Bring globalization under control
Why is this important?
I live in Ohio, a typical rust belt state. I have watched the effects of globalization all around me. The problem with globalization is that it unleashes all the defects of laissez faire economic beliefs that we already knew about. The fact that labor has no chance against capital. Pure markets leads to exploitation of labor. In the modern economy of mass production you need mass consumption or you will go into a recession. When the value of labor all goes to capital, aggregate demand is destroyed. This situation has led our government to become a plutocracy. Until globalization is brought under control, the governments attempts to fix the economy are just band aids.
