Charlie Maunders

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Another downside of globalisation is the tendency for inequality to breed. The most talented individuals are mobile and can make a good living in many parts of the world. The drive to pay these individuals very high salaries therefore becomes impossible for companies to resist if they want to retain them. Conversely, those working in low-skill, poor-paying jobs find themselves competing with hordes of hungry workers in China, India and other emerging economies, often willing to work at a fraction of their pay. Wages in this segment of the economy naturally become depressed. Some even fall out ...more
One Man's View of the World
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