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View Diary: This week in the war on workers (11 comments)

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  •  American companies are no longer American (0+ / 0-)

    Just as British companies are no longer British, Chinese companies are no longer Chinese, or Japanese companies are no longer Japanese.

    Most American corporations have over half their workforce overseas, and make over half their profits outside the US. GM sells more cars in China than it does in the US.  Germany is building steel plants in Alabama, while most of the Japanese cars sold in the US are made in the US.

    Economically, international borders are irrelevant, and previous measurements such as "balance of trade" are meaningless. We live in a global economy which is made up of multinational companies who belong to no government and owe loyalty to no state, and where the very idea of a "national economy" is outdated, outmoded and irrelevant.

    It's not the 1980's anymore.

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