Globalization of Labor Markets and the Growth Prospects of Nations
The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations. This paper contends that there is however a structural shift beneath the global economy that is now reaching a critical mass and that accounts for many of these crises, despite the diversity of manifestations. This shift is occasioned by two kinds of technological changes—the familiar labor-saving and what is here called “labor-linking.” The paper argues that these changes (1) create a short term window of opportunity for developing and emerging economies, but (2) in the long run constitute a major, multi-lateral policy challenge for all. To meet this challenge we have to think outside of the box and conceive of innovative policies. The paper briefly speculates on what those policies might be.
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Format: | Journal Article biblioteca |
Language: | en_US |
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Elsevier
2016-05-27
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Subjects: | developing economies, emerging economies, structural shift, technological change, labor-linking technology, multilateral policy challenge, |
Online Access: | http://hdl.handle.net/10986/24822 |
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dig-okr-10986248222021-05-26T09:05:19Z Globalization of Labor Markets and the Growth Prospects of Nations Basu, Kaushik developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations. This paper contends that there is however a structural shift beneath the global economy that is now reaching a critical mass and that accounts for many of these crises, despite the diversity of manifestations. This shift is occasioned by two kinds of technological changes—the familiar labor-saving and what is here called “labor-linking.” The paper argues that these changes (1) create a short term window of opportunity for developing and emerging economies, but (2) in the long run constitute a major, multi-lateral policy challenge for all. To meet this challenge we have to think outside of the box and conceive of innovative policies. The paper briefly speculates on what those policies might be. 2016-08-09T14:12:25Z 2016-08-09T14:12:25Z 2016-05-27 Journal Article Journal of Policy Modeling 0161-8938 http://hdl.handle.net/10986/24822 en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank Elsevier Publications & Research :: Journal Article Publications & Research |
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developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge |
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developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge Basu, Kaushik Globalization of Labor Markets and the Growth Prospects of Nations |
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The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations. This paper contends that there is however a structural shift beneath the global economy that is now reaching a critical mass and that accounts for many of these crises, despite the diversity of manifestations. This shift is occasioned by two kinds of technological changes—the familiar labor-saving and what is here called “labor-linking.” The paper argues that these changes (1) create a short term window of opportunity for developing and emerging economies, but (2) in the long run constitute a major, multi-lateral policy challenge for all. To meet this challenge we have to think outside of the box and conceive of innovative policies. The paper briefly speculates on what those policies might be. |
format |
Journal Article |
topic_facet |
developing economies emerging economies structural shift technological change labor-linking technology multilateral policy challenge |
author |
Basu, Kaushik |
author_facet |
Basu, Kaushik |
author_sort |
Basu, Kaushik |
title |
Globalization of Labor Markets and the Growth Prospects of Nations |
title_short |
Globalization of Labor Markets and the Growth Prospects of Nations |
title_full |
Globalization of Labor Markets and the Growth Prospects of Nations |
title_fullStr |
Globalization of Labor Markets and the Growth Prospects of Nations |
title_full_unstemmed |
Globalization of Labor Markets and the Growth Prospects of Nations |
title_sort |
globalization of labor markets and the growth prospects of nations |
publisher |
Elsevier |
publishDate |
2016-05-27 |
url |
http://hdl.handle.net/10986/24822 |
work_keys_str_mv |
AT basukaushik globalizationoflabormarketsandthegrowthprospectsofnations |
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1756574419789021184 |