Good piece by William Greider over at The Nation about Ralph Gomory, former IBM CEO, who, seven years ago already, wrote a book of heretical analysis of global trade. According to Gomory, global trade – and specifically the freedom of US-based multinationals to move production off-shore – ultimately hurts the US economy. In other words, the profit motive, a fundamental of the machine of global economics, eventually hurts the national interest.
To Gomory it is a systemic problem in urgent need of reform. Read further.