Financial Crisis Belies Myth of US Independence

Countries make the mistake of assuming that they can pick their way through globalization – that they can block products from other countries yet sell in those markets, or set rules for others to follow while intending to ignore those same rules at home. No community or country, as economic units, can escape financial decisions made thousands of miles away, argues Edward Goldberg, international consultant and marketing professor. The US has tried to express its exceptionalism by delaying action on climate change, providing subsidies to some agriculture sectors, not accepting jurisdiction of the International Criminal Court and other areas. But the economic laws of supply and demand do not recognize the self-willed exceptionalism, explains Edward Goldberg, writing for the Washington Times. Goldberg concludes, “The financial crisis has pressured Mr. Bush to move belatedly from dogma to practicality and to confront the reality that America is part of the globalized world.” Insistence on exceptionalism, an ignorance about global connections, is not bliss. – YaleGlobal