We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
from Part V - Conclusions
Introduction
As argued in chapter 1, we are interested in the economic consequences of globalization, where this term refers to the growing interdependency between nations and firms through international trade and factor mobility. Throughout the book, we have focused on international trade and capital mobility. Although labour migration does occur as well, both other forces are clearly dominant. In box 13.1, we briefly reflect on the labour migration issue. In chapter 3, we concluded that international trade increases welfare. In chapter 7, we reached a similar conclusion with respect to international capital mobility. At the same time, it became clear that globalization does not necessarily make everyone better off. In general, there are both winners and losers.
Box 13.1 Globalization and international labour migration
As explained in the preface (p. xxii), labour migration is not a main focus in our analysis of the global economy. In chapter 3 we briefly analysed labour migration. The effects are rather similar to international capital flows (see chapter 7). Still, at least in the public globalization debate, labour migration is a prominent issue, with increased fears in developed countries that domestic labour markets are becoming subject to fierce international competition. Low-skilled workers in particular worry about competition from low-wage countries. The discussion in the main text focuses on the role of trade in final or intermediate goods. This is not the only form in which globalization might affect the position of the low-skilled workers, however; migration can also be a factor. […]
To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
