Without anyone noticing it as we hard dissilusioned British punters bemoan the loss of great marques like Austin. Wolsey, MG and Triumph and the sale of iconic car makers like Rolls Royce and Jaguar into foreign ownership but Britain has become a hub in the global web of car and engine production. This year, 1.4 million cars and more than 3 million engines will be produced here in the UK, most of them for export. Research-and-development spending in the car industry is rising, while Tata's purchase of Jaguar Land Rover turned out to be one of the Indian conglomerate's most profitable investments. A reader might well think this is a modern success story, a triumph for globalisation and if and when the economy rebalances, this type of invard investment driven business will grow even further. Statistics are always misleading and often are just wrapping for blatant lies however. What the economy needs is jobs and they type of inward investment we are getting suits the suits the but brings little benefit to the wider economy. Fewer than 150,000 jobs are directly involved in the making of all those cars and engines and the numbers have been gently falling for years as modern production techniques transform factory productiob. Tata is building a new engine plant in Wolverhampton that will be a world leader in low-carbon engines; it might create up to 750 jobs, hardly a fleabite in an area of high unemployment. Meanwhile some firms are creating many jobs McDonald's has announced that it will be creating another 2,500 jobs in 2012. Hamburger flipping creates jobs and these jobs do require more than a modicum of skill and capacity to handle often truculent customers. But MacJobs are never likely to be highly paid, high-value-added jobs. Nor will McDonald's earn Britain much in the way of export revenue. Writing for an American op-ed blog recently, under the title Will Humans Become Redundant In Yor Lifetime I irrutated one commenter that he condescendingly pointed out to me that conservative economic commentators had been saying since the 1960s people in the developed nations must specialise if they want to be successful. In the first part of my reply I politely pointed out the sector of society hardeds hit by technological advances are certain professions, skilled engineers, semi skilled factory operatives, clerical workers and such. Computers and robots can be programmed or built to do their work. Schleppers, burger flippers and office cleaners are not paid enough to warrant replacing them. A similar pattern is emerging across the developed nations, raising urgent questions about whether the modern economy can create the kind of mass employment at worthwhile wages needed to keep the burgeoning population gainfully employed. manufacturingThe manufactoring core has migrated to low labour cost economies across the globe and the businesses that have replaced it, online sales, high tech businesses, aggressive advertising and new media create few jobs in a heavily populated country country such as Britain. There is also the service sector, which is either integrated with the manufacturers or, as is the case with fast food, which provides self-standing services in its own right. Beyond these, there's a vast web of "cream-skimming" services associated with brokerage and agency – everything from investment banking to headhunters, estate agents and football agents – taking a cut on some transaction or deal but adding precious little value despite sky-high personal rewards. Some have called this "agentist" capitalism. And then there are the growth industried of this recession-cum-slump, online gambling, car boot sales and the sex trade. At a dinner with former Apple chief Steve Jobs, President Obama asked him if the US's most successful and profitable company would ever bring some of the work it is generating back to the US. Never, replied Jobs. Apple, like Britain's car industry, is embedded in its global production networks. It is not that long ago real capitalists on whose businesses communities depended actually felt some responsibility for those communities and for the families that earned their living from one or more members \working in that business. On of the problems with global capitalism is that where once a company headed by a capitalist, let's say the Swedish electronics firm Eriksson, founded by Lars Magnus Eriksson in the late ninteteenth century. The controlling interest stayed with members of the Erisspon family until the 1970s. Similarly the British textile firm Courtaulds and US car maker Ford. Those capitalists may have been paternalistic but they had some sense of responsibility for their workers and some understanding that it was the workers who made them rich. Now large corporations includinf those mentioned are owned by a web of investment houses, hedge funds, banks and other corporations it is hard to identify a controlling interest There is nobody making decisions, the whole thing is run by a committee of smooth faced yuppies. All the sharehlding outfits are concerned with is short term profit. Is it any wonder people feel alienated? ************************ Cross ownership http://en.wikipedia.org/wiki/Media_cross-ownership_in_the_United_States The people who created the crisis will not come up with the solution
Politics Global Cross Ownership
http://www.thejc.com/news/israel-news/55158/israel-moves-reduce-power-big-business *********************** Orthodox economists, those who cling tightly to the dogmas of the Harvard Business School and the oligarchic collectivism doctine of those whose agenda is pushing us towards a global government will maintain that without globalisation, and the new economic structure and accompanying pattern of reward it requires, recovery from the slump will be impossible. This "enabling" globalisation is itself unrealistic, it would rely on countries such as Germany, China, India and Japan – which do most of the producing in the new global supply chains – building up never-ending trade surpluses, while other countries carry ever increasing deficits, with no mechanism to relgulate either side as they both charge at an ever accelerating rate towards to opposite extremes of infinity. The banking system is obliged to redirect the surpluses as loans to those nations that cannot make ends meet.By exploiting regulatory loopholes to create an unregulated shadow system, which has now imploded, the bankers have exposed the self destruct mechanism at the heart of the GDP driven global economy. George (Gideon) Osborne has written in the Financial Times that we are not enduring a crisis of capitalism but a crisis in confidence, without pausing to wonder whether cofidence in the system has evaporated because there is little of substance in the system on which confidence might be based. Lord Mandelson, once the Labour government's cheerleader for free markets and globalisation, last week recanted. He said on BBC Radio 4's Today programme that he would never now, as he did in 1998, say he was intensely relaxed about businessmen becoming filthy rich doing whatever they chose. Quite right too, most