Samuelson: Globalization to The Rescue? | Newsweek Voices - Robert J. Samuelson

Posted By: Sean Denton @ 10/31/2007 2:17:17 PM

Comment: Okay, since my previous comment was deleted by an overzealous Newsweek site admin, I'll just restate myself. Globalization is one of the few things keeping World War III from happening. What is a better method of balancing the vast political and social ideologies of the world into cooperating with one another when they're all participating in globalization? No, I fear most reactionary fears and responses to globalization lie in the fear of change, especially when a threat to America's economic dominance is perceived.

Posted By: Sean Denton @ 10/31/2007 2:16:57 PM

Comment: Okay, since my previous comment was deleted by an overzealous Newsweek site admin, I'll just restate myself. Globalization is one of the few things keeping World War III from happening. What is a better method of balancing the vast political and social ideologies of the world into cooperating with one another when they're all participating in globalization? No, I fear most reactionary fears and responses to globalization lie in the fear of change, especially when a threat to America's economic dominance is perceived.

Posted By: Sean Denton @ 10/31/2007 1:36:16 PM

Comment: Bleh, globalization is one of the few things from keeping World War 3 from happening.

Posted By: sosebee2 @ 10/29/2007 12:45:29 AM

Comment: Mr. Samuelson - Let me give you a quiz? According to Marxist theory how do you contol the people?
A. Propoganda B. Military Power C. Intimidation. D. Control the means of production

If you can rememeber Ecomomics 101 the answer is D. What we have with globalization is a reverse Utopian nightmare with corporations in place of people or government institutions. People are justifiably suspicious of this globalization. These "institutions" have no real responsibility to people or the governments unless they are trotting out the next P.R. campaign (see EXXON Oil and Valdez). But Samuelson shamelessly fronts globalization (World Order) by reminding us to be grateful for our big screen T.V.s. Listen everybody: "Consume, Be Happy..."

Thanks Bob.

Posted By: TIOC1 @ 10/26/2007 4:46:37 PM

Comment: These pro-globalization pieces follow a familiar trajectory. They take the "macro" view of jobs in the U.S. Globalization cheerleaders talk about "job creation" but never cite specifics to disprove the sense that globalization is hollowing out our middle class. Mr. Samuelson can't cite specifics on new middle class jobs replacing the olds ones because the data doesn't exist. People may find a new job, but it's mostly at lower pay with fewer benefits.

Anyone who questions "free trade" is a protectionist out to wreck the global economy. It's hard to see how fair treatment of America in the global marketplace is going to wreck anything. Here's a simple suggestion for dealing with the 100-plus U.S. trading partners who have VAT taxes and similar trade protectionism on their docks: let's change our laws and policies to mirror those of each trading nation partner. If they tax our goods, we tax theirs at the exact same rate. If free trade becomes fair trade, globalization won't be viewed with such distrust.

Posted By: TIOC1 @ 10/26/2007 4:31:46 PM

Comment: This column could've been written by a PR flack for one of the multinationals. Globalization apologists love to talk about new jobs replacing the old, but at what pay and benefit rate? As Lou Dobbs' promo says: why do most people need two incomes just to get by? Mr. Samuelson can't point to a wave of new jobs maintaining our middle class because they don't exist. Sure, there's wealth in America but it's concentrated more and more among the very rich. I'd like to hear Mr. Samuelson expound on why over a hundred of our trading partners have VAT taxes and we do not; it's a significant "fairness"issue in trade. We can't stop globalization but at the least we should update our laws and policies to ensure nothing more than fair trade for America. Here's a simple idea: the U.S. should mirror the import duties, taxes and restrictions of all our trading partners. That's a level playing field and one that's fair to America.

Posted By: Azim @ 10/22/2007 11:11:13 AM

Comment: This is indeed a well balanced report on Trade by Mr. Samuelson. It is true that politician from both parties have vehemently attacked trade as a job crusher in the United States. But it is on the contrary because trade does not really indicate the job creation or job loss in the economy. Global trade has both effects on the job but it has a positive outcome as we see it to be. Open and global trade has not only contributed to the economic prosperiety in various parts of the world including that of the economy that had suffered in the past. Opeining up trade not only given the consumer in the United States an opportunity to spend less in consumer products such textile goods or toys that are being imported from countries like India, China or Bangladesh.

It is a win win situation for everyone in the world that every body is benifitting from global trade and for that matter and no one should complain rather create an atmosphere that trade should be a equal playing level field. Again, we have to watch what our policy makers are intending to do regarding this issue of trade. We should work to improve our trade regime in order to do business openly to the world. By doing so, we can help the world prosper as well prosper ourselves.