Globalization, the Labor Market, and Retirement

Chapter
Part of the International Perspectives on Aging book series (Int. Perspect. Aging, volume 7)

Abstract

This chapter examines the issues of labor and financial markets in the context of two significant macro-global developments, both of which pose challenges to prospects for retirement and to effective policymaking. Economic stagnation, the first of the two developments, is a sustained condition of slow or no growth, so slow as to fail to produce broad-based economic prosperity. This development is impacting not only the USA but also other advanced capitalist economies. This chapter reviews the arguments that explain the existence of a stagnation tendency and discusses its effects for job growth and retirement saving. Globalization, the second major development, involves the growing interconnectedness of nation-state economies. This development too has consequences for labor and financial markets. Specifically these developments have wage, employment, and income distribution effects on people’s work lives in ways that affect economic security before and during retirement.

Keywords

Depression Income Baran Undercut Fargo 

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Copyright information

© Springer Science+Business Media New York 2013

Authors and Affiliations

  1. 1.Belmont Abbey CollegeBelmontUSA

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