This research will begin with the statement that Schumpeter’s article, “Angst for the educated”, talks about the new trends in the job market in relation to education. It has the notion that among people, education is the gate pass to a life of financial success and security in all parts of the world. This has made education, especially in the developed countries, to be highly regarded especially among the older generation. Most parents ensure that their children get university education because they believe that this is the way that they can increase the chance of getting a well-paying job. Indeed, statistics show that educated people are expected to earn more money in their lifetime than their uneducated counterparts in the United States. The gap between the two keeps in increasing. There are now changes that are taking place the today world that is changing this. It is now emerging that this relationship between education and jobs is about to change due to new developments such as deregulation, globalization, and change in technology. The article highlights the effects that globalization has in the job market of the rich countries. Globalization has benefits such as increasing the market for company’s product thereby increasing job opportunities. The disadvantage, however, is the drain to developing countries. The graduates from universities of the rich countries have to compete with those of poorer countries. This has been enabled by globalization because firms are able to find employees from all over the world easily....
These graduates are willing to work more for less. Firms are finding it viable to switch to these countries in spite of the impact this has to the home countries. This is because the firms have to enhance their competitive advantage by lowering the costs of the firm. The other issue is the effect of technology on the job market. The article acknowledges that we are in age where technology is improving very fast. The technology is being used to perform tasks that were being performed by human beings, and, it is emerging that, in future, many of the jobs done by the educated people will be replaced by machines. This is mostly the repetitive jobs, therefore; the jobs that are likely to be affected are those in the mid level in factories. The new technology also enables an uneducated person to perform tasks that only an educated person could perform. This has greatly affected the professionals such as accountants where accounting programs are able to be handled by people with very little knowledge of accounting. Some of the jobs such that have been well paying and require high level of education such as medicine and law are also being affected. The effect of such jobs is in different forms but is due to advancement in technology. Some of the reason are due to the fact that the customers do not have to use the service of the these professions, for instance patients can get advice straight from the Internet on health, they, therefore, do not have to use a doctor for this service. This lowers the demand for doctors. Another reason is due to the outsourcing companies, for instance, many of the jobs in a hospital do not relate to treating patients alone. Just like in any other firm, the hospital has supporting functions such
In the report, the researcher has discussed the Schumpeter’s article “Angst for the educated”, particularly, the effects that globalization has in the job market of the rich countries an effect of technology on the job market highlighted in the article. …
The essay seeks to answer questions: What explains the very different effects that globalization and world economic recession have had on U.S. households as compared to the effects that globalization and world economic recession have had on individual European households? What is the greatest positive consequence of globalization? What is the greatest negative consequence of globalization?
Globalization and Europeanization tend to occur simultaneously. Both globalization and Europeanization have close dynamics with deregulation and negative integration of European market. Europeanization tends to reinforce and counteract globalization. Globalization has affected labour and capital markets, relations between central and local governments, and competition for elective posts.
There are some of the illustrations, which have been presented as a form of justification to support the motion of the paper. In this case, the stance of the paper is that increasing rate of unemployment promotes globalization.
Consumers are able to access an ever-growing basket of goods and services. Countries, companies and individuals are increasingly beginning to take into account what is happening across the world, rather than in only the country in which they are based. In short, globalization is affecting a vast section of the society, whether people realize it or not.
KFC in China, Spanish movies played in India are signs of globalization. For companies that serve multinational and different countries, the best strategy to be used is globalization.
The author of the essay comments on the advantages and disadvantages of globalization. Namely, it is stated that the pro-globalization forces view the structural arrangement that corresponds to power distribution in the three concentric circles. According to Emanuel Wallerstein, these power circles are comprised of core, semi-periphery, and periphery.
Many studies have been prepared with respect to the globalization process in general and pertinent to developing countries. The effects of globalization in many developing and developed nations have been widely considered as research topics in the international political economy and economics.
Specifically, how the negative effects of globalization and free trade have affected developing countries. Lynch (2010) asserts developed countries benefit more from free trade and globalization than developing countries. This is based on that developing nations
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