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Globalization, Inequality and the New SerfdomMahaBarbara (Great Barbara) has a great post over at the Mahablog, on the road to serfdom, which reminds me of what Oldman used to call "The New Feudalism". I'm going to pick a small nit and launch a digression, however...
Globalization is often presented as "from on high" - a natural event somehow unconnected to policy. Nonsense. It was aided and abetted, for sure, by telecom advances and infotech, but they weren't necessary, by any means. The great (even greater than today) globalized period of the late 19th century did just fine without such technology. Even in intellectual property , the area most effected, the situation eerily echoes that of the late 19th century (except then it was Britain trying to enforce IP laws while America pretended, sometimes, to enforce them, and now it's America trying to enforce them... while China pretends, sometimes, to enforce them.) Globalization and inequality, while they had some basis in economic history (the oil shock and stagflation had to be dealth with, but the American solution and the European solution were rather different and lead to different places) were and are a matter of deliberate government policy. Since they were deliberate, they can be undone. Unfortunately, since so much damage has been done, the cure is going to be bloody painful; and odds are we won't attempt it till we're on the gurney, damn near seeing the light and willing to let the surgeon do anything... including, gulp, horrible things like strongly progressive taxation; either real free trade or retaliatory protection against dumpers like the Japanese and Chinese; real capital flows controls that effectively shut down currency speculation (not currency trade, but speculation; and real significant trust-busting. Till then, we're just seeing how long we can keep this bucket from hitting bottom. Ian Welsh September 4, 2007 - 6:21am
( categories: Miscellany )
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