ECONOMICS
Making Sense of the Modern Economy

ECONOMICS
Making Sense of the Modern Economy

ECONOMICS
Making Sense of the Modern Economy

Globalisation is the remarkable result of innocuous choices. Companies
in one nation choose to employ workers in another, and consumers in a
third country choose to buy the stuff they make. To put it this way is not
to diminish the technological innovations – from high-speed internet
links to standardised shipping containers – that have made such choices
possible and affordable. Nor is it to ignore the legislative effort – the
lowering of import tariffs and the lifting of foreign-ownership restrictions
– that has allowed these choices freer expression. But it is to
emphasise
that globalisation, a phenomenon that has generated such
controversy
and ire, is not the result of a low conspiracy or a grand
design.
It is rather the aggregate result of lots of people getting by, doing
what
they judge to be in their best interest given their circumstances.

Simon Cox