Paul Craig Roberts, former Assistant Secretary of the U.S. Treasury, discusses how globalism relates to recession recovery, current U.S. economic realities, and “The Great Stimulus Debate.”
A quote from the article:
“As economists assume, incorrectly according to the latest trade theory by Ralph Gomory and William Baumol, that free trade is always mutually beneficial, economists have failed to examine the devastatingly harmful effects of offshoring. The more intelligent among them who point it out are dismissed as “protectionists.”
Full Article: Death By Globalism
The Guardian has a related article regarding the Institute for Policy Studies research showing that US bosses who terminated the most staff during recession earned more than their peers.