Bombardier and Globalization Externalizing Costs at the Expense of Governments and Democracies

Bombardier and Globalization
Externalizing Costs at the Expense of Governments and Democracies

Nipawin - Tuesday, July 10, 2001 - by: Mario deSantis

$2.6-billion
deal
We have the news that Canada's Bombardier has landed a $2.6-billion deal to sell seventy-five of its popular regional jets to Northwest Airlines. The securing of this deal has been accomplished with the intervention of the Canadian government which has provided Norwest Airlines with at least a $1.2 billion loan.

the way
to do
Bombardier was in competition with Embraer SA of Brazil and both transnationals provided bids supported by governmental loans. This is the way to do business today in the one world wide global market, that is transnationals collude with governments to secure big business deals and in so doing these transnationals externalize their costs at the expense of governments.

full
employment
This is a far cry from the time when President Franklin Roosevelt applied the Keynesian economic theory of governmental deficit spending to untap the unused economic resources of the United States and provide full employment.

not
selectively
There is really no general theory of economics beyond our understanding that business must be conducted democratically on behalf of the people at large and not selectively on behalf of transnational corporations.

downsize
Today, Globalization is distorting our democracies as governments get bigger to assist their transnational corporations while internally both governments and transnationals downsize their people for the sake of global economic efficiency.

this is
a loan
To understand the intrinsic double talking of our political and business leaders I quote Canada's International Trade minister Pierre Pettigrew "this is a loan, Bombardier will not get a cheque, will not get a thing."

Bombardier beats Embraer for $2.6-billion deal with Northwest Airlines, CBC Canada July 9, 2001 http://cbc.ca/cgi-bin/templates/view.cgi?/news/2001/07/09/bombardier_010709


Bombardier and Globalization Externalizing Costs at the Expense of Governments and Democracies
Nipawin - Tuesday, July 10, 2001 - by: Mario deSantis
$2.6-billion deal	We have the news that Canada's Bombardier has landed a $2.6-billion deal to sell seventy-five of its popular regional jets to Northwest Airlines. The securing of this deal has been accomplished with the intervention of the Canadian government which has provided Norwest Airlines with at least a $1.2 billion loan.

the way to do	Bombardier was in competition with Embraer SA of Brazil and both transnationals provided bids supported by governmental loans. This is the way to do business today in the one world wide global market, that is transnationals collude with governments to secure big business deals and in so doing these transnationals externalize their costs at the expense of governments.

full employment	This is a far cry from the time when President Franklin Roosevelt applied the Keynesian economic theory of governmental deficit spending to untap the unused economic resources of the United States and provide full employment.

not selectively	There is really no general theory of economics beyond our understanding that business must be conducted democratically on behalf of the people at large and not selectively on behalf of transnational corporations.

downsize	Today, Globalization is distorting our democracies as governments get bigger to assist their transnational corporations while internally both governments and transnationals downsize their people for the sake of global economic efficiency.

this is a loan	To understand the intrinsic double talking of our political and business leaders I quote Canada's International Trade minister Pierre Pettigrew "this is a loan, Bombardier will not get a cheque, will not get a thing."


	Bombardier beats Embraer for $2.6-billion deal with Northwest Airlines, CBC Canada July 9, 2001 http://cbc.ca/cgi-bin/templates/view.cgi?/news/2001/07/09/bombardier_010709