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Here's historian Jerry Harris, in the Reader, six weeks ago:
[T]ransnational corporations and those who run them have less and less invested in any one particular country. They can make money anywhere, and the logic of capitalism itself drives them to lower their cost of production and increase their efficiency. If they don't do that, they become less competitive. They're driven to globalize, and as they do, they're less invested, for example, in the education system at home. They don't need as many engineers and scientists coming out of the United States when they can use Chinese, Indian, and Brazilian graduates at lower cost. The same logic drives their tax strategies. There are more corporate headquarters in the Cayman Islands than there are people there.
Here's the rest of what he had to say.