It’s not just moving industry to countries with cheap labor, there’s also importing cheap labor.
These two things have positive effects for workers elsewhere because they get skilled and comparatively well paid jobs.
A fully globalized economy should eventually balance itself out regarding wages for similarly skilled jobs.
With AI and robots this shifts further. Let’s see where this goes.
It will be fascinating to see a post scarcity economy. Will all people work as artists, personal trainers, motivational speakers, artisanal bakers, and such?
It’s not just moving industry to countries with cheap labor, there’s also importing cheap labor.
These two things have positive effects for workers elsewhere because they get skilled and comparatively well paid jobs.
A fully globalized economy should eventually balance itself out regarding wages for similarly skilled jobs.
It will be fascinating to see a post scarcity economy. Will all people work as artists, personal trainers, motivational speakers, artisanal bakers, and such?