Prognostication is a tricky deal which makes this, written in 1986, pretty impressive: "Firms will locate and relocate their production on a global scale...the employment prospects in each country will therefore depend on each nation-states ability to create attractive business climate; and the ability of any governing group to secure reelection will depend in important measure on the employment situation in the period preceding the election.
In this form of accommodation the democratic structure of the state is rendered vacuous...When economies are so thoroughly integrated in the world economic system that the supply of investment in any given economy is highly responsive to small differences in the expected rate of profit, the effective range of choices my be reduced to a single set of policies, a global equivalent to Henry Ford's "You can have any color car you want , as long as it is black."
The downward pressure on wages and intensification of work in the advanced capitalist countries, would probably foster a sense of unfairness and hostility toward the rules of the game.A heightened sense of conflict..enforcement costs would mount..an upward drift in the level of unemployment...uneven development of economic progress..world monetary and trading system..are prone to recurrent crises...toward a costly interventionist and militaristic foreign policy. It might prove difficult to mobilize nationalist sentiment on the part of the victims of the global liberal model in the service of making the world safe for multinational capital flight."
Samuel Bowels and Herbert Gintis Democracy and Capitalism
Written twenty five years ago! And of course they couldn't have predicted a Tea Party-FOX-Mega-church to put in exactly that kind of service.
Oh yeah, you have to listen to this Always on watch and WC April.01 broadcast with guest Midnight Rider. Everything you ever wanted to know about oil pricing and social security from people in the know! Without a touch of irony they go for half the show about how stupid other people are! Isn't Storm Watch an Aryan group by the way?
Bachman in 2012!