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To begin it is important to explain the meaning of The Lexus and the Olive Tree The Lexus refers to technological advancement and growth where the Olive Tree refers to traditional roots and stability The basic premise of the book is the conflict between the two within cultures economies and individuals and how it if possible at all to bring the two camps together Friedman 31-34 Friedmans thesis is that globalization is the new international system that has replaced the Cold War The unstoppable technologies of the authors globalization are computerization and the Internet With more than lightening speed they are bringing down national borders and powering those individuals who can benefit themselves of democratizing new tools For economies everywhere crony capitalism was an early target of globalization Communism and fascism had their opportunities on world stages between 1917 and 1989 they simply didnt work To prosper today says the author economies must make the private sector the primary engine of growth maintain price stability shrink the size of government bureaucracy maintain a balanced or surplus budget eliminate tariffs on imports and increase exports remove restrictions on foreign investment get rid of quotas and domestic monopolies privatize government-owned industries deregulate so as to promote as much domestic competition as feasible eliminate government corruption subsidies and kickbacks open banking and telecommunications to competition and allow citizens to choose among competing pension options and foreign and domestic run pension and mutual fundsFriedman In a chapter on globalution or revolution from beyond Friedman argues that investors can now force governments to be more clear and democratic They seek strength openness and the ability to protect their property but I believe one cant achieve these without building a good democracy and good labor He also thinks the demand for E-government is rising and says why should anyone wait in line for six hours at the county license bureau to get a license renewed when one can buy
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