Effects of the Global Economy

society. He is deeply concerned about what he sees as the decline of national concerns and goals, and the creation on an increasingly divided society along have/have not lines. He argues convincingly that the shared historical/economic/social concerns of the nation are disintegrating, and that the result will be a fragmented society. He asks important questions the nation must ponder if it is to stay afloat in the economically and culturally in the future:

Are we still a society, even if we are no longer an economy? Are we bound together by something more than the gross national product? Or has the idea of the nation-state as a collection of people sharing some responsibility for their mutual well-being become passe? (9).

Reich ultimately offers no hard answers to these questions, but he does describe clearly and in-depth the effects the changing global economic reality have had through the 1980s on the United States. As a high-ranking member of the Clinton Administration, Reich is in a position to put some of his ideas into action, but it is obvi

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es, and this will also have an impact on the disparity between the rich and the poor, the powerful and the weak: People fortunate enough to have had an excellent education followed by on-the-job experience doing complex things can become steadily more valuable over time, making it difficult for others to ever catch up. In fact, their increasing advantage may extend beyond a single generation, as their extra earnings are invested in their children's education and training. Such widening divergences may be endemic to a global economy premised on high-value skills rather than on routine labor or capital (109). If this situation is to be corrected, the most powerful entities---corporations---must take radical steps. The problem is that, because of the increasingly global economy, corporations have less financial motivation to care about national concerns and more motivation to care about global connections. Government officials such as Reich may care about the poor people, but governments can do little without corporate cooperation. Clinton recognized this vital relationship, and that awareness was a major reason for his election in 1992. Reich clearly advocates some sort of redistribution of wealth through taxation, but he is no
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Some common words found in the essay are:
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Approximate Word count = 1546
Approximate Pages = 6 (250 words per page)

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