4 ms·
> Globalism is good for people overall Who is it good for and how?
by fucking_tragedy 10y ago
> Globalism is good for people overall
Who is it good for and how?
- losteric 10y agoIn theory, there are couple benefits: * Cheaper products for everyone * Competition drives innovation * Lower risk of large-scale wars * Ship high-pollution industries overseas * Improved price stability In practice, it falls apart because... - US has a poor social safety net. Low-income workers often end up jobless or in even lower skilled jobs - Globalism builds bigger corporations, which actively suppress competition - Big direct wars are replaced with constantly simmering proxy wars - We can't control environmental degradation in other countries
- eru 10y agoPeople who can buy cheaper fridges. People who can sell cheaper fridges.
- fucking_tragedy 10y agoHow can people buy cheaper fridges when they're no longer employed because it is cheaper to employ someone to do their jobs where safety, benefits and human rights don't exist?
- eru 10y agoUnemployment doesn't work that way. Otherwise, eg Singapore would have lots and lots of unemployment. Enough aggregate demand and a flexible labour market lead to low unemployment. (And on the flip side, a shortfall of aggregate demand can lead to recession and high unemployment.) Central banks can with their fiat currencies these days can always print enough money (eg quantitative easing) to prop up aggregate demand, if they choose so.