The Internationalization of Global Labor Markets

H. Peter Gray

The ANNALS of the American Academy of Political and Social Science, 1987, vol. 492, issue 1, 96-108

Abstract: The rapid industrialization of labor-surplus countries will present serious problems for the achievement of high levels of employment in the industrialized world. The employment consequences of a flood of imports from developing countries is jeopardizing the liberal international trading system that has contributed to the world's prosperity since World War II. The argument for free trade and a liberal system of world trade is based on a static analysis that does not countenance the rate of change imposed on the importing nation. Some intermediate stance that avoids the employment costs of unimpeded imports and the rigidities that permanent, die-hard protection will inflict on an industrialized economy may prove desirable as an aid to the process of economic adjustment.

Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:sae:anname:v:492:y:1987:i:1:p:96-108

DOI: 10.1177/0002716287492001009

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