A half-formed thought on Globalism

[azekeil]

So the news over the past few months has been about (and really these should all be in quotes) austerity, tax avoidance by big corporations, UK taxes that unfairly target the poorest or least able to defend themselves and now the 'middle class squeeze' on children - that those middle class children of relatively affluent parents growing up can

Comments

[xidia]

There's a third option - comparative (not just competitive) advantage. Singapore pursued this par excellence on the advice of a Dutch (I think - might have been Dane) businessman when it transformed itself from a post-colonial entity with no natural resources to an economic powerhouse. It's harder for a country with an existing economy to do that, but I wouldn't go so far as to say it's impossible. It might well be impossible outside of an autocratic regime, however! Saudia is trying something similar with its city and industrial park building programme (and is rich enough that it doesn't materially damage the country's economy if it's all a giant white elephant. Whether that money would be better spent on the populace is a political one, not an economic one