more on As It Tries to Cut Costs, Wall Street Looks to India

[Dave Farber <dave () farber net>]

From: John Pickens <jpickens () sprynet com>

The book "One World, Ready or Not: The Manic Logic of Global Capitalism" by 
William Greider has some interesting, if not controversial, perspectives on 
the global economy, and how we really have not escaped from the norms of 
human exploitation of ages past (just the identities of the players have 
changed).  At any rate it suggests we are benefactors (victims) of macro 
trends that span national identities and boundaries.

Footnote: Interestingly I recall once hearing a senior (sales) manager of a 
low cost manufacturing opportunity say "see we use only 18 year old girls 
in our factory - their minds are not cluttered with the distractions of 
family living." This was an opportunity that claimed to manufacture at one 
tenth the cost of the leading competitive nation (national and corporate 
identities not disclosed).

The publisher's review follows (Barnes and Noble version):

Pub. Date: January 1998
Publisher: Simon & Schuster Adult Publishing Group

From the Publisher
The global economy is the leitmotif of the end of the twentieth century. 
Driven by the logic of modern capitalism, the global economy, a product of 
the Third Industrial Revolution, is a wondrous free-running system that is 
reordering the world as it transforms the lives and economic prospects of 
workers, corporations and nations. Having traveled the globe and talked to 
factory workers, corporate CEOs, economists and government officials, 
Greider contends that the global economy is sowing "creative destruction" 
everywhere: while making possible great accumulations of wealth, it is also 
reviving forms of human exploitation that characterized industry one 
hundred years ago and raising profound questions about the relevance of the 
nation-state in the face of impersonal market forces. Greider explains the 
dynamics of the global economy in terms of human struggle of diverse 
peoples and nations, rich and poor alike, facing a multiplicity of 
opportunities and dangers. As manufacturers in search of greater returns on 
investment move their assembly lines to low-wage countries, the 
globalization of industrial production is resulting in excess supplies of 
goods and labor, which, in turn, exert downward pressures on prices and 
wages. The deregulation of cross-border capital flows has opened new 
opportunities for currency traders while allowing unfettered speculation on 
a scale that can overwhelm the resources of even major governments. 
Meanwhile, the high interest rates that global investors charge to finance 
the growing debt of rich nations threaten the modern welfare state, with 
the attendant risks of class conflict and social chaos.

More reviews, including some readers who disagree with the logic of the 
book, can be found at:

http://search.barnesandnoble.com/booksearch/isbninquiry.asp?isbn=0684835541#REV

J 

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