William Greider: Wall Street Journal Discovers Globilization's Downside (The Nation)

BLOG | Posted 03/28/2007 @ 1:55pm
WSJ Discovers Globalization's Downside

William Greider

This just in from today's Wall Street Journal: "Pain From Free Trade Spurs Second Thoughts." Can you believe it? A "downer" story on globalization from the mother church of free-market capitalism. Who knew it was so bad? Actually, many millions of working Americans knew and have known for many years. They were regarded as mindless "protectionists." WSJ gave them the back of its hand.

Think of today's lengthy, revelatory story as a massive "correction." It led the newspaper's front page and recounted the heavy doubts accumulating among establishment free-traders about what they have wrought. The actual destruction from globalization is worse than anything they had imagined and it's going to get far worse.

The Journal is playing catch-up, to put it kindly. This is the bad news that newspaper was never willing to face frankly and publish. Now that it has, however, the impact will be truly significant--mainly by opening the way for other newspapers (think New York Times and Washington Post) whose editors and reporters have been similarly afraid to tell the whole truth about free-trade dogma's destructive impact on American prosperity. I look forward to many more confessional "corrections" from our leading media. .....(more)

The complete piece is at: http://www.thenation.com/blogs/notion?bid=15

This time it's completely earnest:

I'm shocked!

:wow:

that "free trade" has bludgeoned the working class enough and may start to hurt the monied few. How are they going to take our money if we don't have any jobs?

Bill

And the friggin out-sourcers don't even clean up the coop when their butchery is done. That's just another cost of having hosted economic privateers in our midst.

had elaborated a little more on the actual arguments rather than just issue an "I told you so". Still, it is significant that the wsj is saying anything. When their editorial page reflects this reality, then we will know that we are really in trouble.

(edited for spelling)

could only be of footling nature in comparison.