You'll get little argument in the current regime of austerity with the concept internationally that the economic world has changed. Huge advances in global communications and digital technologies have levelled once ancient barriers between nations and between the whole world. Rivers of capital flow around the world like blood in a body searching for the best returns. Market reforms in India and the great economic engine of China, trading blocs and giant multinational corporations have brought great challenges to our economy. One thing is certain, the world is getting smaller and we are still limping along in neutral.
Globalization has impacted our society, creatint cycles of demand and supply; the citizen can now get huge 50inch plasma televisions made in China right here in Britain. There is no doubt that globalization has brought great wealth to Britain in terms of our power to project ourselves internationally, but it also carries great risk. The great recession started in 2008 is an example of when wealth turns to risk, threatening all.
The conclusion I can gather from 2008, is that for many who control the levers of finance it has become too easy to pay CEOs of our largest companies huge salaries for low peformances. It has become easy for businesses to downsize, outsource and ship out leaving hard working families here in Britain in a permamant state of poverty. The fact is, over the past few decades we've seen economic growth but continued depressed salaries for the poorest of workers and huge corporate profits, but little or no share going to those workers who helped generate those profits.
In the 1960s the great Harold Wilson remarked that unless we plan for change, we will be burned up by it. Well the same is true now as it was then. We need to renew how we think about change and not just think to change.
That's the trap we fall into in Britain. We think about change, reform and renewal so much, we've lost the meaning of what we set out to achieve. This has resulted in the current tryanny of austerity that threatens the very fabric of our nation. I say just one thing: how about we trust the people themselves to understand how we change our country, instead of using our egos to pile into a course of action we later regret.Suggest a correction