretext for strangling Cuba after the fall of the Berlin wall, the ideological institutions not missing a beat as they shifted gears. No longer was Cuba an agent of the Kremlin, bent on taking over Latin America and conquering the United States, trembling in terror. The lies of 30 years can be quietly shelved: terror and economic warfare have always been an attempt to bring democracy, in the revised standard version. Therefore we must tighten the embargo that ‘has contributed to an increase in hunger, illness, death and to one of the world’s largest neurological epidemics in the past century’, according to health experts writing in US medical journals in October 1994.

Many times, in fact, though the US has sometimes been able to mobilise El Salvador, Romania, and a few others to the cause of justice and freedom; and in the Security Council, Britain is fairly reliable, taking second place in vetoes (France a distant third) since the 1960s, when Moscow’s dominance became intolerable to true democrats.4 As Kennedy’s ‘monolithic and ruthless conspiracy’ engaged in world conquest faded from the scene in the 1980s, the search was on for new aggressors threatening our borders and our lives. Libya, disliked and defenceless, served as a particularly useful punching bag for courageous Reaganites. Other candidates include crazed Arabs generally, international terrorists, or whoever else can be conjured up. When George Bush celebrated the fall of the Berlin Wall by invading Panama, it was not in defence against Communism; rather, the demon Noriega, captured, tried, and condemned for his crimes, almost all committed while he was on the CIA payroll. At this moment, half of US military aid goes to Colombia, the hemisphere’s leading human rights violator, with a shocking record of atrocities. The pattern is typical, but the pretext is not; this time, it is defence against narcotraffickers.

And when one participant suggested that others might be doing the Russians’ work for them, President Eisenhower took ‘vigorous exception’, the record reveals.15 We need hardly argue the point any longer; it is coming to be conceded, even officially, the pretext no longer serving any useful purpose. The transition was rapid. Well into 1989, the US was defending itself against global Communist aggression. By the year’s end that was not what it was (or even had been) doing. In March 1990, the White House made its regular presentation to Congress to explain why the Pentagon budget must be kept at its colossal level, the first presentation after the fall of the Berlin Wall in November 1989. The conclusion was the usual one, but the reasons were now different: the threat was not the Kremlin, but the ‘growing technological sophistication’ of the Third World. In particular, the US must maintain its intervention forces aimed at the Middle East because of ‘the free world’s reliance on energy supplies from this pivotal region’, where the ‘threats to our interests could not be laid at the Kremlin’s door’ in recent years.

Rogue States by Noam Chomsky

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anti-communist, Asian financial crisis, Berlin Wall, Branko Milanovic, Bretton Woods, capital controls, collective bargaining, colonial rule, creative destruction, cuban missile crisis, declining real wages, deskilling, Edward Snowden, experimental subject, Fall of the Berlin Wall, floating exchange rates, labour market flexibility, labour mobility, land reform, liberation theology, Mikhail Gorbachev, Monroe Doctrine, new economy, oil shock, RAND corporation, Silicon Valley, strikebreaker, structural adjustment programs, Tobin tax, union organizing, Washington Consensus

Also needed are intervention forces aimed at the Middle East, where in past years, “the threats to our interests” that required military intervention “could not be laid at the Kremlin’s door,” contrary to half a century of propaganda, now quietly shelved. Rather, the threats were “radical nationalism,” meaning intolerable independence. With the clouds lifted, the sun shone through briefly, but has been ignored. With Russian support for Cuba ending, the US stepped up its economic warfare, hoping to move in for the kill. Meanwhile within US domains, matters continued routinely. A week after the fall of the Berlin Wall, ending the Cold War, six leading Latin American intellectuals, Jesuit priests, were murdered by an elite Salvadoran battalion, armed and trained by the US, and fresh from renewed US training, acting on direct orders of the High Command. There was little notice, in accord with the Orwellian principle. They were not honored dissidents, just more unpeople, in Orwellian parlance. A few weeks later the US invaded Panama killing unknown numbers of people in the slums that were heavily bombarded, thousands according to Central American human rights organizations.

That ended the Cold War as far as any sane person was concerned. In October 1989, a month before, the Bush administration had released a secret national security directive, now public, in which it called for support for our great friend Saddam Hussein and other comparable figures in the Middle East in defense against the Russians. That was October 1989. In March 1990—that’s four months after the fall of the Berlin Wall—the White House had to make its annual presentation to Congress calling for a huge military budget, which was the same as in all earlier years, except for the pretexts. Now it wasn’t because the Russians are coming, because obviously the Russians aren’t coming, it was because of what they called the “technological sophistication” of Third World powers. With regard to the Middle East, instructions had been changed from October—then, it was: “the Russians are coming.”

With regard to the Middle East, instructions had been changed from October—then, it was: “the Russians are coming.” In March, it was: our intervention forces have to be aimed at the Middle East as before, where the threat to our interests “could not be laid at the Kremlin’s door,” contrary to the lies of the last 40 years. Case by case, the pretext changed, the policies remained—but were now without restraints. That was immediately obvious in Latin America. A month after the fall of the Berlin Wall the US invaded Panama, killing a couple of hundred or maybe a couple of thousand people, destroying poor neighborhoods, reinstating a regime of bankers and narcotraffickers—drug peddling and money laundering shot way up, as congressional research bureaus soon advised—and so on. That’s normal, a footnote to history, but there were two differences: one difference is that the pretexts were different.


pages: 403 words: 111,119

Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist by Kate Raworth

3D printing, Asian financial crisis, bank run, basic income, battle of ideas, Berlin Wall, bitcoin, blockchain, Branko Milanovic, Bretton Woods, Buckminster Fuller, call centre, Capital in the Twenty-First Century by Thomas Piketty, Cass Sunstein, choice architecture, clean water, cognitive bias, collapse of Lehman Brothers, complexity theory, creative destruction, crowdsourcing, cryptocurrency, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, dematerialisation, Douglas Engelbart, Douglas Engelbart, en.wikipedia.org, energy transition, Erik Brynjolfsson, ethereum blockchain, Eugene Fama: efficient market hypothesis, experimental economics, Exxon Valdez, Fall of the Berlin Wall, financial deregulation, Financial Instability Hypothesis, full employment, global supply chain, global village, Henri Poincaré, hiring and firing, Howard Zinn, Hyman Minsky, income inequality, Intergovernmental Panel on Climate Change (IPCC), invention of writing, invisible hand, Isaac Newton, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, land reform, land value tax, Landlord’s Game, loss aversion, low skilled workers, M-Pesa, Mahatma Gandhi, market fundamentalism, Martin Wolf, means of production, megacity, mobile money, Mont Pelerin Society, Myron Scholes, neoliberal agenda, Network effects, Occupy movement, off grid, offshore financial centre, oil shale / tar sands, out of africa, Paul Samuelson, peer-to-peer, planetary scale, price mechanism, quantitative easing, randomized controlled trial, Richard Thaler, Ronald Reagan, Second Machine Age, secular stagnation, shareholder value, sharing economy, Silicon Valley, Simon Kuznets, smart cities, smart meter, South Sea Bubble, statistical model, Steve Ballmer, The Chicago School, The Great Moderation, the map is not the territory, the market place, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, too big to fail, Torches of Freedom, trickle-down economics, ultimatum game, universal basic income, Upton Sinclair, Vilfredo Pareto, wikimedia commons

Many events that first appear to be sudden and external – what mainstream economists often describe as ‘exogenous shocks’ – are far better understood as arising from endogenous change. In the words of the political economist Orit Gal, ‘complexity theory teaches us that major events are the manifestation of maturing and converging underlying trends: they reflect change that has already occurred within the system’.11 From this perspective, the 1989 fall of the Berlin Wall, the 2008 collapse of Lehman Brothers and the imminent collapse of the Greenland ice sheet have much in common. All three are reported in the news as sudden events but are actually visible tipping points that result from slowly accumulated pressure in the system – be it the gradual build-up of political protest in Eastern Europe, the build-up of sub-prime mortgages in a bank’s asset portfolio, or the build-up of greenhouse gases in the atmosphere.

Talk given at Connecting For Change: Bioneers by the Bay conference, the Marion Institute, 28 October 2012, available at: https://www.youtube.com/watch?v=MIIzogiUHFY 83. Pearce, J. (2015) ‘Quantifying the value of open source hardware development’, Modern Economy, 6, pp. 1–11. 84. Bauwens, M. (2012) Blueprint for P2P Society: The Partner State and Ethical Society, http://www.shareable.net/blog/blueprint-for-p2p-society-the-partner-state-ethical-economy 85. Lakner, C. and Milanovic, B. (2015) ‘Global income distribution: from the fall of the Berlin Wall to the Great Recession’, The World Bank Economic Review, pp. 1–30. 86. OECD (2014) Detailed Final 2013 Aid Figures Released by OECD/DAC. http://www.oecd.org/dac/stats/final2013oda.htm 87. OECD (2015) ‘Non-ODA flows to developing countries: remittances’, available at: http://www.oecd.org/dac/stats/beyond-oda-remittances.htm 88. Financial Inclusion Insights (2015) Kenya: Country Context. http://finclusion.org/country-pages/kenya-country-page/ 89.

Kumhof, M. and Rancière, R. (2010) Inequality, Leverage and Crises. IMF Working Paper, WP/10/268, Washington, DC: IMF. Kuznets, S. (1955) ‘Economic growth and income inequality’, American Economic Review, 45: 1, pp. 1–28. Lacy, P. and Rutqvist, J. (2015) Waste to Wealth: the circular economy advantage. New York: Palgrave Macmillan. Lakner, C. and Milanovic, B. (2015) ‘Global income distribution: from the fall of the Berlin Wall to the Great Recession’, World Bank Economic Review, 1–30. Lakoff, G. (2014) The All New Don’t Think of an Elephant. White River Junction, VT: Chelsea Green Publishing. Lakoff, G. and Johnson, M. (1980) Metaphors We Live By. Chicago: University of Chicago Press. Leach, M., Raworth, K. and Rockström, J. (2013) Between Social and Planetary Boundaries: Navigating Pathways in the Safe and Just Space for Humanity, World Social Science Report.


pages: 258 words: 63,367

Making the Future: The Unipolar Imperial Moment by Noam Chomsky

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Albert Einstein, Berlin Wall, Bretton Woods, British Empire, capital controls, collective bargaining, corporate governance, corporate personhood, creative destruction, deindustrialization, energy security, failed state, Fall of the Berlin Wall, financial deregulation, Frank Gehry, full employment, Howard Zinn, Joseph Schumpeter, kremlinology, liberation theology, Long Term Capital Management, market fundamentalism, Mikhail Gorbachev, Occupy movement, oil shale / tar sands, precariat, RAND corporation, Ronald Reagan, structural adjustment programs, The Great Moderation, too big to fail, uranium enrichment, Washington Consensus, WikiLeaks, working poor

By such actions, repeated by others everywhere as best they can, the prospects for peace edge closer to hopes. The Legacy of 1989 in Two Hemispheres December 1, 2009 November [2009] marked the anniversary of major events in 1989: “the biggest year in world history since 1945,” as British historian Timothy Garton Ash describes it. That year “changed everything,” Garton Ash writes. Mikhail Gorbachev’s reforms within Russia and his “breathtaking renunciation of the use of force” led to the fall of the Berlin Wall on November 9—and to the liberation of Eastern Europe from Russian tyranny. The accolades are deserved; the events, memorable. But alternative perspectives may be revealing. German chancellor Angela Merkel provided such a perspective—unintentionally—when she called on all of us to “use this invaluable gift of freedom . . . to overcome the walls of our time.” One way to follow her good advice would be to dismantle the massive wall, dwarfing the Berlin wall in scale and length, now snaking through Palestinian territory in violation of international law.

Another perspective on 1989 comes from Thomas Carothers, a scholar who served in “democracy enhancement” programs in the administration of former President Ronald Reagan. After reviewing the record, Carothers concludes that all U.S. leaders have been “schizophrenic”—supporting democracy if it conforms to U.S. strategic and economic objectives, thus in Soviet satellites but not in U.S. client states. This perspective is dramatically confirmed by the recent commemoration of the events of November 1989. The fall of the Berlin wall was rightly celebrated, but there was little notice of what happened one week later: on November 16, in El Salvador, the assassination of six leading Latin American intellectuals, Jesuit priests, along with their housekeeper and her daughter, by the elite, U.S.-armed Atlacatl battalion, fresh from renewed training at the JFK Special Warfare School in Fort Bragg, North Carolina. The battalion and its cohorts had already compiled a bloody record through the grisly decade in El Salvador that began in 1980 with the assassination, by much the same hands, of Archbishop Oscar Romero, known as “the voice of the voiceless.”


pages: 171 words: 54,334

Barefoot Into Cyberspace: Adventures in Search of Techno-Utopia by Becky Hogge, Damien Morris, Christopher Scally

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A Declaration of the Independence of Cyberspace, back-to-the-land, Berlin Wall, Buckminster Fuller, Chelsea Manning, citizen journalism, cloud computing, corporate social responsibility, disintermediation, Douglas Engelbart, Douglas Engelbart, Electric Kool-Aid Acid Test, Fall of the Berlin Wall, game design, Hacker Ethic, informal economy, information asymmetry, Jacob Appelbaum, jimmy wales, John Markoff, Julian Assange, Kevin Kelly, mass immigration, Menlo Park, moral panic, Mother of all demos, Naomi Klein, Network effects, New Journalism, Norbert Wiener, peer-to-peer, Richard Stallman, Silicon Valley, Skype, Socratic dialogue, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, technoutopianism, Telecommunications Act of 1996, Vannevar Bush, Whole Earth Catalog, Whole Earth Review, WikiLeaks

Fierce Dancing filled in the blanks, it told the stories of the alternative cultures – pagans, new age travellers, punks and drop-outs – that had coalesced around this scene and contributed to its vibrancy. It told tales of women who gardened vegetable plots in no knickers, tepee valleys in the depths of Wales, and how to make poppy tea. It was, in that most adolescent sense, a revelation. And to an adolescent growing up in the consumerist nineties, seven years after the fall of the Berlin Wall and seventeen years into the rule of Margaret Thatcher’s Conservative party where alternative ideas about how to live seemed only to exist to sell ice cream and health drinks, it was also an escape. I’d often wondered what had happened to all the hippies. My favourite film at that time was Easy Rider. The legacy of the counterculture was celebrated in books and on TV, but, outside of the odd rave, the world around me seemed to contain little of the freedom, the rebellion and the exuberance that the sixties had supposedly promised.

Watching over us, across the snowy moonscape of eastern Berlin, is the Alexanderplatz television tower. A flying saucer spiked on a giant needle, it is the perfect vision of Soviet futurism. Twenty yards from the door at which it looks like my journey will end prematurely, a flock of municipal exhibition stands have come to rest on Alexanderplatz, commemorating the 20th anniversary of the fall of the Berlin Wall. Black and white photos of GDR rebels – crouched over printing presses pumping out samizdat, or else in small groups, smoking – look nonchalantly into the lens of posterity. Who took these photos? Which of their fellow freedom fighters knew we would want to look back on this congregation of young minds which changed the course of history? The photos are captioned in French, English and German, interspersed with grainy pictures of officials from the regime, the tortuous surveillance equipment of the Stasi, or the bright, art-punk graphics of the underground magazines that spread the rebels’ message of freedom.


pages: 160 words: 46,449

The Extreme Centre: A Warning by Tariq Ali

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Affordable Care Act / Obamacare, Berlin Wall, bonus culture, BRICs, British Empire, centre right, deindustrialization, Edward Snowden, Fall of the Berlin Wall, financial deregulation, first-past-the-post, full employment, labour market flexibility, land reform, light touch regulation, means of production, Mikhail Gorbachev, Monroe Doctrine, mortgage debt, negative equity, Neil Kinnock, North Sea oil, obamacare, offshore financial centre, popular capitalism, reserve currency, Ronald Reagan, South China Sea, The Chicago School, The Wealth of Nations by Adam Smith, trade route, trickle-down economics, Washington Consensus, Westphalian system, Wolfgang Streeck

In practice NATO became a mechanism, controlled by the United States, whereby its European allies were kept under a military umbrella. And yet it is worth noting that throughout the Cold War years, from 1949 to 1990, NATO never fought a single battle. It was neither tried nor tested. Instead, it was a military propaganda organization, designed to control allies rather than punish enemies. Yet things changed following the fall of the Berlin Wall. Where once the purpose was a defensive show of strength, it now became an offensive test of strength, giving rise to operational shifts and corresponding changes in its command structure. This was on public record at the Welsh summit in 2014. There have been two and a half phases in NATO’s development since 1949. The original members comprised the United States, the United Kingdom, Belgium, Canada, France, Denmark, Norway and Iceland.

To think that the military-political leadership of the United States is preparing to go back home after organizing a soft dismantling of its overseas empire is eminently comforting and wholly untrue. The economic situation in the US and Europe is serious, but not terminal. The economic, political and military components of the present crisis are the direct result of the capitalist triumphalism that gripped the West after the fall of the Berlin Wall in 1989. The strategic and economic policies prescribed by the United States and accepted without question by their global allies – the Washington Consensus – were not hasty improvisations. The gleeful governors of the new world order, initially surprised by the speed of the collapse in the Soviet Union, moved rapidly to take full advantage of circumstances. The dawn of the ‘unipolar moment’ was seen in the blitzkrieg of the 1991 Gulf War, which sealed American pre-eminence and exorcized the ghosts of Vietnam.


pages: 221 words: 55,901

The Globalization of Inequality by François Bourguignon

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Berlin Wall, Branko Milanovic, Capital in the Twenty-First Century by Thomas Piketty, collective bargaining, Credit Default Swap, deglobalization, deindustrialization, Doha Development Round, Edward Glaeser, European colonialism, Fall of the Berlin Wall, financial deregulation, financial intermediation, gender pay gap, Gini coefficient, income inequality, income per capita, labor-force participation, liberal capitalism, minimum wage unemployment, offshore financial centre, open economy, Pareto efficiency, purchasing power parity, race to the bottom, Robert Gordon, Simon Kuznets, structural adjustment programs, The Spirit Level, too big to fail, very high income, Washington Consensus

In fact, once we stop normalizing and use the original household survey data, estimates of global distribution show a slightly slower reversal in inequality trends. The acceleration then takes place in the 2000s rather than the mid-­ 1990s.16 Since this represents a more recent phenomenon, maybe it has not registered for everyone yet. See table 2 in the appendix to this chapter. Using a different database, Christoph Lakner and Branko Milanovic (“Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession,” World Bank Policy Research Working Paper No. 6719, Washington, DC, 2013) found the same drop in inequality in the 2000s, although less pronounced than in table 2. Two recent draft papers reach the same conclusion. The first one, by Miguel Niño-­Zarazay, Laurence Roopez, and Finn Tarp, “Global Interpersonal Inequality: Trends and Measurement” (WIDER Working Paper 2014/004) based on GDP per capita normalized data finds that the drop in global inequality may have started around 1980.

The defining institutional change in the last quarter of the twentieth century was undoubtedly the deregulation of markets and the process of economic liberalization, launched at the end of the 1970s in the United States by the Reagan administration and in the United Kingdom by the Thatcher government. This would later spread to the rest of the world, with a significant acceleration after the fall of the Berlin Wall in 1989. These reforms sought to relax what were seen as the overly strict regulations that states had placed on markets in the aftermath of the finan- 92 Chapter 3 cial crisis of the 1930s and the Second World War, and to liberate individual initiative from what were seen as stifling levels of taxation and regulation. The economic climate— national economies were adapting to a changing world economy, which had just undergone its first major postwar shock with the oil price crises of the 1970s—made the implementation of these reforms politically feasible.


pages: 249 words: 79,740

The Next Decade: Where We've Been . . . And Where We're Going by George Friedman

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airport security, Ayatollah Khomeini, Berlin Wall, British Empire, continuation of politics by other means, creative destruction, Deng Xiaoping, facts on the ground, Fall of the Berlin Wall, full employment, hydraulic fracturing, illegal immigration, Monroe Doctrine, Ronald Reagan, South China Sea

Certainly the Americans and the British had supported these NGOs, and the consultants who were now managing the campaigns of some of the pro-Western candidates in Ukraine had formerly managed elections in the United States. Western money from multiple sources clearly was going into the country, but from the American point of view, there was nothing covert or menacing in any of this. The United States was simply doing what it had done since the fall of the Berlin Wall: working with democratic groups to build democracies. This is where the United States and Russia profoundly parted company. Ukraine was divided between pro-Russian and anti-Russian factions, but the Americans merely saw themselves as supporting democrats. That the factions seen as democratic by the Americans were also the ones that were anti-Russian was, for the Americans, incidental. For the Russians, it was not incidental.

Its antecedents reach back to the early 1950s and the European Steel and Coal Community, a narrowly focused entity whose leaders spoke of it even then as the foundation for a European federation. It is coincidental but extremely important that while the EU idea originated during the Cold War, it emerged as a response to the Cold War’s end. In the west, the overwhelming presence of NATO and its controls over defense and foreign policy loosened dramatically. In the east, the fall of the Berlin Wall and the collapse of the Soviet Union found sovereign nations coming out of the shadows. It was at this point that Europe regained the sovereignty it had lost but that it is now struggling to define. The EU was envisioned to serve two purposes. The first was the integration of western Europe into a limited federation, solving the problem of Germany by binding it together with France, thereby limiting the threat of war.

Rethinking Money: How New Currencies Turn Scarcity Into Prosperity by Bernard Lietaer, Jacqui Dunne

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3D printing, agricultural Revolution, Albert Einstein, Asian financial crisis, banking crisis, Berlin Wall, BRICs, business climate, business process, butterfly effect, carbon footprint, Carmen Reinhart, clockwork universe, collapse of Lehman Brothers, complexity theory, conceptual framework, credit crunch, discounted cash flows, en.wikipedia.org, Fall of the Berlin Wall, fear of failure, fiat currency, financial innovation, Fractional reserve banking, full employment, German hyperinflation, happiness index / gross national happiness, job satisfaction, liberation theology, Marshall McLuhan, microcredit, mobile money, money: store of value / unit of account / medium of exchange, more computing power than Apollo, new economy, Occupy movement, price stability, reserve currency, Silicon Valley, the payments system, too big to fail, transaction costs, trickle-down economics, urban decay, War on Poverty, working poor

Those who succeed are free to take their share of the profits after taxes, and those who suffer losses have to bear consequences such as humiliation, bankruptcy, and possible litigation. This has brought about unmatched attainment of wealth, facilitated through competitive markets and driven by a competitive financial system, which, in turn, has spurred on even greater striving for more innovation, ingenuity, and originality. This is the underpinning of the great American dream, which has been triumphantly exported to the rest of the world after the fall of the Berlin Wall and rise of the Iron Curtain. Today, for instance, China, India, Brazil, and Poland, with their meteoric growth and the rise of their own meritocracies, are prime examples. That dream, however, has turned into a nightmare. We now have scientific proof that the monoculture of a single type of currency is a root cause of the repeated monetary and financial instabilities that have manifested throughout modern history.

Minorities were used as scapegoats by ethnic leaders to redirect anger away from themselves and toward a common enemy, providing the sociopolitical context for extreme nationalist leaders to gain power in the process. Within days of the 1998 monetary crisis in Indonesia, mobs were incited to violence against Chinese and other minorities. Similarly, in Russia, discrimination against minorities was aggravated by the financial collapse of the 1990s. With the fall of the Berlin Wall and the collapse of Soviet communism, it could be argued that the identified archenemy of the United States has now been supplanted with a new foe, immigrants and the poor. Today in the United States, there are some 1,018 identified hate groups compared to only 602 in 2000.18 Another important lesson, and an expensive one in terms of human misery with regard to cooperative currencies, is revealed by the more recent economic crisis in Argentina.


pages: 270 words: 73,485

Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One by Meghnad Desai

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3D printing, bank run, banking crisis, Berlin Wall, Big bang: deregulation of the City of London, Bretton Woods, BRICs, British Empire, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, central bank independence, collapse of Lehman Brothers, collateralized debt obligation, correlation coefficient, correlation does not imply causation, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, David Ricardo: comparative advantage, deindustrialization, demographic dividend, Eugene Fama: efficient market hypothesis, eurozone crisis, experimental economics, Fall of the Berlin Wall, financial innovation, Financial Instability Hypothesis, floating exchange rates, full employment, German hyperinflation, Gunnar Myrdal, Home mortgage interest deduction, imperial preference, income inequality, inflation targeting, invisible hand, Isaac Newton, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, laissez-faire capitalism, liquidity trap, Long Term Capital Management, market bubble, market clearing, means of production, Mexican peso crisis / tequila crisis, mortgage debt, Myron Scholes, negative equity, Northern Rock, oil shale / tar sands, oil shock, open economy, Paul Samuelson, price stability, purchasing power parity, pushing on a string, quantitative easing, reserve currency, rising living standards, risk/return, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, secular stagnation, seigniorage, Silicon Valley, Simon Kuznets, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Wealth of Nations by Adam Smith, Tobin tax, too big to fail, women in the workforce

Could it be that what we had for three-quarters of a century – guaranteed prosperity and rising living standards – are about to disappear and become the experience of these countries who have been stuck in misery for the same long period? As they emerge, are we submerging? Is this the consequence of what is called globalization? Globalization became a buzzword in the 1990s sometime after the fall of the Berlin Wall. It opened up an era of freer capital movements and freer trade across the world. It is hard to remember now that between 1992 and 2007 the developed and emerging economies enjoyed an unprecedentedly long period of growth with low inflation. These good things were attributed to globalization just as much as it is being blamed for the present slump. This was the period economists call the Great Moderation as quarrels among them about how the economy worked ceased after 30 years of debate (of course, they have resumed now).

They rely on a combination of longer run forces such as demographic trends and cycles, or bursts of innovation, such as the discovery of gold and silver (relevant for the Gold Standard during the nineteenth century) or innovations in credit creation, as happened in the late twentieth century, or oil/shale discoveries, and also political events which may change the geography of the markets, as the fall of the Berlin Wall did. Kondratieff did, however, cover data going back to the Industrial Revolution. The first Kondratieff cycle has an upswing from the 1780s to 1810/17 and a downward phase from 1810/17 to 1844/51.The next long cycle peaked somewhere between 1870 and 1875 and then entered a downward phase which ended in the 1890s. It is not difficult to bring these projections up to date as I did in Chapter 2 on cycles.

The Global Citizen: A Guide to Creating an International Life and Career by Elizabeth Kruempelmann

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Berlin Wall, business climate, corporate governance, Fall of the Berlin Wall, follow your passion, global village, job satisfaction, Menlo Park, money market fund, young professional

To help you work through and reflect on your life abroad, it can be rewarding to share your experiences, pictures, and memories with other global citizens who also have exciting C U LT U R E P R E P : A M I N I - C O U R S E FOR THE C U LT U R A L L Y C H A L L E N G E D 55 Reverse Culture Shock by Elizabeth Kruempelmann (ekruempe@hotmail.com) I experienced reverse culture shock when I returned to the States after a year studying abroad in Denmark and Germany. My senses were overloaded the whole time I was abroad. In addition to my business studies and field trips, I traveled to fifteen countries, experienced the fall of the Berlin Wall, learned two languages, and lived with a Danish family, Danish students, and a German family. My senses were stimulated almost every minute. When I returned home, there was simply nothing that stimulated my senses anymore. My mind had been programmed to speak foreign languages every day. Suddenly I had no outlet for all the words I was used to using regularly. My body had been accustomed to soaking up different sights and sounds, and suddenly I had to readjust to life on Maple Street.

Access to professors may also be different than what you are used to at your home university. My Danish professors occasionally joined the students after class at the local pub, and one professor even invited the entire class to his house for tea. Being able to chat with the professors in a casual manner about topics both related and unrelated to our course was so educational. We discussed a variety of topics affecting Europe at the time, from the fall of the Berlin Wall to the economic and political issues facing the European Union. The learning opportunities that exist outside the classroom can sometimes be even more rewarding than those in the classroom. A P P R E C I AT E D I F F E R E N T C U LT U R E S During a learning-abroad program you will interact on a daily basis with your host family, other students, teachers, and a local community that may deal with daily matters much differently than you.

BRING GIFTS A small gift from your homeland is a great way to start building lifelong relationships. If you are staying with a host family, bring a picture book of your own country to show them where you are from, or some local food and drink. And depending on where your travels take you, barter goods might come in handy. When my studyabroad class from Copenhagen visited Eastern Europe and Russia after the fall of the Berlin Wall, we brought cigarettes to pay for taxi cabs, candy for the kids, and items we knew the locals would want to trade for, like Levi jeans and perfume. In return, we received handpainted babushka dolls, Russian soldier uniforms, big furry hats, and worthless rubles. Having things to trade made it easy to strike up conversations with locals. We all learned a bit about each other and came away with treasured keepsakes.


pages: 538 words: 141,822

The Net Delusion: The Dark Side of Internet Freedom by Evgeny Morozov

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A Declaration of the Independence of Cyberspace, Ayatollah Khomeini, Berlin Wall, borderless world, Buckminster Fuller, Cass Sunstein, citizen journalism, cloud computing, cognitive dissonance, Columbine, computer age, conceptual framework, crowdsourcing, Dissolution of the Soviet Union, don't be evil, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global village, Google Earth, illegal immigration, invention of radio, invention of the printing press, invisible hand, John Markoff, John von Neumann, Marshall McLuhan, Naomi Klein, Network effects, new economy, New Urbanism, peer-to-peer, pirate software, pre–internet, Productivity paradox, RAND corporation, Ronald Reagan, Ronald Reagan: Tear down this wall, Silicon Valley, Silicon Valley startup, Sinatra Doctrine, Skype, Slavoj Žižek, social graph, Steve Jobs, technoutopianism, The Wisdom of Crowds, urban planning, Washington Consensus, WikiLeaks, women in the workforce

There were too many buzzwords—“deficiencies in the current market for innovation,” “harnessing the power of connection technologies,” “long-term dividends from modest investments in innovation”—but such, perhaps, was the cost of trying to look cool in front of the Silicon Valley audience. Excessive optimism and empty McKinsey-speak aside, it was Clinton’s creative use of recent history that really stood out. Clinton drew a parallel between the challenges of promoting Internet freedom and the experiences of supporting dissidents during the Cold War. Speaking of her recent visit to Germany to commemorate the twentieth anniversary of the fall of the Berlin Wall, Clinton mentioned “the courageous men and women” who “made the case against oppression by circulating small pamphlets called samizdat,” which “helped pierce the concrete and concertina wire of the Iron Curtain.” (Newseum was a very appropriate venue to give in to Cold War nostalgia. It happens to house the largest display of sections of the Berlin Wall outside of Germany). Something very similar is happening today, argued Clinton, adding that “as networks spread to nations around the globe, virtual walls are cropping up in place of visible walls.”

Seeing the internet as an ally, Bush, always keen to flaunt his credentials as the dissidents’ best friend—he met more than a hundred of them while in office—agreed to host a gathering of what he called “global cyber-dissidents” in, of all places, Texas. Featuring half a dozen political bloggers from countries like Syria, Cuba, Colombia, and Iran, the conference was one of the first major public events organized by the newly inaugurated George W. Bush Institute. The pomposity of its lineup, with panels like “Freedom Stories from the Front Lines” and “Global Lessons in eFreedom,” suggested that even two decades after the fall of the Berlin Wall, its veterans are still fluent in Manichean rhetoric. But the Texas conference was not just a gathering of disgruntled and unemployed neoconservatives; respected Internet experts, like Ethan Zuckerman and Hal Roberts of Harvard’s Berkman Center for Internet and Society, were in attendance as well. A senior official from the State Department—technically an Obama man—was also dispatched to Texas.

Much of the early scholarship on the subject greatly underestimated the need for entertainment and overestimated the need for information, especially of the political variety. Whatever external pressures, most people eventually find a way to accustom themselves to the most brutal political realities, whether by means of television, art, or sex. Furthermore, the fact that the media did such a superb job at covering the fall of the Berlin Wall may have influenced many observers to believe that it played a similarly benevolent role throughout the entire history of the Cold War. But this was just a utopian dream: Whatever noble roles media take on during extraordinary crisis situations should not be generalized, for their everyday functions are strikingly different and are much more likely to be geared toward entertainment (if only because it sells better).

Year 501 by Noam Chomsky

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anti-communist, Bartolomé de las Casas, Berlin Wall, Bolshevik threat, Bretton Woods, British Empire, capital controls, colonial rule, corporate governance, cuban missile crisis, declining real wages, Deng Xiaoping, deskilling, Dissolution of the Soviet Union, European colonialism, experimental subject, Fall of the Berlin Wall, Howard Zinn, invisible hand, land reform, land tenure, long peace, mass incarceration, means of production, Monroe Doctrine, non-tariff barriers, offshore financial centre, Plutocrats, plutocrats, price stability, Ralph Nader, Ralph Waldo Emerson, RAND corporation, Ronald Reagan, Simon Kuznets, strikebreaker, structural adjustment programs, the scientific method, The Wealth of Nations by Adam Smith, trade liberalization, trickle-down economics, union organizing, War on Poverty, working poor

In a 1988 end-of-year analysis of the Cold War in the New York Times, Dimitri Simes wrote that the impending disappearance of the Soviet enemy offers the US three advantages: first, we can shift NATO costs to European competitors; second, we can end “the manipulation of America by third world nations,” “resist unwarranted third world demands for assistance,” and strike a harder bargain with “defiant third world debtors”; and third, military power can be used more freely “as a United States foreign policy instrument...against those who contemplate challenging important American interests,” with no fear of “triggering counterintervention,” the deterrent having been removed. In brief, the US can regain some power within the rich men’s club, tighten the screws on the Third World, and resort more freely to violence against defenseless victims. The senior associate of the Carnegie Endowment for International Peace was right on target.30 The fall of the Berlin wall in November 1989 can be taken as the symbolic end of the Cold War. After that, it took real dedication to conjure up the Soviet threat, though habits die slowly. Thus, in early 1990, much excitement was generated by a document published anonymously by University of California Sovietologist Martin Malia, railing about how Brezhnev had “intervened at will throughout the Third World” and “Russia bestrode the world” while “the liberal-to-radical mainstream of Anglo-American Sovietology” regarded Stalinism as having “a democratic cast,” indulging in “blatant fantasies...about democratic Stalinism” and “puerile fetishization of Lenin,” along with a host of similar insights apparently picked up in some Paris café.

