Globalization, Labor, and Working Trends - Essay Example

? Contents Introduction to Globalization 3 Pros and Cons of Globalization 4 Pros of Globalization 4 Cons of Globalization 6 Labor and Globalization 9Pressure on Workers 9 Technology, Globalization and Labor Conditions 11 FDI, Trade and Labor Trends 15 Impacts of Globalization on Labor Conditions 18 Cultural Differences affecting Working Conditions 18 Bibliography 20 Discuss the ways in which globalization have changed work patterns and labor structures. Introduction to Globalization The concept of globalization is no longer new. It has been completely understood and discussed by theorists, researchers, practitioners, educators etc. Regardless of the popularity given to this concept a number of areas are still left to be explored about globalization. The recent discussions on globalization involve the arguments on its existence, the importance given to it today as compared to the past, the change in the concept of nation and citizenship because of globalization, the importance of globalization as against regionalism and localism. In addition a crucial debate is continuously rising on weighing the positive and negative impacts of globalization and exploring the people who are directly or indirectly influenced by the changes brought in by this concept. Globalization is a comprehensive and broad topic and covers a huge list of important issues including economic, social, political, cultural, religious and moral etc. The definition of globalization is also defined in the light of all these perspectives. As it is defined by James Rosenau, a political scientist, as "a label that is presently in vogue to account for peoples, activities, norms, ideas, goods, services, and currencies that are decreasingly confined to a particular geographic space and its local and established practices" (1997, p.360). Most of the researchers bordered their research on the economic impacts of globalization. It is undoubtedly clear that globalization has impacted the overall economic situation of the current world. However, the social, political and other areas also require attention as globalization has affected the policies, education, culture and overall social structure of the states. The economic aspects of globalization are not limited to its effects on microenvironment but it has affected markets on a macro level. The microeconomic effects refer to the technological advancements and the impact at individual firm levels, whereas, the macroeconomic effects involve the collaborative analysis of markets for business purposes (Oman, 1994). Pros and Cons of Globalization All countries experience some positive and some negative influences of more and more integration in the world economy. Pros of Globalization The list of positive aspects of globalization includes the excess availability of external finance. This excess amount of finance is helpful especially for the developing countries. The excess availability of excess finance from external sources is evidenced by the IMF, Direction of Trade Statistics Yearbook and World Bank, Global Development Finance, 1999. For instance the increase in capital flows is observed in the East Asia Pacific from 15.8 in 1980 to 36.3 in 1997. Similarly, an increasing trend of capital flows has been observed in Eastern Europe and Latin America. The percentages of this increase varied from region to region. The availability of external finance helped in releasing the constraints on foreign exchange that reduced and somehow suppressed growth and development in 1980s. The availability of foreign direct investments that were included in the new funds cannot be ignored. The concept of foreign direct investments is encouraged by the governments of the developing states. Foreign Direct Investments are encouraged because they improve the capital accumulation process and help the country develop with a faster pace in the present and thereby, affirm its success and prosperity on economic grounds in the upcoming years. Globalization does not only provide direct advantages to the countries influenced by it but also indirectly helps them in improving the overall working and living standards. The emergence and increased Foreign Direct investments can be perceived as a direct advantage that globalization brought in but the large number of benefits that are now accessible due to the availability of foreign direct investments can be viewed as indirect advantages of this concept. Globalization has encouraged the interest of foreign companies in developing and expanding their businesses in countries other than their native state. The expansion of their businesses does not only make the products and services available in the foreign countries but also provide them with the thought and insight of new technologies, strategies and plans. The foreign investors also aim to introduce new technologies in other countries. This helps the recipient country increase productivity, efficiency and competitiveness and encourages growth in the developing countries. New technologies, which are financially impossible to be attained by developing countries, are accessible through Foreign Direct investments and they may be more profitable for the country’s businesses than the technology used locally for ages. Maxfield argues that the rise in capital markets (specifically those institutional investors dealing in bonds and stocks) can comparably be more consistent with democracy and transparent government than people normally assumed (Maxfield 1999). Undeniably, this argument does contain a logical aspect that capital markets can in fact support democracy by demolishing oligopolistic corporate arrangements in developing nations. Another logical view of this argument is the fact that the demand for further knowledge and information on the call of foreign investors and International Monetary Fund may help building transparency on public and private sectors. Cons of Globalization Although the positive influences of globalization carry great importance, the negative impacts must also be considered. Without keeping the negative points in mind, no country, organization or individual can make the most of an available opportunity. There has to be a balance between the positive and negative outcomes to take