INSIDE BUSINESS

It Isn’t a Zero-Sum Game

Newsweek's Business Roundtable looks at the two faces of globalization, and whether the U.S. can stay ahead.

Newsweek Web Exclusive

Aug 30, 2008 | Updated: 1:25 p.m. ET Aug 30, 2008

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Posted By: Jmichaels59 @ 11/12/2008 12:24:51 PM

Comment: Eventually the biggest gap in the USA will occur between those who can change the way they think, and those that cannot. Start surviving today, there are options, if your plan A isn't working out, it may be time to start looking at something else. A different perspective is what you may need. You can thrive, right now. Look at a new plan, plan B maybe! Read/listen to this audio from Robert Kiyosaki, "The Perfect Business?". Get it FREE for a limited time NOW. http://www.freecdforyou.com
Posted By: izixyl @ 11/03/2008 6:44:01 PM

Comment: Response to VOTENOW: You posted the same comment twice to keep your off-topic copypasta political spam at the top of the comments list. The article that you are commenting on is about globalization and makes no mention of Sarah Palin. People reading this page might of actually come here in the hopes of reading about globalization. So why don't you take your sorry mess over to an article that is actually about the election?

But since we are on the topic....

On the whole, both Democrats and Republicans have failed this country enormously. Both promote globalization. Both are responsible for the deficit spending, the credit crisis, Fannie Mae, the bailout package, and on and on. I find the faith of Obama supporters to be very naive. To his followers he almost like some sort of magical black Jesus. During the heyday the Bush presidency, any criticism of the Bush administration was taken by Republicans was taken to be unpatriotic. Of course, everyone now knows that Bush was just a human being that both richly deserved and needed criticism. I thought it was wrong then with Bush, and I think it is wrong now with Obama. Is it racist to criticize Obama? Do we really need another president who cannot be criticized? Can we expect an honest assessment of the man when he is surrounded by an adoring media and throngs of messianic Obamaniacs, each one pressing to merely touch the hem of his garment and be healed of all their ills? Can the public expect on honest discussion on anything of even marginal importance ever again? Or instead will we deluged in slurry of opinion journalism designed to push towards one party or another?

Despite his campaign promises to "end tax breaks for companies that outsource", I have no doubt that Obama will prove to be a globalist par excellence.
Posted By: VOTENOW @ 11/03/2008 5:05:07 PM

Comment: Sarah palin when asked about becoming vp responded

"As for that VP talk all the time, I tell you, I still can't answer that question until somebody answers for me, 'what is it exactly that the VP does every day......"

Around a week ago she was asked again and this time said

They in charge of the U.S. Senate so if they want to they can really get in there with the senators and make a lot of good policy changes that will make life better for Brandon and his family and his classroom.

WRONG THE VP IS THERE TO STEP IN IF SOMTHING HAPPENS TO THE PRESIDENT ONLY THEY HAVE NOTHING TO DO WITH POLICY AND THEY DONT RUN THE SENATE!!

If she doenst understand the job why would we give her the job

Mccain has around a 40 percent chance because of his age in not being able to
As many as half the people between 72 and 76 are disabled or die
Hopefully mccain would be the exception but picking palin was about as smart as picking any other mrs Alaska contestant.
Thanks for making sure the rest of us are ok if something happens to you John
America cant take the chance of being run by someone that cant understand basic issues
NOT RIGHT NOW
Its not just that we disagree with her answers in alot of cases she doesnt understand basic questions
like what is the bush doctrine, or what do you read. She falls apart if you ask a follow question she hasnt memorized
These are not gotcha questions!!!
One of advisors recently said not only was she unqualified but said mccain picked her after 1 interview of about a hour
and that even at mcdonalds you get 3 interviews.
Members of her own campaign called her a diva and a whack job.
They would know better then anyone else right now.

So mccain gambled and he lost big. He ended up with a girl without a clue
But whats interesting is the top of the ticket could never disagree with what i am saying
because mccain could never read this blog he cant use a computer at all.
So hopefully fixing the economy would not require research or email
I mean his wife has 100 million dollars get him classes or something.

Am i crazy or do we want a computer literate president and a vp who can answer a least basic questions.
If you read the rest of the articles on this site you would think the world is about to end
So if thats the case these are the last 2 people you want running anything.
lets send them packing.

ELECT OBAMA BIDEN NOW
Posted By: izixyl @ 11/03/2008 4:08:29 PM

Comment: Independent of whether you believe globalization is good for the US or not, I believe that it is sold to the American people in a way that is very dishonest. I want to address three categories of arguments for globalization and explain why each is disingenuous.

The first argument I want look at is that the global economy is not a zero sum game. This argument is ambiguous enough to be true or false, especially depending on how you choose to interpret "global economy". However, no matter how much the world economy grows, trade is a zero sum game. I don't mean this metaphorically. I mean that trade is literally, mathematically a zero sum game. By definition, the value of the world???s exports must be equal to the value of the world???s imports. A country can only run a trade surplus if another country runs a trade deficit and visa versa. The question that is really up for debate is what do large and prolonged trade deficits tell us about the direction of our economy.

