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I'd say that globalization often causes losses for the poorest and gains for the richest, but that overall it increases the amount of wealth coming into the cou
by OscarCunningham 9y ago
I'd say that globalization often causes losses for the poorest and gains for the richest, but that overall it increases the amount of wealth coming into the country.
Therefore ending globalization would help the poor at the expense of the rich, but you could also just take money from the rich and give it to the poor. Since globalization brings more money into the country overall there must be some level of redistributive taxation that makes globalization better than non-globalization.
- barrkel 9y agoDon't forget that there are gains to trade. It's not just redistributive; more people are making more stuff (aka creating wealth). The pie gets bigger. The risk is that some people's slice gets smaller, even in absolute terms. Poor people who are still employed also gain from globalization, because their inputs become cheaper. Above all, too high a rate of change is what causes dislocation and destroys lives, when large segments of the population are left without valuable skills.
- tormeh 9y agoYes, but shrinking the pie means that finite resources such as housing (land) becomes cheaper. Even if my piece of pie gets smaller in absolute terms I might still be better off than before because the price of housing and domestic services have gone down.