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John Ralston Saul: “There is no reason to save the banks”

The irony is that globalization has led to the opposite of what it promised. Promised competition, and caused the return to oligopolies; promised renewal of capitalism, and represents a return to mercantilism, promised the end of ugly nationalism [argues that there is also a positive nationalism], and has brought more nationalistic era from end of the Second World War. Promised growth, we have no growth; promised jobs, no job … and so we can go down the list. Nothing promised happened. Continue reading