The Liberal World Order and the Job-Offshoring Backlash—In Structuralist Perspective

Terutomo Ozawa
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Terutomo Ozawa: Emeritus Professor of Economics, Colorado State University, Fort Collins, CO 80523, USA; Research Associate, Center on Japanese Economy and Business, Columbia Business School, New York, N.Y. 10027, U.S.A

Global Economy Journal (GEJ), 2018, vol. 18, issue 3, 1-11

Abstract: Many factors have contributed to the current wave of anti-globalization sentiments in the advanced world. This paper focuses on one of such factors, MNEs’ job-offshoring through their overseas networks of operation and its impact on the US working class. To this end, the “ladder of economic development a la Schumpeter” is presented as an analytical model from a structuralist point of view. Within this framework, the relations of innovation-driven structural change, transmigration of industries from more advanced to emerging economies at the hands of MNEs, and the globalization-afflicted working class and communities in the US are examined as closely intertwined, co-evolutionary phenomena. Four MNE-related sources of globalization angst and social costs are then discussed. The paper concludes with a much-needed analysis of the economic rationales for President Trump’s “if you sell here, produce here” jawboning on MNEs.

Keywords: liberalism; MNEs’ job-offshoring; anti-globalization backlash; Trump’s jobs-growth policy; presidential jawboning (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1142/GEJ-2018-0026

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