The banner is now democracy and human rights, upheld by political leaders and moralists who have demonstrated their commitment to these values with such integrity over the years, for example, during the murderous US crusade against the Church and others who dared organize the undeserving public in Central America through the 1980s. It would not be easy to invent a clearer demonstration of the fraudulence of the Cold War pretext; being doctrinally unacceptable, the conclusions remain invisible (see chapter 6). US opposition to Haitian independence for two centuries also continued, quite independently of the Cold War. Events of the 1980s, notably after the fall of the Berlin wall, also illustrate with much clarity traditional US distaste for democracy and indifference to human rights. We return to details (chapter 8). Another instructive example is Saddam Hussein, a favored friend and trading partner of the West right through his worst atrocities. As the Berlin wall was tottering in October 1989, the White House intervened directly, in a highly secret meeting, to ensure that Iraq would receive another $1 billion in loan guarantees, overcoming Treasury and Commerce department objections that Iraq was not creditworthy.

The principled US opposition to the use of force in international affairs was revealed again through the 1980s; for example, by Washington’s decisive support for Israel’s invasion of Lebanon and the accompanying slaughter, the government-media reaction to the World Court judgment in 1986 ordering the US to desist from its “unlawful use of force” against Nicaragua, Bush’s invasion of Panama to celebrate the fall of the Berlin wall and the end of the Cold War, and much else.28 According to the USG-Times version, Washington “refused to normalize relations as long as a Vietnamese-backed Government in Cambodia resisted a negotiated settlement to its civil war” (Steven Greenhouse); that is, the conflict with the Khmer Rouge, supplied by China and Thailand (and, indirectly, the US and its allies), and attacking Cambodian rural areas from their Thai sanctuaries.29 The reality is a bit different.


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What's Next?: Unconventional Wisdom on the Future of the World Economy by David Hale, Lyric Hughes Hale

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affirmative action, Asian financial crisis, asset-backed security, bank run, banking crisis, Basel III, Berlin Wall, Black Swan, Bretton Woods, capital controls, Cass Sunstein, central bank independence, cognitive bias, collapse of Lehman Brothers, collateralized debt obligation, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, Daniel Kahneman / Amos Tversky, debt deflation, declining real wages, deindustrialization, diversification, energy security, Erik Brynjolfsson, Fall of the Berlin Wall, financial innovation, floating exchange rates, full employment, Gini coefficient, global reserve currency, global village, high net worth, Home mortgage interest deduction, housing crisis, index fund, inflation targeting, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Just-in-time delivery, Kenneth Rogoff, labour market flexibility, labour mobility, Long Term Capital Management, Mahatma Gandhi, Martin Wolf, Mexican peso crisis / tequila crisis, Mikhail Gorbachev, money market fund, money: store of value / unit of account / medium of exchange, mortgage tax deduction, Network effects, new economy, Nicholas Carr, oil shale / tar sands, oil shock, open economy, passive investing, payday loans, peak oil, Ponzi scheme, post-oil, price stability, private sector deleveraging, purchasing power parity, quantitative easing, race to the bottom, regulatory arbitrage, rent-seeking, reserve currency, Richard Thaler, risk/return, Robert Shiller, Robert Shiller, Ronald Reagan, sovereign wealth fund, special drawing rights, technology bubble, The Great Moderation, Thomas Kuhn: the structure of scientific revolutions, Tobin tax, too big to fail, total factor productivity, trade liberalization, Washington Consensus, Westphalian system, women in the workforce, yield curve

It may therefore be only a matter of time before some combination of greater debt and higher inflation precipitates a crash in the JGB and yen markets. 8 JAPAN: THE INTERREGNUM GOES ON Richard B. Katz No Political Stability without Economic Prosperity; No Prosperity without Structural Reform The long political interregnum that began in 1989—with the peak of the 1980s financial bubble and the fall of the Berlin Wall—seems destined to continue for at least several more years. In 2009, hopes were raised that the smashing victory of the Democratic Party of Japan (DPJ) in the Lower House elections would usher in at least a few years of political stability and some substantial progress on economic reform. Not only did the DPJ throw out the Liberal Democratic Party (LDP), which had ruled virtually uninterrupted for nearly six decades (making the 2009 election the first time voters had ever affected a change in government in postwar Japan), but it did so in an unprecedented landslide.

While there are some hereditary seats in the DPJ, the share is far smaller, particularly among those who were elected to the Diet for the first time as part of the DPJ rather than as defectors from the LDP or some other party. All of this begs the question, If one-party democracy is maladaptive for modern economies, how did the LDP and its precursor parties manage to rule in all but two of the sixty-five years following the end of World War II? The answer is that, for a long time, the LDP served Japan very well. For one thing, it kept Japan in the Western camp during the Cold War. Recall that until the fall of the Berlin Wall and the collapse of the Soviet Union, the primary opposition parties were the Socialists and Communists who, unlike the pro-Western Social Democrats of Western Europe, oriented toward Moscow, Beijing, and even Pyongyang. As long as the Socialists and Communists remained the voice of the opposition, the LDP was safe. Not until the LDP split in 1993, when a nonsocialist opposition emerged, was there a genuine alternative to LDP rule that was acceptable to the typical Japanese voter.


pages: 353 words: 98,267

The Price of Everything: And the Hidden Logic of Value by Eduardo Porter

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Alvin Roth, Asian financial crisis, Ayatollah Khomeini, banking crisis, barriers to entry, Berlin Wall, British Empire, capital controls, Carmen Reinhart, Cass Sunstein, clean water, Credit Default Swap, Deng Xiaoping, Edward Glaeser, European colonialism, Fall of the Berlin Wall, financial deregulation, Ford paid five dollars a day, full employment, George Akerlof, Gordon Gekko, guest worker program, happiness index / gross national happiness, housing crisis, illegal immigration, immigration reform, income inequality, income per capita, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Jean Tirole, John Maynard Keynes: technological unemployment, Joshua Gans and Andrew Leigh, Kenneth Rogoff, labor-force participation, laissez-faire capitalism, loss aversion, low skilled workers, Martin Wolf, means of production, Menlo Park, Mexican peso crisis / tequila crisis, new economy, New Urbanism, peer-to-peer, pension reform, Peter Singer: altruism, pets.com, placebo effect, price discrimination, price stability, rent-seeking, Richard Thaler, rising living standards, risk tolerance, Robert Shiller, Robert Shiller, Ronald Reagan, Silicon Valley, stem cell, Steve Jobs, Stewart Brand, superstar cities, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, trade route, transatlantic slave trade, transatlantic slave trade, ultimatum game, unpaid internship, urban planning, Veblen good, women in the workforce, World Values Survey, Yom Kippur War, young professional, zero-sum game

Apparently, it has to do with the left’s guilt. A study by psychologists at New York University found that the right-left happiness gap increases with deepening income inequality. This suggests people on the right are better at rationalizing inequality as a normal feature of life and feel less guilty about it. But improve people’s economic outlook and chances are you will make them happier. More than a decade after the fall of the Berlin Wall in November 1989, former East Germans remained unhappier than their fellow citizens from the western side. They would have been even less satisfied were it not for the income boost following unification. East Germans’ satisfaction with life rose about 20 percent between 1991 and 2001. Much of that jump was due to the freedoms gained with the demise of their police state. But a 60 percent increase in household income also played a part.

In the former Soviet satellites of Eastern Europe, four decades of government control over all production and distribution instilled a worldview that is quite different from opinions common in the West. East Germans are more likely to say that success is the product of external social circumstances, while West Germans attribute it to individual effort. In 1997, nearly a decade after the fall of the Berlin Wall, “Ossies” were much more likely than “Wessies” to say government should provide for people’s financial security. But views are changing along with economic realities. Researchers suggest that the differences in preferences between East and West are likely to disappear entirely within the next twenty years. WHO CAN AFFORD ANIMAL RIGHTS? We choose cultural traits we can afford. Large families are the so-called cultural norm in countries where many kids die before the age of five and those who survive are needed for their labor.


pages: 361 words: 81,068

The Internet Is Not the Answer by Andrew Keen

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3D printing, A Declaration of the Independence of Cyberspace, Airbnb, AltaVista, Andrew Keen, augmented reality, Bay Area Rapid Transit, Berlin Wall, bitcoin, Black Swan, Bob Geldof, Burning Man, Cass Sunstein, citizen journalism, Clayton Christensen, clean water, cloud computing, collective bargaining, Colonization of Mars, computer age, connected car, creative destruction, cuban missile crisis, David Brooks, disintermediation, Donald Davies, Downton Abbey, Edward Snowden, Elon Musk, Erik Brynjolfsson, Fall of the Berlin Wall, Filter Bubble, Francis Fukuyama: the end of history, Frank Gehry, Frederick Winslow Taylor, frictionless, full employment, future of work, gig economy, global village, Google bus, Google Glasses, Hacker Ethic, happiness index / gross national happiness, income inequality, index card, informal economy, information trail, Innovator's Dilemma, Internet of things, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, Kodak vs Instagram, Lean Startup, libertarian paternalism, lifelogging, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Metcalfe’s law, move fast and break things, move fast and break things, Nate Silver, Network effects, new economy, Nicholas Carr, nonsequential writing, Norbert Wiener, Norman Mailer, Occupy movement, packet switching, PageRank, Paul Graham, peer-to-peer, peer-to-peer rental, Peter Thiel, Plutocrats, plutocrats, Potemkin village, precariat, pre–internet, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Robert Metcalfe, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, smart cities, Snapchat, social web, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, TaskRabbit, Ted Nelson, telemarketer, The Future of Employment, the medium is the message, the new new thing, Thomas L Friedman, Tyler Cowen: Great Stagnation, Uber for X, urban planning, Vannevar Bush, Whole Earth Catalog, WikiLeaks, winner-take-all economy, working poor, Y Combinator

These were the same mills that produced the cloth that my great-grandfather sold in Berwick Street market in the early twentieth century. And they are the same kind of mills that will be radically “disintermediated” in the makers’ 3.0 economy. Victor Falber had a nephew named Reuben Falber. I always knew him as Uncle Reuben, but the world remembers him quite differently. Reuben Falber was the longtime assistant secretary of the Communist Party of Great Britain, who was exposed after the fall of the Berlin Wall and the collapse of the Soviet Union as the official responsible for laundering large amounts of Soviet cash into Britain to finance the communist revolution.70 But my own memories of Reuben Falber were of a scholarly man who would use quotes from Marx to explain to me why the collapse of capitalism was inevitable. One of his favorite quotes was from Marx’s 18th Brumaire of Louis Bonaparte.

The Internet has, indeed, become a crystal republic for crystal man. We shape our architecture; and thereafter it shapes us. CHAPTER EIGHT EPIC FAIL FailCon Big Brother might be dead, but one department of the old totalitarian state remains in robust health. Orwell’s Ministry of Truth—in fact, of course, the Ministry of Propaganda—was supposed to have gone out of business in 1989 with the fall of the Berlin Wall. But, like other failed twentieth-century institutions, the ministry has relocated its operations to the west coast of America. It has moved to the epicenter of twenty-first-century innovation—to Silicon Valley, a place so radically disruptive that it is even reinventing failure as the new model of success. On the list of all-time greatest lies, the idea that FAILURE IS SUCCESS doesn’t quite match the Orwellian trinity of WAR IS PEACE, FREEDOM IS SLAVERY, or IGNORANCE IS STRENGTH, but it’s still an astonishing perfidy, worthy of the best Ministry of Truth propagandist.


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Capitalism: Money, Morals and Markets by John Plender

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activist fund / activist shareholder / activist investor, Andrei Shleifer, asset-backed security, bank run, Berlin Wall, Big bang: deregulation of the City of London, Black Swan, bonus culture, Bretton Woods, business climate, Capital in the Twenty-First Century by Thomas Piketty, central bank independence, collapse of Lehman Brothers, collective bargaining, computer age, Corn Laws, corporate governance, creative destruction, credit crunch, Credit Default Swap, David Ricardo: comparative advantage, deindustrialization, Deng Xiaoping, discovery of the americas, diversification, Eugene Fama: efficient market hypothesis, eurozone crisis, failed state, Fall of the Berlin Wall, fiat currency, financial innovation, financial intermediation, Fractional reserve banking, full employment, God and Mammon, Gordon Gekko, greed is good, Hyman Minsky, income inequality, inflation targeting, information asymmetry, invention of the wheel, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Meriwether, joint-stock company, Joseph Schumpeter, labour market flexibility, liberal capitalism, light touch regulation, London Interbank Offered Rate, London Whale, Long Term Capital Management, manufacturing employment, Mark Zuckerberg, market bubble, market fundamentalism, mass immigration, means of production, Menlo Park, money market fund, moral hazard, moveable type in China, Myron Scholes, Nick Leeson, Northern Rock, Occupy movement, offshore financial centre, paradox of thrift, Paul Samuelson, Plutocrats, plutocrats, price stability, principal–agent problem, profit motive, quantitative easing, railway mania, regulatory arbitrage, Richard Thaler, rising living standards, risk-adjusted returns, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, shareholder value, short selling, Silicon Valley, South Sea Bubble, spice trade, Steve Jobs, technology bubble, The Chicago School, The Great Moderation, the map is not the territory, The Wealth of Nations by Adam Smith, Thorstein Veblen, time value of money, too big to fail, tulip mania, Upton Sinclair, Veblen good, We are the 99%, Wolfgang Streeck, zero-sum game

INTRODUCTION The great financial crisis that began in 2008 with the collapse of Lehman Brothers, the US investment bank, has been the worst since the Wall Street Crash of 1929. Unlike that earlier crisis, it has not put the survival of the capitalist system in doubt. Indeed, the Great Recession that began shortly before the Lehman debacle was the first modern crisis in which no systemic alternative to capitalism was on offer. No one, after all, is looking to North Korea for an alternative vision of the future. Since the fall of the Berlin Wall, the only question has been about the extent of the market orientation of capitalism. What the crisis did do was provoke intense soul searching about the merits and defects of an entrenched capitalist system. The merits are clear enough. Capitalism, by which I mean a market-based system where private ownership of industry and commerce is supported by property rights, has lifted millions out of poverty.

The Austrian-born economist worried that capitalism’s tendency to monopolistic gigantism, inequality and the encouragement of envy would, with the connivance of an anti-capitalist intellectual elite, drive the world to state socialism. What has changed since Schumpeter’s time is that while those tendencies still exist, there is no longer any systemic alternative to capitalism. Since the fall of the Berlin Wall, comprehensive public ownership of the means of production is discredited. To the extent that systemic choices are available, they lie on a spectrum that runs from the market-driven model of capitalism in the US, via the social democratic models of Europe, to the heavily statist, authoritarian form of capitalism that prevails in China and much of the rest of the developing world – a model nonetheless characterised by extensive exposure to the global trading system.


pages: 335 words: 104,850

Conscious Capitalism, With a New Preface by the Authors: Liberating the Heroic Spirit of Business by John Mackey, Rajendra Sisodia, Bill George

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Berlin Wall, Buckminster Fuller, business process, carbon footprint, collective bargaining, corporate governance, corporate social responsibility, creative destruction, crony capitalism, cross-subsidies, en.wikipedia.org, Everything should be made as simple as possible, Fall of the Berlin Wall, fear of failure, Flynn Effect, income per capita, invisible hand, Jeff Bezos, job satisfaction, lone genius, Mahatma Gandhi, microcredit, Occupy movement, profit maximization, Ralph Waldo Emerson, shareholder value, six sigma, Steve Jobs, Steven Pinker, The Fortune at the Bottom of the Pyramid, The Wealth of Nations by Adam Smith, too big to fail, union organizing, wealth creators, women in the workforce, zero-sum game

Much of the twentieth century can be seen as an extended intellectual war between two diametrically opposed social and economic philosophies—free-enterprise capitalism (free markets and free people) and communism (dictatorship and governmental economic control). By every objective measure, free-enterprise capitalism has won this battle. The United States was far more economically dynamic and socially evolved than the Soviet Union, its chief communist rival. The same held true for West Germany versus East Germany; South Korea versus North Korea; and Taiwan, Hong Kong, and Singapore versus China. With the fall of the Berlin Wall in 1989, country after country began to turn toward greater political and economic freedom in the 1990s and 2000s, as the dismal economic and societal results of the various socialistic experiments conducted in the twentieth century became better known. As this transition to greater freedom took root, many countries experienced rapid economic growth, and hundreds of millions of poor people were able to escape grinding poverty.

This was unprecedented in human history; for the first time, ordinary people were masters of their own destiny as a matter of law, and could through diligence and enterprise rise from nothing to great heights of material prosperity and social esteem. Another almost equally historic year occurred more recently in 1989, which marked several epochal changes in society and technology. Consider three momentous events that took place that year. The Fall of the Wall Preceded by the dramatic but failed Chinese uprising in Tiananmen Square in June, the fall of the Berlin Wall on November 9, 1989, triggered the collapse of communist regimes all over Europe, something that was unthinkable just a few years before. Without a shot being fired, the defining ideological debate of the twentieth century between competing systems for organizing human society was suddenly over. Capitalism and democracy decidedly won that epic battle, and the debates that remained were about the types of democracy and the degree of economic freedom that worked best.


pages: 250 words: 87,722

Flash Boys: A Wall Street Revolt by Michael Lewis

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automated trading system, bash_history, Berlin Wall, Bernie Madoff, collateralized debt obligation, computerized markets, drone strike, Fall of the Berlin Wall, financial intermediation, Flash crash, High speed trading, latency arbitrage, pattern recognition, risk tolerance, Rubik’s Cube, Sergey Aleynikov, Small Order Execution System, Spread Networks laid a new fibre optics cable between New York and Chicago, the new new thing, too big to fail, trade route, transaction costs, Vanguard fund

.” ** Those nine banks, in order of their (fairly evenly distributed) 2011 market share, from highest to lowest: Credit Suisse, Morgan Stanley, Bank of America, Merrill Lynch, Goldman Sachs, J.P. Morgan, Barclays, UBS, Citi, Deutsche Bank. †† Stampfli has not been charged with any wrongdoing. CHAPTER FIVE PUTTING A FACE ON HFT Sergey Aleynikov wasn’t the world’s most eager immigrant to America, or, for that matter, to Wall Street. He’d left Russia in 1990, the year after the fall of the Berlin Wall, but more in sadness than in hope. “When I was nineteen I haven’t imagined leaving it,” he says. “I was very patriotic about Russia. I cried when Brezhnev died. And I always hated English. I thought I was completely incapable of learning languages.” His problem with Russia was that its government wouldn’t allow him to study what he wanted to study. He wasn’t religious in any conventional sense, but he’d been born a Jew, which had been noted on his Russian passport to remind everyone of the fact.

“People learn to work around the system. The more you cultivate a class of people who know how to work around the system, the more people you will have who know how to do it well. All of the Soviet Union for seventy years were people who are skilled at working around the system.” The population was thus well suited to exploit megatrends in both computers and the United States financial markets. After the fall of the Berlin Wall, a lot of Russians fled to the United States without a lot of English; one way to make a living without having to converse with the locals was to program their computers. “I know people who never programmed computers but when they get here they say they are computer programmers,” said Constantine. A Russian also tended to be quicker than most to see holes built into the U.S. stock exchanges, even if those holes were unintentional, because he had been raised by parents, in turn raised by their own parents, to game a flawed system.

When the Money Runs Out: The End of Western Affluence by Stephen D. King

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Albert Einstein, Asian financial crisis, asset-backed security, banking crisis, Basel III, Berlin Wall, Bernie Madoff, British Empire, capital controls, central bank independence, collapse of Lehman Brothers, collateralized debt obligation, congestion charging, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, crony capitalism, cross-subsidies, debt deflation, Deng Xiaoping, Diane Coyle, endowment effect, eurozone crisis, Fall of the Berlin Wall, financial innovation, financial repression, fixed income, floating exchange rates, full employment, George Akerlof, German hyperinflation, Hyman Minsky, income inequality, income per capita, inflation targeting, invisible hand, John Maynard Keynes: Economic Possibilities for our Grandchildren, joint-stock company, liquidationism / Banker’s doctrine / the Treasury view, liquidity trap, London Interbank Offered Rate, loss aversion, market clearing, mass immigration, moral hazard, mortgage debt, new economy, New Urbanism, Nick Leeson, Northern Rock, Occupy movement, oil shale / tar sands, oil shock, old age dependency ratio, price mechanism, price stability, quantitative easing, railway mania, rent-seeking, reserve currency, rising living standards, South Sea Bubble, sovereign wealth fund, technology bubble, The Market for Lemons, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Tobin tax, too big to fail, trade route, trickle-down economics, Washington Consensus, women in the workforce, working-age population

The resulting increase in consumer demand encouraged industry to deliver substantial economies of scale, with mass production becoming ever more commonplace. Social security systems designed to prevent a repeat of the terrible impoverishment of the 1930s became increasingly widespread, reducing the need for households to stuff cash under the mattress for unforeseen emergencies: they could thus spend more freely. With the reforms initiated by Deng Xiaoping at the end of the 1970s and the fall of the Berlin Wall in 1989, countries that had been trapped in the economic equivalent of a deep-­freeze were able to come in from the cold, creating new opportunities for trade and investment: trade between China and the US, for example, expanded massively. Women, sorely underrepresented in the workforce through lack of opportunity and lack of pay, suddenly found themselves in gainful employment thanks to sex discrimination legislation.

In the event of subsequent setback, the ancien régime gets the blame. De Tocqueville’s view thus allows for the role of expectations and the impact on the political system if those expectations are not met. De Tocqueville’s view of expectations and their impact on political stability captures many of the upheavals seen in the non-­democratic world since the end of the 1980s, including the fall of the Berlin Wall, the subsequent collapse of the Soviet empire and the Arab Spring. But de Tocqueville also has something useful to say about the problems now facing Western economies. Economic stagnation need not make anyone worse off but it certainly has left expectations unmet. Reductions in public spending plans, rises in education costs, increased retirement age, bigger pension contributions and lower stock-­market returns are all part of the same story: stagnation 152 4099.indd 152 29/03/13 2:23 PM Three Schisms prevents us from delivering on the promises we have made to ourselves.

Who Rules the World? by Noam Chomsky

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Albert Einstein, anti-communist, Ayatollah Khomeini, Berlin Wall, Bretton Woods, British Empire, capital controls, corporate governance, corporate personhood, cuban missile crisis, deindustrialization, Donald Trump, Doomsday Clock, Edward Snowden, en.wikipedia.org, facts on the ground, failed state, Fall of the Berlin Wall, Howard Zinn, illegal immigration, Intergovernmental Panel on Climate Change (IPCC), invisible hand, liberation theology, Malacca Straits, Martin Wolf, Mikhail Gorbachev, Monroe Doctrine, nuclear winter, Occupy movement, oil shale / tar sands, one-state solution, Plutonomy: Buying Luxury, Explaining Global Imbalances, precariat, Ralph Waldo Emerson, Ronald Reagan, South China Sea, Stanislav Petrov, structural adjustment programs, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, trade route, union organizing, uranium enrichment, wage slave, WikiLeaks, working-age population

Twenty years earlier, he was the criminal leader of one of the world’s “more notorious terrorist groups,” according to a Pentagon report.12 That is why President Reagan had to support the apartheid regime, increasing trade with South Africa in violation of congressional sanctions and supporting South Africa’s depredations in neighboring countries, which led, according to a UN study, to 1.5 million deaths.13 That was only one episode in the war on terrorism that Reagan declared to combat “the plague of the modern age,” or, as Secretary of State George Shultz had it, “a return to barbarism in the modern age.”14 We may add hundreds of thousands of corpses in Central America and tens of thousands more in the Middle East, among other achievements. Small wonder that the Great Communicator is worshipped by Hoover Institution scholars as a colossus whose “spirit seems to stride the country, watching us like a warm and friendly ghost.”15 The Latin American case is revealing. Those who called for freedom and justice in Latin America are not admitted to the pantheon of honored dissidents. For example, a week after the fall of the Berlin Wall, six leading Latin American intellectuals, all Jesuit priests, had their heads blown off on the direct orders of the Salvadoran high command. The perpetrators were from an elite battalion armed and trained by Washington that had already left a gruesome trail of blood and terror. The murdered priests are not commemorated as honored dissidents, nor are others like them throughout the hemisphere.

Contrary to fifty years of deceit, it was quietly conceded that the main concern in this region was not the Russians, but rather what is called “radical nationalism,” meaning independent nationalism not under U.S. control.3 All of this has evident bearing on the received standard version, but it passed unnoticed—or, perhaps, therefore it passed unnoticed. Other important events took place immediately after the fall of the Berlin Wall, ending the Cold War. One was in El Salvador, the leading recipient of U.S. military aid—apart from Israel and Egypt, a separate category—and with one of the worst human rights records anywhere. That is a familiar and very close correlation. The Salvadoran high command ordered the Atlacatl Battalion to invade the Jesuit university and murder six leading Latin American intellectuals, all Jesuit priests, including the rector, Fr.

Rogue State: A Guide to the World's Only Superpower by William Blum

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anti-communist, Ayatollah Khomeini, Berlin Wall, British Empire, collective bargaining, Columbine, experimental subject, Fall of the Berlin Wall, Johann Wolfgang von Goethe, Joseph Schumpeter, land reform, Monroe Doctrine, profit motive, Ronald Reagan, union organizing

It was the cleverest protection racket since men convinced women that they needed men to protect them—if all the men vanished overnight, how many women would be afraid to walk the streets? And if the people of any foreign land were benighted enough to not realize that they needed to be saved, if they failed to appreciate the underlying nobility of American motives, they were warned that they would burn in Communist Hell. Or a CIA facsimile thereof. And they would be saved nonetheless. A decade after the fall of the Berlin Wall, America is still saving countries and peoples from one danger or another. The scorecard reads as follows: From 1945 to the end of the century, the United States attempted to overthrow more than 40 foreign governments, and to crush more than 30 populist-nationalist movements struggling against intolerable regimes. In the process, the US caused the end of life for several million people, and condemned many millions more to a life of agony and despair.

When the Fiji coup took place, Rabuka and his supporters pointed to the Libyan "threat" as justifying the coup.51 There are more of such "coincidences" in this drama, including appearances in Fiji before the coup of the National Endowment for Democracy (q.v.) and its funding, some of the CIAs labor mafia, and units of the US military in the Pacific.52 The day after the coup, a Pentagon source, while denying US involvement, declared: "We're kinda delighted.. .All of a sudden our ships couldn't go to Fiji, and now all of a sudden they can."53 Panama, 1989 Less than two weeks after the fall of the Berlin Wall, the United States showed its joy that a new era of world peace was now possible by invading Panama, as Washington's mad bombers struck again. On December 20, 1989, a large tenement barrio in Panama City was wiped out; 15,000 people were left homeless. Counting several days of ground fighting between US and Panamanian forces, 500-something natives dead was the official body count—i.e., what the United States and the new US-installed Panamanian government admitted to.


pages: 102 words: 33,345

24/7: Late Capitalism and the Ends of Sleep by Jonathan Crary

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augmented reality, Berlin Wall, dematerialisation, Dissolution of the Soviet Union, Fall of the Berlin Wall, invention of movable type, Kevin Kelly, late capitalism, mass incarceration, megacity, planetary scale, Ponzi scheme, V2 rocket

“Beyond a legacy of old books and old buildings . . . there remains nothing, in culture or in nature, which has not been transformed and polluted, according to the means and interests of modern industry.”8 At the time, Debord and Deleuze were writing against the grain. The “short twentieth century” was coming to an abrupt end, between 1989 and 1991, with what to many seemed like hopeful developments, including the fall of the Berlin Wall and the dissolution of a bipolar, Cold War world. Along with the triumphalist narratives of globalization and the facile declarations of the historical end of competing world-systems were the widely promoted “paradigms” for a post-political and post-ideological era. Twenty years later, it is difficult to recall the seriousness with which these fatuous claims were made on behalf of a West that seemed poised to effortlessly occupy and refashion the entire planet.

Social Capital and Civil Society by Francis Fukuyama

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Berlin Wall, blue-collar work, Fall of the Berlin Wall, feminist movement, Francis Fukuyama: the end of history, George Akerlof, German hyperinflation, Jane Jacobs, Joseph Schumpeter, Kevin Kelly, labor-force participation, low skilled workers, p-value, Pareto efficiency, postindustrial economy, principal–agent problem, RAND corporation, Silicon Valley, The Death and Life of Great American Cities, transaction costs, World Values Survey

He is a member of the American Association for the Advancement of Slavic Studies and the Council on Foreign Relations; the editor, with Andrez Korbonski, of T h e Soviet Union and the Third W o r l d : T h e Last Three Decades (1987) ; and book review editor at Foreign A f a i r s . His publications include T h e End of History and the Last M a n ( 1 9 9 2 ), which received the Premio Capri and the Book Critics Award (from the Los Angeles T i m e s ) , and Trust : T h e Social Virtues and the Creation of Prosperity (1995), which was named “business book of the year” by European. LECTURE I. THE GREAT DISRUPTION Since the fall of the Berlin Wall, there has been an extraordinary amount of attention paid to the interrelated issues of social capital, civil society, trust, and social norms as central issues for contemporary democracies. The propensity for civil society was said to be an essential condition for the transition to stable democracy in Eastern Europe, and the decline in social capital in the United States is said to be a major problem for American democracy today.


pages: 113 words: 36,785

Home Game: An Accidental Guide to Fatherhood by Michael Lewis

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airport security, Berlin Wall, Fall of the Berlin Wall, psychological pricing, the new new thing

Not the special love from his child, who, no matter how many times he fed and changed and wiped and walked her, would always prefer her mother in a pinch. Not even the admiration of the body politic, who pushed him into signing the deal. Women may smile at a man pushing a baby stroller, but it is with the gentle condescension of a high officer of an army toward a village that surrendered without a fight. Men just look away in shame. And so the American father now finds himself in roughly the same position as Gorbachev after the fall of the Berlin Wall. Having shocked the world by doing the decent thing and ceding power without bloodshed for the sake of principle, he is viewed mainly with disdain. The world looks at him schlepping and fetching and sagging and moaning beneath his new burdens and thinks: OH…YOU…POOR…BASTARD. But I digress. I came home one night, relieved the babysitter, and found that Quinn had three bright red spots on her forehead and, for the first time in her life, a fever.


pages: 935 words: 267,358

Capital in the Twenty-First Century by Thomas Piketty

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accounting loophole / creative accounting, Asian financial crisis, banking crisis, banks create money, Berlin Wall, Branko Milanovic, British Empire, capital controls, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, central bank independence, centre right, circulation of elites, collapse of Lehman Brothers, conceptual framework, corporate governance, correlation coefficient, David Ricardo: comparative advantage, demographic transition, distributed generation, diversification, diversified portfolio, European colonialism, eurozone crisis, Fall of the Berlin Wall, financial intermediation, full employment, German hyperinflation, Gini coefficient, high net worth, Honoré de Balzac, immigration reform, income inequality, income per capita, index card, inflation targeting, informal economy, invention of the steam engine, invisible hand, joint-stock company, Joseph Schumpeter, Kenneth Arrow, market bubble, means of production, mortgage debt, mortgage tax deduction, new economy, New Urbanism, offshore financial centre, open economy, Paul Samuelson, pension reform, purchasing power parity, race to the bottom, randomized controlled trial, refrigerator car, regulatory arbitrage, rent control, rent-seeking, Robert Gordon, Ronald Reagan, Simon Kuznets, sovereign wealth fund, Steve Jobs, The Nature of the Firm, the payments system, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, trade liberalization, very high income, Vilfredo Pareto, We are the 99%, zero-sum game

At the global level, the most extensive privatization in recent decades, and indeed in the entire history of capital, obviously took place in the countries of the former Soviet bloc. The highly imperfect estimates available to us indicate that private wealth in Russia and the former Eastern bloc countries stood at about four years of national income in the late 2000s and early 2010s, and net public wealth was extremely low, just as in the rich countries. Available estimates for the 1970s and 1980s, prior to the fall of the Berlin Wall and the collapse of the Communist regimes, are even more imperfect, but all signs are that the distribution was strictly the opposite: private wealth was insignificant (limited to individual plots of land and perhaps some housing in the Communist countries least averse to private property but in all cases less than a year’s national income), and public capital represented the totality of industrial capital and the lion’s share of national capital, amounting, as a first approximation, to between three and four years of national income.

How did Europe come to create—for the first time in human history on such a vast scale—a currency without a state? Since Europe’s GDP accounted for nearly one-quarter of global GDP in 2013, the question is of interest not just to inhabitants of the Eurozone but to the entire world. The usual answer to this question is that the creation of the euro—agreed on in the 1992 Maastricht Treaty in the wake of the fall of the Berlin Wall and the reunification of Germany and made a reality on January 1, 2002, when automatic teller machines across the Eurozone first began to dispense euro notes—is but one step in a lengthy process. Monetary union is supposed to lead naturally to political, fiscal, and budgetary union, to ever closer cooperation among the member states. Patience is essential, and union must proceed step by step.

But the fact remains that no one knows for now how these challenges will be met or what role governments will play in preventing the degradation of our natural capital in the years ahead. Economic Transparency and Democratic Control of Capital More generally, it is important, I think, to insist that one of the most important issues in coming years will be the development of new forms of property and democratic control of capital. The dividing line between public capital and private capital is by no means as clear as some have believed since the fall of the Berlin Wall. As noted, there are already many areas, such as education, health, culture, and the media, in which the dominant forms of organization and ownership have little to do with the polar paradigms of purely private capital (modeled on the joint-stock company entirely owned by its shareholders) and purely public capital (based on a similar top-down logic in which the sovereign government decides on all investments).


pages: 489 words: 111,305

How the World Works by Noam Chomsky, Arthur Naiman, David Barsamian

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affirmative action, anti-communist, Ayatollah Khomeini, Berlin Wall, Bernie Sanders, Bretton Woods, British Empire, business climate, capital controls, clean water, corporate governance, deindustrialization, Fall of the Berlin Wall, feminist movement, glass ceiling, Howard Zinn, income inequality, interchangeable parts, Isaac Newton, joint-stock company, labour market flexibility, land reform, liberation theology, Monroe Doctrine, offshore financial centre, Plutocrats, plutocrats, race to the bottom, Ralph Nader, Ronald Reagan, Rosa Parks, single-payer health, strikebreaker, Telecommunications Act of 1996, transfer pricing, union organizing, War on Poverty, working poor

Washington imposed economic sanctions that virtually destroyed the economy, the main burden falling on the poor nonwhite majority. They too came to hate Noriega, not least because he was responsible for the economic warfare (which was illegal, if anyone cares) that was causing their children to starve. Next, a military coup was tried, but failed. Then, in December 1989, the US celebrated the fall of the Berlin wall and the end of the Cold War by invading Panama outright, killing hundreds or perhaps thousands of civilians (no one knows, and few north of the Rio Grande care enough to inquire). This restored power to the rich white elite that had been displaced by the Torrijos coup—just in time to ensure a compliant government for the administrative changeover of the Canal on January 1, 1990 (as noted by the right-wing European press).

