The Global Economy Is Necessary For Success Essay

2230 Words Dec 9th, 2016 9 Pages
As states develop, they tend to seek the ability to compete on all fronts. One major category that can help determine a country’s overall success is the economy. There has been plenty of concepts and theories constructed to try to come up with the ideal path to a good economy with abundant growth and with minimum issues. As, technology became more advanced and accessible countries were able to communicate very easily changing the economic landscape. The easy communication allows different countries to link up and conduct business with each other. This allowed nations to work economically on an international scale, this is globalization. Thomas Friedman, a New York Times columnist, proposed the idea that participation in the global economy is necessary for success and there is a specific way to particiapte. His approach is known as the “Golden Straitjacket”, and its an economic strategy for countries who wish to have a competitive economy in a globalized world. He suggest that other economies such as communism doesn’t work and of all the other alternatives ”none can generate income and to distribute as efficiently as free-market capitalism. (Friedman 60) When a country recognizes this than that are eligible to put on the golden strait jacket. If a country wanted to wear the jacket then it had to meet the policy requirements in order for it to fit properly. The essential requirement is to shrink the role of the states in order to let the economy expand. The main idea is…

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