Sir James Goldsmith: Prescience on the impact of Globalization
A short entry here. I ran across this 1994 interview between the late Sir James Goldsmith, an Anglo French financier, and Charlie Rose. During the early 1990’s, NAFTA and free trade was hotly debated and Goldsmith was against the free trade agreement for many of the reasons that we’ve now encountered as a result today. Essentially, Goldsmith argued that massive unemployment would be the result and that’s precisely what we’ve got on our hands now. The interview lasts about an hour and I’ve only included the first two of a total of six segments below. This man was a wealthy corporate raider mind you, but he tells it like it is and it’s very interesting to listen to his passionate argument against free trade and what he predicts it will do to labor in the US and other nations. I highly recommend listening to entire series, but these two below will give you a flavor of the entire interview. The second video includes a debate between Goldsmith and a Clinton administration official defending free trade. Looking back from the vantage point of today’s wreckage in employment due to free trade, one can see the holes in that official’s arguments promoting it.