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Izikiel43today at 2:07 PM3 repliesview on HN

Globalization was great for poor countries, not so much developed economies.


Replies

js8today at 2:17 PM

No it wasn't. Look at Joseph Stiglitz (Globalization and Its Discontents) and Ha-Joon Chang (Bad Samaritans, Kicking Away the Ladder) for counter-examples.

intendedtoday at 3:11 PM

Oh come now - globalizations was great at the regional level.

It was not that great for sub groups within developed nations.

The original thesis believed that people would be retrained into other equally well paying roles.

Turns out people can’t retrain into new domains, and led to under employment.

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nutjob2today at 2:37 PM

This isn't correct. The deal is that the poor countries get development and increased employment, and the rich countries get lower prices. Generally speaking both types of countries get richer.

That some workers lost their jobs is a symptom of any change. I don't know why people always get upset people losing their jobs. It's like death, if no one died relatively few people would be born. If you resist job losses you reduce overall employment and economic development.

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