This is a simply amazing debate from 1994 whereby Sir James Goldsmith outlines with superb detail the downside of unfettered global trade liberalization and more or less calls the next 15 years with stunning accuracy while Laura Tyson, then chair of the Council of Economic Advisers under the Clinton administration, blathers on in an incredible show of utter foolishness.
How do you like the "facts" now?
Listen closely to the last 6 or 8 minutes where Goldsmith talks about the risks of derivatives and the speculative nature of the financial system and its implication for the real economy... simply genius... really pretty amazing and almost shocking accuracy... remember this segment was from 1994.
