SOC236H5 Lecture Notes - Lecture 3: Human Capital, Outsourcing, Uniqlo
26 Jan 2018
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Document Summary
Globalization is the free movement of goods, services, labour and capital, thereby creating a single market for inputs and outputs. How information and communications technology altered the trajectory of globalization from the 1990s on. How did rapid improvements in ict change work, internal relations, corporate strategy, etc. How has the global economy fundamentally changed since the 1990s. Last week, we discussed the classic liberal argument for globalization. Richard baldwin argues that revolutionary changes in communication technology changed globalization from the 1990s on by radically lowering the cost of moving ideas. These changes eroded much of the economic growth of the richest countries in favor of emerging markets and led to a backlash against globalization. In a world where transportation was reliant on ships or animals, few things could be profitably shipped. Through technological advances, the cost and ease of moving goods, people and ideas have decreased. Cost of moving things became cheap in the early 19th c.
