Film: “Commanding Heights” — view the segment on Keynes vs. Hayek “the Battle of Ideas” based on the book by Daniel Yergin and Joseph Stanislaw by the same title, Simon & Schuster, 1998

1) Film: “Commanding Heights” — view the segment on Keynes vs. Hayek “the Battle of Ideas” based on the book by Daniel Yergin and Joseph Stanislaw by the same title, Simon & Schuster, 1998. Commanding Heights: The Battle for the World Economy is a six-hour documentary that originally aired on PBS in 2002. Note the role and historical context of two leading economic thinkers, John Maynard Keynes and Friedrich von Hayek. Please see the following film. (One episode could suffice enough to answer the question asked, but I recommend you watch all 3 episodes for better understanding the development of economics in our last century: After all, it is one of the best documentary on globalization, and you will learn a lot.). 2) Written Assignment: A. Contrast the position of Keynes vs. Hayek on income inequality and government redistribution policies (such as progressive taxation and minimum wages). B. Consider the evidence in the two articles below (as well as long term data on inequality by Piketty attached). C. Develop arguments both pro and con regarding income redistribution. That is, the government should/should not have progressive taxes, unemployment insurance, social security, minimum wages, or welfare programs. Develop comprehensive positions on BOTH sides, making use of evidence where possible. Write a brief essay answering these questions, double-spaced, typewritten, 2 — 3 pages, with footnotes and references. Document all sources and cite the source of all statistics and direct quotes in the body of the text. Reference articles: “The President of Inequality,” Wall Street Journal, October 2, 2014. Angus Loten. “Election Pay Day: Five States Vote to Raise Minimum Wage.” Wall Street Journal, November 5,.2014. Data below are from Thomas Piketty, as reviewed in The New Yorker, in an article by John Cassidy, March 26, 2014.

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