"We are living through a transformation that will rearrange the politics and economics of the coming century," says Robert Reich. As we move into the borderless economy, the notion of national products, national technologies, and national corporations will become increasingly meaningless. The only thing that will remain rooted within national borders are the people who make up a nation. This shift has enormous political implications, according to Reich. It means that the traditional idea of national solidarity and purpose can no longer be defined in purely economic terms. It also leads to fragmentation, Reich argues, as "those citizens best positioned to thrive in the world market are tempted to slip the bonds of national allegiance, and by so doing disengage themselves from their less favored fellows."
What we are witnessing today is the end of what Reich calls economic nationalism — the notion that the members of a nation succeed or fail together and that they share a responsibility for the economic well-being of their country. This has been the guiding logic of Western economic thought for the better part of two centuries, Reich observes. It has given us such concepts as gross national product, national economic growth, and national competitiveness. The trouble is that the picture presented by economic nationalism bears almost no relation to how the economy is organized today. "That the strength of the American economy is synonymous with profitability and productivity of American corporations is ... an axiom on the brink of anachronism." .. more .. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69268861
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