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  • The price of globalization

    01/10/2004 1:09:27 PM PST · by sarcasm · 107 replies · 178+ views
    International Herald Tribune ^ | January 10, 2004 | William Pfaff
    PARIS The jobless recovery in the American economy, weakly echoed in Europe, reinforces complaints in all the Western industrial countries that employers and stockholders enrich themselves while workers' wages fall or remain static. Defenders of free trade irritably reply that outsourced jobs will be replaced by those demanding higher skills, and that workers should go out and retrain themselves. The contrary argument is summarized in a recent article by Senator Charles Schumer and a former Treasury official, Paul Craig Roberts ("Exporting jobs is not free trade," Views, Jan. 7). The argument is that capital, technology, ideas and jobs now all...