As many reports showed the economic damage that segregation did previously, so do modern reports show the damage done by big box capitalism, which is essentially a modern form of mercantile colonialism. Fair Trade or Equal Exchange and local economic development are good starting places. Where do we go from there to allow each person to develop his or her full potential as a human being?
Inequality from 1947 to Developing mkts today
“The Economic Reason
One of the principal economic problems facing us and the rest
of the world is achieving maximum production and continued
prosperity. The loss of a huge, potential market for goods is a
direct result of the economic discrimination which is practiced
against many of our minority groups. A sort of vicious circle is
produced. Discrimination depresses the wages and income of
minority groups. As a result, their purchasing power is
curtailed and markets are reduced. Reduced markets result in
reduced production. This cuts down employment, which of
course means lower wages and still fewer job opportunities.
Rising fear, prejudice, and insecurity aggravate the very
discrimination in employment which sets the vicious circle in
Minority groups are not the sole victims of this economic
waste; its impact is inevitably felt by the entire population.”
These explanations of how segregation impacted the US
economy apply equally to how resource drain from Developing
(fka Third World) economies impacts the world economy toay.
This is the chief Economic reason that we need Fair Trade and
equal exchange laws. All the world suffers when part of the
world is denied equality, via policy or path dependent history,
as the case may be, we urgently need to cooperate and share
with the entire world our technologies and our resources
because unless we do so, we are all limited.