Is global economy a colossal failure?

American workers were better off when they were isolated from the troubles in Europe. Now U.S labor force is competing with cheap overseas labor and the U.S stock markets are being dragged down by European debt crisis.|||I'd have to agree with your assessment. All that it did was enable banks to turn the world into a roulette wheel.|||Well go back to the 1920's and the American economy was far more isolationist then. It still didn't prevent the crash and slump in the US economy both at home as well as the global economy as a whole. Protectionism never really works either as you normally end up shooting your self in the foot. For example if America starts heavily tariffing foreign goods then other countries will simply do the same to American goods. As happened during the 1920's and 30's and is seen as a reason it took America longer to recover due to it stifling it's own export potential.|||Heck no!... not for the winners, you have witnessed the largest transfer of wealth for the lower classes to the top 1% in the history of the world........Alfred! More Champagne for the Horses, and make it vintage this time.....it's Bonus season.....|||It's very hard to immigrate to the US.