4 ms·
I think both authors miss the point that historically (esp. post WW2 which corrected the abberation during WW2) that capital flow was increasingly borderless.
by flipped_bit 12y ago
I think both authors miss the point that historically (esp. post WW2 which corrected the abberation during WW2) that capital flow was increasingly borderless.
It has been labor that is held back in some anachonistic time warp with visa restrictions and so on. In prior times, European colonialism in Asia precisely solved the labor issues by directly annexing, then enhanching, controlling, and regulating the historical Asian labor productivity flows.
After decolonization, with diversions to socialist/communist and autarkic models in Asia, most of these countries are now back in the game largely in control of developed (and mostly Western) nations.
You have to see the regulation of labor in these slightly larger timelines to appreciate what is happening even in SV, and in other parts of the world.
Majority of labor needs were of blue-collar variety, but thanks to technology, even white-collar labor is not immune to this economic rationale of matching capital to labor.
Borders will dissolve (they are mostly unnatural and artificial barriers), and before people bring up all the cultural and historical rights, even these items are ultimately driven by economics. High-tech jobs are no different in this equation and are driven by the same forces.
The only thing that can upset globalization trends is war which is precisely what happened with WW1 and WW2 in the 20th century (which also arrested the globalization trends which started to peak just prior to WW1). You want to stop labor migration flows? Start preparing for war.
The other possibility is for the labor vs capital imbalances to level out - for e.g. China and India become sufficiently advanced and developed to a point where there is no need for them to export their surplus populations, exactly how the British did in 18th and 19th century as they colonized North America (USA and Canada), Australia, and South Africa.