The Great Doubling: The Challenge of the New Global Labor Market
Before the collapse of Soviet communism, Chinas movement toward market capitalism, and Indias decision to undertake market reforms and enter the global trading system, the global economy encompassed roughly half of the worlds population the advanced OECD countries, Latin America and the Caribbean, Africa, and some parts of Asia.
Workers in the US and other higher income countries and in market-oriented developing countries such as Mexico did not face competition from low wage Chinese or Indian workers nor from workers in the Soviet empire. Then, almost all at once in the 1990s, China, India, and the ex-Soviet bloc joined the global economy and the entire world came together into a single economic world based on capitalism and markets.
About the Author
Richard B. Freeman
Professor of Economics, Harvard University
Richard Freeman is one of the world’s leading labor economists. The Herbert Ascherman Professor of Economics at Harvard University, and Faculty co-Director of the Labor and Worklife Program at the Harvard Law School, Dr. Freeman. Freeman is also Senior Research Fellow on Labour Markets at the Centre for Economic Performance, London School of Economics. Freeman ...
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