The middle class grew dramatically, income inequality decreased, and corporations generally enjoyed labor peace.
But corporations enjoyed a huge loophole: The stockholders had to do so only if they were assessed special "dues or fees."
Suddenly, corporations enjoyed all the rights and sovereignty previously enjoyed only by the people, including the right to free speech.
To date, however, the court has not said that foreign nationals or foreign corporations enjoy the same rights as Americans.
But when options are exercised, corporations get a tax deduction and enjoy the proceeds, which, I might add, is another plus for shareholders.
To be truly beneficial, globalization must give people the same freedom of economic and social self-determination that corporations enjoy.
Higher wages could be absorbed by higher productivity or by a narrowing of the stupendous profit margins that corporations have enjoyed for years.
What corporation doesn't enjoy it?
Today, however, corporations enjoy virtually the same umbrella of constitutional protections as individuals do.
Even corporations enjoy freedom of expression.