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Globalization, Offshoring and Economic Insecurity in Industrialized Countries

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Listed:
  • William Milberg
  • Deborah Winkler

Abstract

This paper shows that a “new wave of globalization,” involving extensive offshoring, has raised both actual and perceived labor market insecurity in industrialized countries. The paper analyzes various channels through which this new wave of globalization leads to economic insecurity. It emphasises the key role of overall macroeconomic conditions in determining the outcome of offshoring. The paper points out the inadequacies of various policy responses that industrialized countries have come up with so far and advocates urgent steps toward formulation of policies and erection of institutional structure more appropriate to confront the challenges of the new of globalization.

Suggested Citation

  • William Milberg & Deborah Winkler, 2009. "Globalization, Offshoring and Economic Insecurity in Industrialized Countries," Working Papers 87, United Nations, Department of Economics and Social Affairs.
  • Handle: RePEc:une:wpaper:87
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    File URL: http://www.un.org/esa/desa/papers/2009/wp87_2009.pdf
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    References listed on IDEAS

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    Cited by:

    1. Denisa Maria Sologon & Cathal O'Donoghue, 2014. "Shaping Earnings Insecurity: Labor Market Policy and Institutional Factors," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60(S1), pages 205-232, May.
    2. Filipa Correia & Philipp Erfruth & Julie Bryhn, 2018. "The 2030 Agenda: The roadmap to GlobALLizaton," Working Papers 156, United Nations, Department of Economics and Social Affairs.
    3. Peter Mayerhofer, 2016. "Unternehmensinvestitionen in den österreichischen Bundesländern. Entwicklung – Struktur – Funktion regionaler Förderung," WIFO Studies, WIFO, number 58936, January.
    4. Denisa Maria Sologon & O'Donoghue, Cathal, 2011. "Shaping earnings instability: labour market policy and institutional factors," MERIT Working Papers 2011-077, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    5. Marika Karanassou & Hector Sala, 2012. "Inequality and Employment Sensitivities to the Falling Labour Share," The Economic and Social Review, Economic and Social Studies, vol. 43(3), pages 343-376.
    6. William Milberg & Deborah Winkler, 2010. "Economic insecurity in the new wave of globalization: offshoring and the labor share under varieties of capitalism," International Review of Applied Economics, Taylor & Francis Journals, vol. 24(3), pages 285-308.
    7. Marika Karanassou & Héctor Sala, 2020. "Distributional Consequences of Technology, Trade Globalisation and Financialisation in the US," The Economic and Social Review, Economic and Social Studies, vol. 51(2), pages 275-303.
    8. Paola Anitori, 2016. "Effetti dell’offshoring sull’occupazione manifatturiera italiana negli anni 2000-2011," ECONOMIA E SOCIET REGIONALE, FrancoAngeli Editore, vol. 0(3), pages 144-180.

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    More about this item

    Keywords

    offshoring; contracting out internationally; economic insecurity; profit share; financialization; globalized production; social security benefits;
    All these keywords.

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • F2 - International Economics - - International Factor Movements and International Business
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures

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