Is capitalism unpatriotic?
Larry Summers was the president of Harvard University. In Nouriel Roubini’s book, “Crisis Economics,” Roubini writes, “Summers argued that the integration of China and India into the global economy – with close to 2.2 billion ‘Chindians’ joining the global labor force ... was the most significant event in the last 1,000 years of human history.”
Why would the former president of Harvard think this?
In 1989, Francis Fukuyama wrote “The End of History,” an analysis of the coming world order at the end of the Cold War. He said that an end form of human government was upon us, and this government was liberal democracy.
Fukuyama’s conclusion became a presumption of most of the world’s intelligentsia.
Unfortunately recent history has proved Mr. Fukuyama wrong. Gabor Steingart, author of “The War for Wealth,” gave the reason. In the past 20 years, the labor supply accessible to the Western industrial nations has mushroomed from 400 million to 2 billion with the addition of China et. al.
In a globalized no-border economy arbitrage will eliminate wage differences among similar types of work.
This means that, inevitably, the wages for Americans who have only labor to offer will be forced by arbitrage to equal Chinese wages.
The ramifications of this for the United States are profound. The primary objective of our political system for over 200 years has been the American Dream. This objective was largely achieved in our nation-state economic system with capitalism as the form of economic organization because there was a balance between labor and capital. This balance no longer exists in the globalized economy.
In former nation-state economies that have adopted the global economic system, the numerics of the global labor force plus arbitrage drive down wages of average people, or push them out of the system altogether. The result is the concentration of economic power and undermining of political power. In every country, castes are developing where large segments of the population are excluded from economic prosperity.
On Nov. 19, 1863, Abraham Lincoln declared that our nation was dedicated to the proposition that all men are created equal. Globalism has created economic systems that increase inequality and undermine democracy. Only when we realize that globalism is another -ism that belongs on the ash heap of history, will our country once again be able to keep the American promise to every American.
Woman steps up
Recently there was a column called, “Focus on appearance makes women reluctant to run for political office.” (Sept. 6).
In the column the writer wrote, “The disparity between men and women in elective office is not the result of discrimination but the failure of women to seek office in the first place.” It went on to say how individuals judge female candidates based on appearance.
After reading this article, I am proud to be able to support Sharon Tucker, candidate for Allen County Council at large. Sharon represents the few women, in the face of all the negativity and opposition, who are still willing to run for a political office.
I am glad Sharon Tucker’s belief in people and our community is strong enough to give her confidence to run.
Don’t try this excuse on your boss at work
Try this at work: When your boss asks you for that report that was due or asks about the results you are responsible for but haven’t hit yet, just say, “It’s incomplete. It’s really the fault of the guy I replaced four years ago. He really screwed things up here. I need four more years to fix his messes.”
How would that go over? How long would you keep your job?
We have the top executive in America saying exactly these things. And he is getting a pass by so many. None of us would survive in a company if we made such claims. And yet Obama wants four more years of incomplete and blaming all the while spending us into oblivion and doing nothing to solve the issues this country is facing. Obama needs to be fired. We can all do better.