The Global Economic Mismatch: High Technology and Low Pay

Synopsis

In this study, labor economist Schechter concludes that there is a need for greater international coordination of economic policies to enforce antitrust prohibitions and to keep open channels for collective bargaining for higher wages. He presents an analysis of recent changes in the United States and elsewhere, highlighting the spread of automated production technology to lesser developed, low-wage areas of the world, which leads to global demand-supply imbalances and downward pressure on wages. This circumstance, he charges, is aggravated as multinational corporations affiliate with one another, lessening competition and increasing monopolistic influences worldwide.

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