World trade is the linkage of various spots in the world where the wealthy live. And the wealth flows there, and only to a few wealthy families. Does it enrich the human population as a whole? No, it does not.
Benefits are experienced primarily by major traders.
There is also, of course, the “middle class.” They experience many of life’s sorrows. Their share of this short-lived global wealth deposit is declining.
They do not have much of any excuse. I am not sure who those persons were in the first place. (My parents, I guess.) The middle class was supposed to be a demographic, a group, a legitimate slice of the demographic, with its own characteristic qualities. That was the idea anyhow.
BUT I think not: The only real demographic is “winners vs. losers,” where “losers” make less than $100,000 per year. More for New York.
New Yorkers are knows for their (possible or putative) intellectual achievements, but economics tells us that it is a trade hub.
Which is, of course, quite shameful
Recommended:
CAPITALIST
is making money sufficient for a healthy society? It is a society that makes da money…
It functioned adequately (viably) in the past. But today, in our society, capitalism is not that creative at all. The way world economics works is globalization.
Just making money is not sufficient (see previous April 10 post, for the other version).