Globalization

[astroron (Ron)]

Has the current financial crisis shown the worst effects of Globalization
Do the benefits outweigh the bad

[andrew2008]

Tough question Ron.

Globalization has almost certainly exacerbated the problem but i see it as a necessity if the human race is to move forward. Sub-prime loans, greed and incompetence, and our level of indebtedness has created this mess in the years since 2001. Mostly the issues arose in the US but don't forget Australia has also played its role as one of the leading countries for personal debt. Rampant, irresponsible growth at all costs in my opinion must be stopped, and the world needs to take stock of the cost of this on people and the environment and start living more sustainably. Globalization will be necessary for this to happen. A new world system based on responsible growth, with concern for human cost and sustainability must slowly be adopted. People are working more than ever and more miserable as a result. The CEO's of the worlds biggest companies need a reality check after record growth which i don't believe the world will ever see again no matter how hard governments try to force it to happen by throwing trillions of tax payers moneys at the very people who got us here.

We can't keep digging massive holes in the ground at the cost of very good farmland at a time when population growth worldwide is exploding and we are already destroying the farmland we have with outdated techniques and overfarming. We in Australia are seeing the effects of this, it is a crime what has happened to the Murray-Darling system. Don't forget this much water wasn't enough so we pumped it out the great artesian basin raising water levels and we are now losing land from salinity issues. Record heat waves in the south and record rain in the north. New technologies are ever closer to being able to supply the power we need from those black stuffs companies and governments love so much, oil and coal. Geothermal, solar, wind and coal to gas is within reach if only government would forget the money made from royalties and ignore the lobbying done by their constituents.

We either learn from these problems and move forward to create a better more sustainable world or governments keep throwing trillions of dollars at the people who created the mess and nothing changes in the long run and we live with the consequences. Personally i hope for the sake of my granchildren's granchidlren we use this as an opportunity to change for the better. To do this we will need a global society focused on working towards the same goal.

Sorry, may have got a little off track.

[astroron (Ron)]

I don't think you where getting of trackmost of what you said is what I was inferring to.
If I live to my allotted four score years and ten I dread to see what the state of the world will be by then, if today is any indication to go by

[stevejack (Steve)]

Originally Posted by andrew2008

We either learn from these problems and move forward to create a better more sustainable world or governments keep throwing trillions of dollars at the people who created the mess and nothing changes in the long run and we live with the consequences. Personally i hope for the sake of my granchildren's granchidlren we use this as an opportunity to change for the better. To do this we will need a global society focused on working towards the same goal.

Sorry, may have got a little off track.

I agree with a lot of what you've said - I think we are going through (and will continue to go through) teething problems as the world adapts to globalisation. Sure things are pretty turbulent at the moment but this is what forces change. We may continue to get it wrong for a while yet but eventually it will find a blanace (which not everyone will be happy with - and rightly so).

This is all assuming that the issues caused by it don't lead to something really catastrophic in the meantime

It's a change that had to happen, for better or worse.

[Hagar (Doug)]

But where did all the money go? Someone must have a pocket full.

[PeterM]

Originally Posted by Hagar

But where did all the money go? Someone must have a pocket full.

It never really existed, crazy but we still have to pay for it. Our kids, grandkids and theirs will paying for recent excesses for a long long time. I think we are moving ever closer to an inevitable one world government that will make the really tough decisions for the good of all the planet and that won't sit well with some in the short term.
PeterM