[IP] more on As It Tries to Cut Costs, Wall Street Looks to India
From: John Pickens <jpickens@xxxxxxxxxxx>
The book "One World, Ready or Not: The Manic Logic of Global Capitalism" by
William Greider has some interesting, if not controversial, perspectives on
the global economy, and how we really have not escaped from the norms of
human exploitation of ages past (just the identities of the players have
changed). At any rate it suggests we are benefactors (victims) of macro
trends that span national identities and boundaries.
Footnote: Interestingly I recall once hearing a senior (sales) manager of a
low cost manufacturing opportunity say "see we use only 18 year old girls
in our factory - their minds are not cluttered with the distractions of
family living." This was an opportunity that claimed to manufacture at one
tenth the cost of the leading competitive nation (national and corporate
identities not disclosed).
The publisher's review follows (Barnes and Noble version):
Pub. Date: January 1998
Publisher: Simon & Schuster Adult Publishing Group
From the Publisher
The global economy is the leitmotif of the end of the twentieth century.
Driven by the logic of modern capitalism, the global economy, a product of
the Third Industrial Revolution, is a wondrous free-running system that is
reordering the world as it transforms the lives and economic prospects of
workers, corporations and nations. Having traveled the globe and talked to
factory workers, corporate CEOs, economists and government officials,
Greider contends that the global economy is sowing "creative destruction"
everywhere: while making possible great accumulations of wealth, it is also
reviving forms of human exploitation that characterized industry one
hundred years ago and raising profound questions about the relevance of the
nation-state in the face of impersonal market forces. Greider explains the
dynamics of the global economy in terms of human struggle of diverse
peoples and nations, rich and poor alike, facing a multiplicity of
opportunities and dangers. As manufacturers in search of greater returns on
investment move their assembly lines to low-wage countries, the
globalization of industrial production is resulting in excess supplies of
goods and labor, which, in turn, exert downward pressures on prices and
wages. The deregulation of cross-border capital flows has opened new
opportunities for currency traders while allowing unfettered speculation on
a scale that can overwhelm the resources of even major governments.
Meanwhile, the high interest rates that global investors charge to finance
the growing debt of rich nations threaten the modern welfare state, with
the attendant risks of class conflict and social chaos.
More reviews, including some readers who disagree with the logic of the
book, can be found at:
http://search.barnesandnoble.com/booksearch/isbninquiry.asp?isbn=0684835541#REV
J
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