CAN GLOBALISATION DEPRESS LIVING STANDARDS IN THE WEST?

E. J. Mishan

Economic Affairs, 2005, vol. 25, issue 3, 66-69

Abstract: This article argues that unguarded optimism among liberal economists in the West as to the social and economic consequences of globalisation is misguided. Increased and freer international trade may depress living standards in the West as firms move production to those countries where factors of production (including labour) are cheaper and immigrants from poorer countries depress wages in wealthier nations.

Date: 2005
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