In a stunning study released today, one which effectively refutes all its prior conclusions on the matter, McKinsey slams the establishment's status quo thinking and admits that the economic gains of changes in the global economy have not been widely shared lately, especially in the developed world. In the report titled "Poorer Than Their Parents? Flat or Falling Incomes in Advanced Economies" it finds that prospects for income growth have deteriorated significantly since the financial crisis, and that the benefits from globalization are now over:…
To be sure, just like the IMF's U-turn on austerity after the failure of the second Greek bailout, McKinsey was unwilling to admit it has flop-flopped on such a critical position. Instead, Dobbs described the institute's stance on globalization as an "evolution," not a reversal. "We’re not saying throw it all out. ... It’s about a sophistication in our thinking," he said. The McKinsey Global Institute still sees value in offshoring, immigration, trade, and so forth, Dobbs said: "Generally we’re pro those, but there’s a however, and we need to be more aware of the however."Same can be said for the foreign policy and military policy aspect lead by the US as the world's remaining superpower and only functioning empire.
It's all part of a planned effort to impose liberalism globally to promote transnational corporatism, with all government being configured as economic agents subject to market forces under rules imposed by "the free world" because "freedom and democracy" when it is about opening markets and and securing resources.
Now that the pain is being shared by ordinary people of the home countries, the pushback is mounting.
"The Resentment Will Explode" - In Dramatic Twist, McKinsey Slams Globalization
Submitted by Tyler Durden