yesterday Greenspan admitted that he was surprised and "partially" wrong about the free market. When will economists admit that they are wrong about globalization? A problem with globalization is it encourages over specialization in what a country does best. Over specialization is bad because when the environment changes you die, you see this in the fossil record, generalizers survive changes (I have a BS in Geology). A Haitian neighbor agreed this is a problem, when Haiti specialized in Bananas for example and then Honduras grew them cheaper, where did that leave Haiti?
A country should not over import , a country should have its own farmers, manufacturers , scientists, and engineers.
I couldn't agree more ...recent metrics are clear evidence of this making sense.
Posted by isaac rozenfeld on January 21, 2009 at 09:10 PM EST #