of those businesmen he encouraged to get filthy rich were involved in variations on the Ponzi scheme business model. Introducing a new paper "Making the third wave of globalisation work for us all", by the centre-left thinktank IPPR, Mandelson urged a strengthening in global governance along with a serious commitment at home to industrial policy, a robust social safety net and regulation of errant business. Business as usual for a Labour p[olitician then after the market loving, capitalism adoring aberration of 1997 to 2010. If these things did not happen, he warned,, he warned, the legitimacy of globalisation and modern capitalism would become profoundly questioned. Ahem, they have Peter, they have. Enlightened self-interest must prompt governments and business into a major change of direction. Instead of the short termism that has been the guiding philosophy of modern capitalism we need to return to the ethics of the old capitaslists who cared about their staff and their communities because they had built their businesses or worked in them alongside fathers and grandfathers, because they wrre part of the communities from which the labour force was drawn. The decline of productive, high-employment capitalism is most marked in the English-speaking countries of the "Anglosphere" – the countries most committed to the notion that markets are brilliantly wise and never need challenging. It is no conincidence that the same nations of the Anglosphere lead they way (in fact are isolated) in calling for a global culture of politically correct "inclusiveness." These are the economies where the economy of middle men has gone furthest, the productive sector has shrunk most and where the resulting inequalities of income and opportunity have become most acute. They are also the nations where the rights and equalities industry has been most effective in hamstringing businessmen. All economies have their agentist service sector and their deadleg bureaucracies, but in the UK and US those parts of the economy have become bloated and gluttonous. There has indifference, especially in the UK, to building the business environment that delivers productive enterprise. Instead, the doctrine has been to do the opposite, to impose impossible rules and restrictive, often mutually contradictory laws regarding the treatment of certain minorities in the workplace. The consequent "squeezed middle" to borrow a phrase from the current Labour Party leader Ed Miliband, does neither businesses nor their staff any good. Many tasks that could be done in house are outsourced, often to dodgy contractors who are quite willing to employ illegal immigrants or to pay "cash in hand" to those able to work for less than minimum wage because they are moonlighting while claiming unemployment benefits. These are not isolated cases, in fact so widespread is this abuse of employment regulations and so incompetent are the agencies (also contractors) charged with policing them that many of the biggest users of illegal labour are government departments. In cases which have been successfully prosecuted it is often found the workers in this sector are little more than slaves. Doubts about modern capitalism are as much doubts about agentism, outsourcing, offshoring and other practices which circumvent local regulations as they are about globalisation. There are multiple threats to confront. While apologists for the new capitalism talk of enlightened self-interest nobody seems to know exactly what elightened means. While globalists like Lord Madeson and the disgraced former IMF chief Dominique Strauss - Kahn call for counterbalancing international forces to hold government, business and banks to account they miss the point. Such regulatory bodies atre just another arm of the new academic - bureaucratic elite and so would take the governance even further away from where it needs to be. What is most noticable about the protests in Greece, Portugal, Italy and Ireland against the austerity packages is that they are firmly national. There has not been one high-profile joint press conference of the leaders of those nations. Political groups in all three countries that oppose the measures are strongly defensive of national sovereignty, of repatriating powers ceded to international bodies. The protesters, broadly conservative in their politics make no common cause with the trade unions which are solidly behind the internationalist politically correct left and are calling for more meddling in domestic affairs by uneleccted bureaucrats of supra national agencies. Clearly the globalizers believe the only thing needed for globalization to work properly is a unified plan. If we set up a world government, a world army, a corporate and buracratic world tyranny how easy it will be to just ignore the Little Englanders, the annoying rump of nationalistic French Gaullists, the Don't Step On Me brigade in the USA, Italy's anti E U focal point Northern League. Think of the money to be made when nations are just relics of a less civilised past rememberd only in pageantry and everything is controlled by unheard of $1trillion per annum corporations that have their corporate headquarters one of the thousands of pigeon holes in a Cayman Islands mail drop address. It will be like Brave New World and 1984 all rolled into one. Fantastic idea. I'm sure Mr Hutton will remain in his privileged position in the bureaucracy of the intelligentsia and misinformation and simply transfer to become a propaganda minster for the PR machine of the new world order, ahem sorry "unified international plan" or INGSOC if you are a fan of Orwell. Globalization stinks and is dangerous for those who love individualism and personal liberty. In the real world what sense can it possible make to build car engines and transmisssion systems in the UK, ship them to India to be dropped into car bodies, ship those units back to Germany for fitting out and testing and then ship the cars to the USA to be sold. What possible sense can it m,ake to truck milk in refrigerated tankers from Hungary and Slovakia to the UK while British dairy farmers go bankrupt. What happens there is while our government is not allowed to subsidise UK farmers, the European Union to which we contribute £46 million a day subsidises farmers in Eastern Europe making it economical to sell to british distributors are ridiculously low markets. Any system like this will almost certainly be abused with catastrophic ends, far worse than what we are experiencing in our economies now. Handing over even more unbridled power to a global elite of politicians and "experts" is terrifying. History has proved time and time again that politicians are the some of the worlds most twisted, cruel, self centred and manipulative people on the planet. Those who profess blind faith in "Free Markets" should understand markets are never free. The chains and lock may be invisible but trade has always been nlocked down by the ruling elite. RELATED POSTS:
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The Jobs Crisis
The Debt Crisis
Tumbleweed City West Midlands
A Chronice Of Decay