With the collapse of Soviet tyranny, much of the region can be expected to return to its traditional status, with the former higher echelons of the bureaucracy playing the role of the Third World elites that enrich themselves while serving the interests of foreign investors. But while this particular phase has ended, North-South conflicts continue. One side may have called off the game, but the US is proceeding as before—more freely, in fact, with Soviet deterrence a thing of the past. It should have surprised no one that [the first] President Bush celebrated the symbolic end of the Cold War, the fall of the Berlin Wall, by immediately invading Panama and announcing loud and clear that the US would subvert Nicaragua’s election by maintaining its economic stranglehold and military attack unless “our side” won. Nor did it take great insight for Elliott Abrams to observe that the US invasion of Panama was unusual because it could be conducted without fear of a Soviet reaction anywhere, or for numerous commentators during the Gulf crisis to add that the US and Britain were now free to use unlimited force against its Third World enemy, since they were no longer inhibited by the Soviet deterrent.


pages: 428 words: 117,419

Cyclopedia by William Fotheringham

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Berlin Wall, British Empire, carbon footprint, Fall of the Berlin Wall, intermodal, Northern Rock, éminence grise

If, after reading it, you want to try something new, go to a race, or buy a book or DVD that you might not have known about, it will have served its purpose. Enjoy the ride. William Fotheringham, July 2010 A ABDUZHAPAROV, Djamolidin (b. Uzbekistan, 1964) Squat, tree-trunk thighed sprinter from Uzbekistan who was one of the biggest stars to emerge from the Eastern bloc after the fall of the Berlin Wall. Abdu’ first came to prominence in the British MILK RACE, winning three stages in 1986, but it was in the 1991 TOUR DE FRANCE where his unique style grabbed world headlines: he put his head down low over the front wheel—a style later adopted to great effect by MARK CAVENDISH—and zigzagged up the finish straight, terrifying opponents and onlookers. He took two stages in the 1991 Tour but came to grief in dramatic style as a third win beckoned on the Champs-Elysées: after colliding with an oversized cardboard Coke can standing against the barriers he somersaulted over the bars and rolled down the road.

The next 30 years were stable, almost backward: professional road racing was largely dominated by riders from the European heartland, sponsors were mainly interested in their own domestic markets, the calendar changed little, and a small number of major stars raced most of the big events taking their teams with them. That all began to change in the 1980s, as first the English-speaking nations arrived led by the FOREIGN LEGION, followed after the fall of the Berlin Wall by waves of former “amateurs” from EASTERN EUROPE. At the same time, the Tour de France began to dominate the calendar thanks to a massive expansion in television rights and coverage. Sponsors with world interests such as T-Mobile and Panasonic appeared, and the last constructors’ teams, RALEIGH and PEUGEOT, went under. Prize money and salaries mushroomed: in 1983 LAURENT FIGNON received £20,000 from his first Tour win, while 16 years later LANCE ARMSTRONG made over $7 million from his first Tour win.1 The sport remains in a state of flux.


pages: 460 words: 122,556

The End of Wall Street by Roger Lowenstein

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Asian financial crisis, asset-backed security, bank run, banking crisis, Berlin Wall, Bernie Madoff, Black Swan, break the buck, Brownian motion, Carmen Reinhart, collateralized debt obligation, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, diversified portfolio, eurozone crisis, Fall of the Berlin Wall, fear of failure, financial deregulation, fixed income, high net worth, Hyman Minsky, interest rate derivative, invisible hand, Kenneth Rogoff, London Interbank Offered Rate, Long Term Capital Management, margin call, market bubble, Martin Wolf, money market fund, moral hazard, mortgage debt, negative equity, Northern Rock, Ponzi scheme, profit motive, race to the bottom, risk tolerance, Ronald Reagan, Rubik’s Cube, savings glut, short selling, sovereign wealth fund, statistical model, the payments system, too big to fail, tulip mania, Y2K

Home foreclosures broke every record; two of America’s three automobile manufacturers filed for bankruptcy, and banks themselves failed by the score. Confidence in America’s market system, thought to have attained the pinnacle of laissez-faire perfection, was shattered. The crisis prompted government interventions that only recently would have been considered unthinkable. Less than a generation after the fall of the Berlin Wall, when prevailing orthodoxy held that the free market could govern itself, and when financial regulation seemed destined for near irrelevancy, the United States was compelled to socialize lending and mortgage risk, and even the ownership of banks, on a scale that would have made Lenin smile. The massive fiscal remedies evidenced both the failure of an ideology and the eclipse of Wall Street’s golden age.

Chávez, a socialist hostile to free-market institutions, had been exploiting America’s crisis to score propaganda points on the spiritual poverty of Yanqui capitalism. Such critiques now touched a sensitive nerve. America’s market system had failed. Its banks had failed. Its investors had failed abysmally. Also, the model of international markets—the idea that investors would regulate world economies, appropriately apportioning capital and limiting risk—had failed. The United States had been lustily pushing this model on the world since the fall of the Berlin Wall. It had been deregulating at home since the 1980s. The disaster raised an unavoidable question: If America had taken a wrong turn, how far back should the clock be set? International opinion was already shifting, sharply, toward the view that free markets had been too free. Angela Merkel, the German chancellor, a onetime advocate of American-style capitalism, was espousing government protection of essential industry.


pages: 621 words: 157,263

How to Change the World: Reflections on Marx and Marxism by Eric Hobsbawm

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anti-communist, banking crisis, battle of ideas, Berlin Wall, British Empire, continuation of politics by other means, creative destruction, currency manipulation / currency intervention, deindustrialization, discovery of the americas, experimental subject, Fall of the Berlin Wall, full employment, Gunnar Myrdal, labour market flexibility, liberal capitalism, market fundamentalism, mass immigration, means of production, new economy, Simon Kuznets, Thorstein Veblen, Upton Sinclair, upwardly mobile, Vilfredo Pareto, zero-sum game

At the same time there was, as we have seen, a steep decline in Marxism and the social-democratic left and a general depoliticisation both of workers and of students. The Russian Revolution had given reformism a second foundation: fear of communism and the USSR. The advance of both during and after the Second World War seemed, at least in Europe, to require from governments and employers alike a counter-policy of full employment and systematic social security. 412 Marx and Labour: the Long Century But the USSR no longer exists, and with the fall of the Berlin Wall capitalism could forget how to be frightened, and therefore lost interest in people unlikely to own shares. In any case, even the spells of mass unemployment in the 1980s and 1990s seemed to have lost the old power of radicalising their victims. However, it was not only politics but also the economy that proved to require reformism and especially full employment after 1945 – as both Keynes and the Swedish economists of Scandinavian social democracy had predicted.

The state and other public authorities remain the only institutions capable of distributing the social product among its people, in human terms, and to meet human needs that cannot be satisfied by the market. Politics therefore has remained and remains a necessary dimension of the struggle for social improvement. Indeed, the great economic crisis that began in 2008 as a sort of right-wing equivalent to the fall of the Berlin Wall brought an immediate realisation that the state was essential to an economy in trouble, as it had been essential to the triumph of neo-liberalism when governments had laid its foundations by systematic privatisation and deregulation. However, the effect of the period 1973–2008 on social democracy was that it abandoned Bernstein. In Britain its leaders felt 414 Marx and Labour: the Long Century they had no option but to rely on such benefits as the economic growth of the global free market generated automatically, plus a social safety net provided from above.


pages: 934 words: 135,736

The Divided Nation: A History of Germany, 1918-1990 by Mary Fulbrook

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Albert Einstein, banking crisis, Berlin Wall, centre right, collective bargaining, deindustrialization, Fall of the Berlin Wall, feminist movement, first-past-the-post, fixed income, full employment, joint-stock company, land reform, means of production, Mikhail Gorbachev, open borders, Peace of Westphalia, Sinatra Doctrine, union organizing, unorthodox policies

Finally, I would like to thank my husband and three children for suffering and sustaining the research for and writing of this book. Without my husband's unfailing support, and more than equal partnership in parenting, the book could not have been written. Without my children, recounting the fates of those who were born into less fortunate historical circumstances might have been much less meaningful. Page 1 One The Course of German History In those extraordinary months after the fall of the Berlin Wall in November 1989, when discussion of the unification of the two Germanies was for the first time in forty years back on the serious political agenda, many voices were raised giving views on 'the German question'. From a variety of quarters, prejudices were aired which had lain dormant along with the memories, gas masks and other relics of the Second World War over the years when the Cold War and the balance of terror had seemed to ensure a fragile peace in a divided Europe.

While the official ceremonies took place in the centre of Berlin, at the Brandenburg Gate and Page 344 the Reichstag, demonstrations elsewhere were firmly dealt with by armed police. Less than a year after the fortieth anniversary celebrations of the GDR, the GDR was no more; but the formal unification of the two Germanies was effected in distinctly less euphoric mood than that accompanying the fall of the Berlin Wall only eleven months earlier. Distinctions between 'Wessis' (westerners) and 'Ossis' (from the former GDR) became more vitriolic, as the latter felt they had been downgraded to second-class citizens. Social tensions contributed to a rise in racial tensions. Many Germans felt distinctly uneasy about the new nationalism, the rise in xenophobia and anti-'foreigner' sentiments (thus designated, even when the victims of racial hostility were German citizens).


pages: 524 words: 143,993

The Shifts and the Shocks: What We've Learned--And Have Still to Learn--From the Financial Crisis by Martin Wolf

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air freight, anti-communist, Asian financial crisis, asset allocation, asset-backed security, balance sheet recession, bank run, banking crisis, banks create money, Basel III, Ben Bernanke: helicopter money, Berlin Wall, Black Swan, bonus culture, break the buck, Bretton Woods, call centre, capital asset pricing model, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, central bank independence, collateralized debt obligation, corporate governance, creative destruction, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, debt deflation, deglobalization, Deng Xiaoping, diversification, double entry bookkeeping, en.wikipedia.org, Erik Brynjolfsson, Eugene Fama: efficient market hypothesis, eurozone crisis, Fall of the Berlin Wall, fiat currency, financial deregulation, financial innovation, financial repression, floating exchange rates, forward guidance, Fractional reserve banking, full employment, global rebalancing, global reserve currency, Growth in a Time of Debt, Hyman Minsky, income inequality, inflation targeting, information asymmetry, invisible hand, Joseph Schumpeter, Kenneth Rogoff, labour market flexibility, labour mobility, light touch regulation, liquidationism / Banker’s doctrine / the Treasury view, liquidity trap, Long Term Capital Management, mandatory minimum, margin call, market bubble, market clearing, market fragmentation, Martin Wolf, Mexican peso crisis / tequila crisis, money market fund, moral hazard, mortgage debt, negative equity, new economy, North Sea oil, Northern Rock, open economy, paradox of thrift, Paul Samuelson, price stability, private sector deleveraging, purchasing power parity, pushing on a string, quantitative easing, Real Time Gross Settlement, regulatory arbitrage, reserve currency, Richard Feynman, Richard Feynman, risk-adjusted returns, risk/return, road to serfdom, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, Second Machine Age, secular stagnation, shareholder value, short selling, sovereign wealth fund, special drawing rights, The Chicago School, The Great Moderation, The Market for Lemons, the market place, The Myth of the Rational Market, the payments system, The Wealth of Nations by Adam Smith, too big to fail, Tyler Cowen: Great Stagnation, very high income, winner-take-all economy, zero-sum game

On the forces driving inequality and their consequences, see Organisation for Economic Co-operation and Development, Divided We Stand: Why Inequality Keeps Rising (Paris: OECD, 2011), Joseph Stiglitz, The Price of Inequality: How Today’s Divided Society Endangers our Future (New York and London: Norton, 2012), and Thomas Piketty, Capital in the Twenty-First Century (Cambridge, MA, and London, England, 2014). 59. See, in particular, a remarkable paper by Christoph Lakner and Branco Milanovic of the World Bank, ‘Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession’, World Bank Research Working Paper 6719, December 2013, http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2013/12/11/000158349_20131211100152/Rendered/PDF/WPS6719.pdf. 60. See Organisation for Economic Co-operation and Development, Divided We Stand. 61. Stiglitz, The Price of Inequality, especially ch. 2. 62. Rajan, Fault Lines, ch. 1. Part III.

‘The Stimulus Tragedy’, The New York Times, 20 February 2014. http://www.nytimes.com/2014/02/21/opinion/krugman-the-stimulus-tragedy.html?ref=paulkrugman. Kuttner, Robert. Debtors’ Prison: The Politics of Austerity Versus Possibility (New York: Alfred A. Knopf, 2013). Laeven, Luc and Fabian Valencia. ‘Systemic Banking Crises: A New Database’, International Monetary Fund WP/08/224, 2008. www.imf.org. Lakner, Christoph and Branco Milanovic. ‘Global Income Distribution: From the Fall of the Berlin Wall to the Great Recession’, World Bank Research Working Paper No. 6719, December 2013. http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2013/12/11/000158349_20131211100152/Rendered/PDF/WPS6719.pdf. Lanman, Scott and Steve Matthews. ‘Greenspan Concedes to “Flaw” in his Market Ideology’, 23 October 2008. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ah5qh9Up4rIg.


pages: 476 words: 144,288

1946: The Making of the Modern World by Victor Sebestyen

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anti-communist, Ayatollah Khomeini, Berlin Wall, Bretton Woods, British Empire, centre right, clean water, colonial rule, Etonian, European colonialism, Fall of the Berlin Wall, full employment, illegal immigration, imperial preference, land reform, long peace, Mahatma Gandhi, mass immigration, Mikhail Gorbachev, Monroe Doctrine, moral hazard, operation paperclip

The King David Hotel in Jerusalem after it was blown up by the Irgun (© The LIFE Picture Collection / Getty Images) 29. Some rare good news in gloom-laden Britain, mid-1946 (© The LIFE Picture Collection / Getty Images) 30. A postcard to mark the first anniversary of the liberation of Dachau concentration camp (© Interfoto / Friedrich / Mary Evans) Maps Introduction As a journalist, I have covered events ranging from the fall of the Berlin Wall and the collapse of the former Soviet Union to the cycle of violence and counter-violence in the Middle East over the existence of Israel and Palestine. Throughout, America has dominated as the world’s superpower. During many visits to India I have seen a desperately poor country, stuck in the past, transform itself into a vibrant society, looking to the future. China moved from permanent revolution to a form of rampant capitalism run by people calling themselves communists.

In the Soviet-controlled sector of Germany, hunger abounded, but there was almost no starvation – a point which Russian officials made sure to highlight to Germans living under American and British Occupation. But there was a heavy price to pay for this largesse. Nobody knows for certain how many German women were raped by Soviet troops in the immediate euphoria of victory. It was seldom mentioned in Germany until decades afterwards; certainly not in Eastern Germany, where the subject was completely taboo until the fall of the Berlin Wall in 1989. In the spring of 1946 between 150,000 and 200,000 ‘Russian babies’ were born in the Soviet zone, the vast majority of whom were brought up as orphans. Of all children born in Berlin between January and April, it is estimated that one in six were fathered by Russians. The number aborted was far higher – according to some medical opinion, between five and eight times higher. Besides the ordeal of rape itself, ‘venereal disease as a result of rape by a Russian was part of a woman’s lot in that period.


pages: 442 words: 135,006

ZeroZeroZero by Roberto Saviano

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Berlin Wall, Bernie Madoff, call centre, credit crunch, double entry bookkeeping, Fall of the Berlin Wall, illegal immigration, Julian Assange, London Interbank Offered Rate, Mikhail Gorbachev, new economy, open borders, planetary scale, Ponzi scheme, Ronald Reagan, Skype, Steve Jobs, uranium enrichment, WikiLeaks

What we experience today, the economy that regulates our lives, is determined more by what Félix Gallardo, El Padrino, and Pablo Escobar, El Magico, decided and did in the eighties than by anything Ronald Reagan and Mikhail Gorbachev decided or did. Or at least that’s how I see it. Various testimonies relate that in 1989 El Padrino convened all the most powerful Mexican drug lords in a resort in Acapulco. While the world was preparing for the fall of the Berlin Wall, while the past of the cold war, iron curtains, and insuperable borders was being buried, the future of the planet was silently being planned in this city in southwestern Mexico. El Padrino decided to subdivide his activity and assign various segments to traffickers the DEA hadn’t fixed their eyes on yet. He divided his territory into zones, or plazas, each entrusted to men with exclusive rights to manage his assigned plaza.

From an FBI report it appears that one of his lieutenants, who is stationed in Los Angeles, met with two New York Russians linked to the Genovese crime family to develop a plan for shipping toxic American medical waste to Ukraine, to the area of Chernobyl, probably with kickbacks to local decontamination authorities. The Don’s imagination knows no limits. It’s 1997, and Mogilevic has several tons of enriched uranium on hand, apparently one of many gifts from the fall of the Berlin Wall. Warehouses are full of weapons; he just has to figure out how to be the first to claim them. The Brainy Don arranges a meeting at the Karlovy Vary spa; he loves that place. The buyers are seated across the table from him, distinguished Middle Eastern men. Everything seems to be going smoothly, but the Czech authorities blow the deal. In 1998 an FBI report identifies money laundering as Don Semën’s principal activity in the United States, and reveals both his and Solncevo’s interest in YBM Magnex International, a Pennsylvania-based company with branches in Hungary and Great Britain, which officially produces industrial magnets.

Falling Behind: Explaining the Development Gap Between Latin America and the United States by Francis Fukuyama

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Andrei Shleifer, Atahualpa, barriers to entry, Berlin Wall, British Empire, business climate, Cass Sunstein, central bank independence, collective bargaining, colonial rule, conceptual framework, creative destruction, crony capitalism, European colonialism, Fall of the Berlin Wall, first-past-the-post, Francis Fukuyama: the end of history, Francisco Pizarro, Hernando de Soto, income inequality, income per capita, labour market flexibility, land reform, land tenure, Monroe Doctrine, moral hazard, New Urbanism, oil shock, open economy, purchasing power parity, rent-seeking, Ronald Reagan, The Wealth of Nations by Adam Smith, total factor productivity, trade liberalization, transaction costs, upwardly mobile, Washington Consensus, zero-sum game

However, despite such judicious mediation, the United States maintained a distant relationship with Mexico, skillfully depicted in a book by journalist Alan Riding entitled, precisely, Distant Neighbors.15 Despite being united by geography, migratory flows, and significant trade, the two neighbors lived at a distance from one another, separated by an immense development gap and an even greater divide of a mutual lack of understanding. Although, in the 1980s, Mexico suddenly and timidly began to change its economic policies, reducing its tariffs and partially opening up to international trade, signs of real change did not arrive until the fall of the Berlin Wall. It was this historical opportunity that both countries were able to read: Mexico and the United States could, for mutual benefit, become closer trading partners. The Mexican administration of Carlos Salinas de Gortari (1988– 1994) demonstrated courage and audacity by proposing to Mexican society a pact with the United States. It is true that ill will toward the United States was always less evident in Mexico than in the Caribbean and the former “banana republics,” where the U.S. presence had been more permanent and its political and military dominion much more direct.

From 1936 to 2004, with few exceptions, defense and security and social welfare were the leading categories of spending. Of course, there were very high peaks in the period dominated by the military effort required by World War II (from 1941 to 1945, defense spending absorbed 76.2 percent of GDP), but as of the 1971–1975 period, still in the midst of the Cold War, social welfare spending clearly overtook defense spending. And that is not all: in the years subsequent to the fall of the Berlin Wall and up until 2004, in the United States more was spent on health care than on defense. One should highlight these aspects in a republic whose military expansion, with no rival in the world, is clear. Nonetheless, outlays on defense are not the largest category. Just as the Argentina of “social justice” was more inclined to set its pace in spending on the economy and defense, the militarist republic of the United States is more geared to social welfare and health.48 Furthermore, if we analyze the separation of fiscal powers according to how it ties into the supply of public goods, one must bear in mind that Why Institutions Matter 251 table 9.6 United States: Federal and Subnational Public Spending: Outlays by Purpose 1936– 1940 1941– 1945 1946– 1950 1951– 1955 1956– 1960 Consolidated Public Sector Federal government Subnational governments 100% 100% 0 100% 100% 0 100% 81.4% 18.6% 100% 72.9% 27.1% 100% 100% 69.0% 67.3% 31.0% 32.7% General Administration Federal government Subnational governments 8.2% 8.2% 0 4.8% 4.8% 0 14.4% 14.4% 0 5.9% 5.9% 0 6.5% 6.5% 0 Defense and Security Federal government Subnational governments 17.5% 17.5% 0 76.2% 76.2% 0 36.2% 36.2% 0 47.0% 47.0% 0 38.9% 31.9% 38.9% 31.9% 0 0 Health Federal government Subnational governments 0.6% 0.6% 0 0.2% 0.2% 0 0.4% 0.4% 0 0.4% 0.4% 0 0.5% 0.5% 0 0.9% 0.9% 0 Education and Culture Federal government Subnational governments 20.8% 20.8% 0 3.1% 3.1% 0 0.3% 0.3% 0 0.4% 0.4% 0 0.6% 0.6% 0 0.9% 0.9% 0 Economic Development Federal government Subnational governments 24.4% 24.4% 0 8.0% 8.0% 0 4.3% 4.3% 0 4.0% 4.0% 0 4.7% 4.7% 0 5.5% 5.5% 0 Social Welfare Federal government Subnational governments 22.3% 22.3% 0 6.3% 6.3% 0 20.0% 20.0% 0 13.3% 13.3% 0 16.7% 18.6% 16.7% 18.6% 0 0 Public Debt Federal government Subnational governments 9.5% 9.5% 0 3.5% 3.5% 0 9.1% 9.1% 0 5.5% 5.5% 0 4.8% 4.8% 0 4.6% 4.6% 0 -2.2% -3.4% -3.6% -3.6% -3.3% -2.2% 0 -3.4% 0 -3.6% 0 -3.6% 0 -3.3% 0 Undistributed Compensatory -3.3% Resources Federal government -3.3% Subnational governments 0 1961– 1965 8.3% 8.3% 0 Notes: Data are given in percentage of GDP in averages per five-year period. nd: no data.


pages: 570 words: 158,139

Overbooked: The Exploding Business of Travel and Tourism by Elizabeth Becker

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airport security, Asian financial crisis, barriers to entry, Berlin Wall, BRICs, car-free, carbon footprint, clean water, collective bargaining, colonial rule, computer age, corporate governance, Costa Concordia, Deng Xiaoping, European colonialism, Exxon Valdez, Fall of the Berlin Wall, Frank Gehry, global village, happiness index / gross national happiness, haute cuisine, indoor plumbing, Masdar, Murano, Venice glass, open borders, out of africa, race to the bottom, Ralph Nader, Scramble for Africa, Silicon Valley, statistical model, sustainable-tourism, the market place, union organizing, urban renewal, wage slave, young professional, éminence grise

What Frommer had discovered was that tourism was becoming an industry and needed to be reduced to its parts for consumers—book a plane, find a hotel, eat some meals, go on a sightseeing tour—and he was more than happy to act as that go-between with his guidebooks, making a small fortune in the process. The question for the U.N. World Tourism Organization was how to bottle that elixir, measure it and claim it officially as an industry. The answer came in two parts—first from geopolitics, then from the industry itself. It took nothing less than the fall of the Berlin Wall and the end of the Soviet Empire to open up minds and horizons. The Berlin Wall was the most famous of the barbed-wire barriers erected by eastern and central European puppet governments to cut off their people from their continental neighbors during the Cold War that had pitted the Communist countries against those in the democratic market system of capitalism. Since the end of World War II, the two sides had fought hot wars through proxies in Asia and South America and aimed nuclear weapons at each other in the ultimate standoff for supremacy.

That could have put a severe dent in Dubai’s plans for tourism, so the sheikh made the wildly risky decision to create an airline just for Dubai that he named Emirates. With $10 million and the help of two British expatriate airline experts, he put his son Sheikh Mohammed, the current ruler, in charge of starting up Emirates and turning it into the region’s star carrier. That was 1986—an auspicious moment in tourism and all the stars aligned in Dubai’s favor. Just as Emirates was getting off the ground, the world opened up after the fall of the Berlin Wall. By the 1990s previously closed economies were jumping into the world markets, especially in Asia: China, India, and Southeast Asia. Emirates saw an opening and got landing rights to fly into these newly developing countries, especially the second- and third-tier cities that had only known puddle-jumper airlines, what the industry called “under-served areas,” which became lucrative markets when the middle classes started flying, on Emirates Airlines.


pages: 372 words: 115,094

Reagan at Reykjavik: Forty-Eight Hours That Ended the Cold War by Ken Adelman

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anti-communist, Berlin Wall, British Empire, cuban missile crisis, Deng Xiaoping, Dissolution of the Soviet Union, Donald Trump, F. W. de Klerk, Fall of the Berlin Wall, Haight Ashbury, Kitchen Debate, kremlinology, Mikhail Gorbachev, mutually assured destruction, old-boy network, Ronald Reagan, Ronald Reagan: Tear down this wall, Saturday Night Live, Sinatra Doctrine, War on Poverty, Yogi Berra

The session was nearly universally condemned, even by those as astute in foreign policy as Richard Nixon, who declared, “No summit since Yalta has threatened Western interests so much as the two days at Reykjavik.” The following year, 1987, Reykjavik received some acclaim when agreements reached over that weekend were signed in the White House as part of a sweeping arms control treaty. Since then—despite the earth-shattering events of the fall of the Berlin Wall, the demise of Communism in Eastern Europe, the collapse of the Soviet Union, and end of the Cold War—Reykjavik has mostly been relegated to a footnote in history, something akin to the Glassboro summit of 1967 between U.S. president Lyndon Johnson and Soviet premier Aleksey Kosygin. Specialists have debated the summit’s significance, particularly at four conferences held on its anniversaries, but their debates have largely remained there—among specialists at conferences.

When probed on what might replace it, he replied cleverly, “The Sinatra doctrine,” referring to “My Way,” the crooner’s signature song. “Every country decides on its own which road to take,” Gerasimov said smiling. Taking the cue, the East German people did it their way. They summarily ousted Honecker, who was replaced by Egon Krenz, who summarily ousted his entire cabinet. However, none of this was enough for the protestors. For the Wall was still there. 9/11 AND 11/9 WERE seminal dates in modern history. The fall of the Berlin Wall on 11/9/89 was one of the biggest events between President Kennedy’s 1963 assassination and the 2001 terrorist attacks of 9/11. Like many Americans, I can remember where I was on each of these days. On 11/9/89, I was heading for Budapest to attend a conference on nuclear disarmament. By then, Hungary had become a new country. Its Communist Party had been disbanded, its parliamentary members had been replaced, and its constitution was being rewritten to assure civil liberties.

Making Globalization Work by Joseph E. Stiglitz

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affirmative action, Andrei Shleifer, Asian financial crisis, banking crisis, barriers to entry, Berlin Wall, business process, capital controls, central bank independence, corporate governance, corporate social responsibility, currency manipulation / currency intervention, Doha Development Round, Exxon Valdez, Fall of the Berlin Wall, Firefox, full employment, Gini coefficient, global reserve currency, Gunnar Myrdal, happiness index / gross national happiness, illegal immigration, income inequality, income per capita, incomplete markets, Indoor air pollution, informal economy, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), inventory management, invisible hand, John Markoff, Kenneth Arrow, Kenneth Rogoff, low skilled workers, manufacturing employment, market fundamentalism, Martin Wolf, microcredit, moral hazard, North Sea oil, offshore financial centre, oil rush, open borders, open economy, price stability, profit maximization, purchasing power parity, quantitative trading / quantitative finance, race to the bottom, reserve currency, rising living standards, risk tolerance, Silicon Valley, special drawing rights, statistical model, the market place, The Wealth of Nations by Adam Smith, Thomas L Friedman, trade liberalization, trickle-down economics, union organizing, Washington Consensus, zero-sum game

Even if its GDP increases, the growth may not be sustainable, or sustained. And even if growth is sustained, most of its people may find themselves worse off. The debate about economic globalization is mixed with debates about economic theory and values. A quarter century ago, three major schools of economic thought competed with each other—free market capitalism, communism, and the managed market economy. With the fall of the Berlin Wall in 1989, however, the three were reduced to two, The Promise of Development and the argument today is largely between those who push free market ideology and those who see an important role for both government and the private sector. Of course, these positions overlap. Even free market advocates recognize that one of the problems in Africa is the lack of government. And even critics of unfettered capitalism respect the importance of the market.

(China, in spite of its progress toward a market economy, is still treated as a nonmarket economy.)" In the case of nonmarket economies, the costs used to calculate whether goods are being dumped are not the actual costs, but what the costs would be in some surrogate country. Those seeking to make a dumping charge stick look for a country where costs will be high, so that high dumping duties can be levied. In one classic case, in the days before the fall of the Berlin Wall, the United States levied dumping duties against Polish golf carts, using Canada as the surrogate country. Costs in Canada were so high that Canada did not produce golf carts, so dumping duties were levied on the basis of a calculation of what it would have cost Canada to produce golf carts, if Canada were to have produced them. In many places, including the EU, the surrogate country can even be the country bringing the charge—in which case, almost by definition, costs are greater, otherwise there would be no trouble competing.


pages: 515 words: 142,354

The Euro: How a Common Currency Threatens the Future of Europe by Joseph E. Stiglitz, Alex Hyde-White

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bank run, banking crisis, barriers to entry, battle of ideas, Berlin Wall, Bretton Woods, capital controls, Carmen Reinhart, cashless society, central bank independence, centre right, cognitive dissonance, collapse of Lehman Brothers, collective bargaining, corporate governance, correlation does not imply causation, credit crunch, Credit Default Swap, currency peg, dark matter, David Ricardo: comparative advantage, disintermediation, diversified portfolio, eurozone crisis, Fall of the Berlin Wall, fiat currency, financial innovation, full employment, George Akerlof, Gini coefficient, global supply chain, Growth in a Time of Debt, housing crisis, income inequality, incomplete markets, inflation targeting, information asymmetry, investor state dispute settlement, invisible hand, Kenneth Arrow, Kenneth Rogoff, knowledge economy, labour market flexibility, labour mobility, light touch regulation, manufacturing employment, market bubble, market friction, market fundamentalism, Martin Wolf, Mexican peso crisis / tequila crisis, money market fund, moral hazard, mortgage debt, neoliberal agenda, new economy, open economy, paradox of thrift, pension reform, pensions crisis, price stability, profit maximization, purchasing power parity, quantitative easing, race to the bottom, risk-adjusted returns, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, secular stagnation, Silicon Valley, sovereign wealth fund, the payments system, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, transfer pricing, trickle-down economics, Washington Consensus, working-age population

In 1957, this vision came closer to being a reality with the signing of the Rome Treaty, which established the European Economic Community (EEC), comprising Belgium, France, Italy, Luxembourg, the Netherlands, and West Germany. In the following decades, dominated by the Cold War, various other Western European countries joined the EEC. Step by step, restrictions were eased on work, travel, and trade between the expanding list of EEC countries. But it was not until the end of the Cold War that European integration really gained steam. The fall of the Berlin Wall in 1989 showed that the time for much closer, stronger European bonds had grown near. The hopes for a peaceful and prosperous future were higher than ever, among both leaders and citizens. This led to the signing, in 1992, of the Maastricht Treaty, which formally established the European Union and created much of its economic structure and institutions—including setting in motion the process of adopting a common currency, which would come to be known as the euro.

Then, through heavy investments in education, it grew to the point that by 2007 its per capita income was $42,300, or 93 percent of that of the United States. But then a series of problems befell the country: in the fast-changing world of hi-tech, its leading company, Nokia, lost out to competitors. Finland had close ties with Estonia, which was badly hit by the 2008 crisis. And after the fall of the Berlin Wall, Finland had profited by strong trade with Russia. But sanctions with that country hurt Finland as well as Russia, which also suffered from the decline in oil and gas prices. Finland’s GDP shrank by 8.3 percent in 2009, and in 2015 it was still some 5.5 percent below its 2008 peak. In the absence of the euro, Finland’s exchange rate would have fallen, and the decrease in imports and increase in exports would have stimulated the economy.

Poisoned Wells: The Dirty Politics of African Oil by Nicholas Shaxson

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Asian financial crisis, Berlin Wall, blood diamonds, business climate, central bank independence, clean water, colonial rule, energy security, Exxon Valdez, failed state, Fall of the Berlin Wall, Hernando de Soto, income per capita, inflation targeting, Martin Wolf, mobile money, offshore financial centre, old-boy network, Ronald Reagan, Scramble for Africa, Yom Kippur War, zero-sum game

You can often spot Corsicans because their names, while French, sound Italian: Marchiani, Tarallo, Tomi, Leandri, Guélfi, Feliciaggi. “These mandarin . . . strands of power had become tightly intertwined in a network that has been dubbed ‘France Inc.,’” wrote Ignatius. “The ruling clans needed each other—and they protected each other.”14 Normally Bidermann’s case would have been quietly dropped. But Joly was an outsider, and French politics was in flux after the fall of the Berlin Wall. The French left and right, as well as the foreign and domestic secret services, were engaged in giant, tentacular struggles, which were generating press leaks and anonymous tip-offs for the magistrates. Elf was being privatized then, too, and the new head of the company lodged a formal complaint with the magistrates against his predecessor, hoping to mark a clean break with Elf ’s dirty past.15 French president Jacques Chirac, who took power in 1995, also wanted to tarnish the image of his predecessor, François Mitterrand, and his people were adding to the leaks.

Milongo rose to greet me just inside the entrance. Though nearly 70, he was handsome and sprightly, and wore a collarless brown suit and a thick, loose, chain bracelet. After the pleasantries, he began his story, a Shakespearean tragedy with many human actors, and one huge, shadowy non-human lurking offstage, influencing everyone. “Oil? Yes,” he said. “It is behind all these problems.” His tale began with the fall of the Berlin Wall in 1989. “Marxism was a pretext—a religion,” he said. “They ruled Congo with it, but not always in the people’s interests. It failed in the Soviet Union, and failed here, too.” By 1990 political pressure was rising from the streets like heat haze, and president Dénis Sassou Nguesso, a Freemason who had been in power since 1979, was forced to accept big changes. He remained president but lost most of his powers to Milongo, who was popular partly because he had 105 P o i s o n e d We l l s been out of Congo for ten years, and was consequently not so tainted with the incestuous world of Françafrique.


pages: 403 words: 125,659

It's Our Turn to Eat by Michela Wrong

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Berlin Wall, Bob Geldof, Bretton Woods, British Empire, clean water, colonial rule, Doha Development Round, failed state, Fall of the Berlin Wall, financial independence, Kibera, Mahatma Gandhi, Mikhail Gorbachev, oil shock, out of africa, profit motive, Ronald Reagan, structural adjustment programs, upwardly mobile, young professional, zero-sum game, éminence grise

It was Ali who gave John his first taste of journalism, commissioning him to write a book review. He was impressed by the young man's earnestness and idealism. ‘He used to tell me: “You should be more ambitious, you can change this world.” We used to joke that one day John Githongo would be president of Kenya.’ For Ali, John was remarkable for his attempt to get to grips intellectually with his stagnating country's predicament. The fall of the Berlin Wall in 1989 had ushered in a period of tumultuous change in Africa, in which a generation of post-independence autocrats faced increasingly strident calls for multi-party democracy. It was a drive Moi was doing his best to ignore, banning demonstrations and jailing opponents. ‘Here was someone thinking his way out of a society that was tyrannically stable, a police state. There'd been a long period where the Asians, the wazungu, everyone had struck this compact with the political classes, comfortable accommodations had been made, everyone had his place in the system.

