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The Race To The Bottom: Why A Worldwide Worker Surplus And Uncontrolled Free Trade Are Sinking American Living Standards
The Race To The Why A Worldwide Worker Surplus And Uncontrolled Free ...
- GenresEconomics
248 pages, Paperback
First published January 1, 2000
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Displaying 1 - 2 of 2 reviews
March 15, 2022
While it is a book from 2000, it is THE book that gave the pundits the phrase "Race to the Bottom" when commenting on the USA and the global market. It does take time to read. Not because it is complex but because it gives you so very much to think about and take in. Some things I looked up the modern trends and statistics for today and see that we really have a massive , global, house of cards for trade policy in the USA. No country can come out of the way business and trade and politics are intertwined today. Everyone is racing to the bottom where poverty of the masses will make Third World populations with a wealthy elite out of us all.
It all leads to more and more debt for the First World countries and, while some countries of the Third World get some jobs, they are usually only because their leader keep poverty wages and the trade back and forth is unequal because no one can afford to buy the imports from the USA. So many of the Western world is following our lead and it truly is a house of cards with banks and stock companies getting rich along with certain mega corporations. Meanwhile, their risks are paid off if they lose by taxpayer dollars because in the shadows, our tax dollars have been put forward to cover their loses.
All of this is explained in this book. Favored Nation status carries a lot behind the scenes that most Americans have no clue about. Now that it is 22 years later, it looks even shakier than it did then. I will be looking for anything more recent this author has to say about it. But when it all crashes, even if only partly, the recession that will hit the USA is not one most people will be ready for.
It all leads to more and more debt for the First World countries and, while some countries of the Third World get some jobs, they are usually only because their leader keep poverty wages and the trade back and forth is unequal because no one can afford to buy the imports from the USA. So many of the Western world is following our lead and it truly is a house of cards with banks and stock companies getting rich along with certain mega corporations. Meanwhile, their risks are paid off if they lose by taxpayer dollars because in the shadows, our tax dollars have been put forward to cover their loses.
All of this is explained in this book. Favored Nation status carries a lot behind the scenes that most Americans have no clue about. Now that it is 22 years later, it looks even shakier than it did then. I will be looking for anything more recent this author has to say about it. But when it all crashes, even if only partly, the recession that will hit the USA is not one most people will be ready for.
June 1, 2008
Tonelson's work was predictive when it was written. Now it seems that it was prophetic.
Displaying 1 - 2 of 2 reviews