Ad Mogul Maurice Saatchi Says Globalization Has Been Disastrous For Consumers

Advertising legend Maurice Saatchi, co-founder of Saatchi & Saatchi and M&C Saatchi SAA, +5.32%, has written a new book titled “Orgasm,” which challenges widely held beliefs in politics, society, and finance. In an interview with MarketWatch, Saatchi shared his views on the negative impact of globalization on consumers and the state of American leadership.

Saatchi, who has worked on campaigns for companies like Toyota TM, Procter & Gamble and British Airways, argues that the rise of giant global corporations has led to an imbalance of power between individual customers and these businesses. “Something has gone wrong with Mrs. Thatcher’s wonderful concept of the free market,” he said, referring to former British Prime Minister Margaret Thatcher’s economic policies.

“From competition, better products and services are supposed to emerge. Unfortunately, it hasn’t worked out like that largely as a result of globalization,” Saatchi explained. He believes that the end result of competition in a globalized world is the end of competition itself.

Saatchi also criticized the current state of American leadership, saying that the rest of the world looks up to America for inspiration and guidance. “We want to hear that. Didn’t President Reagan say America must never allow itself to be placed in a position of moral inferiority?” he asked.

When asked about his most proud ad campaign, Saatchi pointed to his work for Thatcher’s election as British prime minister. “It changed the country. I don’t know if it changed the world but it certainly led to a tremendous period for Britain and for the Conservative Party,” he said.

Saatchi’s book “Orgasm” presents 21 popular “lies” and his version of the truth, leaving it up to the reader to decide what to believe. The title refers to what he calls “an orgasm of the mind,” the explosive awareness that comes when a long-held belief is busted. Saatchi hopes the book will inspire readers to engage in Socratic dialogue and challenge their own assumptions.