What is a potential negative impact of globalization on labor markets?
Understand the Problem
The question is asking about the potential negative impacts of globalization on labor markets, providing multiple-choice options to select from. It seeks to evaluate knowledge of economic effects related to labor in a global context.
Answer
Job displacement and wage stagnation.
The final answer is job displacement and wage stagnation.
Answer for screen readers
The final answer is job displacement and wage stagnation.
More Information
Globalization often leads to job displacement due to outsourcing and technological advancements, affecting wage growth and employment opportunities, especially for low-skilled workers.
Tips
Avoid assuming globalization always leads to wage increase; it can cause wage stagnation and displacement.
Sources
- Globalization, Labor Markets, and Inequality - carnegieendowment.org
- Effects of Economic Globalization - National Geographic Education - education.nationalgeographic.org
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