Free Speech or Blatant Cuber-terrorism Essay Example | Topics and Well Written Essays - 250 words

Free Speech or Blatant Cuber-terrorism - Essay Example An organization like the New York Daily News praised this effort by Wiki Leaks, denoting it had changed the manner in which news was gathered, and disseminated. Freedom of speech is an important pillar that guides the political, social, and economic environments of United States (Beckett and Ball, 2012). All democracies promote freedom of speech, irrespective of whether the information provided is good to the government or not. It is important to explain that democratic governments normally encourage criticisms. By releasing this information, the founder of Wiki Leaks was criticizing the diplomatic and military strategies of United States (Beckett and Ball, 2012). This is because some of the information released talked about the negative perceptions that the American government had towards some world leaders, and their governments. Wiki Leaks is not cyber terrorism, and its founder is not responsible for abetting or aiding terrorism. Instead, Wiki Leaks is a media organization that aims at promoting freedom of speech, and that of the

Global Financialization Essay Example | Topics and Well Written Essays - 750 words - 2

Global Financialization - Essay Example In fact, massive inflows of capital followed by sharp and sudden reversals of capital flow result in crises of exchange rates that have characterized developing and emerging nations (Stiglitz 1081). The macroeconomic troubles stirred by volatile flows of capital have been acutely felt in developing and emerging countries such as Turkey and Argentina in 2001 and the late 90s South East Asia financial crisis, which were all related to flow of capital. These countries suffered from sharp declines in real GDP. A particular reason that leads to rates of exchange having such a significant effect is because, in liberalization and financialization of global markets, it is profitable to be involved in interest arbitrage, which means that one borrows from a specific currency and lends or invests in other currencies, also referred to as carrying trade (Rodrik 1). For example, if interest rates of the Turkish Lira were higher compared to those of the Euro, taking rates of exchange to be stable, it tempts to borrow in Euro credit and then invest or even lend in Turkish Lira. This implies that liabilities, as well as assets, will be in currencies of different countries. Therefore, abrupt realignments in rates of exchange could end up having disastrous effects on the balance sheets of banks or organizations. In addition, capital flow liberalization also lets developing nations accrue current account deficits for a longer time, and at a higher level than they could be during the reign of the Bretton Woods organizations. Financial globalization and liberalization have led to an increase of potential difference in development among countries if the global market financial markets retain their stability and calmness. The revaluation, typically, of financial markets has been accompanied by abrupt reversals of capital flow, as well as crises in exchange rates, all of which show that global financialization is not good for developing countries (Rodrik 1). Governments play a crucial role in the evolution of global financialization, as well as its effects on individual countries and their development. All governments at national level possess a specific responsibility to ensure security and stability of the domestic financial, banking, and monetary systems, which are vital to any economy’s functions. The vulnerable nature of financial and banking systems to crises, failure of markets and instability has virtually produced regulatory authorities and central banks that are aimed at protecting their social interests, as well as for the mediation of their countries’ interactions with international financial markets (Doyran 32). Effective stability and functioning of the financial and monetary systems have become a fundamental requirement as far as development is concerned, which is only achievable via the effective actions of nations.