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Globalization or globalism is the contemporary economic strategy that maintains the world marketplace should be free of local, national or regional limits. Hi! I’m Rebecca Brayton and welcome to watchmojo.com and today in part one of our interview with Dr. John Ralston Saul. This author and essayist discusses what filled his 2005 book, the Collapse of Globalism and the Reinvention of the World.
John Ralston Saul: In 1999, I was in Australia and I had a meeting with the head of the Reserve Bank of Australia and I came out of there and that night, I gave a speech on national television and in the middle of the speech, I said, “You know I think globalization is one the way out. I think it’s falling apart.” Wheels are coming off the bus and it’s going to give a whole reasons. I think about three years later, I did a cover of Harper's Magazine in the states, saying that it was essentially over and then I wrote the book, The Collapse of Globalism about four years ago I guess. And you know people were surprised and I’ve been around a while so some people felt they had to listen and they were curious. I don’t think they quite believed me because there’s really nobody in the economics community who can imagine an ultimate world. Even the ones who disagree are inside the logic. They just editing on the edges. Ping! Guess what! It’s collapsing pretty fast. But I think it already was. And I think the problem now is that the focus is almost entirely on the money markets and the financial system. It’s a conundrum because the financial system is the problem. It’s one of the big problems. It’s like this gigantic flight of meaningless money. It doesn’t do anything except sort of have fun with itself. It’s really pretty self indulging but the bridge economy has been restructured around that all of our economies have become partly restructured around. We’ve given up doing all sorts of things on the basis of a delusion misunderstanding that which was that money is real. Money isn’t real and money isn’t something that makes other things real. And so it’s very big and if you let it collapse, that has all sorts of impatience. You don’t want it to collapse. But if you don’t let it collapse, what you’re doing is stabilizing delusion, stabilizing inflation. And in order to do that which is what they’re trying to do, you basically have to freeze a lot of the rest of the economy in place, in an artificial place in order to hold up this ridiculous soufflé that’s falling. They’re trying to inject egg whites into a falling soufflé. It doesn’t work, right? The intellectual cleansing in the university economics departments has been so severe over the last couple of decades that even though there are some people saying interesting things, they were no where near power than to get the men who are in power is virtually impossible because of all the gates. So you’re seeing that basically the advice for change is coming from the people who created the problem. It’s ridiculous and even -- in the United States who will soon be gone, thank God, you know is one of the originators of the problem. But equally will Obama be able to find somebody who isn’t one of the originators of the problem. Prime Minister of Britain who’s being treated as a hero was one of the originators of the problem.
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