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The top 10% are the main beneficiaries of globalization, says study
The top 10% are the main beneficiaries of globalization, says study Collinearity of globalization indicators. Credit: The Journal of Economic Inequality (2023). DOI: 10.1007/s10888-023-09593-7 The income of many people around the world has considerably increased due to the economic globalization of the last 50 years. However, these income gains are unevenly distributed. A study by Dr. Valentin […]
The Gathering Stagflationary Storm
STEFANI REYNOLDS/AFP via Getty Images The Gathering Stagflationary Storm While recent shocks have made the current inflationary surge and growth slowdown more acute, they are hardly the global economy’s only problems. Even without them, the medium-term outlook would be darkening, owing to a broad range of economic, political, environmental, and demographic trends. NEW YORK – […]
A Response to McAfee: No, the “Environmental Kuznets Curve” Won’t Save Us
A RESPONSE TO MCAFEE: NO, THE “ENVIRONMENTAL KUZNETS CURVE” WON’T SAVE US A number of people have asked me to respond to a piece that Andrew McAfee wrote for Wired, promoting his book, which claims that rich countries – and specifically the United States – have accomplished the miracle of “green growth” and “dematerialization”, absolutely […]
Say Goodbye To Millions Of Jobs As Events Unfold
Say Goodbye To Millions Of Jobs As Events Unfold Society Needs Good Jobs Many jobs will not be coming back after the covid-19 crisis ends. We can say goodbye to millions of jobs as events unfold and markets evolve. Millions of small businesses being decimated by Fed policies that favor huge companies coupled with a surge […]
Will Skilled Hands-On Labor Finally Become More Valuable?
Will Skilled Hands-On Labor Finally Become More Valuable? The sands beneath what’s scarce and what’s over-abundant are shifting. On a recent visit to the welding shop where my niece’s husband works, I asked him if they had enough welders for their workload. His answer surprised me: “If you asked every welding shop in the country if […]
Globalization and Financialization Are Dead, and so Is Everything That Depended on Them
Globalization and Financialization Are Dead, and so Is Everything That Depended on Them Financialization was never sustainable, and neither was the destructive globalization it enabled. All the happy-story analogies to past pandemics being mere bumps in the road miss the mark. A popular claim is that the 1918-1919 flu pandemic killed millions but no biggie, the […]
Coronavirus Shutdown: The End of Globalization and Planned Obsolescence – Enter Multipolarity
Coronavirus Shutdown: The End of Globalization and Planned Obsolescence – Enter Multipolarity The coronavirus pandemic has shown that the twin processes of globalization and planned obsolescence are deficient and moribund. Globalization was predicated on a number of assumptions including the perpetuity of consumerism, and the withering away of national boundaries as transnational corporations so required. […]
COVID-19, Brought to You by Globalization
COVID-19, Brought to You by Globalization How the virus exploits traits of our economy extolled as modern triumphs. This pandemic, with an estimated mortality rate of one to two per cent, is not a world ender or something to be truly feared. But it deserves our respect and it certainly has our attention. Pandemics, which […]
We Can Only Choose One: Our National Economy or Globalization
We Can Only Choose One: Our National Economy or Globalization The servitude of society to a globalized economy is generating extremes of insecurity, powerlessness and inequality. Does our economy serve our society, or does our society serve our economy, and by extension, those few who extract most of the economic benefits? It’s a question worth asking, […]
The Third Wave Of Globalization Has Ended
The Third Wave Of Globalization Has Ended The global economy is certainly at crossroads. Protectionism and nationalism, a well-matched marriage of global chaos at the moment, has threatened to end the third wave of globalization that began in the late 1980s. Capital Economics has published a compelling research note, titled “The end of globalization,” specifying […]
The Importance Of A Resilient Life
The Importance Of A Resilient Life In the end, it will mean all the difference My business partner Adam and I recently met with a successful business owner whose career began on Wall Street. The kind of guy who should be rooting for the system, because it has treated him well. Instead, he was quite […]
Globalization Just Peaked
Globalization Just Peaked In Jackson Hole on Friday, Bank of England’s outgoing governor Mark Carney talked about a Synthetic Hegemonic Currency (SHC) that the world ‘must’ create, and I thought: that sounds as creepy as anything Halloween. Now, Carney is a central banker as well as a former Giant Squid partner, hence a certified cultist, […]
The Ugly End of Globalization
The Ugly End of Globalization Sometime in the fall of 2018 a lowly gofer at the New York Stock Exchange was sweating bullets. He’d made an honest mistake. One that could forever tag him a buffoon. After trading sideways for most of the spring, the Dow Jones Industrial Average was on the move. When it […]
American Soil Is Being Globalized: Nearly 30 Million Acres Of U.S. Farmland Is Now Owned By Foreigners
American Soil Is Being Globalized: Nearly 30 Million Acres Of U.S. Farmland Is Now Owned By Foreigners All across America, U.S. farmland is being gobbled up by foreign interests. So when we refer to “the heartland of America”, the truth is that vast stretches of that “heartland” is now owned by foreigners, and most Americans […]
