Dumping globalization is failing worldwide
Neoliberal dumping globalization is failing worldwide right now. The exploitation of poor countries and cheap migrant workers, wage dumping and social dumping on a global scale are leading us, the U.S. and worldwide to a dead end.
Dumping globalization has brought global competition for the cheapest, not the best, labor, services and products. Where is the downward spiral of lower wages and lower prices leading?
Economic growth worldwide was the goal, more value creation and economic power for all countries and all people worldwide, prosperity worldwide for more and more people. Instead, economic power is becoming more and more concentrated.
Cumulation of capital, concentration of economic power in corporations and cartels cannot be the goal of global and our economic policy.
Once a core of capital or power has formed, more and more of it accumulates. In terms of economic policy, we speak of cartels, monopolies and oligopolies.
Economically, it is recognized that capital and labor are two components of economic life that have opposing tendencies. If capital accumulates without restraint, this leads to the collapse of the system.
Global social market economy.
How to increase the mass purchasing power? How to increase the gross national product? How to make more people worldwide provide more services, produce more products and create more value? How can the global economy once again become the engine of prosperity for all?
With the social market economy, expanded to include its global component. Why has the CDU given up this their very own topic without need and neglected it for a long time, has instead run after so-called neoliberal state freedom slogans of the FDP?
Economy does not mean self-service of the corporations at the expense of the masses. Social market economy means purchasing power for all, prosperity for all, so that services and products are more in demand overall.
This is Ludwig Erhard's simple cycle of the social market economy. Now we need to think globally about this cycle of the social market economy, to implement it in global policy. We should start with this in Europe.
To the author: Otfrid white is Assessor jur., Ministerialrat a.D. and colonel of the reserve. After his administrative career, he worked in business for 21 years, including 14 years at SAP, Microsoft, Vision Consulting and Deloitte.
