A friend of mine from India tells a story about driving an old Volkswagen beetle from California to Virginia during his first year in the United States. In a freak ice storm in Texas he skidded off the road, leaving his car with a cracked windshield and badly dented doors and fenders. When he reached Virginia he took the car to a body shop for a repair estimate. The proprietor took one look at it and said, “it’s totaled.” My Indian friend was bewildered: “How can it be totaled? I just drove it … [Read more...]
Trump Trauma
While we mourn the tragedy that fear, prejudice and ignorance “trumped” in the US Presidential election, now is the time to go deeper and broader with our work. There is a growing recognition that the scary situation we find ourselves in today has deep roots.To better understand what happened—and why—we need to broaden our horizons. If we zoom out a bit, it becomes clear that Trump is not an isolated phenomenon; the forces that elected him are largely borne of rising economic insecurity and … [Read more...]
Why are my highly educated friends so ignorant about trade?
Trump is a catastrophe, but so was the TPP.Since Donald Trump was elected President of the United States, I’ve found myself talking for the first time with a lot of my 20-something friends about trade agreements.My friends didn’t vote for Donald Trump. Most are from “liberal” parts of the US. They went to good schools for 12 years, worked hard, got good grades. Many went on to top colleges and universities, places like Stanford, Yale, NYU, UCLA.And yet most of them know almost … [Read more...]
Trump’s Populist Deceit
While misogyny, racism, and ethnic taunts were conspicuous signposts on Donald Trump’s path to the White House, much of that road was paved with “populist”, “anti-establishment” and “anti-globalization” rhetoric. Trump’s inaugural address featured numerous populist lines (e.g. “What truly matters is not which party controls our government, but whether our government is controlled by the people”), attacks on the status quo (“The establishment protected itself, not the citizens of our country”), … [Read more...]
How Globalization Divides Us: Perspectives on Brexit from a Dual Citizen
When I woke up on June 24th and checked the news, I cried. Along with millions of people around the world. I’m a diehard believer in independence, freedom, democracy, and strong local economies. For some, the Brexit result represented those things. If that had been the reality, I would’ve supported it too. But like every other choice offered in the global economy these days, Brexit was a false one. Getting out of Europe does nothing to address the real problems in UK society—or the world. We’re … [Read more...]
Why Global Capital Fears ‘Brexit’
A referendum in Britain will soon be held on the ‘Brexit’ question. While the leadership of the ‘Leave’ and ‘Remain’ camps portray their positions as fundamentally different, neither side is challenging the stranglehold of corporations that run the global economy. Their econometric, growth-based arguments focus primarily on which alternative will enable Britain to cut a better deal within a corporate-controlled global market. If we are to have any hope of avoiding further climate chaos, fear, … [Read more...]
Globalization and the American Dream
“... America is a new kind of society that produces a new kind of human being. That human being – confident, self-reliant, tolerant, generous, future-oriented – is a vast improvement over the wretched, servile, fatalistic and intolerant human being that traditional societies have always produced.” — Dinesh D’Souza, What’s So Great About America Implicit in all the rhetoric promoting globalization is the premise that the rest of the world can and should be brought up to the standard of living … [Read more...]
Odious Debt (and what we can do about it)
Do mortgage debtors, credit card debtors, and student loan borrowers have a moral obligation to pay back their debts? Is it unethical for debtor nations to default on their loans?Most folks, thinking themselves to be honorable people, feel a strong moral obligation to “make good” on their debts, to honor their debts, to follow through on what looks very much like a promise to repay.Today, however, a burgeoning debt resistance movement draws from the realization that many of these debts … [Read more...]
Current Trade Treaties: “a revolution against law”
A respected human-rights expert at the United Nations, Alfred-Maurice de Zayas, has joined the global movement opposing trade treaties like TPP and TTIP. And he has novel and powerful legal arguments.In international law, de Zayas says, there is a hierarchy of agreements, and at the top is the UN Charter: “in case of conflict between the provisions of the UN Charter and any other treaty, the Charter prevails.” In other words, trade treaties that lead to a violation of human rights — or … [Read more...]
The Global Economy’s “Impeccable Logic”
By Steven GorelickEver since the Occupy movement coined the terms “the 1%” and “the 99%” to point out disparities of wealth and power, the gap between rich and poor has received a lot of attention. In his highly-regarded 2014 book, Capital in the Twenty-first Century, for example, Thomas Piketty’s central thesis is that wealth inequality is bound to increase in modern capitalist economies. This was underscored by a recent Oxfam report, which tells us that the world’s 85 richest people now … [Read more...]