Absolutely hilarious that people don't think that this will just cause more and more conflict within the borders of the disenfranchised. Great economic theory in textbooks, in reality it will just lead to domestic and international conflict. People don't care much for meritocracy if their livelihoods or, more importantly, their status are (is) at stake.
But then again comments like yours are akin to those who didn't see trump, brexit and deglobalization coming a mile away.
Can't wait for the decade of the 2020s to see how it plays out.
Excellent remark. The report card on globalization thus far is a hollowed out economy in the west with rent-seeking and the profits of globalization floating around in financial assets in a sterile fashion.
Even the new conservatives are waking up to this. It's far better that the west employ these new protectionist approaches and reindustrialize their countries. China isn't just producing cheap Hasbro toys. They are increasingly moving up the value chain while America moves down and its people are employed in increasingly low productivity jobs. Our old elite sold us out.
Thankfully some of the elite have figured this out. The rest are still reading their 2000s-era textbook telling them some abstract idea of globalization is great. No thank you. That's how you get a worse Trump.