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I mean, division of labour and comparative advantage lead to specialization which leads to loss of resilience. Since Labour is the least mobile of the factors of production it is also the one that bears the brunt of the consequences of lack of resilience when the conditions change. Labour is people which means it is the one factor of production where ethical considerations are most important. You can't have resilient local economies and, at the same time, global pressures towards specialization.

I could try to write a diary about this, but it would be exclusionary.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Carrie (migeru at eurotrib dot com) on Wed Jan 25th, 2006 at 01:51:05 PM EST
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