Secondly, globalization advocates always include variations of the same explanation, that the reason globalization has not worked to the benefit of the US is we have not invested enough in education and new technology. We worship and fetishize new technology. The answer to every problem has become "google" and if that fails "science will eventually develop a solution." This genie of technology has made our pundits and policymakers intellectually lazy. New technology is useful and necessary but it is no silver bullet for our economic problems. New technology is not something that can significantly set the US apart. Take, for example, the IT industry. It really doesn't make much more sense for the US to have IT and software development industries than it does for it to have a textile industry. The cost of labor difference is just simply overwhelming.

The next argument is that globalization is will lift billions out of poverty and these new consumers will make the whole world, including the US, more prosperous. This argument for globalization is more sincere in that in the long run it has the potential to become true but it also glosses over some unsavory questions. Asia will not reach wage parity with the US for another half century. What exactly happens in meantime? 50 years of flat income growth for the middle class on down? Rising personal and public debt to mask the effects of shrinking incomes? Since the whole system is dependent on US consumers, how long can such a system remain stable? There is definitely a moral argument to be made here in regards to lifting billions out of poverty, but to make such an accomplishment possible the people of the developed world will need to make painful choices. This moral argument is never discussed.
Posted By: VOTENOW @ 11/03/2008 4:01:59 PM

Comment: Sarah palin when asked about becoming vp responded

"As for that VP talk all the time, I tell you, I still can't answer that question until somebody answers for me, 'what is it exactly that the VP does every day......"

Around a week ago she was asked again and this time said

They in charge of the U.S. Senate so if they want to they can really get in there with the senators and make a lot of good policy changes that will make life better for Brandon and his family and his classroom.

WRONG THE VP IS THERE TO STEP IN IF SOMTHING HAPPENS TO THE PRESIDENT ONLY THEY HAVE NOTHING TO DO WITH POLICY AND THEY DONT RUN THE SENATE!!

If she doenst understand the job why would we give her the job

Mccain has around a 40 percent chance because of his age in not being able to
As many as half the people between 72 and 76 are disabled or die
Hopefully mccain would be the exception but picking palin was about as smart as picking any other mrs Alaska contestant.
Thanks for making sure the rest of us are ok if something happens to you John
America cant take the chance of being run by someone that cant understand basic issues
NOT RIGHT NOW
Its not just that we disagree with her answers in alot of cases she doesnt understand basic questions
like what is the bush doctrine, or what do you read. She falls apart if you ask a follow question she hasnt memorized
These are not gotcha questions!!!
One of advisors recently said not only was she unqualified but said mccain picked her after 1 interview of about a hour
and that even at mcdonalds you get 3 interviews.
Members of her own campaign called her a diva and a whack job.
They would know better then anyone else right now.

So mccain gambled and he lost big. He ended up with a girl without a clue
But whats interesting is the top of the ticket could never disagree with what i am saying
because mccain could never read this blog he cant use a computer at all.
So hopefully fixing the economy would not require research or email
I mean his wife has 100 million dollars get him classes or something.

Am i crazy or do we want a computer literate president and a vp who can answer a least basic questions.
If you read the rest of the articles on this site you would think the world is about to end
So if thats the case these are the last 2 people you want running anything.
lets send them packing.

ELECT OBAMA BIDEN NOW
Posted By: lioron2710 @ 09/13/2008 1:05:04 PM

Comment: American-style capitalism has been sacrificed at the altar of business interests. America has finally met its match in globalization. The axis of the world has shifted and all that the Federal Reserve can do to make this look a little less unseemly is to try and support as many too-big-to-fail financial institutions . Bubbles have debilitated America. It is all over.
Posted By: traderaslan @ 09/05/2008 12:32:57 PM

Comment: Just free trade is good only if it is also fair trade! Unfortunately our trade with China is not fair trade, our manufacturing facilities being shut down; we can hardly find any American made product anymore. We became dumping ground, Comunist China subsidizing Chinease Manufacturers. We are loosing all type of businesses (hi-tech and low -tech) in USA,
Posted By: Tea6 @ 09/04/2008 4:02:30 AM

Comment: RE: Glenno Neo-mercantilism, just like everyone else. Our democracy is doing just fine. International law is ok up to the point it is used by global elitists to subvert our democracy.
Posted By: Glenno @ 09/03/2008 11:31:27 PM

Comment: It is obvious that free trade, democracy and international law does not suit America anymore, but what is the option?
Posted By: Tea6 @ 09/03/2008 4:32:14 PM

Comment: All this theoretical stuff about how globalization is going to lift everyone up in the US is just not believable anymore. Sure GDP has grown, corporate profits are up, the top 1% and the global consultants, who are quoted here, are making money hand over fist.

However wages for the average American are stagnating and job growth has disappeared. While you try to blame this on poor US schools or roads, the truth is that outside of the exporting areas of Asia our schools and roads are better. The problem is not us, it is you. You have rigged a global game to your benefit and at our expense. Take your theories and shove them. We can see the result of your work with our own eyes. You do not fool anyone, anymore.