In Globalization 1.0, which began around 1492, the world went from size large to size medium. In Globalization 2.0, the era that introduced us to multinational companies, it went from size medium to size small. And then around 2000 came Globalization 3.0, in which the world went from being small to tiny.
The Golden Straitjacket is the defining political-economic garment of globalization. [...] The tighter you wear it, the more gold it produces.
I would say that in 2000, we understand as much about how today's system of globalization is going to work as we understood about how the Cold War system was going to work in 1946.
The reason that we are becoming less equal is because of the greater requirements, secure requirements, for a good job. This goes back to the '80s basically, this started changing as globalization and the IT revolution merged, and each started to drive the other.
I don't think we replaced the Soviet Union with Al Qaida. I think we replaced, we should have, Soviet Union with the merger of globalization and the IT revolution. I think it's that. That is the real challenge that we face today. Unlike the Soviet Union, it has no face, it has no missiles, but it is something that challenges every job, every city and every community.
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