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Product Image for: International Economics, 4. Industrialization, Globalization, and Labor Markets

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International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. Chapter 4, Industrialization, Globalization, and Labor Markets (32 pages), considers the impact of a growing economy. The author looks at a country's transition from a service economy to a manufacturing economy through the framework of the Lewis Model of Development and also reviews criticisms of the model. He considers the factors of industrial policy, economic diversification, managerial capital, population growth, and wage levels. He looks specifically at the labor markets in America, Mexico, China, and India for empirical evidence on the impacts of globalization.
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    Webmaster Monday, 03 October 2016

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