Abstract:
Globalisation is associated with the increased reliance on the regulation of economic relations by markets. National governments turn to neo-liberal approaches to macro-economic management, implying privatisation, monetary liberalisation, a reduction in import tariffs, labour market flexibilisation and fiscal discipline. Countries are also becoming more interconnected as trade barriers between them are dismantled. This puts workers in different countries in competition with each other, which opens up the prospect of a "levelling downwards" in wages and working conditions.
Reference:
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