full advantage of any opportunity. The issues that arise as a result of globalization include some grave and noticeable impacts. For the developed countries, the negativity of these problems is manageable as they have excess support, technology, funds, education and tactical plans. However, the developing countries suffer the most as they do not have enough resources to immediately tackle the problems that may arise. The problems that may be difficult for the developing nations to be resolved include those that are resulted because of new trade and capital flows and the manner in which they hit the economy and society of such countries. The emergence and increase of heterogeneity and polarization on national and regional levels is one of the important problems associated with globalization. This problem is not limited to the grounds of firms, countries and regions only but also exists between the groups of workers. Some possess more abilities and skills to take benefits of the opportunities that are presented by globalization while the others either lack skills, abilities, resources or guidance. This results in a situation where conflicts may arise on social and political grounds and further in the opposition of globalization approach. The increase in capital flows that were discussed as being advantageous also resulted in the creation of new problems for the governments in the management of their economies. Macroeconomic issues are also observed in 1990s. The capital inflows also result in creating a problem that is the overvaluation of exchange rates. This overvaluation causes a reduction in competitiveness and in intense situations, causes foreign exchange crises. The instability of capital flows also result in the magnification of the normally pro-cyclical nature of macroeconomic policy that may also end up creating crises. A strong financial supervision is required to prevent the banking crises that may further worsen foreign exchange crises. In such circumstances, to improve the situation there is a need to bring necessary changes in domestic policies as well as changes in the international policies. The emphasis on the alteration of policies can further be identified by the statement of an excellent analyst of globalization as he states : "Openness to the world economy can be the source of many economic benefits…. But these are only potential benefits, to be realized in full only when the complementary policies and institutions are in place domestically" (Rodrik, 1999, p. 1; see also Rodrik, 1997). Work patterns Due to globalization work patterns around the world are changing as there is an ever increasing pressure on businesses to provide quality goods and services, some of the most prominent work patterns are mentioned below: The Wherever Pattern: under this pattern employees tend to work wherever they can, they are not concerned with the fact that they need to be in the office as their clients are halfway on the other side of the world or their factories are located in some other country. They have the option to work either at home or at work where they can hold conference calls or meetings with their clients. The Whenever Pattern: Under this pattern the employees are not bound by regular office hours as they carter to customers of different nationalities who have different time zones hence they are required to work at odd hours usually late night or on weekends as in some countries Sunday is considered a working day or they are on a tight schedule and need to be on top of things to ensure that their goods or services are being delivery smoothly without any interruptions. Traveler Pattern: A lot of employees are travelling from one destination to the next meeting clients and negotiating deals etc, due to globalization businesses have to be flexible and ensure their employees are willing to travel to other countries, under this pattern the employee rarely stays in the office as he is catering to the needs of suppliers and customers on a global scale. Due to global economic recession a lot of workers have lost their jobs as companies have been forced to downsize and cut down their expenses in order to survive the recession phase and during this phase there has been a change in the global working patterns for example in UK there has been a drastic reduction in the core workforce which comprises of full time and highly paid workers but now there are very few core work force as they have been replaced by part times employees or employees with temporary contracts. Non core activities have been out sourced to other countries where the labour force is much cheaper for example outsourcing call centers to overseas contractors. Labour Structures: are no longer located in one singular location as globalization has enabled majority of businesses to hire work force in other countries. Say for example a car manufacturer has workers working in rubber plantations who extract the rubber sap from the trees and ship the sap to its plant located in some other country where the sap will be refined and turned into raw material for the cars. This ensures that the company can remain competitive and provide quality products at reasonable prices to its customers. Labor and Globalization Globalization has impacted the employment arena as well as other areas. The employment opportunities have worsened for some groups and improved for the others. The impact of globalization comprises major and minor changes in both employment opportunities and working environments. The employment opportunities and career directions have also been affected as a consequence of globalization. The impacts of this new but widely applicable phenomenon are not the same across all occupations, countries and career groups. The emergence of highly populated states like China, Pakistan and India has had a profound effect in the world business and trade conditions. The highly populated nations have acted as a supplier of workforces and, globally, the workforces from these nations have become almost double of the previous count. The excess of labor in the world market has diverted the interest of the market power from labor to capital (Freeman, 2005). The market conditions clearly directed countries to move towards the competition in terms of gaining capital to attain