Alan Tonelson makes a forceful argument that globalization, with its attendant rush by multinational corporations to cheaper sources of labor, has been partially responsible for what he sees as a shift from high-wage to low-wage industries in the U.S. He points out that U.S. exports to Third World countries are dominated by manufacturing and intermediate goods that are used to build the industrial capacity that then produces goods for direct export to the U.S. The net result: lost jobs and a growing U.S. trade deficit. See the rest of this review here.
The Race to the Bottom, by Alan Tonelson
Posted April 12th, 2008

