Globalization benefits the elite at the expense of the working class from "summary" of The Death of the West by Patrick J. Buchanan
Globalization has been a boon for the elite, as they have reaped the rewards of increased profits and expanded markets. However, the working class has not fared as well in this new globalized economy. While the elite have seen their wealth and power grow, the working class has faced job losses, stagnant wages, and increased competition for employment. The outsourcing of manufacturing jobs to countries with cheaper labor has been a particularly damaging consequence of globalization for the working class. Companies have sought to cut costs by moving production overseas, leaving many working class individuals without stable employment. This has led to a decline in job security and a weakening of labor unions, which has further disadvantaged the working class. Additionally, the influx of cheap labor from other countries has put pressure on wages for working class individuals. With more people competing for the same jobs, employers have been able to keep wages low, despite increases in productivity and profits. This has further widened the gap between the elite and the working class, as the former have seen their incomes rise while the latter have struggled to make ends meet. Furthermore, globalization has allowed the elite to exploit loopholes in tax laws and regulations to further increase their wealth. By shifting profits to tax havens and taking advantage of offshore banking, the elite have been able to avoid paying their fair share of taxes, leaving the working class to bear a disproportionate burden of funding public services and infrastructure. In this globalized economy, the elite have been able to leverage their wealth and power to influence government policies in their favor, further disadvantaging the working class. Through lobbying, campaign contributions, and other means of influence, the elite have been able to shape trade agreements, labor laws, and tax policies to benefit themselves at the expense of the working class.- Globalization has disproportionately benefitted the elite at the expense of the working class. As the gap between the rich and the poor continues to widen, it is clear that the current global economic system is inherently unfair and unsustainable in the long run.
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