Sunday, October 28, 2007

Why this matters to us.

A single blurb from part 2, which I will excerpt more completely tomorrow:

...Rubin has launched the Hamilton Project, a policy group of like-minded economists and financiers who are developing ameliorative measures to aid the threatened workforce and to create a broader political constituency that will defend the trading system against populist backlash. Yet how can one defend a system that creates wealth by making the majority poor? It is not possible to deify Mammon, the demon of the love of money.

The populist tidal wave may well build up to tsunami scale. As outsourcing moves up the skill ladder, threatening the job security of not just assembly line workers, but highly educated, resourceful and active workers in high-tech, information technology, medicine and finance, the democratic process will turn against neo-liberal globalization. The backlash can turn ugly, mixing xenophobia with anti-Semitism....

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