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| Authored by: David Mandelzys on Wednesday, April 06 2005 @ 02:55 PM CDT |
Ok, I admit I was lazy and only skimmed the beggining of the Friedman article at first, I felt guilty after and read it in full.
Friedman is very right about some things, for example way what is happening in the world in terms of where production (of goods and services) is taking place......But now we're getting away from theoritical and into Case studies, India is a good example because it's HUGE and has a mix of policies (neo-liberal and Keynesian). They actually just kicked out their neo-liberal gov. not long ago......
Here's some good articles to articulate my views further.
REALLY GOOD HISTORY OF CAPITALISM!
www.fpif.org/papers/03trade/official_body.html
www.newamerica.net/index.cfm?pg=article&DocID=1883 (make sure to pay attention to the excerpt below, but it won't makes sense unless u read the rest)
"If outsourcing was “inexorable,” as Joe argued, it wasn’t quite a deus ex machina. It was driven by human beings who wanted to capitalize on global economic opportunities, and made choices to that end. Joe and Randy loved Harish and their other Tigers, perhaps even as much as the Tigers loved them. Still, as they argued to their clients on Wall Street, judgments uninflected by personal alliances are the most reliable kind. The Tigers often wondered why, after five years, Joe still lived in a hotel. But he, better than they, understood that conceptual attachments are necessarily fungible ones—able, when provoked, to move elsewhere.
In May, India’s incumbent political class was thrown out of national and local office by citizens who had been excluded from globalization’s spoils. In Tamil Nadu, in a demonstration of unprecedented consensus, voters delivered all forty legislative seats to Chief Minister Jayalalithaa’s opposition, the “pro-people” party. Although election day was an Indian national holiday, many offshoring professionals, including Tigers, worked straight through it, needed, as they were, in the West. Within the week, the Indian stock market crashed—the biggest one-day drop in the institution’s hundred-and-twenty-nine-year history. Like most of the country’s meritocrats, Harish was stunned. “Perhaps we cannot have leadership for a modern world until our country has fewer millions beneath the poverty line,” he wondered on the evening that the results began to come in.
Joe and Randy, who had no money in the Indian stock market, emerged better off from the political turmoil than their deeply invested Indian competitors. Moreover, Randy had just that week negotiated twenty-five million dollars in financing, after which the firm acquired a British outsourcing rival. Joe and Randy will soon be operating in three more countries. Joe explained, “You’ve got to diversify your geopolitical risk.”
Competition is good, Harish told himself, and change too, whether or not it feels so at first. He tried to concentrate on a new class of trainees—men and women who were just beginning to learn the meaning of “What’s up?” and other American puzzles, and all of whom he wanted to see win. It was far too early for them to learn that their yearning word, “exposure,” had another, disquieting definition. "
Enjoy!
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