Globalization, Knowledge and the Myth of the Magnet Economy by Brown, Philip and Lauder, Hugh - Article Example

The authors propose that solutions to social inequalities, unequal opportunities, and social conflicts among others lie in the increase in investments in education (Brown & Lauder, (n.d)). Contradicting this statement, the authors argue that an increase in human capital does not necessarily mean that such problems of social inequalities and employment opportunities miraculously disappears, for employers nowadays look for not only people with skills but skills and knowledge which is right for the job being offered and also people with zeal, emotional intelligence to handle customers among others like working with minimal supervision.

This concept of additional qualities to having knowledge acquired through education brings in the paradox of companies outsourcing jobs to developing countries and this clearly shows that investment in only human capital does not present the solution to the above-mentioned problems of inequality and opportunities in the workplace and therefore generating a magnet economy (Brown & Lauder, (n.d)). Many are the times that even with the right skills in developed countries, employees are competing with other employees in developing countries who are willing to work at a lesser pay and thus attracting a sharp focus as to many people’s assertions that human capital is all that is needed to solve social inequalities, injustices in the workplaces.