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One Consequence of the Ongoing Globalization of Work and Migration

question 20

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One consequence of the ongoing globalization of work and migration is that skilled Western workers must now compete against well-educated workers in such low-wage countries as India,where an experienced software programmer earns one-fifth the average salary of a comparable U.S.worker.


Definitions:

Economic Model

A simplified representation of economic processes, often using mathematical formulas or graphs, to analyze behavior and predict outcomes.

Inductive Reasoning

A method of reasoning in which a conclusion is reached based on the observation of specific instances or patterns.

Variable Theory

A conceptual framework that outlines how variables interact within a particular study or model.

Normative Economics

A branch of economics that expresses value judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be.

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