Kenyatta had undoubtedly been both authoritarian and corrupt, but a healthier economy meant the looting drew less attention. Moi's far leaner economy struggled, in contrast, to sustain the impact of State House's system of authorised looting, which a minister later estimated to have cost the taxpayer a total of 635 billion Kenya shillings (roughly $US10 billion) in the space of twenty-four years.29 Identical practices were viewed in the West with freshly critical eyes. The fall of the Berlin Wall meant support for disreputable African regimes could no longer be justified on traditional ‘He may be a bastard, but he's our bastard’ lines. Many of those bastards were seen to produce failed states, judged – with the menace of the Soviet empire gone – to threaten Western interests. The new head of the World Bank, the Australian James Wolfensohn, gave voice to the new approach when he declared corruption an ‘intolerable cancer’.


pages: 497 words: 161,742

The Enemy Within by Seumas Milne

active measures, anti-communist, Berlin Wall, collective bargaining, corporate governance, Edward Snowden, Etonian, Fall of the Berlin Wall, invisible hand, market fundamentalism, Mikhail Gorbachev, Naomi Klein, Neil Kinnock, New Journalism, Ronald Reagan, strikebreaker, union organizing, Washington Consensus, Winter of Discontent, éminence grise

Diverting even a tiny part of the vast reserves of hard currency spent on Warsaw Pact weapons programmes to underwrite industrial struggles, he argued, would be highly effective in terms of its political impact. Using the IMO’s Dublin solidarity trust as a prototype, the British miners’ leader lobbied for the creation of a £30 million fund to help support international trade-union action. Some thought he had lost touch with reality. Others were highly receptive. A year before the fall of the Berlin Wall, Scargill discussed the scheme with Erich Honecker, the East German Communist leader, and Harry Tisch, head of the country’s trade unions, who, he claims, agreed in principle to commit £2 million to a wider solidarity fund. He also had talks in Moscow in January 1990 with Gennadi Yanayev – the Soviet vice-president who would later achieve notoriety as the front man in the bizarre ‘coup’ of August 1991 – about the scheme.

The CIA’s man, George – now ‘Yuri’ – Miller moved to Russia in 1992 after the final collapse of the Soviet Union and became an economic adviser to the Yeltsin government. Both Sergei Massalovitch, who complained to the British Fraud Squad about Scargill’s ‘diversion’ of Soviet aid, and Yuri Butchenko, who followed in his footsteps under Miller’s tutelage, were later expelled from the Vorkuta strike committee for misappropriating the organization’s equipment. Butchenko subsequently set up his own ‘information agency’.60 Meanwhile, long after the fall of the Berlin Wall, the international trade-union movement carried on fighting the Cold War. Trade unions remained locked into structures which held back the kind of cross-border action that could match the globalization of capital. As the centrist British union leader John Edmonds predicted, the implosion of the WFTU in the wake of the collapse of the East did not reunite the international trade-union movement, but left it more fragmented than ever.


pages: 489 words: 132,734

A History of Future Cities by Daniel Brook

Berlin Wall, British Empire, business process, business process outsourcing, call centre, carbon footprint, Celtic Tiger, collateralized debt obligation, collective bargaining, Credit Default Swap, credit default swaps / collateralized debt obligations, Deng Xiaoping, desegregation, Edward Glaeser, Fall of the Berlin Wall, financial innovation, glass ceiling, indoor plumbing, joint-stock company, land reform, Mikhail Gorbachev, New Urbanism, open economy, Parag Khanna, Pearl River Delta, Potemkin village, profit motive, rent control, sovereign wealth fund, special economic zone, trade route, urban planning, urban renewal, working poor

But the fast-forward timescale of Pudong is the same one on which Chinese Communism has reinvented itself—a reinvention written into the cityscape itself. At one end of Century Avenue stands the last Soviet building: the Shanghai Oriental Pearl Radio and Broadcasting Tower, which is anchored by a plodding concrete tripod and punctuated by a series of bulbous pink spheres (the “pearls”). Conceived in 1988, a year before the Tiananmen Square protests and the fall of the Berlin Wall, the tower, which opened in 1995, was built to broadcast television and radio programs. Symbolizing the state’s power to control the masses through propaganda, such towers were staples of East Bloc cities, and they dominated Communist-era skylines everywhere from Leningrad to East Berlin. That it took China’s leading city until 1995 to erect its TV tower bears witness to how stunted China was, even by East Bloc standards.

As the information age dawned, India levied tariffs on imported computer software that topped 100 percent and employed an army of 250,000 bureaucrats to oversee its mere 2.5 million telephones. Even so, for decades the nation’s economic problems had been partially masked by a favorable barter trade with a friendly Soviet Union that sought to project its influence into South Asia. But with the erstwhile superpower teetering after the fall of the Berlin Wall, India was nearly broke and the bankers who had sustained the country on credit were growing nervous. The Washington-based International Monetary Fund, spawned in the wake of World War II to oversee the financial system of the non-Communist world, agreed to provide a bailout—but only in return for major structural changes to the Indian economy. Washington decreed that India would have to shift from a variant of the planning-based Soviet model to a variant of the market-driven American system.


pages: 173 words: 14,313

Peers, Pirates, and Persuasion: Rhetoric in the Peer-To-Peer Debates by John Logie

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1960s counterculture, Berlin Wall, book scanning, cuban missile crisis, Fall of the Berlin Wall, Hacker Ethic, Isaac Newton, Marshall McLuhan, moral panic, mutually assured destruction, peer-to-peer, Plutocrats, plutocrats, pre–internet, publication bias, Richard Stallman, search inside the book, SETI@home, Silicon Valley, slashdot, Steve Jobs, Steven Levy, Stewart Brand, Whole Earth Catalog

Historians typically date the Cold War as stretching from roughly 1947 to 1989. Most accounts point to the Cold War commencing during a brutal winter in Europe, which ratcheted up a contest between the U.S. and the Soviet Union over which country could provide more aid to the affected nations (most of which were already reeling from the after-effects of World War II). There is near-universal agreement that the Cold War ended with the fall of the Berlin Wall on November 9, 1989. While various labels are applied to the intervening periods, there is general agreement that the U.S. and the Soviet Union engaged in a pitched conflict with the very real possibility of nuclear confrontation after reaching a point of schism in the late 1940s. This nuclear threat persisted until the inauguration of a mutually acknowledged period of détente in 1968. For years, no one was certain how close the two superpowers had come to what was then referred to as a “tactical nuclear exchange.”


pages: 159 words: 45,073

GDP: A Brief but Affectionate History by Diane Coyle

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Asian financial crisis, Berlin Wall, big-box store, Bretton Woods, BRICs, clean water, computer age, conceptual framework, crowdsourcing, Diane Coyle, double entry bookkeeping, en.wikipedia.org, endogenous growth, Erik Brynjolfsson, Fall of the Berlin Wall, falling living standards, financial intermediation, global supply chain, happiness index / gross national happiness, income inequality, income per capita, informal economy, John von Neumann, Kevin Kelly, Long Term Capital Management, mutually assured destruction, Nathan Meyer Rothschild: antibiotics, new economy, Occupy movement, purchasing power parity, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, Silicon Valley, Simon Kuznets, The Wealth of Nations by Adam Smith, Thorstein Veblen, University of East Anglia, working-age population

In 1975, U.S. GDP declined while inflation rose to more than 10 percent. Almost all the OECD’s member countries were facing stagflation, and for the first time in a generation economists were not confident they had the answers. COMMUNISM Every era is politically divided but it can be hard to recall the character of the division in an earlier time. From this side of November 1989, when the fall of the Berlin Wall symbolized the sudden, unexpected, and complete collapse of communism and its system of economic planning, it is easy to assume that those events were inevitable. That is not how it looked beforehand, not even when Margaret Thatcher and Ronald Reagan won their respective first election victories in 1979 and 1981, and certainly not in the 1970s. In 1970, Stalin’s crimes against his own people were known, but Mao’s did not emerge for another decade.


pages: 237 words: 50,758

Obliquity: Why Our Goals Are Best Achieved Indirectly by John Kay

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Andrew Wiles, Asian financial crisis, Berlin Wall, bonus culture, British Empire, business process, Cass Sunstein, computer age, corporate raider, credit crunch, Daniel Kahneman / Amos Tversky, discounted cash flows, discovery of penicillin, diversification, Donald Trump, Fall of the Berlin Wall, financial innovation, Gordon Gekko, greed is good, invention of the telephone, invisible hand, Jane Jacobs, Long Term Capital Management, Louis Pasteur, market fundamentalism, Myron Scholes, Nash equilibrium, pattern recognition, Paul Samuelson, purchasing power parity, RAND corporation, regulatory arbitrage, shareholder value, Simon Singh, Steve Jobs, The Death and Life of Great American Cities, The Predators' Ball, The Wealth of Nations by Adam Smith, ultimatum game, urban planning, value at risk

Not long ago, even people who experienced it did not believe it. Like the bewildered Russians, they found it self-evident that things would work better if someone was in charge. In the 1960s, as the Whiz Kids rose to power in business and politics, there was genuine fear that Russian technological superiority would overtake the West.2 Only in the 1980s did it become evident how misplaced these fears had been, and only after the fall of the Berlin Wall was it clear just how dismal was the economic performance of the planned economies. Many people who seek to build ever more centralized business organizations, or to institute a global financial architecture, still do not really take the implications of this evidence on board. The economist Friedrich von Hayek gave a prescient explanation of planning’s failures. The evolved complexity that Darwin had observed in nature was also true of economic and social systems.


pages: 225 words: 189

The Coming Anarchy: Shattering the Dreams of the Post Cold War by Robert D. Kaplan

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Berlin Wall, clean water, Deng Xiaoping, edge city, European colonialism, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global village, Honoré de Balzac, mass immigration, Peace of Westphalia, Ronald Reagan, Thomas Malthus, trade route, unemployed young men, Yom Kippur War

Random House website address: www.atrandom.com Printed in the United States of America on acid-free paper 24689753 First Edition Book design by Barbara M. Bachman To EDIT BORNSTEIN, AVNER RICHARD GOREN, LOBELL, R I C H A R D AND V A R D A N O W I T Z , AND H A R R Y W A L L B E F O R E T H E N A M E S OF J U S T A N D CAN HAVE PLACE, THERE MUST BE SOME COERCIVE —Thomas Hobbes, UNJUST POWER. LEVIATHAN PREFACE The years that follow an epochal military and political victory such as the fall of the Berlin Wall are lonely times for realists. The victors naturally assume that their struggle carries deep significance, of a kind that cannot fail to redeem the world. In­ deed, the harder and longer the struggle, the greater its mean­ ing in the mind of the winning side, and the greater the benefits it sees for humanity. Victory in World War I saw a burst of such idealism under the banner of "Wilsonianism," a notion that took little account of the real goals of America's European allies and even less account of the realities in the Balkans and the Near East, where democracy and freedom meant height­ ened ethnic awareness.

State-Building: Governance and World Order in the 21st Century by Francis Fukuyama

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Asian financial crisis, Berlin Wall, Bretton Woods, centre right, corporate governance, demand response, Doha Development Round, European colonialism, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, George Akerlof, Hernando de Soto, information asymmetry, liberal world order, Live Aid, Nick Leeson, Pareto efficiency, Potemkin village, price stability, principal–agent problem, rent-seeking, road to serfdom, Ronald Coase, structural adjustment programs, technology bubble, The Market for Lemons, The Nature of the Firm, transaction costs, Washington Consensus, Westphalian system

Weak or failing states commit human rights abuses, provoke humanitarian disasters, drive 92 weak states and international legitimacy 93 massive waves of immigration, and attack their neighbors. Since September 11, it also has been clear that they shelter international terrorists who can do significant damage to the United States and other developed countries. During the period from the fall of the Berlin Wall in 1989 to September 11, 2001, the vast majority of international crises centered around weak or failing states. These included Somalia, Haiti, Cambodia, Bosnia, Kosovo, Rwanda, Liberia, Sierra Leone, Congo, and East Timor. The international community in various guises stepped into each of these conflicts—often too late and with too few resources—and in several cases ended up literally taking over the governance function from local actors.


pages: 165 words: 45,397

Speculative Everything: Design, Fiction, and Social Dreaming by Anthony Dunne, Fiona Raby

3D printing, augmented reality, autonomous vehicles, Berlin Wall, Buckminster Fuller, Cass Sunstein, computer age, corporate governance, David Attenborough, en.wikipedia.org, Fall of the Berlin Wall, game design, global village, Google X / Alphabet X, haute couture, life extension, Mark Zuckerberg, mouse model, New Urbanism, Peter Eisenman, RAND corporation, Richard Thaler, Ronald Reagan, self-driving car, Silicon Valley, social software, technoutopianism, Wall-E

Design became fully integrated into the neoliberal model of capitalism that emerged during the 1980s, and all other possibilities for design were soon viewed as economically unviable and therefore irrelevant. Walter Pichler, TV Helmet (Portable Living Room), 1967. Photograph by Georg Mladek. Photograph courtesy of Galerie Elisabeth and Klaus Thoman/ Walter Pichler. Second, with the fall of the Berlin Wall in 1989 and the end of the Cold War the possibility of other ways of being and alternative models for society collapsed as well. Market-led capitalism had won and reality instantly shrank, becoming one dimensional. There were no longer other social or political possibilities beyond capitalism for design to align itself with. Anything that did not fit was dismissed as fantasy, as unreal.


pages: 369 words: 80,355

Too Big to Know: Rethinking Knowledge Now That the Facts Aren't the Facts, Experts Are Everywhere, and the Smartest Person in the Room Is the Room by David Weinberger

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airport security, Alfred Russel Wallace, Amazon Mechanical Turk, Berlin Wall, Black Swan, book scanning, Cass Sunstein, commoditize, corporate social responsibility, crowdsourcing, Danny Hillis, David Brooks, Debian, double entry bookkeeping, double helix, en.wikipedia.org, Exxon Valdez, Fall of the Berlin Wall, future of journalism, Galaxy Zoo, Hacker Ethic, Haight Ashbury, hive mind, Howard Rheingold, invention of the telegraph, jimmy wales, John Harrison: Longitude, Kevin Kelly, linked data, Netflix Prize, New Journalism, Nicholas Carr, Norbert Wiener, openstreetmap, P = NP, Pluto: dwarf planet, profit motive, Ralph Waldo Emerson, RAND corporation, Ray Kurzweil, Republic of Letters, RFID, Richard Feynman, Richard Feynman, Ronald Reagan, semantic web, slashdot, social graph, Steven Pinker, Stewart Brand, technological singularity, Ted Nelson, the scientific method, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, Whole Earth Catalog, X Prize

Some of those institutions are highly reluctant to give up the goods because their economic well-being has been based on them. The New York Times has been struggling with this question. Caught between the social responsibility it’s given itself as “the paper of record” and its economic responsibilities as a commercial enterprise, it has struck a cumbersome compromise based on the date of publication. So (at least as I write this), you can read the article announcing the fall of the Berlin Wall on November 9, 1989, online and for free.13 If, however, you want to read E. J. Dionne’s article about the presidential campaign from exactly three years before that, the Times shows you the first paragraph and offers to sell you access to the rest for $3.95.14 If you are looking for an article published between 1923 and 1980—perhaps about the twentieth birthday of the “mental hygiene movement” in 192915—the Times won’t show you even a paragraph, but will sell it to you for $3.95.


pages: 296 words: 82,501

Stuffocation by James Wallman

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3D printing, Airbnb, back-to-the-land, Berlin Wall, big-box store, Black Swan, BRICs, carbon footprint, Cass Sunstein, clean water, collaborative consumption, commoditize, creative destruction, crowdsourcing, David Brooks, Fall of the Berlin Wall, happiness index / gross national happiness, high net worth, income inequality, Intergovernmental Panel on Climate Change (IPCC), James Hargreaves, Joseph Schumpeter, Kitchen Debate, Martin Wolf, mass immigration, McMansion, means of production, Nate Silver, Occupy movement, Paul Samuelson, post-industrial society, Post-materialism, post-materialism, Richard Florida, Richard Thaler, sharing economy, Silicon Valley, Simon Kuznets, Skype, spinning jenny, The Signal and the Noise by Nate Silver, Thorstein Veblen, Tyler Cowen: Great Stagnation, World Values Survey, Zipcar

Because, as the century progressed and capitalism hauled millions out of poverty in the United States, the West, and Japan, it made the stagnating standards of living elsewhere, and the systems their leaders had chosen, look ever worse. It became progressively harder for official news agencies to deny that their countries were falling behind. And it became more obvious that the capitalist system, driven by consumerism and underpinned by materialistic values, was not just different. It was better. Eventually, especially after the fall of the Berlin Wall and the Iron Curtain, many communist, and other, countries started adopting elements of this system too, especially materialistic values, conspicuous consumption and the throwaway culture. Just as it did over here, so it is now giving hundreds of millions over there better lives as well. Again, the way is not entirely clear, but international trade, with materialistic consumerism at its heart, is pulling more out of poverty now than ever before.


pages: 208 words: 67,582

What About Me?: The Struggle for Identity in a Market-Based Society by Paul Verhaeghe

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Berlin Wall, call centre, cognitive dissonance, deskilling, epigenetics, Fall of the Berlin Wall, Francis Fukuyama: the end of history, income inequality, invisible hand, jimmy wales, job satisfaction, knowledge economy, knowledge worker, Louis Pasteur, market fundamentalism, Milgram experiment, new economy, post-industrial society, Richard Feynman, Richard Feynman, Silicon Valley, stem cell, The Spirit Level, ultimatum game, working poor

No convincing answer was advanced, and the few instances in which a supposedly scientific ideology was able to achieve its ideal society ended in complete disaster. By the latter half of the 20th century, the debacle of Nazism and communism had caused a serious loss of faith in ideals. Some even saw the fascist concentration camps and the communist gulags as a legacy of the Enlightenment, arguing that it was time to put on the brakes. The fall of the Berlin Wall put the final nail in the coffin of ideology, and so the idea of an engineered society was shelved. Change and perfectibility remained keywords, but the focus now shifted to the individual. The end of the previous century marked the beginning of a radical new take on identity. People became responsible for perfecting themselves, for engineering their own success. The perfectible individual Where previously the focus had been on social progress, in the last quarter of the 20th century it shifted to the perfectibility of the individual.


pages: 236 words: 67,953

Brave New World of Work by Ulrich Beck

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affirmative action, Asian financial crisis, basic income, Berlin Wall, collective bargaining, conceptual framework, Fall of the Berlin Wall, feminist movement, full employment, future of work, Gunnar Myrdal, hiring and firing, illegal immigration, income inequality, informal economy, job automation, knowledge worker, labour market flexibility, labour mobility, low skilled workers, McJob, means of production, mini-job, postnationalism / post nation state, profit maximization, purchasing power parity, rising living standards, Silicon Valley, working poor, working-age population, zero-sum game

., p. 164. 91 Gray, p. 129. 92 Fresh confirmation of this has been provided by the Red-Green victory in the German elections of autumn 1998. 8 Vision of the Future I The Europe of Civil Labour The great opportunity that arose with the collapse of the bipolar world order in 1989 lies in the fact that no one can lock themselves away any more from other cultures, religions and ideas; that all now share a space in which the old territorial identities and cultures, as well as the old frontiers and identities controlled by national states, suddenly encounter one another without protection. This helps us understand the globalization shock that has continued to affect the countries of Central Europe, and especially Germany since the fall of the Berlin Wall. The other side of our living in a more open world is the fact that there is no longer a single model of capitalism or a single model of modernity. There are many capitalisms, many modernities, which do, however, need to be brought into relationship with one another. Multiple modernities and the mirror of one's own future The self-transformation of the Western model, and of its claim to a monopoly on modernity, has made people in the West more open to the history and present situation of divergent modernities in all regions of the world.


pages: 294 words: 82,438

Simple Rules: How to Thrive in a Complex World by Donald Sull, Kathleen M. Eisenhardt

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Affordable Care Act / Obamacare, Airbnb, asset allocation, Atul Gawande, barriers to entry, Basel III, Berlin Wall, carbon footprint, Checklist Manifesto, complexity theory, Craig Reynolds: boids flock, Credit Default Swap, Daniel Kahneman / Amos Tversky, diversification, drone strike, en.wikipedia.org, European colonialism, Exxon Valdez, facts on the ground, Fall of the Berlin Wall, haute cuisine, invention of the printing press, Isaac Newton, Kickstarter, late fees, Lean Startup, Louis Pasteur, Lyft, Moneyball by Michael Lewis explains big data, Nate Silver, Network effects, obamacare, Paul Graham, performance metric, price anchoring, RAND corporation, risk/return, Saturday Night Live, sharing economy, Silicon Valley, Startup school, statistical model, Steve Jobs, TaskRabbit, The Signal and the Noise by Nate Silver, transportation-network company, two-sided market, Wall-E, web application, Y Combinator, Zipcar

Complexity covers the untidy yet vibrant realm where so much of life unfolds. What makes a primrose open when it does? How do market forces influence the price of gold? How will an expectant mother’s diet affect her child? When will a concussion permanently damage the brain? The world was complex in 1948 when Weaver wrote his influential article, and since then it has become significantly more so. Since the fall of the Berlin Wall, the fates of the world’s economies have become more interwoven, with the number of international trade agreements increasing sixfold since 1990. Over the same time, global air traffic has increased nearly threefold, facilitating the mix of people and commerce around the world. Capital has followed trade, and in the past few decades the correlation between countries’ stock markets has more than doubled, while banks’ exposure to debt beyond their home markets has nearly tripled.


pages: 235 words: 62,862

Utopia for Realists: The Case for a Universal Basic Income, Open Borders, and a 15-Hour Workweek by Rutger Bregman

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autonomous vehicles, banking crisis, Bartolomé de las Casas, basic income, Berlin Wall, Bertrand Russell: In Praise of Idleness, Branko Milanovic, cognitive dissonance, computer age, conceptual framework, credit crunch, David Graeber, Diane Coyle, Erik Brynjolfsson, everywhere but in the productivity statistics, Fall of the Berlin Wall, Francis Fukuyama: the end of history, Frank Levy and Richard Murnane: The New Division of Labor, full employment, George Gilder, George Santayana, happiness index / gross national happiness, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, income inequality, invention of gunpowder, James Watt: steam engine, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, Kodak vs Instagram, labour market flexibility, labour mobility, low skilled workers, means of production, megacity, meta analysis, meta-analysis, microcredit, minimum wage unemployment, Mont Pelerin Society, Nathan Meyer Rothschild: antibiotics, Occupy movement, offshore financial centre, Paul Samuelson, Peter Thiel, post-industrial society, precariat, RAND corporation, randomized controlled trial, Ray Kurzweil, Ronald Reagan, Second Machine Age, Silicon Valley, Simon Kuznets, Skype, stem cell, Steven Pinker, telemarketer, The Future of Employment, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Thorstein Veblen, Tyler Cowen: Great Stagnation, universal basic income, wage slave, War on Poverty, We wanted flying cars, instead we got 140 characters, wikimedia commons, women in the workforce, working poor, World Values Survey

Saudi Arabia is fencing off the entire country. And even as the European Union continues to open borders between its member states, it is allocating millions to head off flimsy boats on the Mediterranean Sea. This policy hasn’t made a dent in the flood of would-be immigrants but is helping human traffickers do a brisk business and is claiming the lives of thousands in the process. Here we are, 25 years after the fall of the Berlin Wall, and from Uzbekistan to Thailand, from Israel to Botswana, the world has more barriers than ever.46 Humans didn’t evolve by staying in one place. Wanderlust is in our blood. Go back a few generations and almost everybody has an immigrant in the family tree. And look at modern China, where 20 years ago the biggest migration in world history led to the influx of hundreds of millions of Chinese from the countryside into its cities.


pages: 202 words: 8,448

Blueprint for Revolution: How to Use Rice Pudding, Lego Men, and Other Nonviolent Techniques to Galvanize Communities, Overthrow Dictators, or Simply Change the World by Srdja Popovic, Matthew Miller

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Albert Einstein, Berlin Wall, British Empire, corporate governance, desegregation, Fall of the Berlin Wall, Jane Jacobs, Kibera, Mahatma Gandhi, McMansion, Mikhail Gorbachev, Mohammed Bouazizi, Occupy movement, Rosa Parks, urban planning, urban sprawl

If you’ve gotten to this point in the book, I’m going to assume that you care about more than just my world-famous Serbian humor and that you’re genuinely interested in the circumstances by which ordinary people can do extraordinary things and change their community, their country, and the world. The next chapters, then, will be less about the what of nonviolent action and more about the how, the principles without which no movement can survive. To begin this section of the book, let’s go to Belarus. There are few better places I can think of to start in. This lovely country, right next to Russia, somehow missed the fall of the Berlin Wall and is today still living the Soviet dream. Now, let’s go back in time and pretend it’s 2010, on the eve of Belarus’s presidential elections. Since 1994 the country has been under the thumb of a ruthless and corrupt despot named Alexander Lukashenko, who lords over the last dictatorship in Europe. A man of many talents, the tall and mustachioed Lukashenko is a big fan of hockey, cross-country skiing, and torture.

Rethinking Camelot by Noam Chomsky

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anti-communist, Berlin Wall, cuban missile crisis, Fall of the Berlin Wall, fear of failure, Howard Zinn, land reform, Monroe Doctrine, Norman Mailer, Paul Samuelson, Ronald Reagan

As described by Charles Maechling, who led counterinsurgency and internal defense planning from 1961 to 1966, that historic decision led to a change from toleration “of the rapacity and cruelty of the Latin American military” to “direct complicity” in “the methods of Heinrich Himmler’s extermination squads.” That hideous chapter in the history of Latin American travail for five hundred years—now mercifully coming to an end, in significant measure—was brought to a peak of fury by Reagan’s terrorist wars in Central America. These ended immediately after the fall of the Berlin Wall with the assassination of six leading Latin American intellectuals, Jesuit priests, by an elite unit of the US-trained and -armed Salvadoran army, fresh from renewed training at the John F. Kennedy school of counterinsurgency, under the direct orders of the Salvadoran High Command. The twenty-fifth anniversary passed in the usual silence accorded to our own crimes. But the facts are not obscure.


pages: 306 words: 79,537

Prisoners of Geography: Ten Maps That Explain Everything About the World by Tim Marshall

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9 dash line, Admiral Zheng, anti-communist, Berlin Wall, British Empire, California gold rush, colonial rule, cuban missile crisis, Deng Xiaoping, drone strike, European colonialism, facts on the ground, failed state, Fall of the Berlin Wall, Hans Island, LNG terminal, market fragmentation, megacity, Mercator projection distort size, especially Greenland and Africa, Mikhail Gorbachev, Monroe Doctrine, oil shale / tar sands, Scramble for Africa, South China Sea, trade route, transcontinental railway, Transnistria, UNCLOS, UNCLOS, zero-sum game

In 1949, the North Atlantic Treaty Organization (NATO) was formed by an association of European and North American states, for the defense of Europe and the North Atlantic against the danger of Soviet aggression. In response, most of the Communist states of Europe—under Russian leadership—formed the Warsaw Pact in 1955, a treaty for military defense and mutual aid. The pact was supposed to be made of iron, but with hindsight, by the early 1980s it was rusting, and after the fall of the Berlin Wall in 1989 it crumbled to dust. President Putin is no fan of the last Soviet president, Mikhail Gorbachev. He blames him for undermining Russian security and has referred to the breakup of the former Soviet Union during the 1990s as a “major geopolitical disaster of the century.” Since then the Russians have watched anxiously as NATO has crept steadily closer, incorporating countries that Russia claims it was promised would not be joining: the Czech Republic, Hungary, and Poland in 1999; Bulgaria, Estonia, Latvia, Lithuania, Romania, and Slovakia in 2004; and Albania in 2009.


pages: 270 words: 79,992

The End of Big: How the Internet Makes David the New Goliath by Nicco Mele

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3D printing, 4chan, A Declaration of the Independence of Cyberspace, Airbnb, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, Apple's 1984 Super Bowl advert, barriers to entry, Berlin Wall, big-box store, bitcoin, business climate, call centre, Cass Sunstein, centralized clearinghouse, Chelsea Manning, citizen journalism, cloud computing, collaborative consumption, collaborative editing, commoditize, creative destruction, crony capitalism, cross-subsidies, crowdsourcing, David Brooks, death of newspapers, Donald Trump, Douglas Engelbart, Douglas Engelbart, en.wikipedia.org, Exxon Valdez, Fall of the Berlin Wall, Filter Bubble, Firefox, Galaxy Zoo, global supply chain, Google Chrome, Gordon Gekko, Hacker Ethic, Jaron Lanier, Jeff Bezos, jimmy wales, John Markoff, Julian Assange, Kevin Kelly, Khan Academy, Kickstarter, Lean Startup, Mark Zuckerberg, minimum viable product, Mohammed Bouazizi, Mother of all demos, Narrative Science, new economy, Occupy movement, old-boy network, peer-to-peer, period drama, Peter Thiel, pirate software, publication bias, Robert Metcalfe, Ronald Reagan, Ronald Reagan: Tear down this wall, sharing economy, Silicon Valley, Skype, social web, Steve Jobs, Steve Wozniak, Stewart Brand, Stuxnet, Ted Nelson, Telecommunications Act of 1996, telemarketer, The Wisdom of Crowds, transaction costs, uranium enrichment, Whole Earth Catalog, WikiLeaks, Zipcar

The actual number of impressions (people who saw Keith’s message in their stream but didn’t repost it) is substantially higher.”2 Alongside this activity, a Pakistani IT consultant named Sohaib Athar, who lived near Osama Bin Laden, was unintentionally live-tweeting the raid, posting updates like “Helicopter hovering above Abbottabad at 1 a.m. (is a rare event).”3 Around the world, many people first learned of Bin Laden’s death and followed the ensuing story not by watching a network newscast or reading a newspaper front page but by reading posts circulated via Facebook, Twitter, and the like. Consider four other recent world-changing events: the assassination of John F. Kennedy, Watergate, the fall of the Berlin Wall, and the tragic events of September 11. In each of these previous events, professional journalists working in the mainstream media played a crucial and even iconic role in delivering and distributing the news to a mass audience. In the case of President Kennedy’s assassination, Walter Cronkite’s broadcasts on CBS News came to stand as a shared cultural experience for millions of Americans.

Unhappy Union by The Economist, La Guardia, Anton, Peet, John

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bank run, banking crisis, Berlin Wall, Bretton Woods, capital controls, Celtic Tiger, central bank independence, centre right, collapse of Lehman Brothers, credit crunch, Credit Default Swap, debt deflation, Doha Development Round, eurozone crisis, Fall of the Berlin Wall, fixed income, Flash crash, illegal immigration, labour market flexibility, labour mobility, light touch regulation, market fundamentalism, moral hazard, Northern Rock, oil shock, open economy, pension reform, price stability, quantitative easing, special drawing rights, supply-chain management, The Great Moderation, too big to fail, transaction costs, éminence grise

The treaty was formally signed only in February 1992. Maastricht laid the foundations for a new ECB and a single European currency, to be brought in either in 1997 or (at the latest) 1999. It also promised to make progress towards the parallel objective of political union; and it symbolically renamed the European Community the European Union. The new treaty reflected above all the changed political situation in Europe after the fall of the Berlin Wall in November 1989 and the subsequent collapse of the Soviet empire. Mitterrand, in particular, was minded to accept German unification after the fall of the wall only if France could secure some control of the Deutschmark, which he feared would otherwise become Europe’s de facto currency. In effect, he had no wish to replace the dominance of the dollar with the dominance of the Deutschmark.

The Haves and the Have-Nots by Branko Milanovic

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Berlin Wall, Branko Milanovic, colonial rule, crony capitalism, David Ricardo: comparative advantage, deglobalization, Deng Xiaoping, endogenous growth, Fall of the Berlin Wall, financial deregulation, full employment, Gini coefficient, high net worth, illegal immigration, income inequality, income per capita, Joseph Schumpeter, means of production, open borders, Pareto efficiency, Plutocrats, plutocrats, purchasing power parity, Simon Kuznets, very high income, Vilfredo Pareto, Washington Consensus, zero-sum game

It could be that our interpretation is too harsh, or that Rawls, faced with the facts of global inequality that were not widely known or appreciated when he wrote The Law of Peoples, might have reconsidered his position. But his writings do not allow us to make this conclusion. Vignette 3.9 Geopolitics in Light of (or Enlightened by) Economics Between the end of the Second World War and the fall of the Berlin Wall, a rather comfortable intellectual division of the world held sway. There were, as we all knew, three worlds on this planet. There was the first world of rich capitalist economies. Not all of them were at the time democracies, but gradually became so (e.g., with political liberalizations in Greece, Spain, Portugal); not all of them were Western: Japan seemed a permanent big exception. There was a second world, although, strangely enough, the term was not frequently used.


pages: 1,309 words: 300,991

Vanished Kingdoms: The Rise and Fall of States and Nations by Norman Davies

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anti-communist, Berlin Wall, British Empire, Celtic Tiger, Corn Laws, en.wikipedia.org, energy security, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, labour mobility, land tenure, mass immigration, Mikhail Gorbachev, oil rush, oil shale / tar sands, Red Clydeside, Ronald Reagan, Skype, special economic zone, trade route, urban renewal

In June the world outcry against the Tiananmen Square massacre in China lessened the chances of Soviet hardliners regaining control, and the triumph of the Solidarity movement in the partial elections in Poland showed that the monolith was cracking. On 23 August 1989, 2 million people linked hands in the ‘Baltic Chain’, which stretched all the way across the Baltic States from Tallinn to Vilnius in Lithuania. It showed that Estonians were not isolated.77 The fall of the Berlin Wall in November, regarded in the West as a world-historical event, did not make the same impact on Soviet citizens, who had still to break the bars of their cage. In 1990 and 1991 the Estonian national movement adopted the strategy of pursuing its own programme while ignoring whatever Moscow did. In February 1990 elections to a Congress of Estonia turned into a de facto referendum on national statehood.

