THE EFFECTS OF GLOBALIZATION

The article “Let’s Admit It: Globalization Has Losers” written by Steven Rattner was published in October 16, 2011 in the New Yolk Times. The main argument of the author in this article is that despite the fact that globalization has created a nation of winners, it has also a significant number of losers especially in the manufacturing sector. However, in the United States the United Auto Workers have come into an agreement to increase job opportunities by lowering their costs. Besides, due to limited jobs, people are willing to do any jobs. But as Rattner indicates, it is crucial we reverse the decrease in incomes. However, this will need a thoughtful method. One ways in which wages in the manufacturing sector could be increased is by committing ourselves more to education. Rattner states that between 200 and 2010, individuals with college degrees increased 1.4 percent following inflation. In addition it would also be beneficial to follow the German model of emphasizing greatly on engineering as well as technical training. 
Rattner states that “To assist the private sector, particularly young companies, which are the biggest source of new hiring, tax incentives could be used to foster the creation of well-paying jobs.” In this quote, I believe that the author provides one critical way of encouraging businesses to take part in socially responsible behavior and benefit the community. This is because tax incentives help in reducing taxes for businesses as well as individuals. 

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