Globalization is the easy, undisciplined way to go with economics. Physical facts tend to supplant any kind of philosophical reasoning in economics.
There are great dangers in the global approach to economics with the risk of collapsing national sovereignties and properties of human rights. With planetary human overpopulation seeking to consume natural resources like a plague of locusts and some few environmentalists seeking to defend dwindling remnants, the 18th century free trade capitalist point of view of Adam Smith dominates reinforcing present maladaptive economic habits.
Globalization reminds me of that ramshackle converted warehouse firetrap in Oakland California (the Ghost ship fire) that caught fire and killed dozens of people inside. It was a great somewhat unplanned funhouse to be in until the lack of reasonable planning and the risks inherent in constructing such a ramshackle evolution caught flame. A nation should have secure borders and disciplined ecological economic planning to transform classical economics to ecological economics with minimal disruption to individuals and organizations on the way.
What exists instead of rational national ecological economic reform and planning is loose borders, cheap illegal immigration to replace labor supply and a quest for $15 minimum wage without much thought about the effects of that. It probably would send the remainder of any national manufacturing jobs overseas as far as possible because for each U.S. worker at $15 one could hire 7 foreign workers abroad at $2 hourly- and perhaps a couple besides with the extra costs of social security, unemployment etc. That global relocation of manufacturing and cheap labor pursuit is classical liberal economics of course, yet it is on a scale that can destroy nations as well as increase profit margins of global plutocrats trickling down the lowest common wage denominator and greatest planetary environmental cost possible.
Inventions of technology that are in some ways too great for the natural resources of the world to contain or host have shrunk those natural boundaries and limits to the size of vestigial abstractions safely ignored. Communists and the corporate plutocrat class and managers can simply consider abstract velocity of money, material, labor costs and personnel factors without regard to the externality of the natural ecosphere. Until the fall of mankind.
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