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globalization, globalism

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2008 financial crisis We are fortunate that, thanks to globalization, policy decisions in the U.S. have been largely replaced by global market forces. Alan Greenspan, 2007 © 2018 Kwiple.com
California Douglas [Aircraft Company] built Santa Monica and then left it, and the streets running south of what had been the first Douglas plant were now lined with body shops, mini-marts, Pentecostal churches and walk-in dentists. Still, Santa Monica had its ocean, its beaches, its climate, its sun and its fog and its climbing roses. The Gateway Cities will have only their warehouses. Joan Didion, Where I Was From © 2017 Kwiple.com
Cities Our great, global cities are turning into vast gated citadels where the elite reproduces itself. Simon Kuper, Financial Times, June 14, 2103 © 2018 Kwiple.com
Corporate governance As Mr [Charles] Dumas argues in his book [Populism and Economics] this Victorian invention [limited liability] ensures that a company and its owners have only limited exposure to damaging consequences of their actions. Yet the implicit contract behind limited liability – companies pay tax in exchange for limited exposure – has broken down because globalisation has turned corporate taxes into an increasingly voluntary levy. Limited liability also contributed to excessive risk-taking in banking before the 2007-8 crisis. John Plender, Financial Times, July 26, 2018 © 2018 Kwiple.com
Economic growth When the US has a party, the rest of the world gets an invitation. A European strategist at JPMorgan Asset Management quoted in Financial Times, March 22, 2021, on the likely effect of Biden's $1.9tn stimulus on increasing imports of consumer goods to the U.S. from countries like China © 2021 Kwiple.com
Elites say Export factories, import workers © 2017 Kwiple.com
Globalization The biggest economic winners of the last 40 years were highly skilled natives living in superstar cities. They risk becoming the biggest losers of the next era. To quote the scary new mantra: if you can do your job from anywhere, someone anywhere can do your job. Lesser-skilled workers in western countries have been through this already, when jobs in factories, call centres and back office were offshored. Parisian graphic designers and New York bankers may be about to find out what that feels like. Simon Kuper, Financial Times, March 25, 2021 © 2021 Kwiple.com
Globalization Global remittances to low- and middle-income countries hit a record $554bn last year, double the figure for 2007, and more than the annual global total of foreign direct investment, says the World Bank. That figure is projected to plunge 20 per cent this year. Simon Kuper, Financial Times, September 24, 2020 © 2020 Kwiple.com
Globalization I am not a U.S. company and I don't make decisions based on what is good for the U.S. Lee Raymond, CEO of ExxonMobil © 2020 Kwiple.com
Globalization I hear people say we have to stop and debate globalisation. You might as well debate whether autumn should follow summer. Tony Blair, 2005 © 2019 Kwiple.com
Globalization Ideally, you'd have every plant you own on a barge to move with currencies and changes in the economy. Jack Welch © 2017 Kwiple.com
Globalization Ideas, knowledge, science, hospitality, travel – these are the things which should of their nature be international. But let goods be homespun whenever it is reasonably and conviently possible, and, above all, let finance be primarily national. John Maynard Keynes, “National Self-Sufficiency” © 2019 Kwiple.com
Globalization Perhaps the only Americans who are truly safe from the negative effects of global labor markets, capital flight abroad, immigration, and labor-saving technology are the affluent owners of stock in multinational corporations. They unambiguously profit from all these forces. Benjamin Page and Martin Gilens, Democracy in America? © 2019 Kwiple.com
Globalization The public perception is that the companies reaping the rewards of globalisation are beyond reach of the rules that apply to everyone else. All the insecurities of globalisation fall on ordinary citizens. Philip Stephens, Financial Times, September 16, 2016 © 2016 Kwiple.com
Globalization … regionalisation, not globalisation, is the future. Rana Foroohar, Financial Times, February 21, 2022 © 2022 Kwiple.com
Globalization We are fortunate that, thanks to globalization, policy decisions in the U.S. have been largely replaced by global market forces. National security aside, it hardly makes any difference who will be the next president. The world is governed by market forces. Alan Greenspan, 2007 © 2016 Kwiple.com
Globalization We see repeatedly that when people anywhere are desperate, people everywhere are at risk. In a world where pandemic disease spreads from one continent to another in the span of a few hours, where terrorist attacks are more random and frequent, and where political crises trigger mass migration, it is in our collective interest to fight against the daily reality of poverty, sickness and frustration. Bill and Melinda Gates, Wall Street Journal, September 16-17, 2017 © 2016 Kwiple.com
Globalization We sell iPhones in over a hundred countries. We don't have an obligation to solve America's problems. Our only obligation is making the best product possible. Unnamed Apple executive quoted in New York Times, January 21, 2012  © 2021 Kwiple.com
Globalization Yes, our most recent round of globalization produced more wealth than the world has ever known. Unfortunately, as economist Dani Rodrik has pointed out, for every $1 of efficient gain from trade, there is typically $50 worth of redistribution towards the rich. The economic and political consequences of that are the key reason that we are now in a period of deglobalisation. Rana Foroohar, Financial Times, May 22, 2022 © 2022 Kwiple.com
Healthcare – One recent study shows that, between 1970 and 2016, the earnings that laborers received fell twenty-one per cent. But their total compensation, taken to in- clude the cost of their benefits (in particu- lar, health care), rose sixty-eight per cent. Increases in health-care costs have devoured take-home pay for those below median income. At the same time, the system practically begs employers to reduce the number of less skilled workers they hire, by outsoourcing or automating their positions. Atul Gawande, New Yorker, March 16, 2020 © 2020 Kwiple.com
Inequality While there are forces – among them, changes in technoloogy and globalization – that are increasing inequality, the markedly different patterns across countries demonstrate that policies matter. Inequality is a choice. It is not inevitable. Joseph Stiglitz, People, Power and Profits © 2019 Kwiple.com
Innovation  David Edgerton of King's College London,  Britain's foremost historian of technology, argues that “Only in techno-nationalist fantasies…does national invention drive national economic growth. In the real world, global innovation leads to national growth, and national innovation leads to global growth.” At most times and places, most of the technology which creates growth is imported from elsewhere, not made at home. The Economist, January 16, 2021 © 2021 Kwiple.com
Middle class Far be it from me to deny their value and importance, but a cell phone does not a middle class make. If one lives in a shack, in insalubrious conditions, with a volatile income that is barely above subsistence, and is unable to send his kids to school or offer to his family decent health care, it makes no sense to classify him as part of some imaginary “global middle class” because he can dial a cell phone. Branko Milanovic, The Haves and the Have Nots © 2019 Kwiple.com
Polticial philosophy Many current observers of the inter- national scene foresee a kind of market triumphalism, in which economic forces prevent any nation-state from making real political choices. Self-determination becomes meaningless if the only option is to adopt policies that ensure maximum economic competitiveness. … if there really are no political choices for us to make, then political philosophy, whether national or international in focus, becomes useless, nothing more than fiddling while Rome burns. David Miller, Political Philisophy © 2018 Kwiple.com