What is the definition of 'golden straightjacket'?

Globalization advocate Thomas Friedman Quote: "The Golden Straitjacket is the defining political-economic garment of globalization. The tighter you wear it, the more gold it produces."

According to Friedman, in order to fit into the Golden Straitjacket a country must either adopt, or be seen as moving toward economic growth. For Friedman, this means the decentralizing of government, the privatizing of industry, and the elimination of tariffs and other obstacles to foreign investment. Learn more here.

In the news, Thomas Friedman has written a column on the disconnect between normal human Americans and policy elites on the matter of the proposed Syrian intervention. Read more at The Huffington Post.

Updated on Tuesday, September 24 2013 at 09:06AM EDT
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