And while globalization and technology have opened up new opportunities and driven remarkable economic growth in previously struggling parts of the world, globalization has also upended the agricultural and manufacturing sectors in many countries. It’s also greatly reduced the demand for certain workers, has helped weaken unions and labor’s bargaining power. It’s made it easier for capital to avoid tax laws and the regulations of nation-states—can just move billions, trillions of dollars with a tap of a computer key.
New Yorker link to Obama’s lecture can be found here
John Laurence Menadue is the publisher of Pearls & Irritations. He has had a distinguished career both in the private sector and in the Public Service.
