Reich's Argument Against Economic Globalization

Karl Marx was mostly against economic globalization because amongst other things, he believed it harmed local industry and caused a disintegration of local styles and customs. Reich would have countered those fears by assuring Marx that whereas the changes were inevitable, the changes would be for the better. In his essay “Why the Rich Are Getting Richer and the Poor, Poorer,” Reich says that developing nations hire American civil engineers to advise on building roads and dams. And even “several nations emerging from communism have even hired American economists to teach them about capitalism.” Reich states that “the most important reason for this expanding world market and increasing global demand for the symbolic and analytical insights of Americans has been the dramatic improvement in worldwide communication and transportation technologies.” Even though the third world is changing and becoming more homogenized, at least it is changing for the better for its people. Reich does not particularly approve of the new economy that he describes, but he does accept it as a form of economic evolution. He details how it would be “unseemly” for executives who set the terms with the labor unions to “take home …show more content…
Reich sees that as the American corporations sold their goods and services all over the world, the purchasing power of the American worker became less relevant whereas the workers world wide have secured more power on the global