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How has globalization affected jobs in industrialized nations?
Globalization paved way for the increase of job opportunities to all races. People from other countries with different religions form locals can work and do business in an industrialization nation. [ It also have a good effect on the the nation's economy. However, the drawback of globalization is brain drain wherein skilled works and professionals from poor countries migrate to industrialize
countries to work and earn higher salary. These workers and professionals are contributing much in the growth of other countries economy rather than their own country' s economy. ]
Expert answered|samn|Points 1002|
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Asked 4/21/2012 7:05:12 PM
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How has globalization affected jobs in industrialized nations?
Weegy: Globalization compels businesses to adapt to different strategies based on new ideological trends that try to balance rights and interests of both the individual and the community as a whole. [ This change enables businesses to compete worldwide and also signifies a dramatic change for business leaders, labor and management by legitimately accepting the participation of workers and government in developing and implementing company policies and strategies. Risk reduction via diversification can be accomplished through company involvement with international financial institutions and partnering with both local and multinational businesses. Globalization brings reorganization at the international, national and sub-national levels. Specifically, it brings the reorganization of production, international trade and the integration of financial markets. This affects capitalist economic and social relations, via multilateralism and microeconomic phenomena, such as business competitiveness, at the global level. The transformation of production systems affects the class structure, the labor process, the application of technology and the structure and organization of capital. Globalization is now seen as marginalizing the less educated and low-skilled workers. Business expansion will no longer automatically imply increased employment. Additionally, it can cause high remuneration of capital, due to its higher mobility compared to labor. The phenomenon seems to be driven by three major forces: globalization of all product and financial markets, technology and deregulation. Globalization of product and financial markets refers to an increased economic integration in specialization and economies of scale, which will result in greater trade in financial services through both capital flows and cross-border entry activity. ] (More)
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