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( 1 comment — Leave a comment )
steepholm
Feb. 11th, 2017 06:45 am (UTC)
Globalisation has been a way of magnifying the weaknesses of capitalism generally. High executive pay, to take one example from that article, has been justified by classic supply-and-demand arguments: we need to pay ridiculous salaries to our "best people" because otherwise they will go elsewhere. (The last person I heard say this in terms was Paul Nuttall, oddly, but God knows it's been a familiar mantra over the years.) The potential ridiculousness of the salaries is correlated to the size of the market, and when the market is global the salaries can be very ridiculous indeed.

But I agree it's not globalization's fault as such - just the toxic combination of globalization with doctrinaire free-market capitalism.
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