Summary Of Let's Admit It: Globalization Has Losers

In his article, “Let’s Admit It: Globalization Has Losers,” published in the New York Times in October 2011, writer Steven Rattner mentions one of the main issues that has affected the world in the last decades, globalization. However, he discusses a completely new perspective that most of the people ignore in their daily basis. After the global financial crisis in 2009, some economic specialists have been more involved to adjust the economy back to its normality. Under those circumstances, Rattner mostly addresses the relation between the decline of jobs in the United States, and the settlement of industries in other countries where the work force is cheaper. Steven Rattner correctly explains the effects of globalization by talking about
As a consequence, some countries where the wages are less expensive had taken advantage of the situation. In addition, the cost of goods and products had also been increased during the same period of time. Despite the fact of negatives arguments about globalization, Rattner mentions some opportunities that United States could exploit, such as the development and support of leading industries like military protection, aeronautics, media and education. Also, he adds a role that the government could assume, but he states their lack of interest to accomplish economic law reforms. Considering that Rattner was involved in the automotive industry, his experience makes a huge call to every citizen concern about the consequences of globalization tied to economic
After he got the attention of every reader by mentioning some facts, he claims that there is a guilty that causes the decline in wages. Then, Rattner concludes with several solutions that could be implemented by industries and the government. His structure, to put it another way, effectively engages the audience to continue reading through the lines by offering a sequence of problems and solutions. For that reason, Rattner’s article is well-organized and easy to follow. His matter of style and language makes possible to be accessible for people with general knowledge in economics; he never goes into terms that can be only understood by