Mark Ritchie wrote a piece about something that I think should be raised here, and I'm going to quote two paragraphs from him to do it.
"I will define globalization as the process of corporations moving their money, factories and products around the planet at ever more rapid rates of speed in search of cheaper labor and raw materials and governments willing to ignore or abandon consumer, labor and environmental protection laws. As an ideology, it is largely unfettered by ethical or moral considerations.
"In contrast, globalism is the belief that we share one fragile planet the survival of which requires mutual respect and careful treatment of the earth and of all its people. Globalism, like all values and ethical beliefs, requires active practice in our day-to-day lives. Communications to foster understanding, sharing of needed resources on the basis of equity and sustainability, and mutual aid in times of need are three central features of activities that undergird globalism."
Because of the search for the best possible price multinationals can get for labor, countries are in a race to the bottom, with labor market competition forcing wages downward and, even in the best of times, arresting what would in the past be an expected growth.
The decrease in capital controls has led to economic uncertainty. I doubt you and I agree on much, Agusto, but we may agree that the Asian collapse would not have been as bad if capital hadn't been able to so quickly be moved from the region. In fact, that makes me think of a book you might like, or like to hate, anyway. Are you familiar with Wall Street by Doug Henwood? I think, from what you've posted so far, you might find it interesting.
Anyway, until the question is defined a little more, that's it for me.
vox
Economists have provided capitalists with a comforting concept called the "free market." It does not describe any part of reality, at any place or time. It's a mantra conveniently invoked when it is proposed that government do something the faithful don't like, and just as conveniently ignored whenever they want government to do something for them.
