God help the middle class (Photo credit: maistora)

This is an excellent article by Professor Nancy Folbre in the Economix column in the NYT. It is recommended reading. Check it out!

Nancy Folbre: How to Cut Skilled Labor Costs – NYTimes.com.

For me, the article was very effective in analyzing the impact on jobs in the US of globalization. Simply, to keep costs down, companies are both exporting  jobs and importing of skilled foreign labor. It focuses upon the implications for the large number of US graduate unemployed.

More importantly, the implications of the article are generalizable, in my view. The article should be of interest around the World to:

Economix Blog header (Photo credit: John Niedermeyer)

• Policymakers
• Businesses
• Professionals
• Parents
• College students
• Journalists

As a passionate believer in free trade and globalization, when I look at Europe, there is still enormous potential to reduce costs and improve the quality of life. This includes both the Private and Public Sectors, and most especially international bureaucracies, like the EU.

What do you think?

Related articles

• The Agenda: A Closer Look at Middle Class Decline – NYTimes.com
• Today’s Economist: Nancy Folbre: Price Tags for Parents
• Discouraged Dads
• Wanting Non-Existent Jobs
• Finance Capitalism – Paul Krugman – NYTimes.com
• Does Borderless Economy Equal, Jobless Prosperity?
• Who’s Very Important? – Paul Krugman – NYTimes.com
• Welfare Reform and Chronic High Unemployment