"Global corporatism" is the takeover of the U.S. government by multinational corporations. It is accomplished with the use of lobbyists who spend enormous amounts of money persuading legislators to regulate in the multinational's favor. This is at the expense of the American citizens who elected 'representatives' to represent their interests.
There is a revolving door between public officials, elected public servants, and lobbyists. Many lobbyists are former members of Congress. Former White House staffers and other public officials became lobbyists after their good and faithful service to their constituents. It's an inherently corrupt system.
In many cases, the legislation favoring the corporations is written by the lobbyists and corps themselves.
As a result, the U.S. has become a consumption economy stimulated only by record federal budget deficits and (formerly) a housing 'boom'. At the same time, we've got skyrocketing energy and health care costs, higher interest rates, lower real wages, job insecurity and a disappearing middle class.
Some of the most damaging results of this historic ripoff will be seen in the so-called 'free trade' policies. We don't make anything anymore. We import nearly everything and have a total trade debt of some $5 trillion. Our dependence on foreign oil is only exceeded by our dependence on products manufactured in other countries.
We're in debt. We're borrowing billions$ everyday to pay for all this imported stuff, AND, we'ver got a national debt of $10 trillion (and growing). 'Free trade' is a big lie. American industry can't compete with the cheapest labor in the world- workers making less than than $1 hour.
Th original sales pitch was that since we're a technology bases economy, we didn't have to worry about the loss of millions of manufacturing jobs. We should leave those to overseas workers and concentrate on our 'huge' technology lead. But that (somehow) hasn't worked out. We are not a world leader in the export of manufactured anything. Not automobile, not computers, nor electronics, no nada, except agricultural products, and that's about to change, too. So we'll soon be dependent on the rest of the world for everything, including food.
The U.S. Congress and every president in the last 30 years have sold us out. That's essentially what 'global corporatism' is about.
