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Technology, Labor and Globalization: Contemporary Challenges

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  • Kaushik Basu

    (Cornell University)

Abstract

From 2008, the world economy has been hit by a series of negative shocks and seems to be suffering from one of the most long-drawn recessions in history. It is argued that one underlying factor driving this festering crisis is the rise of digital technology which is reducing the demand for labor and creating an increasingly common labor market for the world. The paper elaborates on this hypothesis and goes on to discuss how this is impacting India and presents ideas on how India should respond to it in the future.

Suggested Citation

  • Kaushik Basu, 2019. "Technology, Labor and Globalization: Contemporary Challenges," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 62(1), pages 1-13, March.
    • Handle: RePEc:spr:ijlaec:v:62:y:2019:i:1:d:10.1007_s41027-019-00157-w
    DOI: 10.1007/s41027-019-00157-w
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    References listed on IDEAS

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    4. Rodriguez Francisco & Jayadev Arjun, 2013. "The Declining Labor Share of Income," Journal of Globalization and Development, De Gruyter, vol. 3(2), pages 1-18, March.
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    6. Page, John & Tarp, Finn (ed.), 2017. "The Practice of Industrial Policy: Government-Business Coordination in Africa and East Asia," OUP Catalogue, Oxford University Press, number 9780198796954.
    7. Kaushik Basu & Joseph E. Stiglitz, 2015. "Sovereign Debt and Joint Liability: An Economic Theory Model for Amending the Treaty of Lisbon," Economic Journal, Royal Economic Society, vol. 125(586), pages 115-130, August.
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