[GOP_1900AD]

The problem with late 20th century thinking (which is what has led us to this problem in the first place) is that it looks at the world from a purely economistic perpsective. Many who promote this view quote Adam Smith out of context. Adam Smith, I agree, described certain aspects of free trade. However, the qualifiers were many and he assumed that there would still be national sovereignty, will to power, and patriotism in the mix. As we know, all three of those are under assualt by the enemies of the West without, and the globalist utopians within. Most globalist utopians I know are actually quite apolitical and are most assuredly part of the so called "3rd way" movement. When we align ourselves with them, we are not taking a particularly conservative postion. I'll stick my neck out and make an explicit prediction. By the end of the 21st century, the latter day globalist utopians will be thoroughly discredited after a return to nationalism, loss of comprehensive strength of Western countries, and, overreliance on debt financing, set the stage for great war. Those who look solely at the economic dimension, and couch all geopolitical strategy based on the false assumption of a Western dominated economic globalism, miss key variables which determine overall success or value.

[neutrino]

I suspect you're right. Also, if I'm not mistaken, I believe that Adam Smith projected that the invisible hand would lead to very small profit margins over time - one can see this in microcosm with ebay merchants.

What's saved us so far is innovation. But with China and India training new scientists and engineers - and our own people languishing - I wonder who'll do the innovation of the future?

Perhaps Japan, where our electronic toys originate. Or China, that has built a maglev train...while we plan to create a plan to build one.

[XBob]

60- excellent evaluation - too many ignore too many parts of the equation and are giving away the keys to the kingdom.

[junta]

Bump I do believe that Smith was a Scottish nationalist who wanted to use free trade to break the yoke of the nasty English.