The Future of Work: The Risks of Industrial Globalization

Ongoing investments by multinational corporations in various industries standardize labor practices. With technology contributing to increased productivity and reducing the number of jobs, less priority is assigned to labor rights or training workers to adapt. “Commercial agreements and free trade treaties between developed countries and undeveloped countries are deficient in the protection of human and labor rights,” writes Evangelina Argueta, a project coordinator with General Workers Central in Honduras, for Pacific Standard. She points out that the least developed countries compete for jobs with low wages, and corporations can use profits to lobby governments to reduce costs. She also expresses concern over reduced opportunities for young workers as retirement ages rise in countries with young populations. Huge global supply chains aiming to reduce costs and increase speed reduce labor’s influence. Yet workers are consumers, and a workforce that is uncertain and weakened ultimately threatens corporate profits. – YaleGlobal