Wednesday, July 15, 2009

Globalization Cuts Both Ways

Globalization and open markets are good things. I fully expect that as Asia continues its rise, and therefore increases its competition with the U.S., many Americans will suddenly find globalization and capitalism not to their liking. Why? As Jim Manzi puts it, practical terms, [globalization] has very little to do with McDonald’s in France, and almost everything to do with the economic rise of Asia, [and] U.S. income inequality is a demonstration that many – probably most – Americans don’t have the capabilities required to maintain anything like their current standard of living in competition with a global labor force.

Japanese ascendance in the auto and steel industry in the 1980s made many self-claimed conservatives cry, "Boo hoo, the Asians are coming, you have to pass protectionist tariffs to protect my job!" Globalization works both ways, and it will always work to take away older industries from developed countries like ours. If you fight that, you're a wannabe socialist, and you're pissing into the wind. See why education is important?

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