The problem with Globalization

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.

Comments:

I couldn't agree more ...recent metrics are clear evidence of this making sense.

Posted by isaac rozenfeld on January 21, 2009 at 01:10 PM EST #

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