Re:The Class of 2017 – Raising America's Pay
by slg on Monday May 08, 2017 @12:38PM
(#14293192)
>The evidence that globalization causes great harm is simply too obvious for me to ignore.
Globalization creates value. You can't just dismiss Ricardian theory because of your anecdotal experience. The problem is where the value that is created by globalization goes. It has increasingly gone to the richest of the rich. If that increased value was distributed fairly and we increased the social safety nets to help the people caught in the transition, like those in your home town, society as a whole would be much better off. Trying to turn back the clock on globalization is simply short term thinking on a problem that will continue to get worse if we don't come up with a lasting solution.
Globalization creates value. You can't just dismiss Ricardian theory because of your anecdotal experience. The problem is where the value that is created by globalization goes. It has increasingly gone to the richest of the rich. If that increased value was distributed fairly and we increased the social safety nets to help the people caught in the transition, like those in your home town, society as a whole would be much better off. Trying to turn back the clock on globalization is simply short term thinking on a problem that will continue to get worse if we don't come up with a lasting solution.