Y. 478 Ahern, Bertie 673, 676 Aidan, St 60 Ailamae 718 Aix-en-Provence 118, 217 Aix-les-Bains 415, 417 Alaborg 243 Åland Isles 617 Alans 17, 18, 31 Alaric I 16–17, 31 Alaric II 18, 24–5, 26, 30, 31 Alaric, Montagne d’ 27 Alauna 46, 47 Alba 66, 70–71, 72, 74, 75–6 Alban, St 46 Albania 197, 587, 597, 601, 617 Albert I of Belgium 600 Albert II of Monaco 637 Albert, prince 543–9, 551–9, 573, 637 timetable he prepared for himself, aged fourteen 547, 548 Albert the Bear 344 Albigensian Crusade 125, 179 Albon, counts of 118, 127 Albrecht Friedrich von Hohenzollern 355 Albrecht von Habsburg 478 Albrecht von Hohenzollern 341, 351, 352, 353–4 Alcañiz, fortress 184 Alcluith 39, 64 Alclut 69 Aleksandar, crown prince of Serbia 593, 601, 606, 612 Aleksandar I Obrenović 589–90 Alemanni 24 Alessandria 414 Alexander I, tsar 293, 334, 699 Alexander II, ‘Tsar Liberator’ 294, 297 Alexander VI, Roderic Llançol de Borja 215, 218 Alexander of Teck, 1st earl of Athlone 566, 569 Alexandria, Egypt 401, 435 museum 481 Alexandria, Vale of Leven 37 Alfons de Borja, Pope Callistus III 215 Alfonso I El Batallado 169, 170 Alfonso II of Aragon and I of Barcelona 171 Alfonso II of Naples 214 Alfonso V the Magnanimous, of Aragon 210, 211–12, 213–14 Alfonso VII of Castile 175 Alfonso of Aragon, Infante Alfonso 201–2 Alfonso of Aragon, son of Fernando I 209 Alfred, duke of Edinburgh and of Saxe-Coburg and Gotha 562, 563 Alfred, hereditary prince of Saxe-Coburg and Gotha 562 Alfred of Wessex, king 68 Alfred the Great 89 Alghero 202 Algierdas 252, 254 Alicante 189 Alice, countess of Athlone 566, 569 Aljaferia Castle 169, 184 Allenstein 342 Allobroges 414 Alt Clud, Kingdom of the Rock 42–83 5th century 49–52 6th century 52–57 7th century 57–62 8th to 9th centuries 62–72 10th century 72–5 11th century 75–7 12th century 77–80 Amadeo, ‘duke of Aosta’ 432–3 Amadeus VI, the Green Count 404 Amadeus VII, the Red Count 404 Amadeus VIII (Felix V) 406 Amalfings 18 Amalric 26 Amanieu de Sescars, il dieu d’amor 172 Ambaciensis (Amboise) 24 Amber Room (Bernsteinzimmer) 383, 386n Amfilohije, Archbishop 614 Amiens, Treaty of 507, 517 Anatolia 196, 319 Ancient Order of Hibernians 644 Ancillon, Charles 365 Andemantunnum (Langres) 95 Andorra 159–60 Andreas von Saxe-Coburg-Gotha 571 Andrew, St 66 Angevins, relations with Aragon 174, 192–3, 195, 197, 211 Angles 53, 56, 57–60, 62, 64 Anglo-Irish Bank 677 Anglo-Irish Treaty 655–7, 661–2, 737 Anglo-Saxon Chronicle 66, 73–4 Anglo-Saxons 42, 44, 738 see also Angles Anna of Prussia 355 Annales Cambriae 52 Annecy 118, 407–8, 436 Anselm von Meisser 342–3 Ansip, Andrus 692 Ansky, Semyon 464–5 Antoinette-Marie of Württemberg 547 Antonine Wall 46, 48, 64 Aquitania/Aquitaine 17, 18–20, 24, 27, 30 Arago, François 154 Aragon, empire 161–227, 166, 178, 192, 735 and the Angevins 174, 192–3, 195, 197, 211 Aragonese language 171 and the Balearic Islands 185, 187–9, 197–200, 202–3, 226 and Castile 163, 165, 166, 169, 170–71, 175, 189, 204–5, 207–10, 211, 215–17, 217, 218–19, 220, 223 and the Catalans 166, 171, 174–5, 177, 189, 196, 199, 200, 202, 206–7, 210, 217–18, 222–7, 736 and the Church 169, 181–3, 184 coronation ceremonies 182–3 and Corsica 197, 201, 210 Crown of Aragon 176, 177, 180, 183–4, 190, 195, 206–7, 209–10, 217–18, 221–7, 736 General Privilege 191 and Gozo 196 and Greece 191, 196, 199 House of Ramiro 164–5, 165 and Jaime I 185–6, 187–9, 197 and the Jews 183–4 and Mallorca 187–8, 197–200, 202–3, 226 and Malta 191, 195–6 and Menorca 188–9, 199 and Montpellier 179–81, 184, 202–3 and Naples 184, 193, 197, 210–14, 211–13, 216–18 navy 205 origins of the kingdom 161–4, 165, 166 and Pedro IV 174, 202–7 Privilege of Union 203 and the Pyrenees 156–60 and the Reconquista 164, 166–9, 173, 181, 183, 184 and Rosselló 177–9, 200, 222 and Sardinia 197, 201–2, 206, 220 and Sicily 191–5, 197, 206, 212, 220 and Teruel 190–91 House of Trastámara 207, 208, 210, 216 Union of Liberties 191, 203 union with Barcelona 170–71, 174–6; see also Barcelona and Valencia 176, 189–90 Aragon, river 161 Aranjuez, Treaty of 509 Arborea 201, 206 Arcola, Battle of 501 Arelate (Arles) 20, 109 Argyll 37n, 53, 65, 66 Arianism 16, 20, 30, 93, 98–9 Ariège 157 Aristotle 729 Aristra, Inigo 155 Arius of Alexandria 16n Arles 104, 116, 119, 122 Arelate 20, 109 Kingdom of (Kingdom of the Two Burgundies) 115–19, 116 Armagnacs 131 Armenia 722 Armenian Church 463 Arnau de Grub, St 182 Arnaut Catalan 172 Arpitan 120 Arpitania 121 Art, son of Conn 47 Arthgal, king 69–70 Arthur, duke of Connaught 562 Arthur, king 54 Arthur, prince, of Connaught and Strathearn 562, 563 Arthurian legend 54–55, 56 Arvernis (Clermont) 20 Asad, Muhammad (Leopold Weiss) 478 Ascania, House of 344 Ascendancy, Protestant 650, 660, 667, 679 Asimov, Isaac 632–3 Aster, Operation 714 Asti 407 Asymmetric Threats Contingency Alliance (ATCA) 697 Ataulf, the ‘Noble Wolf’ 17–18 ATCA (Asymmetric Threats Contingency Alliance) 697 Athanasius of Brest, St 277 Athelstan 72, 73, 74 Athens 196 Atholl 65 Atlakvida 94 Attila (Atli) 94, 103 Auberge d’Aragon 220 Auerstadt 521 Augsberger, Franz 713 August II the Strong 283, 364 August III 283, 284 August Wilhelm of Prussia 568 Augustine of Hippo, St 730 Augustodunum (Autun) 95 Augustus Caesar 314 Aukštota 248 Aurausion (Orange) 125 Auschwitz 478, 479 Austerlitz 521 Austria/Austrians and France 451–2, 500–501, 505, 508–9, 516 and Galicia 289, 292, 295, 449–50, 451–3, 455–6, 470, 473–5, 474; see also Galicia Habsburgs see Habsburgs and Italy 425, 500–501 and Montenegro 597–9 and Napoleon I 500–501 and Poland 286 and Serbia 597–9 Vienna see Vienna/Viennese Austria-Hungary 470, 472 Carpatho-Ukraine see Carpatho-Ukraine collapse of Empire 599, 600, 733–4; Treaty of St Germain 625 Austrian Netherlands 141 Avenio (Avignon) 95 Avignon 104, 125, 128, 153, 205 Aouenion 95 Avitus, Eparchius 22 Avitus of Vienne 99 Azerbaijan 233, 722, 731 Azkenazy, Szymon 465 Babylon, Fall of 730 Bacciochi Levoy, Elisa Napoleone 534 Bacciochi Levoy, Maria-Anna (‘Elisa’) Bonaparte 500, 520–21, 523, 524, 527, 529 Bacciochi Levoy, Pasquale/Félix 520–21 Bağiş 313 Bagration, Operation 302 Bakiyev, Kurmanbek Saliyevich 235 Bakunin, Mikhail 730 Bałaban, Meir 465–6 Balearic islands 185, 187–9, 197–200, 202–3, 226 Balkans 214, 314, 383 Balkan Wars 594–5 Montenegro see Montenegro/Tsernagora Balmoral 83 Baltic Appeal (1979) 720 Baltic/Balts 240–42, 244, 245, 618, 702 ‘Baltic Chain’ 723 and the birth of the Grand Duchy of Litva 248–9 deportations under Soviet Great Terror 715 Estonia see Estonia inter-war Baltic States 707 Latvia see Latvia/Latvians Lithuania see Litva/Lithuania and the Mongol Horde 248, 251, 252, 260, 338 Prussia see Prussia/Borussia and the Prussians Soviet 1940 takeover of the Baltic States 301–2, 618, 710–12, 737 and the Teutonic Knights 248, 252, 253, 259 World War II 710 Baltic Tobacco Factory (BTF) 330 Baltiysk 334, 335 Bamburgh Castle 53, 56 Banach, Stefan 477–8 Bandera, Stepan 478 Baou, lords of (Les Baux) 119, 125 Bar, Montenegro 580 Barbarossa, Operation 301–2, 382, 479, 710 Barbarus, Johannes Vares 714, 717 Barbastro 166–7 Barcelona 160, 162, 170, 171, 173, 175, 183, 185–6, 200, 203, 222, 223, 224 Church Council of 181 Disputation of 184 House of 163n union with Aragon 170–71, 174–6 university 184 Usatges de Barcelona 174 Barretinas, Revolt of the 222 Bartians 338 Basle, Council of 215 Batory, Stefan 278–9 Batowski, Henryk 7 The Battle of Brunanburh 73 Battle of the Nations, Leipzig 529 Baussenque Wars 119 Baux, counts/lords of 119, 125 Bavarian Geographer (Geographus Bavarius) 337 Beatrice, princess 558 Beatrice I, countess of Burgundy 122 Béatrice de Provence 174 Beauharnais, Eugéne de 413, 521, 523, 535 Beauharnais, Joséphine de 501 Beaune 137 Beckwith, John 416 Bede 39, 42, 52, 53, 60, 64 Behan, Dominic 666 Beinnie Britt 47 Belarus/Byelorussia 231–9, 232, 249, 291, 301, 302, 303, 703; see also White Ruthenia Byelorussian National Republic (BNR) 233, 301, 738 Lukashenkism 233–5 and the Wikileaks scandal 235 Belfast 653–4 Belfast Agreement 673–5 Belgium 600, 710 Belgrade 590, 600, 602, 604, 605–6 Beli (Bili I) 61 Bellver Castle 199 Benaki Museum, Athens 320 Benedict XIII 209 Benso, Camillo, Count Cavour 417, 420–21, 423, 428, 429 Benveniste de Porta 183 Benvenuti, Pietro 527 Bera, count 171 Berber states 199 Berehaven 663 Berenguela of Barcelona 170–71, 175 Berenguer de Anglesola 182 Berenguer Ramón I El Corbat 163 Berenguer, House of 171, 175 Berlin 367, 370, 375, 379, 382 1918 revolution 599 Congress of 587–8 fall of the Berlin Wall 721, 723 Museum Island 390 Potsdam Conference 387–8 Prussian memory site 389–93 Berlusconi, Silvio 399, 437 Bernard, St 107–8 Bernard de Got 126 Berne 122 Bernhardi, Friedrich von 376–7 Bernicia (Berneich/Bryneich) 49, 53, 56, 60 Bernsteinzimmer (Amber Room) 383, 386n Berthold V, count 121–2 Bertrand, Henri Gatien 531, 533 Besalú 174, 175 Besanz/Besançon 141 Diet of Besanz 123 Vesontio 95, 118 Bevar Bornholmsk 87–8 Bianchi, M. 427 Bismarck, Otto Edward von 369, 376, 377 Black Death 128, 202, 204–5 Black, George Fraser 80 Blair, Tony 673, 680 Bloody Sunday 668 Saville Inquiry 677 Blücher, Gebhard Leberecht von 533 Blue Water, Battle of 252 Blumenthal, J.

.: The Waste Land 308 Elizabeth II 570, 665–6, 674, 678 Ełk 343 Emanuele-Filiberto, duke of Savoy 407 Embrun (Eburodunum) 95 Emeland see Varmia/Varmians Eneci see Annecy Engels, Friedrich 731 Enghien, Louis Antoine de Bourbon, duc d’ 517–18 England/the English 6, 42 Hundred Years War 128 occupation of Paris 131 and Sabaudia 406 English Defence League 683 Enrique of Castile, El Impotente 216 Eochaid map Rhun 71 Eogan II (Owain the Blind) 76 Epaon, Council of 99 Epila, Battle of 203 Erasmus of Rotterdam 135 Erbin 52 Erdoğan, Recep Tayyip 313 Ernst II, duke of Saxe-Coburg and Gotha 545, 546, 547, 555, 557, 560–61 Ernst III, duke of Saxe-Coburg-Saalfeld, later Duke Ernst I 543, 545, 547, 555, 557 Erwig (Euric/Evaric) 18, 23 Espérey, Franchet d’ 600 Estonia 689–728, 690, 709 1917 declaration of independence 704–5 1988 declaration of sovereignty 723 1991 UN recognition 723 arts 719 Committee of National Salvation 704–5 ‘cyber war’ 697–8 and democracy 707, 708–9 Estonian Soviet Socialist Republic 711–12, 714–23 exiled government in Stockholm 714, 715 expulsion of German Estonians 711 German occupation 712–14 inter-war period 707–9 Jewish extermination 713 language 689–90, 719, 720 Moscow’s 1924 attempted coup 708 national identity 699 national movement 723 and the Nazis 695, 710, 712–14 Nystadt Treaty 699 Tallinn see Tallinn Tartu Treaty 705–6 VAPSI movement 709 War of Independence 705 ‘War of Symbols’ 695–7 World War II 695, 710–15 Estonian Communist Party 714, 717 Estonian Guard Company, 4221st 715 Estonian Heritage Society 722 Estonian Lutheran Church 719 Estonian Peasant Party 709 Estrada Doctrine 617 Etruria, Kingdom of 509–38, 513 creation of 509–10 dissolution of 523–4 Florence see Florence/Florentines and France 509–10, 515, 516, 524–7, 529–33 local politics 515–16 regiments 518 see also Tuscany EU see European Union Eucharistic Congress (1932) 660 Eugène de Beauharnais 413, 521, 523, 535 Eugene of Savoy 409 Eugénie, Empress 428 Euler, Leonhard 332 Euric (Evaric/Erwig) 18, 23 European Economic Union (EEC) 666 European Union (EU) 234–5, 681, 697, 727 Commission 677 and Estonia 689, 695, 697, 725 and Montenegro 581, 582 Everest, mount 1 Evissa (Ibiza) 189 Experius, St, bishop of Toloso 20 External Relations Act (Ireland, 1936) 662, 664 Eyck, Jan van 135 Eymerich, Nicolau 205 Eynard, Jean-Gabriel 518, 535 Farouk, king 401 Fascism 430 Fauchet, Jean-Antoine, baron 524 Faucigny 402, 425, 435 Federal Republic of Yugoslavia 577, 614, 615 Fehrbellin 363 Feldman, Wilhelm 467 Felipe II (Philip II, the Prudent) 220, 221 Felipe III (Philip III, the Pious) 220 Felipe IV (Philip IV, the Great) 220 Felipe V (Philippe de Bourbon) 223 Felix V (Amadeus VIII) 406 Fenians (IRB) 644, 646, 647, 650, 651, 654 Ferdinand I, Holy Roman Emperor 219 Ferdinand I of Austria 450 Ferdinand I, of Leon and Castile, the Great 163–4 Ferdinand II, king of Aragon 210, 215, 216, 218, 219 Ferdinand II of the Two Sicilies, King ‘Bomba’ 425 Ferdinand IV, king of Naples 506, 508 Ferdinand VII of Spain 522–3 Ferdinando III of Tuscany 503, 504, 507, 508, 516, 534 Ferguson, Samuel 642 Fernando d’Antequera, Fernando I of Aragon 207–9 Fernando I of Naples, Don Ferrante 214, 218 Fernando II of Naples 214 Fernando El Católico 214, 216, 218 Fiachna of Ulster, king 56 Fianna Fáil 639, 660, 661, 677, 678 Field, Michael (Bradley and Cooper, ‘the Mikes’) 499 Filips de Goede (Philippe le Bon) 132 Filips de Stoute see Philip the Bold Fine Gael 639, 678 Finland 693, 702, 704, 710, 712 Finlay, George 317 Finnic tribes 242, 244 fitzAlan-Stewart family 79, 80 Flaochad 103 Flemish School of painting 135 Florence/Florentines 429, 493–9, 494, 512, 513–14, 521, 523, 527, 529 29e Légion de Gendarmerie de Florence 527 British colony of 499 Cosimo I de’ Medici collection 481 Franco-Neapolitan Treaty of 509 and Napoleon Bonaparte 500–510, 519–20 periods 497–8, 499 Pitti Palace 503, 504, 512, 516, 524, 525, 527, 534, 537 ‘Vélites de Florence’ 525 Florschütz, Christopher 546 Fontainebleau decree 523 Forez 118 Forgaill, Dallan 645 Formentera 189 Fortriu 61, 63, 66 Fossombroni, Vittorio, count 518, 535 Foster, Norman 389 Foster, Roy 646, 657 Fourcalquier 119 France 1797 campaigns and new republics 505 and Albania 601 and Austria 451–2, 500–501, 505, 508–9, 516 and Britain 505, 507, 516, 522 Burgundian–Armagnac civil war 131 and Catalonia 179, 199, 222 and Etruria 509–10, 515, 516, 524–7, 529–33 Franco-imperial Habsburg wars 407 Franco-Sardinian Treaty 423–5, 436 French Revolution 288, 412, 423, 642 Hundred Years War 128, 131 and Italy 508, 521; Italian campaign of 1796 500–501 Kingdom of 104, 128, 139, 141, 404–6 modern 141–2 and Napoleon I 500–510; ‘Second Polish War’ 293–4 Nice see Nice and Poland 521 and Sabaudia 404–6, 407, 412, 414, 417, 435, 436; annexation 412, 425–7, 435, 436, 501; Napoleon III 419–22, 423, 425; Nice 409, 410, 412, 421, 423–5, 426; plebiscite 423–8, 435; Treaty of Turin 423–5, 436 and Spain 506–7, 522–3; Franco-Spanish War 222–3; Treaty of Aranjuez 509 and Switzerland 517 Third Republic 435 and Tuscany 509, 525 War of the Sicilian Vespers 193 war with Aragon 210 West Francia’s rebranding as 115 World War I 379 Franche-Comté 128, 141, 142, 147 County-Palatine of Burgundy 124–5, 127–8, 130, 131, 138–41 Francis de Sales, St 407–8 Francis I, duke of Lorraine 504 Francis II, Holy Roman Emperor 450, 503 Franciszka Wiśniowiecka 264 François VI de Beauharnais 520 Fränkel, Moses 479–80 Frankish language 100 Franko, Ivan 467 Franks 24–6, 30, 97, 99, 104 Catalans see Catalonia/Catalans Franko-Burgundian society of Regnum Burgundiae 100–104 Franko-Burgundian wars 99 Franz-Ferdinand of Austria 597 Franz-Joseph I of Austria 450, 468–9, 475, 481, 559 Frauenburg (Frombork) 343 Fredegar/Fredegarius/Pseudo-Fredegarius 102–3 Frederick I, Barbarossa 120, 122, 124 Frederick I of Prussia (Frederick III Elector of Brandenburg) 364–7 Frederick II of Hohenstaufen 123, 126, 192, 339 Frederick II The Great, king of Prussia 286, 350, 369, 370 Frederick III Elector of Brandenburg (Frederick I of Prussia) 364–7 Frederico II of Sicily 195 Frederico IV of Naples 214 Fredro, Alexander 463, 466 Free Trade Zone, French–Swiss border 425, 428, 436 Freemasons 515 Fribourg 121 Friedland 521 Friedrich Josias, prince of Saxe-Coburg and Gotha 571 Friedrich von Sachsen 351 Friedrich Wilhelm, The Great Elector 358–9, 361, 362, 363, 364 Fuero d’Aragon, ‘Codex of Huesca’ 174 Gaelic language 41, 43–4, 76–7, 78, 80, 637, 638, 660 Gaelic Revival 642–3 Gaels 37n, 42, 43, 46, 53, 62, 71, 81–3 of Argyll 53–54 Picto-Gaelic fusion 37n, 63, 65–6 see also Scots Gaeltacht 38, 75, 82 Galbraith Clan 77 Galicia 289, 292, 295, 734 and the Bolsheviks 475–7 east Galicia/West Ukraine 441–9, 442, 450–51, 477, 478, 480, 481–2; Distrikt Galizien 479 Galician Diet 470–71 Jews 450, 454, 459, 461, 463, 464, 465, 467–8, 470, 472, 473, 477 Kingdom of Galicia and Lodomeria 449–81; c. 1900 454; c. 1914 in Austria-Hungary 474; afterlife (after 1918) 476–80; creation of 449; economy 457–8; education 465; end of 476; folk culture 464–5; government 469–71; humour 468–9; literature 466–8; and museums 481–9; national anthems 462; population 450, 458; religious culture 462–4; serfdom 455, 456–7, 469–70; society 455–7; suffrage 471; World War I 473–6 landscape 454–5 languages 460–61, 470 migration 458 New Galicia 452 ‘Peasant Rising’/‘Galician Slaughter’ 456 railway from Vienna to Lemberg and beyond 453, 454 and Vienna 452–3, 455–6, 734 west Galicia 450, 474, 476, 477, 480 Gallia Aquitania 17, 18–20, 24 Gallinians 338 Galloway (Galwyddel) 49, 62 Gallura 201 Galwyddel (Galloway) 49, 62 Gandolfo, Ange 524 Garci Ximenez 185 Garibaldi, Giuseppe 420, 425, 428, 429 Gastaustas (Gasztold) 262 Gasztołd, Stanisław 269 Gaul and the Burgundians see Burgundia/Burgundians and the Kingdom of Tolosa 18–31 Roman 17 Gdańsk see Danzig/Gdańsk Gebirtig, Mordechai 467–8 Gediminas 251–2, 253 Gellner, Ernest 632 Geneva (Genava) 95, 97, 104, 408, 505 Conference 604 Génévois 402, 407 Genghis Khan 248 Genoa/Genoese 199, 202, 205, 206, 210, 212, 420, 505, 518, 521 Conference 612–13 Geoffrey of Monmouth 54 Georg Wilhelm, Elector of Brandenburg 355–6, 358 George, St 169, 221 George IV 82 George V 562, 566–7, 568, 643, 654, 656, 659, 661, 662 GeorgeVI 659, 662–3 George Ballantine & Son Ltd 40 Georgia/Georgians 719, 731, 738 Gereint 52 German Historical Museum (DHM) 390 German Social Democratic Party (SPD) 561 Germany Brandenburg see Brandenburg/Brandenburgers and Britain: Anglo-German Friendship Society 568; ‘Dreadnought race’ 566; royal families 572–3; see also Saxe-Coburg and Gotha and Carpatho-Ukraine 626, 627 Coburg see Coburg and Czechoslovakia 626 East Germany 390, 721 fall of the Berlin Wall 721, 723 and Galicia 474–5; Distrikt Galizien 479 Gotha see Gotha and the idea of nation 413 inter-war 567–9 and Ireland 664 Kingdom of 123 and the Mongol Horde 338 Nazis: and Estonia 695, 710, 712–14; Holocaust 302, 479, 480; and Lithuania 301–2; and Prussia 381–8; and Sudetenland 625; World War II 301–2, 382–6, 478–9, 710, 712–14; see also Nazism and Prussia 340, 343–4, 345, 351–3, 364, 367–8, 373, 375–80, 381–8 Rosenau see Rosenau Castle and Russia 377–80, 701–2, 703–4 and Ruthenia 625 Saxony see Saxony and Slovakia 625 and the Soviet Union 301–2, 382–8, 478–9, 710, 712–14, 721; Operation Barbarossa 301–2, 382, 479, 710 Teutonic Knights see Teutonic Knights Thuringia 542 World War I 377–80, 474–5, 701, 703 World War II 301–2, 382–6, 478–9, 710, 712–14; see also Nazism Gévaudan 175 Gévaudan, Gilbert de 175 Gex 407 Ghent 136, 139 Ghibellines 192, 496 Gibbon, Edward 2, 21, 23, 26, 94, 315–17, 419 Gibica 91 Gibraltar, Straits of 205 Gierowski, Józef 7 Gieysztor, Jakub 296 Gilchrist Breatnach 77 Gildas the chronicler 57 Giovanni, duke of Gandia 215 Giric MacRath 71 Girona 153, 173, 181 Giscard d’Estaing, Valéry Marie 583 Gladstone, William 587–9, 644 Glas-gau 55 Glasgow 79, 83 Glasgow Celtic 83 glasnost 721, 722 Glycerius, emperor 97 Gobharaidh (Gowrie) 65 Godesigel 97 Gododdin, Land of 49, 53, 59 Godomar/Gundimor 96, 99 Godoy, duke of Alcudia 522 Goerdeler, Carl 381 Golden Bull (1356) 128 Golden Fleece, Order of 134–5 Gołuchowski, Agenor 470 Gonzalo de Cordoba 218 Good Friday Agreement 673–5 Gorbachev, Mikhail 720–21, 722–3, 725, 733 Gorchakov, Admiral 505–6 Göring, Hermann 381 Gotha 541, 542, 560, 561 Duchy of Saxe-Coburg and Gotha 545, 557, 559–70; see also Saxe-Coburg and Gotha Workers’ and Soldiers’ Council of 567 Gotha Ursinus G-1 biplane 561 Gothär Waggonfabrik 561 Gothic language 29 Gothic myth 350 Govan 69, 70, 78 Government of Ireland Act (1914) 645 Government of Ireland Act (1920) 653 Goya, Francisco José de 510 Gozo 191, 195, 220 Grandson in the Vaud 138 Grattan, Henry 641, 642 Gray, Thomas 6 Greece, and Aragon 191, 196, 199 Greek Catholic Church 277 Greek Catholic (Uniate) Church 237, 277, 295, 301, 463, 625 Greek Orthodoxy 245 Green Party (Ireland) 640, 678 Gregory IX, pope 340 Gregory of Tours 23, 24, 26, 100–102 Grenoble 417 Griffith, Arthur 652, 654, 655, 656, 680 Grimani Collection, Venice 481 Grodno 291, 293 Gruadenz 342 Grunau, Simon 349 Grunwald, Battle of 346–7 Guallauc 56 Guelphs 192, 496 Guifré El Pilós (Wilfred the Hairy) 175, 184, 224 Guigues d’Albon 118 Guillaume de Poitiers 172 Guillaume VIII 167 Guillem Ramón, Great Seneschal 173 Gül, Abdullah 313 Gulag 706, 714 Gulag 113 695 Gundahar 91, 93–4 Gundahar’s kingdom 91–5, 92 Gundimor/Godomar 96, 99 Gundioc/Gunderic 94–5, 96 Gundobad 96, 97 Guntram 100–102 Guotadin 49 Gusev 335–6 Gustav Adolf of Sweden, prince 569 Gustavus Adolphus of Sweden 356, 358, 569 Gvozdenović, Anto 590, 608, 611, 612 Gwynedd 49, 55, 70 gypsies 237 Haakon Sigurdsson 246 Habichtsburg/Habsburg (Hawk’s Castle) 121 Habsburgs 139, 220, 258, 270, 478, 570, 733 Franco-imperial Habsburg wars 407 and Galicia 450, 451–2, 460, 468–9 House of Habsburg-Lorraine 503, 510, 534; Ferdinando III of Habsburg-Lorraine 503, 504, 507, 508, 516, 534 and Nikola I 605 and Tuscany 503, 504, 507, 508, 510, 515, 516, 534 Hacibey (later Odessa) 261 Hadrian’s Wall 48 Hadziacz 282 Hague, Treaty of the 409 Halich 444–9 Halitsky, Danylo Romanovych 449 Hall, Radclyffe 499 Halley’s comet 215 Hamann, J.


pages: 760 words: 218,087

The Pentagon: A History by Steve Vogel

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Berlin Wall, City Beautiful movement, cuban missile crisis, East Village, Fall of the Berlin Wall, New Journalism, Norman Mailer, Ronald Reagan, Works Progress Administration

The legislation allowed the Defense Department to deposit money that would have been paid in rent to the GSA into a fund that would not only operate and maintain the Pentagon but also pay for the renovation. Cooke moved forward on a ten-year, $1 billion renovation plan. The timing turned out to be exceedingly poor. As the plans were finalized, the Cold War suddenly and inconveniently ended, and with it much of the raison d’être for an enormous American military establishment. The Soviet Union collapsed in 1991, just two years after the fall of the Berlin Wall, and the threat that the Warsaw Pact posed to Western Europe evaporated. Iraq had been forcibly ejected from Kuwait in February 1991, and the Gulf War was now seen as an aberration, perhaps the last American conventional war. A painful drawdown of the military began, with dozens of bases to close and the size of the force to shrink 25 percent by 1995. The question was soon being asked in Congress and the press: Why was the Defense Department spending $1 billion to renovate the Pentagon at a time the fighting forces were being gutted?

His coverage of the U.S. war in Afghanistan was part of a package of Washington Post stories selected as a finalist for the 2002 Pulitzer Prize. Vogel covered the September 11 terrorist attack on the Pentagon and subsequently reported in depth on the victims of the attack and the building’s reconstruction. Based overseas from 1989 through 1994 and reporting for the Post and Army Times, he covered the fall of the Berlin Wall and the first Gulf War, as well as military operations in Somalia, Rwanda, and the Balkans. His reporting has won journalism awards and resulted in many memorable stories, including Washington Post Magazine cover stories on military test pilots, police 911 operators, and emergency workers in a Washington, D.C., hospital. A 1982 graduate of the College of William and Mary, he received a master’s degree in international public policy from Johns Hopkins University’s School of Advanced International Studies in 1998.


pages: 859 words: 204,092

When China Rules the World: The End of the Western World and the Rise of the Middle Kingdom by Martin Jacques

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Admiral Zheng, Asian financial crisis, Berlin Wall, Bob Geldof, Bretton Woods, BRICs, British Empire, credit crunch, Dava Sobel, deindustrialization, Deng Xiaoping, deskilling, discovery of the americas, Doha Development Round, energy security, European colonialism, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global reserve currency, global supply chain, illegal immigration, income per capita, invention of gunpowder, James Watt: steam engine, joint-stock company, Kenneth Rogoff, land reform, land tenure, Malacca Straits, Martin Wolf, Naomi Klein, new economy, New Urbanism, one-China policy, open economy, Pearl River Delta, pension reform, price stability, purchasing power parity, reserve currency, rising living standards, Ronald Reagan, Scramble for Africa, Silicon Valley, South China Sea, sovereign wealth fund, special drawing rights, special economic zone, spinning jenny, Spread Networks laid a new fibre optics cable between New York and Chicago, the scientific method, Thomas L Friedman, trade liberalization, urban planning, Washington Consensus, Westphalian system, Xiaogang Anhui farmers, zero-sum game

The first represents the end of a momentous era, the second the beginning of what may prove to be an even more remarkable period. Given the opprobrium attaching to Communism in the West, especially after 1989, it is not surprising that this has greatly coloured Western attitudes towards the Chinese Communist Party, especially as the Tiananmen Square suppression occurred in the same year as the fall of the Berlin Wall. Indeed, following the events of 1989, the Western consensus held, quite mistakenly, that the Chinese Communist Party was also doomed to fail. Western attitudes towards China continue to be highly influenced by the fact that it is ruled by a Communist Party; the stain seems likely to persist for a long time to come, if not indefinitely. In the light of recent Chinese experience, however, Communism must be viewed in a more pluralistic manner than was previously the case: the Chinese Communist Party is very different from its Soviet equivalent and, since 1978, has pursued an entirely different strategy.

If the twentieth-century world was shaped by the developed countries, then that of the twenty-first century is likely to be moulded by the developing countries, especially the largest ones. This has significant historical implications. There have been many suggestions as to what constituted the most important event of the twentieth century: three of the most oft-cited candidates are the 1917 October Revolution, 1989 and the fall of the Berlin Wall, and 1945 and the defeat of fascism. Such choices are always influenced by contemporary circumstances; in the last decade of the last century, 1989 seemed an obvious choice, just as 1917 did in the first half of the century. As we near the end of the first decade of the new century another, rarely mentioned candidate now presents itself in the strongest possible terms. The rise of the developing world was only made possible by the end of colonialism.


pages: 580 words: 168,476

The Price of Inequality: How Today's Divided Society Endangers Our Future by Joseph E. Stiglitz

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affirmative action, Affordable Care Act / Obamacare, airline deregulation, Andrei Shleifer, banking crisis, barriers to entry, Basel III, battle of ideas, Berlin Wall, capital controls, Carmen Reinhart, Cass Sunstein, central bank independence, collapse of Lehman Brothers, collective bargaining, colonial rule, corporate governance, Credit Default Swap, Daniel Kahneman / Amos Tversky, Dava Sobel, declining real wages, deskilling, Exxon Valdez, Fall of the Berlin Wall, financial deregulation, financial innovation, Flash crash, framing effect, full employment, George Akerlof, Gini coefficient, income inequality, income per capita, indoor plumbing, inflation targeting, information asymmetry, invisible hand, jobless men, John Harrison: Longitude, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, Kenneth Arrow, Kenneth Rogoff, labour market flexibility, London Interbank Offered Rate, lone genius, low skilled workers, Marc Andreessen, Mark Zuckerberg, market bubble, market fundamentalism, mass incarceration, medical bankruptcy, microcredit, moral hazard, mortgage tax deduction, negative equity, obamacare, offshore financial centre, paper trading, Pareto efficiency, patent troll, Paul Samuelson, payday loans, price stability, profit maximization, profit motive, purchasing power parity, race to the bottom, rent-seeking, reserve currency, Richard Thaler, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, shareholder value, short selling, Silicon Valley, Simon Kuznets, spectrum auction, Steve Jobs, technology bubble, The Chicago School, The Fortune at the Bottom of the Pyramid, The Myth of the Rational Market, The Spirit Level, The Wealth of Nations by Adam Smith, too big to fail, trade liberalization, transaction costs, trickle-down economics, ultimatum game, uranium enrichment, very high income, We are the 99%, wealth creators, women in the workforce, zero-sum game

Now our creditability is gone: we are seen to have a political system in which one party tries to disenfranchise the poor, in which money buys politicians and policies that reinforce the inequalities. We should be concerned about the risk of this diminished influence. Even if things had been going better in the United States, the growth of the emerging markets would necessitate a new global order. There was just a short period, between the fall of the Berlin Wall and the collapse of Lehman Brothers, when the United States dominated in virtually every realm. Now the emerging markets are demanding a larger voice in international forums. We moved from the G-8, where the richest industrial countries tried to determine global economic policy, to the G-20, because we had to: the global recession provided the impetus, but one could not deal with global issues, like global warming or global trade, without bringing others in.

