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Growing Apart

The Causes and Consequences of Global Wage Inequality

Editors: Albert Fishlow, and Karen E. Feld

Growing Apart - growing-apart
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Publisher Council on Foreign Relations Press

Release Date October 1999

Price $19.95 paper

250
ISBN 0876092555

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Overview

Is globalization a major contributor to increasing wage inequality? Growing Apart: The Causes and Consequences of Global Wage Inequality says it is not. Economists Albert Fishlow and Karen Parker show that there is no simple link between the forces of globalization and increased wage inequality, either in the United States or in several other countries. Several interrelated market integration developments--expanded trade and foreign investment, more rapid technology diffusion, and changes in labor market structure--all influence wages.

As a consequence, the book's authors claim, the correct conclusion is not to restrict international trade and the flow of service activity. They cite evidence that shows how expanded trade and competition at the global level raises living standards and creates more high-wage jobs. The real requirement, they say, is to help all workers adjust through better initial education, as well as by offering subsequent re-training possibilities.

More About This Publication

Albert Fishlow was the Paul A. Volcker senior fellow in international economics and director of economic studies at the Council on Foreign Relations. He is currently visiting professor at the Yale school of management and a senior economist at Violy, Byorum & Partners Holdings LLC.

Karen Parker directs the currency research group at Chase Manhattan Bank.

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