The COVID pandemic is not the first disruption to US supply chains and will not be the last.
In her new book, Homecoming: The Path to Prosperity in a Post-Global World, financial journalist Rana Foroohar examines what it really takes to localize the economy in this country.
“These globalized, very fragile, highly ‘efficient’ supply chains are enriching Wall Street but starving Main Street and driving small farmers out of business,” says Foroohar. says financial journalist Rana Foroohar.
Rana speaks to the likes of Joe Maxwell, an independent farmer in Iowa who says he’s seen firsthand how globalized corporate ownership has transformed food production.
“Their whole purpose in life is to do whatever they can for a shareholder, for the investor. That’s why we need a government,” says Maxwell. “We need protective measures. We need safeguards that allow the market to function so that opportunities exist for people.”
Today, On Point: Creating Stronger Industries Closer to Home. Rana Foroohar on localizing our economy.
Guests
Rana Foroohar, global CNN analyst. Global business columnist and Associate Editor of the Financial Times. Author of Homecoming: The Path to Prosperity in a Post-Global World, Don’t Be Evil, and Makers and Takers. (@RanaForoohar)
Jack Beatty, On Point news analyst. Author of Age of Betrayal: The Triumph of Money in America and editor of Colossus: How the Corporation Changed America. (@JackBeattyNPR)
book excerpt
Excerpt from “Homecoming” by Rana Foroohar. Courtesy of the publisher Penguin Random House. All rights reserved.
related reading
New York Times: “Globalism has failed to deliver the economy we need” – “There is so much general confusion, if not outright fear, about the state of the world economy. The war in Ukraine, volatile gas prices, skyrocketing mortgage rates, the ongoing fallout from the Covid-19 pandemic and the looming recession – all these factors seem to be mixing in chaos.”
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