A Search for Standards to Monitor Labor Conditions Worldwide - Monitoring International Labor Standards: Techniques and Sources of InformationNational Research Council Washington: National Academies Press, Paperback, 291 pages; ISBN: 0309091349, $43

S. Prakash Sethi

Business Ethics Quarterly, 2006, vol. 16, issue 2, 271-287

Abstract: A strong argument can be made that globalization and the unrestricted flow of capital, goods, and services leads to the creation of wealth and prosperity among participating nations. Comparative advantage allows both the industrially advanced nations and developing countries to maximize their gains from trade and investments. The current wave of globalization is not the first, nor is it likely to be the last. There have been waves of globalization in the past: in the United States (1870–1890 and circa 1970), Western Europe (1890–1913 and 1950–1992), and Japan (1913–1938). They all eventually petered out because of their adverse impact on the social infrastructure of the countries involved.

Date: 2006
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