IDEAS home Printed from https://ideas.repec.org/a/spr/ijlaec/v62y2019i1d10.1007_s41027-019-00157-w.html
   My bibliography  Save this article

Technology, Labor and Globalization: Contemporary Challenges

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s41027-019-00157-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s41027-019-00157-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Brent Neiman, 2014. "The Global Decline of the Labor Share," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 129(1), pages 61-103.
    2. Ghose, Ajit K., 2016. "India Employment Report 2016: Challenges and the Imperative of Manufacturing-Led Growth," OUP Catalogue, Oxford University Press, number 9780199472574.
    3. 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.
    4. Doan, Ha Thi Thanh & Wan, Guanghua, 2017. "Globalization and the Labor Share in National Income," ADBI Working Papers 639, Asian Development Bank Institute.
    5. Basu, Kaushik, 2016. "Globalization of labor markets and the growth prospects of nations," Journal of Policy Modeling, Elsevier, vol. 38(4), pages 656-669.
    6. 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.
    7. 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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alessandro Bellocchi & Giovanni Marin & Giuseppe Travaglini, 2021. "The Great Fall of Labor Share:Micro Determinants for EU Countries Over 2011-2019," Working Papers 2102, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2021.
    2. Basu, Kaushik, 2016. "Globalization of labor markets and the growth prospects of nations," Journal of Policy Modeling, Elsevier, vol. 38(4), pages 656-669.
    3. David Hémous & Morten Olsen, 2022. "The Rise of the Machines: Automation, Horizontal Innovation, and Income Inequality," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(1), pages 179-223, January.
    4. Bhatt, Vipul & Liao, Mouhua & Zhao, Min Qiang, 2023. "Government policy and land price dynamics: A quantitative assessment of China’s factor market reforms," Regional Science and Urban Economics, Elsevier, vol. 98(C).
    5. Christian A Belabed & Thomas Theobald & Till van Treeck, 2018. "Income distribution and current account imbalances [Notes on capacity utilisation, distribution and accumulation]," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(1), pages 47-94.
    6. Jagannath Mallick, 2024. "Impact of economic globalisation and productivity on labour share in India and China," Indian Economic Review, Springer, vol. 59(1), pages 137-168, June.
    7. Paul Maarek & Elsa Orgiazzi, 2020. "Development and the Labor Share," The World Bank Economic Review, World Bank, vol. 34(1), pages 232-257.
    8. Ibarra, Carlos A. & Ros, Jaime, 2023. "Trade and factor intensity, and the transmission of the global shock to labor: A panel analysis of the fall of the labor income share in the Mexican manufacturing sector," Economic Systems, Elsevier, vol. 47(1).
    9. Maria N. Ivanova, 2017. "Profit growth in boom and bust: the Great Recession and the Great Depression in comparative perspective," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(1), pages 1-20.
    10. Fernando del Río & Francisco‐Xavier Lores, 2023. "Accounting for the role of investment frictions in recessions," Economica, London School of Economics and Political Science, vol. 90(360), pages 1089-1118, October.
    11. Reshef, Ariell & Santoni, Gianluca, 2023. "Are your labor shares set in Beijing? The view through the lens of global value chains," European Economic Review, Elsevier, vol. 155(C).
    12. Antonio Cutanda, 2022. "The elasticity of substitution and labor-saving innovations in the Spanish regions," Estudios de Economia, University of Chile, Department of Economics, vol. 49(2 Year 20), pages 123-144, December.
    13. Lyu, Zhuoyang & Yu, Li & Liu, Chen & Ma, Tiemeng, 2024. "When temperatures matter: Extreme heat and labor share," Energy Economics, Elsevier, vol. 138(C).
    14. Naude, Wim & Nagler, Paula, 2015. "Industrialisation, Innovation, Inclusion," MERIT Working Papers 2015-043, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    15. Federico Riccio & Lorenzo Cresti & Maria Enrica Virgillito, 2022. "The labour share along global value chains. Perspectives and evidence from sectoral interdependence," LEM Papers Series 2022/11, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    16. Beqiraj, Elton & Fanti, Lucrezia & Zamparelli, Luca, 2019. "Sectoral composition of output and the wage share: The role of the service sector," Structural Change and Economic Dynamics, Elsevier, vol. 51(C), pages 1-10.
    17. Guschanski, Alexander & Onaran, Özlem, 2017. "The political economy of income distribution: industry level evidence from 14 OECD countries," Greenwich Papers in Political Economy 17518, University of Greenwich, Greenwich Political Economy Research Centre.
    18. Naude, Wim, 2019. "The race against the robots and the fallacy of the giant cheesecake: Immediate and imagined impacts of artificial intelligence," MERIT Working Papers 2019-005, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    19. Jan Behringer & Till van Treeck, 2013. "Income distribution and current account: A sectoral perspective," IMK Working Paper 125-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    20. Baldi, Guido & Pons, Martina, 2019. "The Evolution of Factor Shares: Evidence from Switzerland," MPRA Paper 92408, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:ijlaec:v:62:y:2019:i:1:d:10.1007_s41027-019-00157-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.