Economic Freedom vs. Economic Security?
How should the U.S.A. respond to the impact of globalization on economic stability, security, and foreign policy? The Dubai Ports controversy is a prime example of the fact that capitalism doesn't take homeland security into account when decisions are made. Interestingly, foreigners cannot own U.S. television stations, yet at the same time approximately 20% of the Pentagon's contracts are with foreign companies (many of which involve sensitive technologies). Many experts say that limiting these contracts would reduce quality and increase costs. The solution posed by this article is simply to make Americans feel a little more secure in the midst of the rapid globalization that is taking place. It's hard to feel "economically secure" when your job could be offshored to China at any time. At the same time, protecting U.S. jobs with tariffs and quotas only hurts our standard of living.