Explore the Impact of Globalization in 2023: Unveiling Phases, Pros, and Cons. Discover how this interconnected phenomenon is reshaping economies, cultures, and societies worldwide.
This issue of the International Journal of Labour Research is wholly dedicated to the question of the minimum wage, a matter that has gained in importance and profile in recent years. No doubt, the main reasons behind this rise in prominence relate to the stagnation of wages in several parts of the world, a generalized increase in earnings inequality as well as the rise in social unrest across the globe.
Contrary, to orthodox “win-win” theory, globalization is a highly asymmetrical phenomenon. Initially, it creates far more producers than consumers. It also results in extraordinary imbalances between nations with current account deficits and surpluses. And it has led to a widening disparity of the returns between labor and capital. Does this mean that globalization is inherently unsustainable? Probably not. But it does mean that the most destabilizing phase of this mega-trend could well be close at hand.
The website contains an official presentation of the KOF Index of Globalization. A query formular facilitates an easy entrance to select and display data about the Index of Globalization.