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Troubled about income inequality? Globalization fuels it
invite response
2021 Feb 19, 5:10pm 285 views 2 comments
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1
Patrick
2021 Feb 20, 9:15am
There is almost nothing you can manufacture competitively in America now, because you'd be competing with goods imported from countries with lower wages and weaker regulations, so your product would cost much more and people would not buy it.
Worse, we have literally lost the ability to manufacture a lot of things because our factories have closed. We are completely dependent on China for things like antibiotics. This gives China a lot of power over us.
We should be learning the dangers of centralized dependencies after seeing what big tech did to free speech. Starting to think we should not even have centralized power and water after seeing what happened in Texas. A lot of small utilities and even per-house reservoirs and local electricity generation from gas would require more up-front cost, but would give a lot more freedom and security.
Patrick
2021 Feb 20, 9:15am
Rodrik conclusively demonstrated that globalization essentially allowed multinational corporations to create a worldwide system for the express purpose of escaping the constraints of taxation, regulation, unions, environmental laws — and most especially, accountability to democratically elected governments.
There is almost nothing you can manufacture competitively in America now, because you'd be competing with goods imported from countries with lower wages and weaker regulations, so your product would cost much more and people would not buy it.
Worse, we have literally lost the ability to manufacture a lot of things because our factories have closed. We are completely dependent on China for things like antibiotics. This gives China a lot of power over us.
We should be learning the dangers of centralized dependencies after seeing what big tech did to free speech. Starting to think we should not even have centralized power and water after seeing what happened in Texas. A lot of small utilities and even per-house reservoirs and local electricity generation from gas would require more up-front cost, but would give a lot more freedom and security.
2
Rin
2021 Feb 20, 2:32pm
Rin
2021 Feb 20, 2:32pm
Patrick says
Eventually, the M&A world gets involved and you have huge oligopolies.
It's not called Consolidated Edison (ED ticker) without a reason.
A lot of small utilities and even per-house reservoirs and local electricity generation from gas would require more up-front cost
Eventually, the M&A world gets involved and you have huge oligopolies.
It's not called Consolidated Edison (ED ticker) without a reason.
Guilluy persuasively asserts that the old dichotomy of liberal v. conservative is no longer relevant. Instead, he sees a new chasm in society dividing those who are winners in globalization’s “New Economic Order” and those who are losers. The elites are not just the traditional upper classes but also the professional classes that support them, without whom this social and economic transformation could not have occurred. The elites “capture most of the benefits of offshore production and free trade” while the working classes are excluded and “condemned to live out their lives as second-class citizens,” Guilluy contends.