The Mudcat Café TM
Thread #161249   Message #3831416
Posted By: Iains
09-Jan-17 - 10:06 AM
Thread Name: BS: Theresa May's new year message
Subject: RE: BS: Theresa May's new year message
Perhaps globalism was the wrong term. It is more a case of multinational companies creating the economic face of globalism. They have no national allegiance by definition. Unless tightly controlled they create environmental damage in their extractive role. They export production to the lowest cost base, employ armies of accountants to avoid taxation. Pursuit of profit is paramount no matter what the social cost. Obviously world trade must occur but the adopted methods of today of stateless economies of scale come with a huge social cost that is apparently the responsibility of no-one. Again it comes down to the legal entity of a corporation having no responsibilities other than pursuit of profit apart from local legislation at origin and destination that often seems woefully inadaquate.
It seems to me this system must inevitably self destruct at some point because pursuit of minimum cost must inevitably impoverish the market at some future point.