The Impact of Globalization on Labor Markets and Income Inequality

Abstract

Globalization, characterized by increasing international trade, investment, and migration, has had a complex and multifaceted impact on labor markets and income inequality. This article examines the various ways in which globalization has affected workers, businesses, and economies, highlighting its potential benefits and drawbacks for different groups. It analyzes the mechanisms through which globalization can contribute to both increases and decreases in income inequality, and explores potential policy responses to address the challenges and maximize the benefits of globalization.