Workers and the World Economy

Dados Bibliográficos

ID3549484
AutoresEthan B Kapstein (0000-0002-3134-0361, autor correspondente)
Ano1996
Volume75
Fascículo3
Páginas16
Data de publicação1996-01-01
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoForeign Affairs (JOURNAL)
Identificadores do periódicoISSN: 0015-7120 • E-ISSN: 2327-7793
EditoraJSTOR (PUBLISHER)
DOI10.2307/20047578
OpenAlexW2588528837
IdiomaEN
Citações recebidas52

The global economy is leaving millions of disaffected workers in its train. Inequality, unemployment, and endemic poverty have be come its handmaidens. Rapid technological change and heightening international competition are fraying job markets of major in dustrialized countries. At same time systemic pressures are cur tailing every government s ability to respond with new spending. Just when working people most need nation-state as a buffer from world economy, it is abandoning them. This is not how things were supposed to work. The failure of today s advanced global capitalism to keep spreading wealth poses a challenge not just to policymakers but to modern economic science as well. For generations, students were taught that increasing trade and investment, coupled with technological change, would drive na tional productivity and create wealth. Yet over past decade, despite a continuing boom in international trade and finance, productivity has faltered, and inequality in United States and unemployment in Europe have worsened. President Bill Clinton may have been right to proclaim that the era of big government is over, and perhaps American people will ulti mately decide that those who need assistance should look elsewhere for help. But if post-World War II social contract with workers?offull

Development economics · Economics · Economy · Political science · World economy · Economic Theory and Policy · Law