However ideas get disseminated, much of the battle is, as I have suggested, over framing; and in that battle, words are pivotal. The words we use can convey notions of fairness, legitimacy, positive feelings; or they can convey notions of divisiveness and selfishness and illegitimacy. Words also frame issues in other ways. In American parlance, “socialism” is akin to communism, and communism is the ideology we battled for sixty years, triumphing only in 1989 with the fall of the Berlin Wall. Hence, labeling anything as “socialism” is the kiss of death. America’s health care system for the aged, Medicare, is a single-payer system—the government pays the bill, but the individual gets to choose the provider. Most of the elderly love Medicare. But many are also so convinced that government can’t provide services efficiently that they believe that Medicare must be private. In the tumultuous discussion of health care reform during President Obama’s first year in office, one man was heard to say, “Keep your government hands off my Medicare.”34 The Right attacks extending the Medicare program to the rest of the population as “socialism.”


pages: 494 words: 28,046

Empire by Michael Hardt, Antonio Negri

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Berlin Wall, Bretton Woods, collective bargaining, colonial rule, conceptual framework, discovery of the americas, Dissolution of the Soviet Union, equal pay for equal work, European colonialism, Fall of the Berlin Wall, feminist movement, Francis Fukuyama: the end of history, global village, Haight Ashbury, informal economy, invention of the printing press, invisible hand, labour mobility, late capitalism, low skilled workers, mass immigration, means of production, Monroe Doctrine, New Urbanism, open borders, Peace of Westphalia, post-industrial society, postindustrial economy, Scramble for Africa, The Wealth of Nations by Adam Smith, union organizing, urban planning, William of Occam

Our point here is that all of these diverse forms of labor are in some way subject to capitalist discipline and capitalist relations of production. This fact of being within capital and sustaining capital is what defines the proletariat as a class. We need to look more concretely at the form of the struggles in which this new proletariat expresses its desires and needs. In the last half-century, and in particular in the two decades that stretched from 1968 to the fall of the Berlin Wall, the restructuring and global 53 54 THE POLITICAL CONSTITUTION OF THE PRESENT expansion of capitalist production have been accompanied by a transformation of proletarian struggles. As we said, the figure of an international cycle of struggles based on the communication and translation of the common desires of labor in revolt seems no longer to exist. The fact that the cycle as the specific form of the assemblage of struggles has vanished, however, does not simply open up to an abyss.

‘‘Problem: where are the barbarians of the twentieth century? Obviously they will come into view and consolidate themselves only after tremendous socialist crises.’’ 8 We cannot say exactly what Nietzsche foresaw in his lucid delirium, but indeed what recent event could be a stronger example of the power of desertion and exodus, the power of the nomad horde, 213 214 INTERMEZZO than the fall of the Berlin Wall and the collapse of the entire Soviet bloc? In the desertion from ‘‘socialist discipline,’’ savage mobility and mass migration contributed substantially to the collapse of the system. In fact, the desertion of productive cadres disorganized and struck at the heart of the disciplinary system of the bureaucratic Soviet world. The mass exodus of highly trained workers from Eastern Europe played a central role in provoking the collapse of the Wall.9 Even though it refers to the particularities of the socialist state system, this example demonstrates that the mobility of the labor force can indeed express an open political conflict and contribute to the destruction of the regime.


pages: 924 words: 198,159

Blackwater: The Rise of the World's Most Powerful Mercenary Army by Jeremy Scahill

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air freight, anti-communist, Berlin Wall, Bernie Sanders, business climate, business intelligence, centralized clearinghouse, collective bargaining, Columbine, facts on the ground, Fall of the Berlin Wall, Naomi Klein, private military company, Project for a New American Century, Robert Bork, Ronald Reagan, school choice, school vouchers, stem cell, urban planning, zero-sum game

‘Certainly we’ve chosen to help two littoral states, Azerbaijan and Kazakhstan, but always underlying that is our own self interest.’”38 By April 2005, Rumsfeld had visited Azerbaijan, a small country of 8.5 million people, at least three times.39 The visits were secretive, and U.S. and Azerbaijani officials would only speak in generalities about what exactly Rumsfeld was doing dropping into the country so often. After Rumsfeld’s third visit, the popular daily newspaper Echo ran the headline “Rumsfeld Is Interested in Oil!”40 Indeed, the flurry of U.S.-military-related activities in Azerbaijan, including the Blackwater deployment, was timed for the launch of one of the most diplomatically controversial Western operations on former Soviet soil since the fall of the Berlin Wall: the massive eleven-hundred-mile oil pipeline that for the first time would transfer oil out of the Caspian on a route that entirely circumvented Russia and Iran—a development both Moscow and Tehran viewed as a serious U.S. incursion into their spheres. The $3.6 billion pipeline project was heavily funded by the World Bank, the U.S. Export-Import Bank, and the Overseas Private Investment Corporation, 41 and spearheaded by a consortium led by oil giant BP along with U.S. companies Unocal, ConocoPhilips, and Hess.

But if it has outside parties that are doing somewhat similar things, it gives people something to benchmark against.” Comparing the military industry to the auto industry, Prince said, “General Motors can only get better if it looks at how Toyota and Honda do. It makes them think out of the box and it gives them a vehicle to perform against.” Prince told a story of how in 1991, after the fall of the Berlin wall, he was driving down the Autobahn in Germany in a rented car. Suddenly, “a Mercedes S500 blew by me at about 140 mph. It was the latest and greatest Mercedes that was available, 300 horsepower, airbags, automatic transmissions, all the bells and whistles.” But after the West German-manufactured Mercedes passed Prince, a slow-moving Tribant—the national car of communist East Germany—changed lanes in front of the Mercedes, almost causing an accident.


pages: 740 words: 217,139

The Origins of Political Order: From Prehuman Times to the French Revolution by Francis Fukuyama

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Admiral Zheng, agricultural Revolution, Andrei Shleifer, Asian financial crisis, Ayatollah Khomeini, barriers to entry, Berlin Wall, blood diamonds, California gold rush, cognitive dissonance, colonial rule, conceptual framework, correlation does not imply causation, currency manipulation / currency intervention, demographic transition, Deng Xiaoping, double entry bookkeeping, endogenous growth, equal pay for equal work, European colonialism, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, Francisco Pizarro, Hernando de Soto, hiring and firing, invention of agriculture, invention of the printing press, Khyber Pass, labour market flexibility, land reform, land tenure, means of production, offshore financial centre, out of africa, Peace of Westphalia, principal–agent problem, RAND corporation, rent-seeking, Right to Buy, Scramble for Africa, selective serotonin reuptake inhibitor (SSRI), spice trade, Stephen Hawking, Steven Pinker, the scientific method, The Wealth of Nations by Adam Smith, Thomas L Friedman, Thomas Malthus, trade route, transaction costs, Washington Consensus, zero-sum game

In other cases, countries that seemed to be making a transition from authoritarian government got stuck in what the analyst Thomas Carothers has labeled a “gray zone,” where they were neither fully authoritarian nor meaningfully democratic.6 Many successor states to the former Soviet Union, like Kazakhstan and Uzbekistan in Central Asia, found themselves in this situation. There had been a broad assumption in the years following the fall of the Berlin Wall in 1989 that virtually all countries were transitioning to democracy and that failures of democratic practice would be overcome with the simple passage of time. Carothers pointed out that this “transition paradigm” was an unwarranted assumption and that many authoritarian elites had no interest in implementing democratic institutions that would dilute their power. A third category of concern has to do not with the failure of political systems to become or remain democratic but rather their failure to deliver the basic services that people demand from their governments.

Let’s begin with the question of the receding of the third wave and the democratic recession that has taken place around the world in the 2000s. The reasons for our disappointments in the failure of democracy to spread do not lie, I would argue, on the level of ideas at the present moment. Ideas are extremely important to political order; it is the perceived legitimacy of the government that binds populations together and makes them willing to accept its authority. The fall of the Berlin Wall marked the collapse of one of democracy’s great competitors, communism, and the rapid spread of liberal democracy as the most widely accepted form of government. This is true up to the present, where democracy, in Amartya Sen’s words, remains the “default” political condition: “While democracy is not yet universally practiced, nor indeed universally accepted, in the general climate of world opinion democratic governance has achieved the status of being taken to be generally right.”16 Very few people around the world openly profess to admire Vladimir Putin’s petronationalism, or Hugo Chávez’s “twenty-first-century socialism,” or Mahmoud Ahmadinejad’s Islamic Republic.


pages: 564 words: 182,946

The Berlin Wall: A World Divided, 1961-1989 by Frederick Taylor

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anti-communist, Berlin Wall, cuban missile crisis, facts on the ground, Fall of the Berlin Wall, German hyperinflation, land reform, mass immigration, mutually assured destruction, oil shock, open borders, Plutocrats, plutocrats, RAND corporation, Ronald Reagan, Ronald Reagan: Tear down this wall, Sinatra Doctrine, the market place, young professional, éminence grise

One of the swiftest and least bloody in history. A revolution that has, whatever Gil ScottHeron may have predicted to the contrary fifteen years before, most certainly been televised. It will be followed by the biggest, wildest street party the world has ever seen. And, perhaps inevitably, by one of the biggest hangovers, too. But that is another story. AFTERWORD THE THEFT OF HOPE THE FALL OF THE Berlin Wall, like its construction, took place in a single night. Just as on 13 August 1961, a city and a people awoke to find themselves divided, so on the morning of 10 November 1989 that division was no more. Although how many people actually woke up to this revelation is debatable, since during that night in Berlin many had not slept a wink. Joachim Trenkner, for instance. By then head of Current Affairs for the Berlin branch of the state-supported ARD television network Sender Freies Berlin (the Free Berlin Station), Trenker was in Warsaw, covering the West German Chancellor’s historic visit, when he heard the news from the Wall.

Der Spiegel, Hamburg. New York Times. Die Welt, Berlin. Online sources cited Bundeszentrale für Politische Bildung/Deurschland Radio/Zentrum für Zeithistorische Forschung Potsdam, Chronik der Mauer at http://www.chronik-der-mauer.de/ Burkhart Veigel, web-published account of student escape activities at http://www.fluchthilfe.de/ Other books and publications consulted Buckley Jr., William. The Fall of the Berlin Wall. Hoboken, 2004. Childs, David. The Fall of the GDR. Harlow, 2001. Dokumentationszentrum Berliner Mauer, Die Berliner Mauer Ausstellungskatalog. Dresden, 2002. Funder, Anna. Stasiland. London, 2003. Gaddis, John Lewis. We Now Know: Rethinking Cold War History. Oxford, 1997. Garthoff, Raymond L. A Journey through the Cold War: A Memoir of Containment and Coexistence. Washington, 2001. Glees, Anthony.


pages: 602 words: 177,874

Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations by Thomas L. Friedman

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3D printing, additive manufacturing, affirmative action, Airbnb, AltaVista, Amazon Web Services, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Berlin Wall, Bernie Sanders, bitcoin, blockchain, Bob Noyce, business process, call centre, centre right, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, corporate social responsibility, creative destruction, crowdsourcing, David Brooks, demand response, demographic dividend, demographic transition, Deng Xiaoping, Donald Trump, Erik Brynjolfsson, failed state, Fall of the Berlin Wall, Ferguson, Missouri, first square of the chessboard / second half of the chessboard, Flash crash, game design, gig economy, global supply chain, illegal immigration, immigration reform, income inequality, indoor plumbing, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of the steam engine, inventory management, Irwin Jacobs: Qualcomm, Jeff Bezos, job automation, John Markoff, John von Neumann, Khan Academy, Kickstarter, knowledge economy, knowledge worker, land tenure, linear programming, Live Aid, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, mass immigration, Maui Hawaii, Menlo Park, Mikhail Gorbachev, mutually assured destruction, pattern recognition, planetary scale, pull request, Ralph Waldo Emerson, ransomware, Ray Kurzweil, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, South China Sea, Steve Jobs, supercomputer in your pocket, TaskRabbit, Thomas L Friedman, transaction costs, Transnistria, urban decay, urban planning, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y2K, Yogi Berra, zero-sum game

At first I worked on TeleRam there, too, and eventually, in my last year or so, we got the first IBM desktops, with big floppy disks. The pace of change was starting to quicken a bit. My technology platforms were improving faster. After my tour in Jerusalem, I moved to the Washington bureau, where I served as the New York Times diplomatic correspondent, starting in 1989. I had a front-row seat traveling with Secretary of State James A. Baker III for the fall of the Berlin Wall and the end of the Cold War. On those trips we used Tandy laptops to write and file over long-distance phone lines. We reporters became experts at taking apart telephones in hotel rooms around the world to directly fix the wires to our Tandys. You always had to travel with a small screwdriver, along with your reporter’s notepad. When I shifted to covering the White House under a new president, Bill Clinton, in 1992, no one I knew had e-mail.

“For more than three decades after World War II, all four went up steadily and in almost perfect lockstep,” Brynjolfsson noted in a June 2015 interview with the Harvard Business Review. “Job growth and wage growth, in other words, kept pace with gains in output and productivity. American workers not only created more wealth but also captured a proportional share of the gains.” In hindsight, the period from World War II up to the fall of the Berlin Wall was “an incredible period of economic moderation,” argued James Manyika, one of the directors of the McKinsey Global Institute. And economic moderation drove political moderation and stability. It made inclusion and immigration easier to tolerate. Most countries were also still benefiting from improved health care and decreased child mortality, producing a demographic dividend of bulging youth populations and relatively few older people to take care of.


pages: 743 words: 201,651

Free Speech: Ten Principles for a Connected World by Timothy Garton Ash

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A Declaration of the Independence of Cyberspace, Affordable Care Act / Obamacare, Andrew Keen, Apple II, Ayatollah Khomeini, battle of ideas, Berlin Wall, bitcoin, British Empire, Cass Sunstein, Chelsea Manning, citizen journalism, Clapham omnibus, colonial rule, crowdsourcing, David Attenborough, don't be evil, Donald Davies, Douglas Engelbart, Edward Snowden, Etonian, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, Ferguson, Missouri, Filter Bubble, financial independence, Firefox, Galaxy Zoo, George Santayana, global village, index card, Internet Archive, invention of movable type, invention of writing, Jaron Lanier, jimmy wales, John Markoff, Julian Assange, Mark Zuckerberg, Marshall McLuhan, mass immigration, megacity, mutually assured destruction, national security letter, Netflix Prize, Nicholas Carr, obamacare, Peace of Westphalia, Peter Thiel, pre–internet, profit motive, RAND corporation, Ray Kurzweil, Ronald Reagan, semantic web, Silicon Valley, Simon Singh, Snapchat, social graph, Stephen Hawking, Steve Jobs, Steve Wozniak, The Death and Life of Great American Cities, The Wisdom of Crowds, Turing test, We are Anonymous. We are Legion, WikiLeaks, World Values Survey, Yom Kippur War

This book lays out an argument for, and invites a conversation about, free speech in our new cosmopolis. I start from the history of dramatic transformations—technological, commercial, cultural and political—that have occurred since the mid-twentieth century, and with particular intensity since 1989. That year saw no less than four developments that would prove seminal for free speech in the twenty-first century: the fall of the Berlin Wall, the invention of the World Wide Web, the Ayatollah Khomeini’s fatwa on Salman Rushdie and the strange survival of Communist Party rule in China. History’s horse has not stopped galloping since, and I am always conscious of Walter Raleigh’s injunction that ‘who-so-euer in writing a modern Historie, shall follow truth too neare the heeles, it may happily strike out his teeth’.4 Nonetheless, I maintain that the basic character of the challenges we face in this world of neighbours is now clear.

Or are we thinking (perhaps without fully acknowledging the thought to ourselves) that what worked for offspring of the white Western middle class will not work for people of darker skin colour and different cultural backgrounds? So far as freedom of information is concerned, the legal balancing act is mainly between our right of access to information and secrecy justified in the name of national security. Since the fall of the Berlin Wall, there has been a massive spread of laws providing for freedom of information. By 2014, more than 5 billion people in nearly 100 countries had some such law on their statute books. However, all these laws spelt out an exception for national security, and many countries also have official secrecy acts. The authoritative General Comment on Article 19 warns against using the article’s national security justification ‘to suppress or withhold from the public information of legitimate public interest’.42 Over the last 20 years, there has been a remarkable effort, led by free speech advocacy organisations, to thrash out some detailed international norms for striking this balance, and then to scrutinise national laws or proposed laws in light of them.


pages: 351 words: 96,780

Hegemony or Survival: America's Quest for Global Dominance by Noam Chomsky

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anti-communist, Berlin Wall, Bretton Woods, British Empire, capital controls, cuban missile crisis, declining real wages, Doomsday Clock, facts on the ground, Fall of the Berlin Wall, invisible hand, liberation theology, long peace, market fundamentalism, Monroe Doctrine, RAND corporation, Ronald Reagan, Search for Extraterrestrial Intelligence, Thomas L Friedman, uranium enrichment

The median male wage in 2000 was still below the 1979 level after the late-nineties boomlet, though productivity was 45 percent higher, one sign of the sharp shift toward benefits for capital that is being accelerated more radically under Bush II. The potential contributions of Eastern Europe to undermining quality of life for the majority in the West was recognized immediately after the fall of the Berlin Wall. The business press was exultant about the “green shoots in Communism’s ruins,” where “rising unemployment and pauperization of large sections of the industrial working class” meant that people were willing “to work longer hours than their pampered colleagues” in the West, at 40 percent of the wages and with few benefits. Further “green shoots” include enough repression to keep working people in line and attractive state subsidies for Western investors.


pages: 268 words: 112,708

Culture works: the political economy of culture by Richard Maxwell

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1960s counterculture, AltaVista, Apple's 1984 Super Bowl advert, barriers to entry, Berlin Wall, big-box store, business process, commoditize, corporate governance, cuban missile crisis, deindustrialization, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global village, Howard Rheingold, income inequality, informal economy, intermodal, late capitalism, Marshall McLuhan, medical malpractice, Network effects, profit maximization, Ralph Nader, refrigerator car, Ronald Reagan, Silicon Valley, structural adjustment programs, talking drums, telemarketer, the built environment, Thorstein Veblen, Unsafe at Any Speed, urban renewal, Victor Gruen, Whole Earth Catalog, women in the workforce

These included the requirement that artists receiving NEA funding sign a written pledge that they would not make anything that could be considered “obscene,” ratification of an antiobscenity law regarding the use of NEA funds, increased congressional oversight of the Endowment’s activities, autocratic power for the presidentially appointed NEA chairman to overrule the recommendations of the peer panels, and the unprecedented application of that power in chairman Frohnmeyer’s repeated refusal to fund artists and projects recommended by those peer panels (including two by well-established artists Karen Finley and Mike Kelly) on the basis that their work was simply “too political.” It could be sheer coincidence that government support for freedom of expression in the arts was withdrawn for the first time in 1989, the year the Cold War was declared to be officially over. Although it would be hard to draw a direct line of causality between the fall of the Berlin Wall and court cases regarding U.S. obscenity laws taking place in Cleveland and Washington, D.C., it certainly seems that the 1989 triumph of liberal democracy over communism raised unforeseen problems for freedom of expression in the 46 Art United States; for without the mandate to pose as an international model of freedom, the most repressive forces of U.S. society—suppressed since the McCarthy era—could once again surface.


pages: 305 words: 79,356

Drowning in Oil: BP & the Reckless Pursuit of Profit by Loren C. Steffy

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Berlin Wall, clean water, corporate governance, corporate raider, Exxon Valdez, Fall of the Berlin Wall, North Sea oil, oil rush, oil shock, peak oil, Piper Alpha, Ronald Reagan, South China Sea, sovereign wealth fund

Like Hayward and Browne before him, Dudley had been shuffled around the world by BP, with postings in the United States, Great Britain, the South China Sea, and Moscow. He became one of Browne’s trusted inner circle, a turtle. After two years in Russia, Dudley technically left BP to become chief executive of TNK-BP, a joint venture between the company and a Russian concern controlled by a group of wealthy oligarchs. John Browne had been angling for a way to push BP into Russia since soon after the fall of the Berlin Wall. The collapse 229 2 30 D R O W N I N G I N O I L of the Soviet Union created an opportunity for foreign oil companies, which saw a chance to tap Russia’s huge and underdeveloped oil reserves. The early post-Soviet years, though, were marked by widespread corruption and economic chaos, as a once centrally controlled economy tried to understand the concept of a free market. Browne’s early discussions yielded little more than a chain of BP gas stations in Moscow.


pages: 287 words: 86,919

Protocol: how control exists after decentralization by Alexander R. Galloway

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Ada Lovelace, airport security, Berlin Wall, bioinformatics, Bretton Woods, computer age, Craig Reynolds: boids flock, discovery of DNA, Donald Davies, double helix, Douglas Engelbart, Douglas Engelbart, easy for humans, difficult for computers, Fall of the Berlin Wall, Grace Hopper, Hacker Ethic, informal economy, John Conway, John Markoff, Kevin Kelly, late capitalism, linear programming, Marshall McLuhan, means of production, Menlo Park, moral panic, mutually assured destruction, Norbert Wiener, old-boy network, packet switching, phenotype, post-industrial society, profit motive, QWERTY keyboard, RAND corporation, Ray Kurzweil, RFC: Request For Comment, Richard Stallman, semantic web, SETI@home, stem cell, Steve Crocker, Steven Levy, Stewart Brand, Ted Nelson, telerobotics, the market place, theory of mind, urban planning, Vannevar Bush, Whole Earth Review, working poor

Further to these many theoretical interventions—Foucault, Deleuze, Kittler, Mandel, Castells, Jameson, Hardt and Negri—are many dates that roughly confirm my periodization: the discovery of DNA in 1953; the economic crisis in the West during the 1970s epitomized by President Richard Nixon’s decoupling of the U.S. dollar from the gold standard on August 17, 1971 (and thus the symbolic evaporation of the Bretton Woods agreement); Charles Jencks’s claim that modern architecture ended on July 15, 1972, at 3:32 P.M.; the ARPAnet’s mandatory rollover to TCP/IP on January 1, 1983; the fall of the Berlin Wall in 1989; the crashing of AT&T’s long-distance 46. Hardt and Negri, Empire, p. 330. 47. Hardt and Negri, Empire, p. 199. 48. Hardt and Negri, Empire, p. 200. 49. Hardt and Negri, Empire, p. 138. Introduction 26 Table 1 Periodization Map Period Machine Dates Diagram Manager Sovereign society Simple mechanical machines March 2, 1757 (Foucault) Centralization Hierarchy Disciplinary society Thermodynamic machines May 24, 1844 (telegraph); 1942 (Manhattan Project) Decentralization Bureaucracy Control society Cybernetic machines, February 28, 1953 (Watson and Distribution computers Crick); January 1, 1983 (TCP/IP) Protocol telephone switches on January 15, 1990; the start of the Gulf War on January 17, 1991.50 These dates, plus the many periodization theories mentioned earlier, map together as shown in table 1.


pages: 381 words: 101,559

Currency Wars: The Making of the Next Gobal Crisis by James Rickards

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Asian financial crisis, bank run, Benoit Mandelbrot, Berlin Wall, Big bang: deregulation of the City of London, Black Swan, borderless world, Bretton Woods, BRICs, British Empire, business climate, capital controls, Carmen Reinhart, Cass Sunstein, collateralized debt obligation, complexity theory, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, Daniel Kahneman / Amos Tversky, Deng Xiaoping, diversification, diversified portfolio, Fall of the Berlin Wall, family office, financial innovation, floating exchange rates, full employment, game design, German hyperinflation, Gini coefficient, global rebalancing, global reserve currency, high net worth, income inequality, interest rate derivative, John Meriwether, Kenneth Rogoff, labour mobility, laissez-faire capitalism, liquidity trap, Long Term Capital Management, mandelbrot fractal, margin call, market bubble, Mexican peso crisis / tequila crisis, money market fund, money: store of value / unit of account / medium of exchange, Myron Scholes, Network effects, New Journalism, Nixon shock, offshore financial centre, oil shock, one-China policy, open economy, paradox of thrift, Paul Samuelson, price mechanism, price stability, private sector deleveraging, quantitative easing, race to the bottom, RAND corporation, rent-seeking, reserve currency, Ronald Reagan, sovereign wealth fund, special drawing rights, special economic zone, The Myth of the Rational Market, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, time value of money, too big to fail, value at risk, War on Poverty, Washington Consensus, zero-sum game

This world is conditioned by the triumph of globalization, the rise of state capitalism and the persistence of terror. Financial warfare is one form of unrestricted warfare, the preferred method of those with inferior weapons but greater cunning. Globalization Globalization has been emerging since the 1960s but did not gain its name and widespread recognition until the 1990s, shortly after the fall of the Berlin Wall. Multinational corporations had existed for decades, but the new global corporation was different. A multinational corporation had its roots and principal operations in one country but operated extensively abroad through branches and affiliates. It might have a presence in many countries, but it tended to keep the distinct national identity of its home country wherever it operated. The new global corporation was just that—global.


pages: 389 words: 98,487

The Undercover Economist: Exposing Why the Rich Are Rich, the Poor Are Poor, and Why You Can Never Buy a Decent Used Car by Tim Harford

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Albert Einstein, barriers to entry, Berlin Wall, collective bargaining, congestion charging, Corn Laws, David Ricardo: comparative advantage, decarbonisation, Deng Xiaoping, Fall of the Berlin Wall, George Akerlof, information asymmetry, invention of movable type, John Nash: game theory, John von Neumann, Kenneth Arrow, market design, Martin Wolf, moral hazard, new economy, Pearl River Delta, price discrimination, Productivity paradox, race to the bottom, random walk, rent-seeking, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, sealed-bid auction, second-price auction, second-price sealed-bid, Shenzhen was a fishing village, special economic zone, spectrum auction, The Market for Lemons, Thomas Malthus, trade liberalization, Vickrey auction

As we know, under free trade, both Chinese and American workers can quit work earlier than they could under restricted trade, having produced the same amount as before. The commonsense answer based on practical experience is also no: compare North Korea with South Korea, or Austria with Hungary. To take a very rough guide to how much better it is to have an open, liberal economy than a closed one, simply note that in 1990, just after the fall of the Berlin wall, the average Austrian was between two and six times richer than the average Hungarian (depending on how you measure it). The average South Korean is wealthy while the average North Korean is starving. North Korea is so isolated that it’s hard to get any measurement of quite how poor the country is. Trade barriers will always cause more harm than good, not just to the country against which the barrier is erected but also the country that erects the barriers.


pages: 350 words: 109,220

In FED We Trust: Ben Bernanke's War on the Great Panic by David Wessel

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Asian financial crisis, asset-backed security, bank run, banking crisis, banks create money, Berlin Wall, Black Swan, break the buck, central bank independence, credit crunch, Credit Default Swap, crony capitalism, debt deflation, Fall of the Berlin Wall, financial innovation, financial intermediation, fixed income, full employment, George Akerlof, housing crisis, inflation targeting, information asymmetry, London Interbank Offered Rate, Long Term Capital Management, market bubble, money market fund, moral hazard, mortgage debt, new economy, Northern Rock, price stability, quantitative easing, Robert Shiller, Robert Shiller, Ronald Reagan, Saturday Night Live, savings glut, Socratic dialogue, too big to fail

After he retired as chairman of the Fed, Greenspan kept laughing — all the way to the bank. With the help of Washington’s superagent (and lawyer) Robert Barnett, Greenspan landed a reported $8.5 million advance for his memoirs. The book, The Age of Turbulence, hit the bookstores in the fall of 2007, a year and a half after he retired, just as the Great Panic was getting under way. The title was apt for a book that looked back to the 1987 crash, the 1989 fall of the Berlin Wall, two U.S. wars with Iraq, the September 11 attacks, and the emergence of China and India as economic powers. But Greenspan had no idea how much more turbulence lurked just over the horizon, nor how his then sterling reputation would suffer — fairly and unfairly — in the aftermath. WHAT DID HE KNOW? AND WHEN DID HE KNOW IT? The causes of the Great Panic are many, the list of culprits long.


pages: 289 words: 99,936

Digital Dead End: Fighting for Social Justice in the Information Age by Virginia Eubanks

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affirmative action, Berlin Wall, call centre, cognitive dissonance, creative destruction, desegregation, Fall of the Berlin Wall, future of work, game design, global village, index card, informal economy, invisible hand, Kevin Kelly, knowledge economy, labor-force participation, labour market flexibility, low-wage service sector, microcredit, new economy, post-industrial society, race to the bottom, rent control, Shoshana Zuboff, Silicon Valley, South of Market, San Francisco, telemarketer, Thomas L Friedman, trickle-down economics, union organizing, urban planning, web application, white flight, women in the workforce, working poor

He writes, “Change, even in its shocking forms, is rapid difference. Flux, on the other hand, is more like the Hindu god Shiva, a creative force of destruction and genesis. Flux topples the incumbent and creates a platform for more innovation and birth” (10). Thomas L. Friedman makes a similar argument in his 2005 bestseller, The World Is Flat, explaining that digital connectivity produced rapid changes in the last two decades—including the fall of the Berlin Wall, the invention of the Netscape Web browser, and employment practices such as outsourcing and off-shoring—that act as flattening and leveling forces, creating broad-based equity across the globe. He writes, “[F]lattening forces are empowering more and more individuals today to reach farther, faster, deeper, and cheaper than ever before, and this is equalizing power—and equalizing opportunity, by giving so many more people the tools and ability to connect, compete, and collaborate” (x).


pages: 290 words: 87,084

Branded Beauty by Mark Tungate

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augmented reality, Berlin Wall, call centre, corporate social responsibility, double helix, East Village, Fall of the Berlin Wall, Frank Gehry, haute couture, invention of the printing press, joint-stock company, liberal capitalism, placebo effect, Ray Kurzweil, Silicon Valley, stem cell

But ‘the Frydman affair’, as the French press called it, was no doubt an instructive experience for the L’Oréal group’s new boss, Lindsay Owen-Jones. MAYBE HE WAS BORN WITH IT The appointment of Owen-Jones as president and CEO in 1988 was a symbol of L’Oréal’s desire to become a global player. He certainly had little truck with the idea – still ingrained in the company’s culture – that L’Oréal was primarily a hair care business. On his watch, it was to become one of the first Western businesses to enter Eastern Europe after the fall of the Berlin Wall. It expanded throughout Asia, setting its sights on China well before many of its competitors. Above all, it conquered the United States, taking full control of Cosmair and acquiring iconic American brands, which it then marketed around the world. In the history of L’Oréal, there is definitely a before and after Lindsay Owen-Jones. A Welshman, Owen-Jones joined L’Oréal in 1962 after studying literature at Oxford and management at INSEAD, a respected business school outside Paris.


pages: 459 words: 103,153

Adapt: Why Success Always Starts With Failure by Tim Harford

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Andrew Wiles, banking crisis, Basel III, Berlin Wall, Bernie Madoff, Black Swan, car-free, carbon footprint, Cass Sunstein, charter city, Clayton Christensen, clean water, cloud computing, cognitive dissonance, complexity theory, corporate governance, correlation does not imply causation, creative destruction, credit crunch, Credit Default Swap, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, Dava Sobel, Deep Water Horizon, Deng Xiaoping, double entry bookkeeping, Edmond Halley, en.wikipedia.org, Erik Brynjolfsson, experimental subject, Fall of the Berlin Wall, Fermat's Last Theorem, Firefox, food miles, Gerolamo Cardano, global supply chain, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, Jane Jacobs, Jarndyce and Jarndyce, Jarndyce and Jarndyce, John Harrison: Longitude, knowledge worker, loose coupling, Martin Wolf, mass immigration, Menlo Park, Mikhail Gorbachev, mutually assured destruction, Netflix Prize, New Urbanism, Nick Leeson, PageRank, Piper Alpha, profit motive, Richard Florida, Richard Thaler, rolodex, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, South China Sea, special economic zone, spectrum auction, Steve Jobs, supply-chain management, the market place, The Wisdom of Crowds, too big to fail, trade route, Tyler Cowen: Great Stagnation, web application, X Prize, zero-sum game

Anyone who tried to object to looming technological disasters and to suggest alternatives was denounced as a ‘wrecker’. Palchinsky’s secret execution was unusual – perhaps because, stubborn to the end, he refused to recant. His persecution was not. The Soviet Bloc began to fall apart in the late 1980s, punctuated with famous events such as the victory of the newly legalised Solidarity movement in the Polish elections of June 1989, and the fall of the Berlin Wall in November of that year. In the heart of the iet Union itself, a momentous but less famous revolt was also taking place: the first major strike in Soviet history. In July 1989, a quarter of a million coal miners walked away from their jobs. Part of the protest was about grotesquely dangerous conditions: the death rate for Soviet miners was fifteen to twenty times higher than it was for their American equivalents, with the local pits claiming the lives of over fifty men every month.


pages: 398 words: 108,026

The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen R. Covey

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agricultural Revolution, Albert Einstein, Berlin Wall, British Empire, Fall of the Berlin Wall, financial independence, knowledge worker, the map is not the territory, Thomas Kuhn: the structure of scientific revolutions, zero-sum game

But you see, as I say in the opening chapter of this new book, the world has profoundly changed since The 7 Habits of Highly Effective People was published in 1989. The challenges and complexity we face in our personal lives and relationships, in our families, in our professional lives, and in our organizations are of a different order of magnitude. In fact, many mark 1989--the year we witnessed the fall of the Berlin Wall--as the beginning of the Information Age, the birth of a new reality, a sea change of incredible significance ... truly a new era. Being highly effective as individuals and organizations is no longer optional in today's world--it's the price of entry to the playing field. But surviving, thriving, innovating, excelling and leading in this new reality will require us to build on and reach beyond effectiveness.