high standard labor, increase workforce productivity and improve the working and lifestyle standards. There traditional competition of acquiring labor has shifted towards a competition on acquiring capital which has replaced the earlier determinant of productivity and growth. Pressure on Workers The emergence of developing and underdeveloped nations in providing labor had created the problem of maintaining the capital-intensive and valuable vacancies in the Western industrialized nations. The globalization pressurized the developing nations to increase the academic qualification of the workforces. An example of such pressure which is placed on less developed countries may be the case of China which rapidly increased the labor educational opportunities and provides more Engineers and Scientists than America yearly (Freeman, 2005). The fact that industrialized nations, after the ever increasing emphasize on the concept of globalization, have options to offshore their activities or hand it over to the immigrants of developing countries with low demands on salaries and benefits, the wages and demands of labor in the industrialized economies have been endangered. Labor unions and workers of industrialized nations had to give up some of their demands to restrain the employment opportunities from being acquired by locales in the emerging nations (World Commission on the Social Dimensions of Globalization, 2004, p. 77). Owing to the changing patterns of labor structures and working patterns, the industrialized nations have taken proper steps to incorporate their human power in more skilled and capital-intensive areas. The workers or labor force of developing nations are adjusted in the labor oriented less complex areas. The industrialized nations have adopted this view to defend their economy and the recent steps taken by the US government to make academic achievements easier and welcoming for the nation is one of the efforts that industrialized economies have adopted. The result of such efforts has been revealed by the higher income generations of college graduates as compared to the high school workers observed in the last 20 years. The concise result of all this debate is the fact that demand of highly educated workers has replaced the less educated labor demand in the Western economies (Mishel et al., 2005, pp. 151–156). However, the implementation of such initiatives to improve the economic conditions and labor market of Western industrialized economies places emphasis on less developed or developing nations to improve the quality of their workforce to stay in the market. This idea gives them a motivational factor to improve the quality of education and skillful labor to be produced in their countries. Their initiatives and efforts cannot be ignored which are aimed at improving their labor forces. The populated developing countries like India and china can be taken as good examples of such nations. They provide labor at low wages with efficiency, productivity and skills which form an irresistible magnetizing factor to the multinational corporations who are continuously striving to reduce their labor costs and in turn increasing their capital. Technology, Globalization and Labor Conditions The advancement of technology has provided for many breakthroughs and successes in different fields. These progressions are not restricted to only one particular field but rather these advancements have served to provide for moving ahead in different aspects and professions. These progressions do pose a risk and have their negative aspects as well but their positive outcomes have forced people to opt for these advancements. The progressions have served to make people move ahead in the individual, social, political as well as financial sectors. The educational organizations, businesses, trade and commerce have all become dependent on the technological advancements and have moved ahead. The transmission of information has also become global and has resulted in easier and well organized development of information technology. This impact has all been put forward by the aspect of globalization. Globalization has resulted in bringing the world together and it has led to the provision of easy availability of products as well as services for the consumers who previously faced difficulties in accessing this material before the concept of globalization was understood. International foreign investors have started producing models of prices to get the attention of consumers. This is of assistance to the international investors as they gain profits and their sales improve and at the same time, it serves to break the customer chain of the local business setups. Globalization is a phenomenon that has proved to be of assistance for the developing as well as underdeveloped nations as well owing to the fact that those nations that face food shortages can overcome this due to the increased availability of food supplies. The consumers who were initially restricted to only buy the expensive products which were also in lower supplies as a result of the monopolistic market are now able to purchase imported material at lower rates as well. Not only this, statistics have proved the fact globalization has also resulted in lowering the poverty rates around the globe (Spero et al 1997). Thus globalization is an all round phenomenon which has proved to be beneficial for the individual consumers as well as for the countries around the globe. The technological developments resulted in the formation of the first entirely electronic market which is referred to as National Association of Securities Dealers Automated Quotations (NASDAQ) (Schmerken, 1999). This market was the first one of its kind which served to provide with opportunities in the form of a market to different consumers as well as sellers who could now communicate and connect through the computers as well as the telecommunication system. The older stock markets became distressed with this new advancement of NASDAQ in 1971 but their functioning only became threatened towards the last decade of the 19th century with the emergence of the Electronic Communication Networks (ECNs) and discount brokers. Before the formation of the ECNs and the discount brokers, the people were bound to communicate through the