Saturday, April 20, 2013

Globalization here to stay

For those interested in physics, globalization and how globalized we are here is an interesting article by Charles Davi in the The Atlantic titled "How Globalization went Pop and what it means for workers."
"The diffusion of economic power unleashed by globalized supply chains and modern communication is already having profound and unexpected effects on the global economy. As I wrote last month for The Atlantic, income disparities are growing in developed nations as the premiums for high-skill labor grow, while accessible low-skill labor becomes more plentiful and less valuable. The returns on capital are growing to dominate the returns on labor in developed nations as industries increase their use of technology and automation. Only time will tell whether the trend of increasing economic diffusion persists, but the enormous volumes of time, money, and labor invested in the infrastructure of global trade suggest that many people are convinced that globalization is here to stay, likely causing economic activity to become more diffuse over time."
Globalization is here to stay - the question perhaps is how does one engage with it?

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