Is Globalization Good for Workers? Definitions and Evidence from Latin America

Part One – Outline of key arguments and insights
According to most economists, globalization is seen as a beneficial asset for workers, while on the other hand, various sociologists, anthropologists, and historians would beg to differ. Several data determines that even though globalization has increased average incomes in Latin America, the cases of employment quality still tend to be deteriorating. It is important to note the different dimensions of the effect globalization has caused and mechanisms that either benefit or harm workers in changes found within labour demand and work organizations. Following that, a brief summarization of the statistical data from the sectorial case study of Chile’s labour impact will be looked at.
When drawing a comparison between the current trade flows and historical data of Latin America, it concludes how the trade/GDP ratio had previously experienced time of quick progression throughout the 19th and early 20th centuries. Even though this historic outlook is informative, date on other dimensions of globalization endorse its fast-tracked pace during the last few decades. For example, “short-term capital flows have increased dramatically, and in 1998 the worldwide daily turnover of foreign exchange markets was at least seventy-eight times the daily volume of exports of goods and services”. This means that although economic globalization has several dimensions, not all of which necessary have the same impact. In order to reference the employment quality of workers and organizations, various aspects as the country and economic sector people work in, their skill profile, sex, and other socioeconomic characteristics need to be considered.
Economists “Theory of Trade” view globalization ...

... middle of paper ...

...national Labor Organization (ILO) but as well with UN Economic Commission for Latin America and the Caribbean (ECLAC) for collective data on social security coverage’s to urban salaried employment. Numerous types of data were used overall to support the argument of globalizations pros and cons on workers written in a non-biased point of view. The writing style was also clearly presented and organized logically making the readers ability easy to follow. Notable works include Policies for Small Enterprises: Creating the Right Environment for Good Jobs and Towards a Socially Sustainable World Economy: Bangladesh: An Analysis of the Social Pillars of Globalisation.

Works Cited

Reinecke, G. (2006). Is globalization good for workers? definitions and evidence from latin america. International Labor and Working-Class History, 70(1), 11-34. doi:10.1017/S0147547906000147