brokers for participation in the trading matters. This allowed for a few people to directly get involved in the business of trading but the initiation of the Electronic Communication Networks brought with it the possibility of the communication of the general public in terms of their trading issues. The public could not directly become involved and access the stock exchange information for making their investments and before taking important financial decisions. The market of trading became much easier and became accessible for a large number of people who were interested. The basic requirements of a trader became a computer accompanied with an internet connection (Franke, 2004, p. 18). Thus, the information that was once only open for a group of privileged people was now easily accessible. The cost of the trade transaction fell by more than 80-90%. There were many websites and companies that operated online and started giving valuable information about market data, the positions of various companies along with the analysis as well as other important information which would be useful for the traders before taking financial decisions. These advancements proved to be very useful for the people of different countries initially and in particular the United States and the European Union (Gorham & Singh, 2009, pp. 3-16). The development in the technology created the possibility of the storage and management of financial as well accounting records on the computer and other storage devices for the business organizations. The increased access and understanding of the internet made it possible to transfer data within the company from one department to another without any difficulty through the LAN, WAN and DSLs. The concept of financial globalization which is basically the bringing together of all the financial markets across the globe under a single platform also emerged. It lead to the freedom of trade between different countries and allowed for the easier movement of finances across the global economies without any underlying obstacles by the controlling bodies of different countries. This development proved to be of importance and value owing to the financial development associated with it (Levine, 2001). The process of globalization carries with it many benefits and positive points but the negative aspects of globalization also need to be understood. The developed nations are able to face these hurdles in an efficient manner owing to the advancement of technology and the easy availability of good resources to overcome such issues but it is believed that these issues affect the developing nations the most. It leads to the creation and rise in heterogeneity as well as polarization on different levels which include the national as well as the regional levels. This problem is not restricted at higher levels but may affect at the ground root level by its existence between the groups of workers. There is unevenness in the abilities and skills of the workers and hence the more skilled workers tend to take advantages that are put forward by globalization whereas the others stay behind owing to decreased skills, resources or proper guidance. This tends to create a situation where there may be disagreements on the social as well as political grounds. Globalization tends to result in higher capital flows but this can result in the issue of overvaluation of exchange rates. This can lead to decrease in competitiveness and in intense situations, cause foreign exchange crises. To overcome this issue, it is essential that there is strict financial monitoring (Spero et al 1997). The technological advancements form another major determinant of the changing labor working patterns. The digitalization of most of the transactions, data and information has made it easier for the countries to hire low wage workers from foreign developing nations. The use of teleprocessing and easy, quick yet efficient communication mediums has made it possible for the companies to carry out and manage operations in distant locations effectively. Computer programming, website development, reporting, accounts management, radiological analysis and other important functions of the company may be delegated to employees outside the country premises. Usually, low waged workers of developing countries are assigned such tasks to cut labor costs which are higher in the developed nations. Hence, the demand for workers to perform these specialized tasks has been reduced in the United States and European countries (Sachs, 1996). This effect of globalization was not popular in the start but as the concept extended its roots the less developing nations had placed more capital investments in educating their labor. This technological factor alone is a great threat to the dominant Western countries in their efforts to create high value-added employment careers for their local workers. Thus it can be seen that globalization has many benefits for the common people and it serves to provide them with increased opportunities. It also provides for increased economic development. But it also has the negative impact of leading to benefits to the more skilled people and at the same time it can also result in financial crisis. FDI, Trade and Labor Trends As the Heckscher-Ohlin theorem suggests, trade and Foreign Direct Investments must keep in consideration and concentrate on the availability of excess labor in developing countries and must take proper actions to incorporate these as assets for the trade and development of the organizations and countries. This theorem is based on the idea that labor intensive work processes can help achieving specialization through repetition of processes and cheap availability of labor can attract more investors towards the growth of trade via this technique, hence, creating more jobs and employment opportunities for available labor resources. The recent researchers conclude contrary results to this approach by creating evidences that increase in trade does not essentially constitute a more positive result in respect of employment opportunities especially in the developing countries. The standardized production processes or similar production procedures across different states result in either multiple equilibria (Grossman & Helpman, 1991) or dissimilar and