(Cameron Adams – Waterloo Region Record)
Globalization has been a part of our lives since the days when Vasco da Gama first sailed to India in the 1490s.
Trade has had its benefits, but in its latest incarnation, globalization has had negative consequences for working people in advanced economies.
Productivity has been rising faster than wages due, in part, to the reduction of capital controls, which allow corporations to offshore production while maintaining market access. This has tilted the balance of bargaining power away from working people. Read more here.