It is true that the multinational corporations moved their businesses to regions where they can find cheap labor and increase their profits. It caused lot of dislocations, loss of jobs and anxiety in the developed countries. Bernie Sanders, who is the most credible and honest crusader for the working class, writes in today’s NYT

“We need to fundamentally reject our “free trade” policies and move to fair trade. Americans should not have to compete against workers in low-wage countries who earn pennies an hour. We must defeat the Trans-Pacific Partnership. We must help poor countries develop sustainable economic models.”

It is very confusing to understand how the poor countries will improve their living standards without selling their products at better price in rich countries but still lot cheaper if same product was made in the developed country. And how the consumers, especially poor and middle class, in rich country will benefit if they have to pay lot more for a product if they can get same thing cheaply made abroad? A significant portion of rich countries’ economy depends on export of high tech and sophisticated products to poor countries and how one sided flow of products will be helpful and acceptable to poor countries?

Globalization is the byproduct and natural phenomenon of advances in technology and free flow of information that empowers the consumers everywhere to buy the best at minimum price. The corporations are using the same resources of modernity to advance their interests and increase their profits.

Arguments to stop globalization are nothing more than shouting in front of a runaway train to stop it. And real culprit may not be the Globalization itself, but the greedy corporations who enrich CEO but do not share the profits with labor. The solution may lie in taxing these corporations at higher rates, share profits with labor; and spend tax dollars on infrastructure, retraining labor force and provide needed safety net for the displaced workers.