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Globalization is centralization: finance is centralized in New York and London; manufacturing is centralized in China and Germany; IT outsourcing is centralized
by rm_-rf_slash 10y ago
Globalization is centralization: finance is centralized in New York and London; manufacturing is centralized in China and Germany; IT outsourcing is centralized in India.
Over the 19th and early 20th century, the benefits of American westward expansion and the development of the industrial Midwest largely accrued to the big banks in New York. The same is occurring, just on a larger scale and accelerated due to leaps in technology.
- dantheman 10y agoThe US manufactures more than it ever did, page 2 of this pdf shows it quite clearly: https://fas.org/sgp/crs/misc/R42135.pdf https://fas.org/sgp/crs/misc/R42135.pdf The US is more than double Germany.
- Nomentatus 10y agoBut with fewer workers.
- dantheman 10y agoProgress?
- yomly 10y agoThere's a lot here to discuss. I think you're right: look at the huge tech grab between China and America. Almost all Western Internet + parts of Asia goes through America (Google/Amazon/Facebook) for example. As for centralization, I agree with you, but what do you do with all the people who didn't back the right industry? They're slowly being displaced. If you subscribe to the concept of social welfare, a government should be ensuring their quality of life. This includes access to employment, education, healthcare and even pleasure. This is the inconvenient truth of the current world we live in, but frustratingly it took a Trump and a Brexit to happen for the idea to get much coverage, and even still it is mired in unnecessary political complications that are not strictly relevant.
- Nomentatus 10y agoActually massive British investments provided a lot of the capital, so London got a very large share as well.