Capital Idea: Setting the Scene
October 12th, 2008 | By Ben Foster in Business News, Capital Idea | 1 Comment »Capital Idea is the weekly business column of The Daily Monthly, written by Ben Foster (MSB ‘09).
Tom Friedman, foreign affairs columnist for The New York Times, has expounded on the forces of globalization in the modern economy. His 2005 best-seller The World is Flat established that, with the rise of market economies in East Asia, blue-collar jobs were no longer the provenance of those in the West: quite often, manufacturing is shipped to those countries where labor is cheapest and environmental standards are least stringent. Even the occupations that were a step above blue-collar - call center representative, for example - belong more and more to people abroad.
But you knew all that. Read Full Post