Tuesday, August 23, 2016

For years I've been reading about the benefits of globalization. And they have materialized: clothing is cheaper, different varieties of food are available... On the other hand, it has destroyed our home industry. Factories went overseas. We moved to a service-based economy. It's hard to find a job with only a high school degree. So what happens to the people who depended on those jobs? Usually the idea is thrown about to retrain them, but in all seriousness who the hell would hire a fifty-something who has no previous experience in the field?

I mentioned before how the lack of solution to this problem helped lead to Trump. At some point there is going to be a boiling point if a group of people are kept down long enough with no recourse. It doesn't have to happen in only a democracy. That's why the French Revolution and Russian Revolution were so violent.

I wonder sometimes if economists take that into consideration. Yeah, globalization may have helped us overall, but it left behind a group of people. That's the nature of things: there are haves and have nots. But if there are too many have nots or there isn't enough to help alleviate their situation, a society can get wrecked. Surely someone must've studied this. If you drop enough factory jobs in the US, when is places like Alabama, West Virginia, Ohio, or South Dakota going to raise bloody hell? Did no one write a paper called, "How to retain the benefits of globalization by shipping our jobs to Bangladesh whilst assuring that the US does not suffer a possible communist revolution?"

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