inconsistent job movements in the evolutionary ‘catching-up-models’ (Fagerberg, 1994; Montobbio & Rampa, 2005). Also, Kathuria (2001) suggests considering the effect of the increase in total-factor-productivity in the developing countries due to globalization in comparison to the direct labor saving effect of the traded in equipments, machinery and other technological advancements (Kathuria, 2001). Hence, we cannot relate the employment opportunities to increased productivity and overall profitability with considering the factors and effects of other strategies available. The cheap availability of labor due to globalization cannot reduce the importance of technologies in the modern world. The access to recent technologies has also grown since the 1980s and must be considered as a helpful effect of globalization for organizations. Putting it in other words, the research suggests that the ultimate employment effect of rising trade is reliant on the relationship between productivity development and output growth. Globalization has brought in the existence and extensive popularity for the concept of import and export of goods, services and products. The increase in exports is beneficial not only for the organizations but also for the countries bringing in more capital and popularity of the brand. Whereas, imports may create negative impact on the local business and in the long run may result in redundancy. People, who are the eventual consumers of a product or service, opt for cheaply available imported stuff rather than the local. Moreover, the repetition of work for labor may increase their productivity more than the output budgeted. The production constraints like limited capital, finance and/or demand can put the organization under pressure and they will be left with no other option than reducing their staff (Reddy, 2004). Setting aside the debate of trade, in considering the effects of Foreign Direct Investment, one may conclude easily that FDIs do not only bring in capital, strengthen the development process, create more jobs but also provide additional services to the people (Lall, 2004). Still, the negative side of FDIs cannot be ignored. The permanent close down of many businesses due to extreme competition and lack of technology and capital availability in local firms reduce jobs and increases unemployment. The FDIs also opt for Mergers and Acquisition reducing the overall employment opportunities. Hence, the concluding statement about globalization and its effects on a particular country or group of countries depends on the resulting effect by weighing positive and negative influences of globalization (Aitken and Harrison, 1999). The research conducted by Lee and Vivarelli concludes that the effect of trade and FDI on employment is largely dependent on the state and sector that is under consideration and the HO theorem is inconsistent in most of the cases. Globalization has resulted in producing easy access to products and services for the consumers who had problems in accessing this stuff before the spread of this concept (Evenett, 1999). In order to achieve greater sales, profits and brand name, imported material and foreign investors produce such a pricing model that attracts more customers and breaks the customer chain of local businesses. The increasingly globalized world has also helped the poorer countries and those with food shortages with increased availability of food supplies (Mander & Goldsmith, 1996). The consumers who were earlier bound to purchase expensive products and supplies in limited resources due to local monopolistic market are not able to attain cheaper imported material as a substitute (Graham & Krugman, 1991). Gaunt (2002) provides evidence that poverty rates around the globe on individual and country basis has been reduced as a consequence of globalization. The globalization process does not only helps businesses in reducing costs by importing latest machineries but also helps them by providing cheap labor forces to cut down their direct costs related to labor. Estimates from experts reveal that approximately 30 to 40 percent of the global population has taken some advantage from the increasingly globalized economy. On the other hand, the remaining population has not shown any such progress (Valaskakis, 1998). However, globalization is often blamed for increasing the gap between the skilled and unskilled, financially sound and financially disabled, educated and uneducated, experienced and inexperienced, technologically knowledgeable and those who are unaware of modern technologies. Increasing competition has resulted in increasing this gap, whereas, increased competition has led the organizations to improve their performances and have made things better for the consumers (Frank & Cook, 1995). Impacts of Globalization on Labor Conditions Labor conditions, after globalization, have also changed dramatically. Organizations are taking more interest in giving proper education and training to their employees. Some researchers also indicate that increasing competition in the world market has emphasized on the need of developing a better and more effective educational and learning environment. Workers are the advantaged group in this competitive area (Mander & Goldsmith, 1996). Some argue that globalization has resulted in exerting a downward pressure on salaries, pensions and other benefits. Also, it has resulted in reducing and further eliminating the effects of powers that were previously possessed by unions (Lawrence 1995; Krishnan, 1996). However, others argue that globalization does not have any remarkable effect on labor conditions and salary systems (Krugman, 1994). Cultural Differences affecting Working Conditions The impact of globalization on culture has also been discussed and researched by writers in an efficient way. Globalization has brought in many new changes, advancements and eases for people. It provides new information, reports and ideas to transmit from one person to the other. However, the increasing diverse population in countries has also posed a threat to their local security. People are now facing problems of terrorism and disruption due to uncivilized population merging from their native places to other countries. 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