The evidence suggests that this is a very accurate assessment, as contemporary businesses continue to reach for new cost reduction methods to diminish the volume of resources necessary to sustain the company…
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Globalisation as a Catalyst for Western Job Loss
Making the statement that all jobs will be lost as a factor of globalisation is not supported by the research on this topic of study, hence concluding with support for the notion would be an irresponsible assessment. Domestic labourers can be sacrificed in favour of a new variety of worker, who is foreign in residence and can be paid wages which are considerably lower than their domestic counterparts. Further, globalisation provides the foundation for an imbalance between domestic product output and the volume of importations experienced by Western nations each year; especially the United States. Though to say that complete elimination of domestic jobs will occur would be somewhat unrealistic, it is clear that due to an aggressive push toward globalising the corporate West, substantial domestic job loss is likely inevitable.
Multiple Perspectives on Globalisation and Job Loss
Scott (2003) provides ample support for continued job loss stemming from globalisation by highlighting a series of statistics in the U.S. domestic job market. The author points out how the imbalance between import and export goods which is created when previously-domestic production facilities are shifted to overseas markets. To illustrate this point, Scott further suggests that during the 1990’s, the U.S. experienced considerable job growth, due to phenomenon he identifies as the boom and bust period where consumer consumption levels were high, driving domestic production.
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According to the paper technology changes almost every day and the outcome is that our life and social setup have tremendously been changed. The technology advances in almost all the fields, irrespective of business, government, social and family organizations or systems, have greatly impacted human life. In major industries, human participation and jobs have been replaced by the technologies and therefore large numbers of people have lost their jobs.
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The 2010 Nobel Prize in chemistry was awarded to
Hence, Perrons argued that “in general, the new economy is characterised by globalisation and the increasing use of communication and information technologies, but also deregulation, polarisation and feminisation of employment and new, more flexible patterns and hours
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