All this points to a sobering conclusion that few in Europe are willing to admit: the vaunted social market has come to the end of the line, in the age of information and globalization.

CENTERFORSECURITYPOLICY: Farewell to Europe

Another finding is that in in the current recession failure and risk are characterized not by discussions of financial risk but by discussions of appropriate product and service development, and the risks inherent in globalization, as well as the drift in the global economy that sees Western enterprises losing market share as part of a global redivision of labor.

FORBES: What Can We Learn from a Culture of Failure?

Labor gaveth, capital tooketh away in part due to the significant shift to globalization and the utilization of cheaper emerging market labor.

FORBES: If Even Bill Gross Of Pimco Gets This Wrong What Hope For The Rest Of Us?

Favela Leste is located in Diadema, one of the municipalities in the MRSP hardest hit by the loss of industrial jobs resulting, in part, from the opening of the market for freer trade, one of the hallmarks of globalization.

FORBES: Curfew In The Favela

This is but one example of the slow, steady job loss that has been happening for the past 20 years in the U.S., facilitated by technology, globalization and constant pressure to maintain profits in a highly efficient market-based economy.

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