Bill Hurley
Globalization Is
Killing The Globe: Return to Local Economies
In this article, it states how
globalization is not a good form of mending economies and that it is now
starting to deteriorate Europe after it has caused enormous amounts of damage
for the middle-class in America. “"Wealth"
is different from "income." Wealth is value, which endures at least for
some time. Income is simply compensation for work. If you wash my car for $10
and I mow your lawn for $10, we have a GDP of $20 and it looks like we both
have income and economic activity. But no wealth has been created, just income”
(Hartmann, page 1). This quote has a lot of significance to me because it
really puts the GDP in perspective for me and how America has been moving more
and more toward that analogy in the recent years. now I know that this is the
aspect of globalization is dangerous and could potentially hurt the economy of
the ones who aren’t apart of it or are actually left behind because of it. This
means the middle class of America. The small businesses, respected workers in
trades and manufacturers all around the U.S. are suffering because they do
their job for more money than the others who perform the same job 4,000 miles
away. There is the gap. The gap stands for how globalization makes the rich,
richer and the moderate citizen, to border-line bankrupt living on week-to-week
paychecks. This is outrageous to be honest and this should not be taken lightly
by anyone who understands these concepts. “Sticks on the ground has no
commercial value, but if you add labor to it by carving it into an axe handle
-- a thing of commercial value -- you have "created wealth"”
(Hartmann, page 1). This shows how the
GDP accumulates wealth but these trades that are producing things from things
that have no commercial value are now doing this overseas, in other nations
which is not a part of our GDP which loses us wealth. Furthering on this road
will only broaden the gap and leave the stragglers in the dust.
Globalization absolutely changes everything. This is an interesting article on how it impacts average middle class business owners and upper class Americans. Globalization is a definite flattener. Everything in the United States seems to be outsourced. There are very few products strictly made in the Unites States. Unfortunately this article states that the United Stated is hurting from globalization. This is very true. With outsourcing many companies are able to make their products out of the United States, for a much cheaper production rate. Even though companies are making their products cheaper and faster they are still mass-produced. The quality tends to not be top of the line. Working conditions are rough and unethical. Even though companies think they may be saving money, their also removing jobs here in the United States to be preformed, which leads to a higher unemployment rate. Globalization unfortunately can be a Win-loose situation I believe.
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