Mike Steger of Promethean Action rejoins the Economic Review to examine the economics behind globalism and why he believes the model has become a losing proposition for the United States—and ultimately for nations around the world. Steger explains how globalization shifted production, capital and economic power across borders, hollowing out domestic industry while creating systems increasingly dependent on cheap labor and multinational corporate interests. We also discuss his argument that these economic incentives drive mass immigration policies that place additional pressure on prosperous nations while failing to create the productive investment needed to lift poorer countries out of poverty.  Lastly, we examine a provocative development involving the World Bank and the changing role of multinational corporations in the international system. Steger explains what he describes as corporations attaining standing comparable to nations, how this changes the traditional relationship between corporations and sovereign governments, and why it matters for national sovereignty. What happens when enormous multinational corporations operate across borders with economic and institutional power rivaling that of countries themselves—and who ultimately has the power to set the rules?

Follow Mike Steger's work at PrometheanAction.com.

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