pages: 262 words: 83,548

The End of Growth by Jeff Rubin

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Ayatollah Khomeini, Bakken shale, banking crisis, Berlin Wall, British Empire, call centre, carbon footprint, collateralized debt obligation, collective bargaining, Credit Default Swap, credit default swaps / collateralized debt obligations, decarbonisation, deglobalization, energy security, eurozone crisis, Exxon Valdez, Fall of the Berlin Wall, fiat currency, flex fuel, full employment, ghettoisation, global supply chain, Hans Island, happiness index / gross national happiness, housing crisis, hydraulic fracturing, illegal immigration, income per capita, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, labour mobility, McMansion, Monroe Doctrine, moral hazard, new economy, Occupy movement, oil shale / tar sands, oil shock, peak oil, Ponzi scheme, quantitative easing, race to the bottom, reserve currency, Ronald Reagan, South China Sea, sovereign wealth fund, The Chicago School, The Death and Life of Great American Cities, Thomas Malthus, Thorstein Veblen, too big to fail, uranium enrichment, urban planning, urban sprawl, women in the workforce, working poor, Yom Kippur War, zero-sum game

A mutiny on board the Potemkin, made famous by an eponymous silent film, was a key event in the Russian uprising of 1905, a precursor to the 1917 revolution that overthrew Czar Nicholas II and ushered in the Soviet Union. If you visited the Black Sea Shipyard in the mid-1990s, you would have come across the rusting remains of the Varyag. When shipbuilders laid down the keel for the Varyag in 1985, the massive steel hulk was to become the Soviet navy’s second Kuznetsov-class aircraft carrier. But that was before the fall of the Berlin Wall. Construction of the Varyag halted in 1992, after the Soviet navy stopped making payments to the shipyard. Following the breakup of the Soviet Union, ownership of the Varyag was transferred to Ukraine. Instead of becoming the pride of the fleet, the Varyag, which was 70 percent complete, was stripped of her engines, electronics and rudder, and left to rust. Originally projected to cost $2.4 billion, the ship was put up for auction in 1998 and sold for the bargain-basement price of $20 million.


pages: 339 words: 105,938

The Skeptical Economist: Revealing the Ethics Inside Economics by Jonathan Aldred

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airport security, Berlin Wall, carbon footprint, citizen journalism, clean water, cognitive dissonance, congestion charging, correlation does not imply causation, Diane Coyle, endogenous growth, experimental subject, Fall of the Berlin Wall, first-past-the-post, framing effect, greed is good, happiness index / gross national happiness, Intergovernmental Panel on Climate Change (IPCC), invisible hand, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, labour market flexibility, laissez-faire capitalism, libertarian paternalism, new economy, Pareto efficiency, pension reform, positional goods, Ralph Waldo Emerson, RAND corporation, risk tolerance, school choice, spectrum auction, Thomas Bayes, trade liberalization, ultimatum game

For readers of the more specialist economics and business press, rejecting proposals on the grounds that they are ‘suboptimal’, ‘time-inconsistent’, or lack ‘incentive-compatibility’, has also become fashionable. And as a last resort there is always the plain but vacuous condemnation ‘uneconomic’. Veto economics serves to protect the economic orthodoxy. In some ways the orthodoxy has served us, in rich economies, quite well. For a brief period after the fall of the Berlin Wall, some even talked of ‘The End of History’. Our economic problems were solved, and something called ‘The New Economy’ had arrived, promising endless prosperity - or at least an endlessly rising stock market. Although these fantasies are now largely forgotten, a more humble but still confidently optimistic orthodoxy prevails. The orthodoxy says that the role of governments is to maximize economic growth by providing a stable economic environment of low inflation and generally moderate levels of unemployment.


pages: 385 words: 111,807

A Pelican Introduction Economics: A User's Guide by Ha-Joon Chang

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Affordable Care Act / Obamacare, Albert Einstein, Asian financial crisis, asset-backed security, bank run, banking crisis, banks create money, Berlin Wall, bilateral investment treaty, borderless world, Bretton Woods, British Empire, call centre, capital controls, central bank independence, collateralized debt obligation, colonial rule, Corn Laws, corporate governance, corporate raider, creative destruction, Credit Default Swap, credit default swaps / collateralized debt obligations, David Ricardo: comparative advantage, deindustrialization, discovery of the americas, Eugene Fama: efficient market hypothesis, eurozone crisis, experimental economics, Fall of the Berlin Wall, falling living standards, financial deregulation, financial innovation, Francis Fukuyama: the end of history, Frederick Winslow Taylor, full employment, George Akerlof, Gini coefficient, global value chain, Goldman Sachs: Vampire Squid, Gordon Gekko, greed is good, Gunnar Myrdal, Haber-Bosch Process, happiness index / gross national happiness, high net worth, income inequality, income per capita, information asymmetry, intangible asset, interchangeable parts, interest rate swap, inventory management, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, joint-stock company, joint-stock limited liability company, Joseph Schumpeter, knowledge economy, laissez-faire capitalism, land reform, liberation theology, manufacturing employment, Mark Zuckerberg, market clearing, market fundamentalism, Martin Wolf, means of production, Mexican peso crisis / tequila crisis, Northern Rock, obamacare, offshore financial centre, oil shock, open borders, Pareto efficiency, Paul Samuelson, post-industrial society, precariat, principal–agent problem, profit maximization, profit motive, purchasing power parity, quantitative easing, road to serfdom, Robert Shiller, Robert Shiller, Ronald Coase, Ronald Reagan, savings glut, Scramble for Africa, shareholder value, Silicon Valley, Simon Kuznets, sovereign wealth fund, spinning jenny, structural adjustment programs, The Great Moderation, The Market for Lemons, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, trade liberalization, transaction costs, transfer pricing, trickle-down economics, Vilfredo Pareto, Washington Consensus, working-age population, World Values Survey

There were, of course, areas like space and arms technologies where they were leading the world (after all, in 1957 the Soviet Union put the first ever man in space), thanks to the disproportionate amount of resources poured into them. However, when it became evident that it could only offer its citizens second-rate consumer products – as symbolized by Trabant, the East German car with plastic body, which quickly became a museum piece after the fall of the Berlin Wall – the citizens revolted. In the next decade or so, the socialist countries in Eastern Europe made a headlong dash to transform themselves (back) into capitalist ones. Many thought that the ‘transition’ could be made quickly. Surely, it was just a matter of privatizing SOEs and reintroducing the market system, which is after all one of the most ‘natural’ human institutions? Others added that the transition had to be made quickly, in order not to give time to the old ruling elite to regroup itself and resist change.


pages: 357 words: 99,684

Why It's Still Kicking Off Everywhere: The New Global Revolutions by Paul Mason

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back-to-the-land, balance sheet recession, bank run, banking crisis, Berlin Wall, capital controls, centre right, citizen journalism, collapse of Lehman Brothers, collective bargaining, creative destruction, credit crunch, Credit Default Swap, currency manipulation / currency intervention, currency peg, eurozone crisis, Fall of the Berlin Wall, floating exchange rates, Francis Fukuyama: the end of history, full employment, ghettoisation, illegal immigration, informal economy, land tenure, low skilled workers, mass immigration, means of production, megacity, Mohammed Bouazizi, Naomi Klein, Network effects, New Journalism, Occupy movement, price stability, quantitative easing, race to the bottom, rising living standards, short selling, Slavoj Žižek, Stewart Brand, strikebreaker, union organizing, We are the 99%, Whole Earth Catalog, WikiLeaks, Winter of Discontent, women in the workforce, working poor, working-age population, young professional

The Social Roots of the New Unrest If the Arab Spring had happened in isolation, it might have been categorized as a belated aftershock of 1989; if the student unrest had been part of the normal cycle of youth revolt, it could have been quickly forgotten. But as the momentum gathered, from Iran to Santa Cruz, to London, Athens and Cairo, the events carried too much that was new in them to ignore. The media began a frantic search for parallels. Nigel Inkster, former director of operations for Britain’s Secret Intelligence Service, told me: ‘It’s a revolutionary wave, like 1848.’ Others found analogies with 1968 or the fall of the Berlin Wall in 1989. In late January 2011 I sat with veteran reporters in the newsroom of a major TV network and discussed whether this was Egypt’s 1905 or its 1917. As I will argue, there are strong parallels—above all with 1848, and with the wave of discontent that preceded 1914. But there is something in the air that defies historical parallels: something new to do with technology, behaviour and popular culture.


pages: 385 words: 101,761

Creative Intelligence: Harnessing the Power to Create, Connect, and Inspire by Bruce Nussbaum

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3D printing, Airbnb, Albert Einstein, Berlin Wall, Black Swan, Chuck Templeton: OpenTable, clean water, collapse of Lehman Brothers, creative destruction, Credit Default Swap, crony capitalism, crowdsourcing, Danny Hillis, declining real wages, demographic dividend, Elon Musk, en.wikipedia.org, Eugene Fama: efficient market hypothesis, Fall of the Berlin Wall, follow your passion, game design, housing crisis, Hyman Minsky, industrial robot, invisible hand, James Dyson, Jane Jacobs, Jeff Bezos, jimmy wales, John Gruber, John Markoff, Joseph Schumpeter, Kickstarter, lone genius, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Martin Wolf, new economy, Paul Graham, Peter Thiel, QR code, race to the bottom, reshoring, Richard Florida, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, Steve Ballmer, Steve Jobs, Steve Wozniak, supply-chain management, Tesla Model S, The Chicago School, The Design of Experiments, the High Line, The Myth of the Rational Market, thinkpad, Tim Cook: Apple, too big to fail, tulip mania, We are the 99%, Y Combinator, young professional, Zipcar

Instagram users play with filters to “hack” their photos, to make them different and more interesting (and to share them as well). There are even “bio-hackers” who buy machines to copy DNA and attempt to hack them into new life-forms. A major driving force of the new maker culture is demographic. To boomers who grew up during the Cold War, with half the world closed off to them behind the Iron Curtain, the fall of the Berlin Wall and the opening of Eastern Europe and China held so much promise. Globalization was exciting for consumers eager for a taste of the wider world, and for corporations who saw an expanding global marketplace as a strategy for growth. Generation Y, on the other hand, has seen the negative effects of globalization—the uncertainty of throwing in your lot with a big corporation that has no loyalty to you, the way outsourcing has made it harder for them to get jobs and advance careers, the inequality of the haves and have-nots—and they have begun to innovate a different path.


pages: 278 words: 93,540

The Full Catastrophe: Travels Among the New Greek Ruins by James Angelos

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bank run, Berlin Wall, centre right, death of newspapers, Fall of the Berlin Wall, ghettoisation, illegal immigration, income inequality, moral hazard, Plutocrats, plutocrats, urban planning

The German foreign secretary sent a letter to the Greek ambassador saying the language of the agreement meant that Greece would in the future make no further claims with regard to questions of Nazi persecution during the occupation. The Greek ambassador disagreed, however, and in his response said that Greece reserved the right to request reparations based on a future “final settlement” mentioned in the London Debt Agreement of the previous decade. The time for that final settlement ostensibly came after the fall of the Berlin Wall, with Germany’s reunification. In Greece, there were renewed demands for reparations and repayment of the forced loan. During the ’90s, Greek victims’ groups filed class-action lawsuits against Germany for atrocities carried out during the occupation. Greek courts ruled in favor of the claimants, and ordered Germany to pay damages. The German government rejected the rulings as a violation of state immunity, and warned their Greek counterparts that relations between the two nations could be severely harmed.


pages: 329 words: 93,655

Moonwalking With Einstein by Joshua Foer

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Albert Einstein, Asperger Syndrome, Berlin Wall, conceptual framework, deliberate practice, Fall of the Berlin Wall, Frank Gehry, lifelogging, mental accounting, patient HM, pattern recognition, Rubik’s Cube, speech recognition, Stephen Hawking, zero-sum game

These two different types of remembering seem to make use of different neural pathways, and rely on different regions of the brain, though both are critically dependent on the hippocampus and other structures within the medial temporal lobes. EP has lost both types of memory in equal measure, but curiously his forgetfulness extends back only for the last sixty or so years. His memories have faded along a gradient. One of the many mysteries of memory is why an amnesic like EP should be able to remember when the atomic bomb fell on Hiroshima but not the much more recent fall of the Berlin Wall. For some unknown reason, it’s the most recent memories that blur first in most amnesics, while distant memories retain their clarity. This phenomenon is known as Ribot’s Law, after the nineteenth-century French psychologist who first noted it, and it’s a pattern found also in Alzheimer’s patients. It suggests something profound: that our memories are not static. Somehow, as memories age, their complexion changes.


pages: 422 words: 89,770

Death of the Liberal Class by Chris Hedges

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1960s counterculture, Albert Einstein, Berlin Wall, call centre, clean water, collective bargaining, Columbine, corporate governance, deindustrialization, desegregation, Donald Trump, Fall of the Berlin Wall, Henry Ford's grandson gave labor union leader Walter Reuther a tour of the company’s new, automated factory…, hive mind, housing crisis, Howard Zinn, illegal immigration, Jane Jacobs, Jaron Lanier, Lao Tzu, Pearl River Delta, post scarcity, profit motive, Ralph Nader, Ronald Reagan, strikebreaker, the scientific method, The Wisdom of Crowds, Tobin tax, union organizing, Unsafe at Any Speed, Upton Sinclair, WikiLeaks, working poor, Works Progress Administration

We are witnessing not simply a defeat of the left, but its conversion and perhaps inversion.”5 The greatest sin of the liberal class, throughout the twentieth century and into the early part of this century, has been its enthusiastic collusion with the power elite to silence, ban, and blacklist rebels, iconoclasts, communists, socialists, anarchists, radical union leaders, and pacifists who once could have given Ernest Logan Bell, as well as others in the working class, the words and ideas with which to battle back against the abuses of the corporate state. The repeated “anti-Red” purges of the twentieth-century United States, during and after both World Wars, and continuously from the 1950s until the fall of the Berlin Wall in 1989, were carried out in the name of anticommunism, but in reality proved to be devastating blows to popular social movements. The old communists in the American labor movement spoke in the language of class struggle. They understood that Wall Street, along with corporations such as BP, is the enemy. They offered a broad social vision that allowed even the non-communist left to employ a vocabulary that made sense of the destructive impulses of capitalism.


pages: 376 words: 109,092

Paper Promises by Philip Coggan

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accounting loophole / creative accounting, activist fund / activist shareholder / activist investor, balance sheet recession, bank run, banking crisis, barriers to entry, Berlin Wall, Bernie Madoff, Black Swan, Bretton Woods, British Empire, call centre, capital controls, Carmen Reinhart, carried interest, Celtic Tiger, central bank independence, collapse of Lehman Brothers, collateralized debt obligation, credit crunch, Credit Default Swap, credit default swaps / collateralized debt obligations, currency manipulation / currency intervention, currency peg, debt deflation, delayed gratification, diversified portfolio, eurozone crisis, Fall of the Berlin Wall, falling living standards, fear of failure, financial innovation, financial repression, fixed income, floating exchange rates, full employment, German hyperinflation, global reserve currency, hiring and firing, Hyman Minsky, income inequality, inflation targeting, Isaac Newton, John Meriwether, joint-stock company, Kenneth Rogoff, labour market flexibility, light touch regulation, Long Term Capital Management, manufacturing employment, market bubble, market clearing, Martin Wolf, money market fund, money: store of value / unit of account / medium of exchange, moral hazard, mortgage debt, Myron Scholes, negative equity, Nick Leeson, Northern Rock, oil shale / tar sands, paradox of thrift, peak oil, pension reform, Plutocrats, plutocrats, Ponzi scheme, price stability, principal–agent problem, purchasing power parity, quantitative easing, QWERTY keyboard, railway mania, regulatory arbitrage, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Reagan, savings glut, short selling, South Sea Bubble, sovereign wealth fund, special drawing rights, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Wealth of Nations by Adam Smith, time value of money, too big to fail, trade route, tulip mania, value at risk, Washington Consensus, women in the workforce, zero-sum game

The rescue of the banks caused a great degree of cynicism, especially among those who remembered the arguments advanced back in the 1980s that ‘lame duck’ industries such as mining and steel should not be rescued, and who noticed the change of tune when the powerful banking sector was in trouble. Issues of fiscal probity also seemed to be forgotten. As Joseph Stiglitz, the Nobel prize-winning economist, remarked: ‘When the banks said they needed hundreds of billions of dollars, all worries about the size of the deficit were shunted aside.’1 Stiglitz even sees the collapse of Lehman Brothers as a moment to rival the fall of the Berlin Wall;2 in this case, it was the free market capitalist model that was undermined. To critics like Stiglitz, the US could no longer claim that its financial system was the best allocator of capital. The rival Chinese approach, with governments controlling the banks and restricting the flow of international capital, looked much more appealing to developing countries. The price paid for letting the banks roam free looked simply too great.


pages: 322 words: 84,752

Pax Technica: How the Internet of Things May Set Us Free or Lock Us Up by Philip N. Howard

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Affordable Care Act / Obamacare, Berlin Wall, bitcoin, blood diamonds, Bretton Woods, Brian Krebs, British Empire, call centre, Chelsea Manning, citizen journalism, clean water, cloud computing, corporate social responsibility, creative destruction, crowdsourcing, digital map, Edward Snowden, en.wikipedia.org, failed state, Fall of the Berlin Wall, feminist movement, Filter Bubble, Firefox, Francis Fukuyama: the end of history, Google Earth, Howard Rheingold, income inequality, informal economy, Internet of things, Julian Assange, Kibera, Kickstarter, land reform, M-Pesa, Marshall McLuhan, megacity, Mikhail Gorbachev, mobile money, Mohammed Bouazizi, national security letter, Network effects, obamacare, Occupy movement, packet switching, pension reform, prediction markets, sentiment analysis, Silicon Valley, Skype, spectrum auction, statistical model, Stuxnet, trade route, uranium enrichment, WikiLeaks, zero day

We can’t test its negation—an Arab Spring that never happened, or an Arab Spring minus one key factor that resulted in a different outcome. We don’t have enough large datasets about Arab Spring–like events to run statistical models. That doesn’t mean we shouldn’t try to learn from the real events that happened. In fact, for many in the social sciences, tracing how real events unfolded is the best way to understand political change. The richest explanations of the fall of the Berlin Wall, for example, as sociologist Steve Pfaff crafts them, come from such process tracing.2 We do, however, know enough to make some educated guesses about what will happen next. And, indeed, our experiences during the internet interregnum reveal five premises for how the internet of things will have an impact on global politics. I opened the chapter with basic statements of how device networks have had an impact on political life.


pages: 318 words: 85,824

A Brief History of Neoliberalism by David Harvey

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affirmative action, Asian financial crisis, Berlin Wall, Bretton Woods, business climate, capital controls, centre right, collective bargaining, creative destruction, crony capitalism, debt deflation, declining real wages, deglobalization, deindustrialization, Deng Xiaoping, Fall of the Berlin Wall, financial deregulation, financial intermediation, financial repression, full employment, George Gilder, Gini coefficient, global reserve currency, illegal immigration, income inequality, informal economy, labour market flexibility, land tenure, late capitalism, Long Term Capital Management, low-wage service sector, manufacturing employment, market fundamentalism, mass immigration, means of production, Mexican peso crisis / tequila crisis, Mont Pelerin Society, mortgage tax deduction, neoliberal agenda, new economy, Pearl River Delta, phenotype, Ponzi scheme, price mechanism, race to the bottom, rent-seeking, reserve currency, Ronald Reagan, Silicon Valley, special economic zone, structural adjustment programs, the built environment, The Chicago School, transaction costs, union organizing, urban renewal, urban sprawl, Washington Consensus, Winter of Discontent

Its primary objective, however, was to open up as much of the world as possible to unhindered capital flow (though always with the caveat clause of the protection of key ‘national interests’), for this was the foundation of the capacity of the US financial power as well as that of Europe and Japan, to exact tribute from the rest of the world. None of this is particularly consistent with neoliberal theory except for the emphasis on budgetary restraints and the continued fight against what by the 1990s was an almost non-existent inflation. Of course, there were always considerations of national security which would inevitably upset any attempt to apply neoliberal theory in pure terms. While the fall of the Berlin Wall and the end of the Cold War generated a seismic geopolitical shift in imperial rivalries, they did not end the sometimes deadly dance of geopolitical jockeying for power and influence between major powers on the world stage, particularly in those regions, such as the Middle East, that controlled key resources, or in regions of marked social and political instability (such as the Balkans).


pages: 407 words: 109,653

Top Dog: The Science of Winning and Losing by Po Bronson, Ashley Merryman

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Asperger Syndrome, Berlin Wall, conceptual framework, crowdsourcing, delayed gratification, deliberate practice, Edward Glaeser, experimental economics, Fall of the Berlin Wall, fear of failure, game design, industrial cluster, Jean Tirole, knowledge worker, loss aversion, Mark Zuckerberg, meta analysis, meta-analysis, Mikhail Gorbachev, phenotype, Richard Feynman, Richard Feynman, risk tolerance, school choice, selection bias, shareholder value, Silicon Valley, six sigma, Steve Jobs, zero-sum game

The innovations made by Bach and Handel led to the music of Mozart and Beethoven—and the influence of the Germans can still be heard in music written today. 3 Sadly, the innovation and competitiveness that marked the Baroque history of Cöthen and Dresden had largely vanished in the modern era. That’s because Cöthen and Dresden were part of the Soviet-run East Germany. The Western Allies had poured Marshall Plan money and development into building a vibrant West Germany, which became a world leader in innovation and growth. But in that same time, East Germany’s postwar fate was dictated by the Soviet Union. And East Germany’s hallmark was stagnation. Following the fall of the Berlin Wall in 1989, East Germany was reunited with West Germany. Instantly, the entire nation was forced to wonder: can you teach an entire people how to compete, when they’ve never competed before? For the previous 40 years, every aspect of Eastern life had been dictated by the Soviet “planned economy.” The Soviet government determined the needs of the entire Communist bloc, and it then allocated responsibility for fulfilling those needs throughout the Soviet states.

Nation-Building: Beyond Afghanistan and Iraq by Francis Fukuyama

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Berlin Wall, business climate, colonial rule, conceptual framework, en.wikipedia.org, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, Gunnar Myrdal, informal economy, land reform, microcredit, open economy, unemployed young men

The North Atlantic Treaty Organization (NATO) became a major subcontractor, running the United Nations’ two largest and most demanding peacekeeping missions. Both the United Nations and the United States experienced this surge in nation-building demand throughout the 1990s and beyond. During the first 45 years of its existence, from 1945 to 1989, the United Nations mounted a total of 13 peacekeeping operations. In the decade following the fall of the Berlin Wall, it launched 41 new such missions. During the Cold War, American military interventions had occurred on the average of once per decade, in the Dominican Republic, Lebanon, Grenada, and Panama. During the 1990s, the frequency of such American ventures increased to • 219 • • James Dobbins once every 30 months. As a candidate for president, George W. Bush criticized this trend and expressed opposition to the very concept of nationbuilding.


pages: 295 words: 89,430

Small Data: The Tiny Clues That Uncover Huge Trends by Martin Lindstrom

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autonomous vehicles, Berlin Wall, big-box store, correlation does not imply causation, Edward Snowden, Fall of the Berlin Wall, land reform, Mikhail Gorbachev, Murano, Venice glass, Richard Florida, rolodex, self-driving car, Skype, Snapchat, Steve Jobs, Steven Pinker, too big to fail, urban sprawl

Generally speaking, in the United States, a Democratic administration follows a Republican government; in the United Kingdom, Conservatives will cede a follow-up election to Labour. This unconscious reflex to redress “imbalance” affects our wardrobes, too. One generation gravitates toward form-fitting jeans and wide neckties, while the next favors looser-fitting pants and skinny ties. One wave of young men will go through their teens and twenties cleanly shaven, and the next gravitates toward stubble or a scruffy beard. Considering Russia’s history since the fall of the Berlin Wall, the issue of imbalance was one I couldn’t help thinking about when I took on a complicated assignment in one of the most remote regions of the world. My trip to the easternmost region of Russia began with a phone call I would describe as cinematic, except that the dialogue could only have been invented by a very bad screenwriter. The voice on the other end belonged to a Russian-English interpreter who was calling on behalf of his employer, a Moscow-based businessman.


pages: 285 words: 86,174

Twilight of the Elites: America After Meritocracy by Chris Hayes

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affirmative action, Affordable Care Act / Obamacare, asset-backed security, barriers to entry, Berlin Wall, Bernie Madoff, carried interest, circulation of elites, Climategate, Climatic Research Unit, collapse of Lehman Brothers, collective bargaining, creative destruction, Credit Default Swap, dark matter, David Brooks, David Graeber, deindustrialization, Fall of the Berlin Wall, financial deregulation, fixed income, full employment, George Akerlof, Gunnar Myrdal, hiring and firing, income inequality, Jane Jacobs, jimmy wales, Julian Assange, Kenneth Arrow, Mark Zuckerberg, mass affluent, mass incarceration, means of production, meta analysis, meta-analysis, money market fund, moral hazard, Naomi Klein, Nate Silver, peak oil, Plutocrats, plutocrats, Ponzi scheme, Ralph Waldo Emerson, rolodex, The Spirit Level, too big to fail, University of East Anglia, Vilfredo Pareto, We are the 99%, WikiLeaks, women in the workforce

What we are left with is confusion that arises from an ambiguity of roles: Are our regulators attempting to rein in the excesses of those they regulate or are they auditioning for a lucrative future job? Are economists who publish papers praising financial deregulation giving us an honest assessment of the facts and trends or courting extremely lucrative consulting fees from banks? In her book about the new global elite, Janine Wedel recalls visiting the newly liberated Eastern Europe after the fall of the Berlin Wall and finding the elites she met there, those at the center of building the new capitalist societies, toting an array of different business cards that represented their various roles: one for their job as a member of parliament, another for the start-up business they were running (which was making its money off government contracts), and yet another for the NGO on the board of which they sat.


pages: 361 words: 97,787

The Curse of Cash by Kenneth S Rogoff

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Andrei Shleifer, Asian financial crisis, bank run, Ben Bernanke: helicopter money, Berlin Wall, bitcoin, blockchain, Bretton Woods, capital controls, Carmen Reinhart, cashless society, central bank independence, cryptocurrency, debt deflation, distributed ledger, Edward Snowden, ethereum blockchain, eurozone crisis, Fall of the Berlin Wall, fiat currency, financial exclusion, financial intermediation, financial repression, forward guidance, frictionless, full employment, George Akerlof, German hyperinflation, illegal immigration, inflation targeting, informal economy, interest rate swap, Isaac Newton, Johann Wolfgang von Goethe, Kenneth Rogoff, labor-force participation, large denomination, liquidity trap, money market fund, money: store of value / unit of account / medium of exchange, moral hazard, moveable type in China, New Economic Geography, offshore financial centre, oil shock, open economy, payday loans, price stability, purchasing power parity, quantitative easing, RAND corporation, RFID, savings glut, secular stagnation, seigniorage, The Great Moderation, the payments system, transaction costs, unbanked and underbanked, unconventional monetary instruments, underbanked, unorthodox policies, Y2K, yield curve

Santa Monica, CA: RAND Corporation. Jost, Patrick M., and Harjit Singh Sandbu. 2000. “Hawala: The Hawala Alternative Remittance System and Its Role in Money Laundering.” Prepared by the Financial Crimes Enforcement Network of the United States Department of Treasury in cooperation with INTERPOL/FOPAC. Judson, Ruth. 2012. “Crisis and Calm: Demand for U.S. Currency at Home and Abroad from the Fall of the Berlin Wall to 2011.” Board of Governors of the Federal Reserve, International Finance Discussion Paper 2012-1058 (November). Washington, DC. Judson, Ruth, and Richard Porter. 2012. “Estimating the Volume of Counterfeit U.S. Currency in Circulation Worldwide: Data and Extrapolation.” Journal of Art Crime 2012 (8): 13–29. Kagin, Donald H. 1984. “Monetary Aspects of the Treasury Notes of the War of 1812.”


pages: 350 words: 96,803

Our Posthuman Future: Consequences of the Biotechnology Revolution by Francis Fukuyama

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Albert Einstein, Asilomar, assortative mating, Berlin Wall, bioinformatics, Columbine, demographic transition, Fall of the Berlin Wall, Flynn Effect, Francis Fukuyama: the end of history, impulse control, life extension, Menlo Park, meta analysis, meta-analysis, out of africa, Peter Singer: altruism, phenotype, presumed consent, Ray Kurzweil, Scientific racism, selective serotonin reuptake inhibitor (SSRI), sexual politics, stem cell, Steven Pinker, The Bell Curve by Richard Herrnstein and Charles Murray, Turing test

For while human behavior is plastic and variable, it is not infinitely so; at a certain point deeply rooted natural instincts and patterns of behavior reassert themselves to undermine the social engineer’s best-laid plans. Many socialist regimes abolished private property, weakened the family, and demanded that people be altruistic to mankind in general rather than to a narrower circle of friends and family. But evolution did not shape human beings in this fashion. Individuals in socialist societies resisted the new institutions at every turn, and when socialism collapsed after the fall of the Berlin Wall in 1989, older, more familiar patterns of behavior reasserted themselves everywhere. Political institutions cannot abolish either nature or nurture altogether and succeed. The history of the twentieth century was defined by two opposite horrors, the Nazi regime, which said biology was everything, and communism, which maintained that it counted for next to nothing. Liberal democracy has emerged as the only viable and legitimate political system for modern societies because it avoids either extreme, shaping politics according to historically created norms of justice while not interfering excessively with natural patterns of behavior.


pages: 326 words: 103,170

The Seventh Sense: Power, Fortune, and Survival in the Age of Networks by Joshua Cooper Ramo

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Airbnb, Albert Einstein, algorithmic trading, barriers to entry, Berlin Wall, bitcoin, British Empire, cloud computing, crowdsourcing, Danny Hillis, defense in depth, Deng Xiaoping, drone strike, Edward Snowden, Fall of the Berlin Wall, Firefox, Google Chrome, income inequality, Isaac Newton, Jeff Bezos, job automation, market bubble, Menlo Park, Metcalfe’s law, natural language processing, Network effects, Norbert Wiener, Oculus Rift, packet switching, Paul Graham, price stability, quantitative easing, RAND corporation, recommendation engine, Republic of Letters, Richard Feynman, Richard Feynman, road to serfdom, Robert Metcalfe, Sand Hill Road, secular stagnation, self-driving car, Silicon Valley, Skype, Snapchat, social web, sovereign wealth fund, Steve Jobs, Steve Wozniak, Stewart Brand, Stuxnet, superintelligent machines, technological singularity, The Coming Technological Singularity, The Wealth of Nations by Adam Smith, too big to fail, Vernor Vinge, zero day

Had they retired, only to leave the rest of us to pay their future medical bills and ogle their underfunded pensions, to cope with the manipulated political system they’d sued into existence? Or had they left a legacy of tolerance, a firming of American confidence? But anyhow, Generation X? By comparison, irrelevant: a collection of sad, passive slackers. But the great Internet companies were largely built by Generation X. The foundational experience of 1989—the fall of the Berlin Wall—bred optimism. It created, in fact, the possibility of a new exploration. Jon Postel’s idea to “be liberal in what you accept” seemed reasonable. This encouraged new links in trade and finance and friendship. Wi-Fi and TCP/IP and other advances made wiring the world possible, but the context? The two decades between the collapse of the Wall and the 2008 financial crisis had a magical aspect for a lucky few.


pages: 344 words: 93,858

The Post-American World: Release 2.0 by Fareed Zakaria

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affirmative action, agricultural Revolution, airport security, anti-communist, Asian financial crisis, battle of ideas, Berlin Wall, Bretton Woods, BRICs, British Empire, call centre, capital controls, central bank independence, centre right, collapse of Lehman Brothers, conceptual framework, Credit Default Swap, currency manipulation / currency intervention, delayed gratification, Deng Xiaoping, double entry bookkeeping, failed state, Fall of the Berlin Wall, financial innovation, global reserve currency, global supply chain, illegal immigration, interest rate derivative, Intergovernmental Panel on Climate Change (IPCC), knowledge economy, Mahatma Gandhi, Martin Wolf, mutually assured destruction, new economy, oil shock, open economy, out of africa, Parag Khanna, postindustrial economy, purchasing power parity, race to the bottom, reserve currency, Ronald Reagan, Silicon Valley, Silicon Valley startup, South China Sea, Steven Pinker, The Great Moderation, Thomas L Friedman, Thomas Malthus, trade route, Washington Consensus, working-age population, young professional, zero-sum game

This is why Alan Greenspan has described the fall of the Soviet Union as the seminal economic event of our time. Since then, despite all the unease about various liberalization and marketization plans, the general direction has not changed. As Margaret Thatcher famously put it in the years when she was reviving the British economy, “There is no alternative.” The ideological shift in economics had been building over the 1970s and 1980s even before the fall of the Berlin Wall. Conventional economic wisdom, embodied in organizations such as the International Monetary Fund and the World Bank, had become far more critical of the quasi-socialist path of countries like India. Academic experts like Jeffrey Sachs traveled around the world advising governments to liberalize, liberalize, liberalize. Graduates of Western economics programs, such as Chile’s “Chicago Boys,” went home and implemented market-friendly policies.


pages: 327 words: 88,121

The Vanishing Neighbor: The Transformation of American Community by Marc J. Dunkelman

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Affordable Care Act / Obamacare, Albert Einstein, assortative mating, Berlin Wall, big-box store, blue-collar work, Bretton Woods, Broken windows theory, call centre, clean water, cuban missile crisis, dark matter, David Brooks, delayed gratification, double helix, Downton Abbey, Edward Glaeser, Fall of the Berlin Wall, Filter Bubble, Francis Fukuyama: the end of history, George Santayana, Gini coefficient, glass ceiling, global supply chain, global village, helicopter parent, if you build it, they will come, impulse control, income inequality, invention of movable type, Jane Jacobs, John Markoff, Khyber Pass, Louis Pasteur, Marshall McLuhan, Martin Wolf, McMansion, Nate Silver, Nicholas Carr, obamacare, Occupy movement, Peter Thiel, post-industrial society, Richard Florida, rolodex, Saturday Night Live, Silicon Valley, Skype, Steve Jobs, telemarketer, The Chicago School, The Death and Life of Great American Cities, the medium is the message, Thomas L Friedman, Tyler Cowen: Great Stagnation, urban decay, urban planning, Walter Mischel, War on Poverty, women in the workforce, World Values Survey, zero-sum game

But, as we’ll see, three broad categories of changes—the technological and economic revolutions of the last sixty years, the explosion in American mobility, and the evolution of our lives at home—combined to undermine the basic building blocks of community life. Far from being disconnected, they’re all parts of the same organic whole. But before we can piece those successive changes together, we first have to break them down. No single phrase or book defined the last quarter century more famously than Thomas Friedman’s The World is Flat. As the New York Times columnist has long argued, since the fall of the Berlin Wall in 1989, a new global architecture has emerged, more interdependent and interconnected than anything before.11 And the statistics bear that out. Since roughly 1990, the global marketplace has more than doubled in size, growing to encompass roughly two billion people. International trade grew by a factor of two, and then expanded again by a third.12 And the share of American GDP driven by exports has more than doubled.13 But globalization hasn’t been confined to the economic realm: it has also driven the spread of ideas.


pages: 283 words: 85,824

The People's Platform: Taking Back Power and Culture in the Digital Age by Astra Taylor

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A Declaration of the Independence of Cyberspace, American Legislative Exchange Council, Andrew Keen, barriers to entry, Berlin Wall, big-box store, Brewster Kahle, citizen journalism, cloud computing, collateralized debt obligation, Community Supported Agriculture, conceptual framework, corporate social responsibility, creative destruction, cross-subsidies, crowdsourcing, David Brooks, digital Maoism, disintermediation, don't be evil, Donald Trump, Edward Snowden, Fall of the Berlin Wall, Filter Bubble, future of journalism, George Gilder, Google Chrome, Google Glasses, hive mind, income inequality, informal economy, Internet Archive, Internet of things, invisible hand, Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Julian Assange, Kevin Kelly, Kickstarter, knowledge worker, Mark Zuckerberg, means of production, Metcalfe’s law, Naomi Klein, Narrative Science, Network effects, new economy, New Journalism, New Urbanism, Nicholas Carr, oil rush, peer-to-peer, Peter Thiel, Plutocrats, plutocrats, pre–internet, profit motive, recommendation engine, Richard Florida, Richard Stallman, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, slashdot, Slavoj Žižek, Snapchat, social graph, Steve Jobs, Stewart Brand, technoutopianism, trade route, Whole Earth Catalog, WikiLeaks, winner-take-all economy, Works Progress Administration, young professional

With the founding of these institutions, the United States joined the rest of the developed world in providing state subsidy to creative endeavors. Direct government support of the arts petered out after the Cold War, during which fear of a Soviet planet prompted a variety of cultural outreach programs at the behest of the State Department, a concerted effort to contrast American dynamism to the drab Eastern Bloc. Since the fall of the Berlin Wall, the venture capital model has ruled supreme.10 Just as emphatically, technology is regarded as an arena that the government must not touch, the state said to be too ossified and slow to keep up with Silicon Valley’s rapid pace. The Internet, in particular, is presented as territory upon which regulation should not encroach.11 The weaknesses and hypocrisies of this libertarian fallacy aside, it is a philosophical orientation that, by holding up private enterprise and free markets as the primary drivers of innovation and progress, obscures a profound truth: the computer industry and the Internet would not exist without massive and ongoing funding from the federal government of the United States, which invested hundreds of billions of dollars over the course of many years to create it.


pages: 298 words: 95,668

Milton Friedman: A Biography by Lanny Ebenstein

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affirmative action, banking crisis, Berlin Wall, Bretton Woods, Deng Xiaoping, Fall of the Berlin Wall, fiat currency, floating exchange rates, Francis Fukuyama: the end of history, full employment, Hernando de Soto, hiring and firing, inflation targeting, invisible hand, Joseph Schumpeter, Kenneth Arrow, labour market flexibility, Lao Tzu, liquidity trap, means of production, Mont Pelerin Society, Myron Scholes, Pareto efficiency, Paul Samuelson, Ponzi scheme, price stability, rent control, road to serfdom, Robert Bork, Ronald Coase, Ronald Reagan, school choice, school vouchers, secular stagnation, Simon Kuznets, stem cell, The Chicago School, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Wealth of Nations by Adam Smith, Thorstein Veblen, zero-sum game

Interviewer: So you see the march of liberty and free markets going forward into the 21st century, not taking a detour backward in China or elsewhere? Friedman: Yes. The world as a whole has more or less embraced freedom. Socialism, in the traditional sense, meant government ownership and operation of the means of production. Outside of North Korea and a couple of other spots, no one in the world today would define socialism that way. That will never come back. The fall of the Berlin Wall did more for the progress of freedom than all of the books written by myself or Friedrich Hayek or others. Socialism today has only come to mean government extraction of income from the haves and giving it to the have-nots. It is about the transfer of income, not ownership. That is still around. Interviewer: Might the state make a comeback, though, because of a new set of realities: demographics, the environment and the combination of inequality and democratization?


pages: 316 words: 103,743

The Emperor Far Away: Travels at the Edge of China by David Eimer

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back-to-the-land, Berlin Wall, British Empire, car-free, Deng Xiaoping, Fall of the Berlin Wall, illegal immigration, mass immigration, megacity, offshore financial centre, open borders, South China Sea

Unknown thousands of China’s Koreans returned to North Korea during the Great Leap Forward, and more followed once the Cultural Revolution started. Some may have been motivated by a desire to return to their ancestral homeland. Most, though, left because until the mid-1980s North Korea was a more prosperous place than China. Propped up by China, the old Soviet Union and its allies in Eastern Europe, North Korea had access to both cheap imports and markets for its goods. The fall of the Berlin Wall in late 1989 and the demise of the USSR in 1991 brought that support to an abrupt end, just as China was opening up to the world. Around the same time, the DPRK started investing huge amounts of money in developing nuclear weapons, a further drain on its dwindling resources. Unable to pay for oil imports, North Korea’s economy collapsed and people started to go hungry. From 1992 on, a famine began to take hold in the DPRK that was as devastating as the one Mao had inflicted on the Chinese countryside during the Great Leap Forward.

