KenX

One of the most difficult issues for Economists to explain to Joe Public is that of Globalisation and it's effect on the labour markets they participate in. It seems counterintuitive that, by allowing some jobs to leave the country, the economy is strengthened and prospects for employment actually increase.

The distinction that the average member of the public (somewhat understandably) repeatedly fails to make is that between short-term and long-term employment prospects. Whilst the former may seem appealing, only the latter will provide the stability they seek.

This Article refers back to 2004, when "offshoring" hysteria swept America. It's unsurprising, therefore, that the traditional constant was, once again, present. Namely, Politicians. As ever they sought to exploit the publics worries and fears in an attempt to win votes and power. What hope do Economists have in explaining the facts and the public in understanding them if our "leaders" act so recklessly?

Interference not withstanding, the public seem to wise-up to Economic realities faster than their representatives. They did with pump-priming in the 60s/70s/80s, how long will it be before they do so again with globalisation (in general and specific instances)?

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