Friday, March 11, 2016

Article Review #8

The article essentially discusses how the global economy is reaching a recession, as we leave the Golden Age of economy, and relates it to the prisoner's dilemma discussed it class beforehand. The article was decently straightforward and used common enough language to portray his point. He didn't bash on anyone, and didn't get overly creative in his, um, viewpoints on people, and really looked all the perspectives. He discusses the decreasing US, and other countries', decreasing export volumes, and brought in a lot of stats to show his point. It was an overall enjoyable article. He explains how the U.S. is already in a recession, as well as the rest of the global trade countries. Because of the open trade, when one country's economy suffers, the whole world feels that impact.  Some countries are now playing the Competition Game, when the Coordination Game would be much more beneficial for all the players. The author was kind enough to show a visual with how leaders would think they were helping themselves, but instead just decreasing the "size of the pie" for everyone, when they defect rather than cooperate.