How globalization affectef vulnerable section on india insightonindia?
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Globalisation has led to the huge economic growth of the world but the problem lies with the distribution of the fruits of this economic growth. The issue of Brexit can also been in the same light, UK’s membership of EU, had affected different sections of population in a different manner like:
# Businesses – Labour costs have come down because of the free movement of work force across EU accruing benefits to the wealthy and businesses they own
# Educated elites – could find better opportunities due to the free flow of capital in to UK and their access to global skill market
But, there is a countervailing cost the other sections had to cope up with like:
# Job insecurity – Free movement of workforce across EU had led to the insecurity and limited job opportunities for work force in UK
# Unskilled workers or low skilled workers are faced with greater insecurity, especially elders in UK fall under this category
# Financial crisis of 2008 and crisis in Euro Zone had further led to the decline of economic opportunities and failure of the state to cater adequate social security measures like housing, livelihood etc
# Cultural loss – Mixing of cultures of various people, led to the pollution of traditional customs and norms, which added fuel to the fire of Brexit
# Businesses – Labour costs have come down because of the free movement of work force across EU accruing benefits to the wealthy and businesses they own
# Educated elites – could find better opportunities due to the free flow of capital in to UK and their access to global skill market
But, there is a countervailing cost the other sections had to cope up with like:
# Job insecurity – Free movement of workforce across EU had led to the insecurity and limited job opportunities for work force in UK
# Unskilled workers or low skilled workers are faced with greater insecurity, especially elders in UK fall under this category
# Financial crisis of 2008 and crisis in Euro Zone had further led to the decline of economic opportunities and failure of the state to cater adequate social security measures like housing, livelihood etc
# Cultural loss – Mixing of cultures of various people, led to the pollution of traditional customs and norms, which added fuel to the fire of Brexit
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