Pirates and Emperors, Old and New by Chomsky, Noam

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anti-communist, Berlin Wall, collective bargaining, conceptual framework, cuban missile crisis, drone strike, Fall of the Berlin Wall, land reform, liberation theology, Mikhail Gorbachev, RAND corporation, Ronald Reagan, union organizing, urban planning

At the end of the terrible decade of the 1980s, the external deterrent to the use of force disappeared. For its victims, the collapse of Soviet tyranny was a remarkable triumph and liberation, though the victory was soon tainted by new horrors. For others, the consequences were more complex. The basic character of the post-Cold War era was revealed very quickly: more of the same, with revised pretexts and tactics. A few weeks after the fall of the Berlin Wall, the U.S. invaded Panama, killing hundreds or even thousands of people, vetoing two Security Council resolutions, and kidnapping a thug who was jailed in the U.S. for crimes that he had mostly committed while on the CIA payroll before committing the only one that mattered: disobedience. The pattern of events was familiar enough, but there were some differences. One was pointed out by Elliott Abrams, who pleaded guilty to crimes committed when he was a State Department official during the Reagan years, and has now been appointed Human Rights specialist at the National Security Council.


pages: 309 words: 86,909

The Spirit Level: Why Greater Equality Makes Societies Stronger by Richard Wilkinson; Kate Pickett

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basic income, Berlin Wall, clean water, Diane Coyle, epigenetics, experimental economics, experimental subject, Fall of the Berlin Wall, full employment, germ theory of disease, Gini coefficient, God and Mammon, impulse control, income inequality, Intergovernmental Panel on Climate Change (IPCC), knowledge economy, labor-force participation, land reform, Louis Pasteur, meta analysis, meta-analysis, Milgram experiment, moral panic, offshore financial centre, phenotype, Plutocrats, plutocrats, profit maximization, profit motive, Ralph Waldo Emerson, statistical model, The Chicago School, The Spirit Level, The Wealth of Nations by Adam Smith, Thorstein Veblen, ultimatum game, upwardly mobile, World Values Survey, zero-sum game

It has been shown that this measure of subjective social status is linked to an unhealthy pattern of fat distribution139 and to obesity140 – in other words, obesity was more strongly related to people’s subjective sense of their status than to their actual education or income. If we can observe that changes in societal income inequality are followed by changes in obesity, this would also be supportive evidence for a causal association. An example of a society that has experienced a rapid increase in inequality is post-reunification Germany. After the fall of the Berlin Wall, inequality increased in the former East Germany,141 and there is evidence from studies following people over time that this social disruption led to increases in the body mass index of children, young adults and mothers.142 Health and social policies for obesity treatment and prevention tend to focus on the individual; these policies try to educate people about the risks associated with being overweight, and try to coach them into better habits.


pages: 492 words: 70,082

Immigration worldwide: policies, practices, and trends by Uma Anand Segal, Doreen Elliott, Nazneen S. Mayadas

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affirmative action, Asian financial crisis, Berlin Wall, borderless world, British Empire, Celtic Tiger, centre right, conceptual framework, credit crunch, demographic transition, deskilling, en.wikipedia.org, European colonialism, Fall of the Berlin Wall, financial independence, full employment, global village, guest worker program, illegal immigration, immigration reform, income inequality, income per capita, informal economy, knowledge economy, labor-force participation, labour market flexibility, labour mobility, low skilled workers, mass immigration, minimum wage unemployment, moral panic, New Urbanism, open borders, phenotype, South China Sea, structural adjustment programs, trade route, transaction costs, upwardly mobile, urban planning, women in the workforce

Immigrants from Eastern Europe put into question the ‘‘southern’’ European model developed in Portugal, much more than historical immigrants from Africa or Brazil, and also more than Western European immigrants in search of sun (such as Britons and Germans) or belonging to the same cultural model (such as Spaniards). In sum, the immigration situation in Portugal highlights a serious identity crisis. It is also part of a wider crisis—that of European identity after the fall of the Berlin wall. Notes 1. The Authorization of Stay (Autorização de Permanência, or AP) was created under Law No. 27/2000 of September 8, 2000, and entered into force in 2001. It could be granted for one year (renewable until a maximum of five years) to foreign nationals with or without visas, but with at least a formal offer of employment in Portugal. The AP could be replaced, after the fifth year, by an Authorization of Residence. 2.

As can be seen from the foregoing section, some EU countries, while often benefiting from their labor, have also felt under heavy pressure from immigrants from poorer neighboring states over the past decade or so. While wars and poverty in African countries have for several decades led to immigration mainly to former colonial countries, two particular events on the European continent itself led to greater movement from the former Eastern Bloc countries, namely, the fall of the Berlin Wall (1989) and the break up of Yugoslavia in the early nineties. Thus, by the 1990s the European Union was taking a more active role in the regulation of immigration, and individual countries have since also enacted more restrictive and even repressive legislation. One of the issues facing the EU and member states concerns the conflation of debates and policy formation in relation to immigration with those related to a specific group of immigrants, that is, asylum-seekers.


pages: 441 words: 136,954

That Used to Be Us by Thomas L. Friedman, Michael Mandelbaum

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3D printing, Affordable Care Act / Obamacare, Albert Einstein, Amazon Web Services, American Society of Civil Engineers: Report Card, Andy Kessler, Ayatollah Khomeini, bank run, barriers to entry, Berlin Wall, blue-collar work, Bretton Woods, business process, call centre, carbon footprint, Carmen Reinhart, Cass Sunstein, centre right, Climatic Research Unit, cloud computing, collective bargaining, corporate social responsibility, creative destruction, Credit Default Swap, crowdsourcing, delayed gratification, energy security, Fall of the Berlin Wall, fear of failure, full employment, Google Earth, illegal immigration, immigration reform, income inequality, Intergovernmental Panel on Climate Change (IPCC), job automation, Kenneth Rogoff, knowledge economy, Lean Startup, low skilled workers, Mark Zuckerberg, market design, mass immigration, more computing power than Apollo, Network effects, obamacare, oil shock, pension reform, Report Card for America’s Infrastructure, rising living standards, Ronald Reagan, Rosa Parks, Saturday Night Live, shareholder value, Silicon Valley, Silicon Valley startup, Skype, Steve Jobs, the scientific method, Thomas L Friedman, too big to fail, University of East Anglia, WikiLeaks

Hard to believe, but 1979 was just getting started. The energy world would be substantially affected by two other political events of that year. Margaret Thatcher was elected prime minister of Great Britain on May 4, 1979. She and Ronald Reagan, who took office as president of the United States in 1981, implemented free-market-friendly economic policies that helped to pave the way for the expansion of globalization after the fall of the Berlin Wall. This increased economic activity the world over, massively increasing the number of people who could afford cars, motor scooters, electric appliances, and international travel. Less noticed but just as important, in 1979, three years after Mao Tse-tung’s death, China’s communist government permitted small farmers to raise their own crops on individual plots and to sell the surplus for their own profit.


pages: 481 words: 121,300

Why geography matters: three challenges facing America : climate change, the rise of China, and global terrorism by Harm J. De Blij

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agricultural Revolution, airport security, Anton Chekhov, Ayatollah Khomeini, Berlin Wall, British Empire, colonial exploitation, complexity theory, computer age, crony capitalism, demographic transition, Deng Xiaoping, Eratosthenes, European colonialism, F. W. de Klerk, failed state, Fall of the Berlin Wall, Francis Fukuyama: the end of history, global village, illegal immigration, Internet Archive, John Snow's cholera map, Khyber Pass, manufacturing employment, megacity, Mercator projection, out of africa, RAND corporation, risk tolerance, Ronald Reagan, South China Sea, special economic zone, Thomas Malthus, trade route, transatlantic slave trade, UNCLOS, UNCLOS

The Appalachian Mountains bear eroded witness to that pre-Pangaean time. Over the long term, therefore, think of our planet's surface as ever changing, of continents moving and the crust shaking, of oceans and seas opening and closing, of land lost by subduction and gained by eruption. And this is only one dimension of the ceaseless transformation of Earth that began 4.6 billion years ago. OCEANS PAST AND FUTURE The fall of the Berlin Wall in 1989 led to much introspection—not only political, but also philosophical and scientific—and gave rise to a spate of books signaling the onset of a new era. Their titles were often misleading, such as The End of History by Francis Fukuyama, but none more so than one by John Horgan (1996) called The End of Science, which argued that all the great questions of science had been answered and that what remained, essentially, was a filling of the gaps.


pages: 637 words: 128,673

Democracy Incorporated by Sheldon S. Wolin

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affirmative action, Berlin Wall, British Empire, centre right, collective bargaining, colonial rule, corporate governance, creative destruction, cuban missile crisis, David Ricardo: comparative advantage, dematerialisation, Donald Trump, Fall of the Berlin Wall, full employment, illegal immigration, invisible hand, mass incarceration, money market fund, mutually assured destruction, new economy, offshore financial centre, Ralph Nader, Ronald Reagan, school vouchers, single-payer health, stem cell, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Thorstein Veblen

Elitism signified a privileged claim to power on the part of those who not only manifested proven intelligence, experience, and sterling character but also, unlike the fantasy-prone masses, were “realists.”70 A whole ideology emerged to legitimate elitism: the “realists” and “neoliberals” such as Niebuhr, George Kennan, and Arthur Schlesinger, Jr. That war was “cold” only in the sense that the two antagonists did not engage each other in a shooting war. During that era, which lasted until the fall of the Berlin Wall in 1987, the United States fought two very hot wars, first in Korea, then in Vietnam. It suffered a stalemate in one and defeat in the other, both by Soviet proxies. If we add the defeat in Iraq, we might be tempted to redefine superpower as an imaginary of power that emerges from defeat unchastened, more imperious than ever. Nonetheless, with the “defeat” or collapse of the USSR and the emergence of the United States as the sole standing Superpower, the imaginary constructed after 9/11 perpetuated elements designed during the Cold War.


pages: 391 words: 22,799

To Serve God and Wal-Mart: The Making of Christian Free Enterprise by Bethany Moreton

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affirmative action, American Legislative Exchange Council, anti-communist, Berlin Wall, big-box store, Bretton Woods, Buckminster Fuller, collective bargaining, corporate personhood, creative destruction, deindustrialization, desegregation, Donald Trump, estate planning, Fall of the Berlin Wall, Frederick Winslow Taylor, George Gilder, global village, informal economy, invisible hand, liberation theology, market fundamentalism, Mont Pelerin Society, mortgage tax deduction, Naomi Klein, new economy, New Urbanism, post-industrial society, postindustrial economy, prediction markets, price anchoring, Ralph Nader, RFID, road to serfdom, Ronald Reagan, Silicon Valley, Stewart Brand, strikebreaker, The Wealth of Nations by Adam Smith, union organizing, walkable city, Washington Consensus, white flight, Whole Earth Catalog, Works Progress Administration

“But nowhere in sacred Scripture does it say that America will continue to be a dominant industrial force in the world,” he cautioned. “It will depend on how it is led and how it is managed, and that is where you come in.”128 In 1991, the reorientation became ofÂ�fiÂ�cial: “SIFE Goes Global,” proclaimed a headline in the year-Â�end review. The orÂ�gaÂ�niÂ�zaÂ�tion explicitly linked this move to the fall of the Berlin Wall, and though it mentioned the Mexican and Asian contacts in passing, the focus was on the recent converts from communism. Rogers State College, the article reported, inaugurated the new era by contacting East German colleges to offer their help in the economic transition. The result was a two-Â�week sojourn in Oklahoma by three students of the Technische Hochschule-Â� Zwickau, who “quickly became believers in our free market system.”


pages: 487 words: 147,891

McMafia: A Journey Through the Global Criminal Underworld by Misha Glenny

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anti-communist, Anton Chekhov, Berlin Wall, blood diamonds, BRICs, colonial rule, crony capitalism, Deng Xiaoping, Doha Development Round, failed state, Fall of the Berlin Wall, financial deregulation, Firefox, forensic accounting, friendly fire, glass ceiling, illegal immigration, joint-stock company, market bubble, Mikhail Gorbachev, Nick Leeson, offshore financial centre, Pearl River Delta, place-making, rising living standards, Ronald Reagan, Skype, special economic zone, Stephen Hawking, trade liberalization, trade route, Transnistria, unemployed young men, upwardly mobile

In the second half of the 1990s, there was much debate about whether the affluent countries of Western Europe could maintain their expensive welfare systems in the face of a rapidly aging population and a fatal antipathy toward labor migration into the EU. The appearance of dynamic young economies in Eastern Europe put this problem in a yet starker perspective as Poles, Czechs, Hungarians, and others proved willing to put in longer hours for less money as they sought to make up for half a century of consumer misery under Communism. Growth rates in Eastern Europe began shooting up after the fall of the Berlin Wall. Germany was busy outsourcing its industrial base throughout Poland, the Czech Republic, Slovakia, and Hungary, while the European Union accession program meant that huge sums in regional development funds were fighting poverty and assisting in the development of democratic institutions in Eastern Europe. Ordinary people still moaned about how difficult life was economically under capitalism, but after an initial dip, living standards began to pick up.


pages: 790 words: 150,875

Civilization: The West and the Rest by Niall Ferguson

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Admiral Zheng, agricultural Revolution, Albert Einstein, Andrei Shleifer, Atahualpa, Ayatollah Khomeini, Berlin Wall, BRICs, British Empire, clean water, collective bargaining, colonial rule, conceptual framework, Copley Medal, corporate governance, creative destruction, credit crunch, David Ricardo: comparative advantage, Dean Kamen, delayed gratification, Deng Xiaoping, discovery of the americas, Dissolution of the Soviet Union, European colonialism, Fall of the Berlin Wall, Francisco Pizarro, full employment, Hans Lippershey, haute couture, Hernando de Soto, income inequality, invention of movable type, invisible hand, Isaac Newton, James Hargreaves, James Watt: steam engine, John Harrison: Longitude, joint-stock company, Joseph Schumpeter, Kitchen Debate, land reform, land tenure, liberal capitalism, Louis Pasteur, Mahatma Gandhi, market bubble, Martin Wolf, mass immigration, means of production, megacity, Mikhail Gorbachev, new economy, Pearl River Delta, Pierre-Simon Laplace, probability theory / Blaise Pascal / Pierre de Fermat, profit maximization, purchasing power parity, quantitative easing, rent-seeking, reserve currency, road to serfdom, Ronald Reagan, savings glut, Scramble for Africa, Silicon Valley, South China Sea, sovereign wealth fund, special economic zone, spice trade, spinning jenny, Steve Jobs, Steven Pinker, The Great Moderation, the market place, the scientific method, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, Thomas Malthus, Thorstein Veblen, total factor productivity, trade route, transaction costs, transatlantic slave trade, transatlantic slave trade, upwardly mobile, uranium enrichment, wage slave, Washington Consensus, women in the workforce, World Values Survey

On 9 November 1989 a bemused East Berlin press corps were informed that ‘the decision [had been] taken to make it possible for all citizens to leave the country through the official border crossing points … to take effect at once’, news that prompted a flood of East Berliners to the border checkpoints. Unprepared, guards opted not to resist. By midnight all the checkpoints had been forced to open and one of the greatest parties of the century was under way, closely followed by one of its biggest shopping sprees. With the fall of the Berlin Wall, the Cold War was essentially over, though it was not until the failed Moscow coup of August 1991 and the subsequent dissolution of the Soviet Union that the Baltic states, Ukraine and Belarus, along with the three big Caucasian republics and the five ‘stans’ of Central Asia, became independent states. Few had seen it coming.* For some it was ‘the end of history’, the definitive victory of the liberal capitalist model.108 For others it was the ‘triumph of the West’, the political achievement of three charismatic leaders: Ronald Reagan, Pope John Paul II and Margaret Thatcher.109 A third view gave the credit to nationalism.


pages: 484 words: 136,735

Capitalism 4.0: The Birth of a New Economy in the Aftermath of Crisis by Anatole Kaletsky

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bank run, banking crisis, Benoit Mandelbrot, Berlin Wall, Black Swan, bonus culture, Bretton Woods, BRICs, Carmen Reinhart, cognitive dissonance, collapse of Lehman Brothers, Corn Laws, correlation does not imply causation, creative destruction, credit crunch, currency manipulation / currency intervention, David Ricardo: comparative advantage, deglobalization, Deng Xiaoping, Edward Glaeser, Eugene Fama: efficient market hypothesis, eurozone crisis, experimental economics, F. W. de Klerk, failed state, Fall of the Berlin Wall, financial deregulation, financial innovation, Financial Instability Hypothesis, floating exchange rates, full employment, George Akerlof, global rebalancing, Hyman Minsky, income inequality, information asymmetry, invisible hand, Isaac Newton, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, laissez-faire capitalism, Long Term Capital Management, mandelbrot fractal, market design, market fundamentalism, Martin Wolf, money market fund, moral hazard, mortgage debt, new economy, Northern Rock, offshore financial centre, oil shock, paradox of thrift, Pareto efficiency, Paul Samuelson, peak oil, pets.com, Ponzi scheme, post-industrial society, price stability, profit maximization, profit motive, quantitative easing, Ralph Waldo Emerson, random walk, rent-seeking, reserve currency, rising living standards, Robert Shiller, Robert Shiller, Ronald Reagan, shareholder value, short selling, South Sea Bubble, sovereign wealth fund, special drawing rights, statistical model, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, The Wealth of Nations by Adam Smith, Thomas Kuhn: the structure of scientific revolutions, too big to fail, Vilfredo Pareto, Washington Consensus, zero-sum game

A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, 222-224 and 461-494. 20 Michal Kalecki, “Political Aspects of Full Employment,” Political Quarterly 14 (1943), reprinted in Michal Kalecki, Selected Essays on the Dynamics of the Capitalist Economy. Chapter Four 1 In conversation with the author in November 2003. De Klerk makes the same point less explicitly in his autobiography, The Last Trek. See also the interview in the Financial Times, January 23, 2010, with de Klerk about his decision to lift the ban on the ANC twenty years earlier: “Encouraged by the fall of the Berlin Wall, which took away the root gevaar [red danger] or fear of a communist takeover, de Klerk was emboldened to press ahead.” 2 Interview with the author in November 2003. See “Asia Now Aspires to the Charms of a Bourgeois Life,” The Times, London, January 8, 2004. The “Hindu rate of growth” was the sarcastic description of India’s low growth rate of only 3.5 percent from 1960 to 1990, while other Asian countries were growing by 6 percent or more.


pages: 449 words: 127,440

Moscow, December 25th, 1991 by Conor O'Clery

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Anton Chekhov, Berlin Wall, central bank independence, Dissolution of the Soviet Union, Donald Trump, Doomsday Clock, Fall of the Berlin Wall, Francis Fukuyama: the end of history, haute couture, land reform, Mikhail Gorbachev, Ronald Reagan, Sinatra Doctrine, The Chicago School

Koppel and Kaplan are laughing at a misunderstanding that has just occurred in an exchange with a friendly Kremlin functionary. The official approached the Americans and wished them a Happy Christmas. With a straight face Kaplan, who is Jewish, replied, “To me you will have to say ”Happy Hanukkah.”“Why would I have to say ‘Happy Honecker’?” asked the official, puzzled. The Americans burst out laughing at the official’s assumption that Kaplan is referring to Erich Honecker, who fled to Moscow after the fall of the Berlin Wall two years earlier. The mistake is understandable. The disgraced East German leader is in the news again this morning. The seventy-nine-year-old communist hard-liner was given compassionate asylum in Moscow by Gorbachev, who privately regards him as an “asshole” but who felt he should protect an old comrade. Fearing that after Gorbachev is no longer in power, Yeltsin will send him back to Berlin, Honecker has claimed political asylum in the embassy of Chile.

The Rough Guide to Prague by Humphreys, Rob

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active transport: walking or cycling, Albert Einstein, anti-communist, Berlin Wall, centre right, clean water, Fall of the Berlin Wall, Frank Gehry, land reform, Live Aid, Mikhail Gorbachev, Peace of Westphalia, sexual politics, sustainable-tourism, trade route, upwardly mobile

There’s now no trace of tank, podium or plaque on the square (which has been renamed náměstí Kinských). You can, however, still see the tank at the Vojenské technické museum (Military Technical Museum) in Lešany, 40km or so southeast of Prague. CONTE XTS | History West German embassy in Prague. Honecker, the East German leader, was forced to resign and, by the end of October, nightly mass demonstrations were taking place on the streets of Leipzig and other German cities. The fall of the Berlin Wall on November 9 left Czechoslovakia, Romania and Albania alone on the Eastern European stage still clinging to the old truths. All eyes were now turned upon Czechoslovakia. Reformists within the KSČ began plotting an internal coup to overthrow Jakeš, in anticipation of a Soviet denunciation of the 1968 invasion. In the end, events overtook whatever plans they may have had. On Friday, November 17, a 50,000-strong peaceful demonstration organized by the official Communist youth organization was viciously attacked by the riot police.


pages: 482 words: 117,962

Exceptional People: How Migration Shaped Our World and Will Define Our Future by Ian Goldin, Geoffrey Cameron, Meera Balarajan

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Admiral Zheng, agricultural Revolution, barriers to entry, Berlin Wall, Branko Milanovic, British Empire, conceptual framework, creative destruction, demographic transition, Deng Xiaoping, endogenous growth, failed state, Fall of the Berlin Wall, Gini coefficient, global supply chain, guest worker program, illegal immigration, income inequality, income per capita, Intergovernmental Panel on Climate Change (IPCC), job automation, Joseph Schumpeter, knowledge economy, labor-force participation, labour mobility, Lao Tzu, life extension, low skilled workers, low-wage service sector, Malacca Straits, mass immigration, microcredit, Network effects, new economy, New Urbanism, old age dependency ratio, open borders, out of africa, price mechanism, purchasing power parity, Richard Florida, selection bias, Silicon Valley, Silicon Valley startup, Skype, spice trade, trade route, transaction costs, transatlantic slave trade, transatlantic slave trade, women in the workforce, working-age population

PART II PRESENT 4 Leaving Home: Migration Decisions and Processes Having reviewed 60,000 years of human migration in the part I, part II covers the period from the early 1970s to today. This has been a period of unprecedented globalization. Accelerating cross-border movements of goods, services, ideas, and capital are drawing the regions of the world into an interdependent and interconnected community. Political changes associated with the fall of the Berlin Wall and collapse of the Soviet Union, the opening up of China, and democratization in much of Africa and Latin America have been both a cause and an effect of this accelerating integration. Rapid technological progress and the development of containerization, fiber optics, and mass computing have facilitated more rapid integration, as the increasing transfer of skills and ideas has prompted further innovation.1 The rise of cross-border flows resembles the “first wave” of early globalization between 1840 and 1914 that was accompanied by mass migrations.


pages: 503 words: 131,064

Liars and Outliers: How Security Holds Society Together by Bruce Schneier

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airport security, barriers to entry, Berlin Wall, Bernie Madoff, Bernie Sanders, Brian Krebs, Broken windows theory, carried interest, Cass Sunstein, Chelsea Manning, commoditize, corporate governance, crack epidemic, credit crunch, crowdsourcing, cuban missile crisis, Daniel Kahneman / Amos Tversky, David Graeber, desegregation, don't be evil, Double Irish / Dutch Sandwich, Douglas Hofstadter, experimental economics, Fall of the Berlin Wall, financial deregulation, George Akerlof, hydraulic fracturing, impulse control, income inequality, invention of agriculture, invention of gunpowder, iterative process, Jean Tirole, John Nash: game theory, joint-stock company, Julian Assange, mass incarceration, meta analysis, meta-analysis, microcredit, moral hazard, mutually assured destruction, Nate Silver, Network effects, Nick Leeson, offshore financial centre, patent troll, phenotype, pre–internet, principal–agent problem, prisoner's dilemma, profit maximization, profit motive, race to the bottom, Ralph Waldo Emerson, RAND corporation, rent-seeking, RFID, Richard Thaler, risk tolerance, Ronald Coase, security theater, shareholder value, slashdot, statistical model, Steven Pinker, Stuxnet, technological singularity, The Market for Lemons, The Nature of the Firm, The Spirit Level, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, too big to fail, traffic fines, transaction costs, ultimatum game, UNCLOS, union organizing, Vernor Vinge, WikiLeaks, World Values Survey, Y2K, zero-sum game

Defectors steal in a society that has declared that stealing is wrong, but they also help slaves escape in a society where tolerating slavery is the norm. Defectors change as society changes; defection is in the eye of the beholder. Or, more specifically, it is in the eyes of everyone else. Someone who was a defector under the former East German government was no longer in that group after the fall of the Berlin Wall. But those who followed the societal norms of East Germany, like the Stasi, were—all of a sudden—viewed as defectors within the new united Germany. Figure 1: The Terms Used in the Book, and Their Relationships Criminals are defectors, obviously, but that answer is too facile. Everyone defects at least some of the time. It's both dynamic and situational. People can cooperate about some things and defect about others.


pages: 487 words: 139,297

Dancing in the Glory of Monsters: The Collapse of the Congo and the Great War of Africa by Jason Stearns

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Berlin Wall, business climate, clean water, colonial rule, failed state, Fall of the Berlin Wall, land tenure, Mahatma Gandhi, means of production, microcredit, technology bubble, transfer pricing, unemployed young men, working-age population, éminence grise

They have a right to eat,” he told them.21 “The amount of money we wasted on bags of corn and beans!” Mumengi remembered. “That was misguided socialism.” Lastly, we have to understand the time warp that Kabila was in. For decades, he had set his compass to the cold war divide, preaching against the neocolonial domination of Africa by the United States. To people who met him in the early days of his presidency, it was as if the fall of the Berlin Wall and the collapse of the Soviet Union had passed him by; he gave the impression of a revolutionary fossilized in the 1960s. He had come of age during the anti-western socialist rebellions that swept through Africa just after independence. The writings of Kwame Nkrumah, Mao Tsetung, Walter Rodney, and Frantz Fanon lined his bookshelf; after he took power he continued to call his associates “comrade” (although, apparently none of them was allowed to reciprocate).22 To make matters worse, Kabila was saddled with questions about the massacre of Rwandan refugees.


pages: 497 words: 143,175

Pivotal Decade: How the United States Traded Factories for Finance in the Seventies by Judith Stein

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1960s counterculture, affirmative action, airline deregulation, anti-communist, Ayatollah Khomeini, barriers to entry, Berlin Wall, blue-collar work, Bretton Woods, capital controls, centre right, collective bargaining, Credit Default Swap, crony capitalism, David Ricardo: comparative advantage, deindustrialization, desegregation, energy security, Fall of the Berlin Wall, falling living standards, feminist movement, financial deregulation, floating exchange rates, full employment, Gunnar Myrdal, income inequality, income per capita, intermodal, invisible hand, knowledge worker, laissez-faire capitalism, liberal capitalism, Long Term Capital Management, manufacturing employment, market bubble, Martin Wolf, new economy, oil shale / tar sands, oil shock, open economy, Paul Samuelson, payday loans, post-industrial society, post-oil, price mechanism, price stability, Ralph Nader, RAND corporation, reserve currency, Robert Gordon, Ronald Reagan, Simon Kuznets, strikebreaker, trade liberalization, union organizing, urban planning, urban renewal, War on Poverty, Washington Consensus, working poor, Yom Kippur War

But for the first time in twenty-eight years, the Democrats gained seats in both houses of Congress despite losing the presidency. Their margin in the Senate was 55 to 45, and in the House in was 262 to 173. Reagan had not effected a Republican realignment.54 The congressional races even demonstrated voter preference for shifting resources from defense to domestic social programs.55 FALTERING RECOVERY During the Bush years foreign policy successes initially overwhelmed a faltering economy. The fall of the Berlin Wall in 1989, the rapid ending of the Cold War, and the disintegration of the Soviet Union in 1991 satisfied. The first Gulf war, repelling Saddam Hussein’s annexation of Kuwait in 1991, demonstrated that high-tech American weapons were potent, but the glow of victory dimmed quickly. A desert triumph could not compete with industrial decline, Japanese competition, rising unemployment, and growing inequality.


pages: 320 words: 87,853

The Black Box Society: The Secret Algorithms That Control Money and Information by Frank Pasquale

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Affordable Care Act / Obamacare, algorithmic trading, Amazon Mechanical Turk, American Legislative Exchange Council, asset-backed security, Atul Gawande, bank run, barriers to entry, basic income, Berlin Wall, Bernie Madoff, Black Swan, bonus culture, Brian Krebs, call centre, Capital in the Twenty-First Century by Thomas Piketty, Chelsea Manning, Chuck Templeton: OpenTable, cloud computing, collateralized debt obligation, computerized markets, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, crowdsourcing, cryptocurrency, Debian, don't be evil, drone strike, Edward Snowden, en.wikipedia.org, Fall of the Berlin Wall, Filter Bubble, financial innovation, financial thriller, fixed income, Flash crash, full employment, Goldman Sachs: Vampire Squid, Google Earth, Hernando de Soto, High speed trading, hiring and firing, housing crisis, informal economy, information asymmetry, information retrieval, interest rate swap, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, Julian Assange, Kevin Kelly, knowledge worker, Kodak vs Instagram, kremlinology, late fees, London Interbank Offered Rate, London Whale, Marc Andreessen, Mark Zuckerberg, mobile money, moral hazard, new economy, Nicholas Carr, offshore financial centre, PageRank, pattern recognition, Philip Mirowski, precariat, profit maximization, profit motive, quantitative easing, race to the bottom, recommendation engine, regulatory arbitrage, risk-adjusted returns, Satyajit Das, search engine result page, shareholder value, Silicon Valley, Snapchat, Spread Networks laid a new fibre optics cable between New York and Chicago, statistical arbitrage, statistical model, Steven Levy, the scientific method, too big to fail, transaction costs, two-sided market, universal basic income, Upton Sinclair, value at risk, WikiLeaks, zer