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Globalization (perhaps not actual globalism) has lead to billions of people being lifted out of abject poverty. They have not become middle class consumerists
by pizzetta 10y ago
Globalization (perhaps not actual globalism) has lead to billions of people being lifted out of abject poverty. They have not become middle class consumerists themselves, but globalization has lifted them out of abject poverty.
One may ask if domestic as well as foreign/alien (international) companies could pay the locals more... but at some point, paying the locals more disincentivizes globalization (it is no longer a competitive advantage with respect to the home country workforce).
- giardini 10y agoThe concepts of globalism and free trade derive from simple Western economic models that are incomplete and have many externalities that bear examination. The Samuelson paper I reference elsewhere in these posts is just one example of how the simple models fail. Most economic models omit the social aspects of life. In the drive to "globalize" societies, groups, families have been destroyed, religious and social communities relocated, torn apart, and decimated by economic forces in ways we barely understand. The search for meaning (factors that economics fails to address) continues nonetheless. The yearning for the old life is strong but control lies, for now (as usual), with those who have money. We need to constantly remind ourselves that a model is a model of only one part of a world (and possibly incorrect at that).