| ID | 132124 |
| Title Proper | New world order |
| Other Title Information | labor, capital, and ideas in the power law economy |
| Language | ENG |
| Author | Brynjolfsson, Erik ; McAfee, Andrew ; Spence, Michael |
| Publication | 2014. |
| Summary / Abstract (Note) | Recent advances in technology have created an increasingly unified global marketplace for labor and capital. The ability of both to flow to their highest-value uses, regardless of their location, is equalizing their prices across the globe. In recent years, this broad factor-price equalization has benefited nations with abundant low-cost labor and those with access to cheap capital. Some have argued that the current era of rapid technological progress serves labor, and some have argued that it serves capital. What both camps have slighted is the fact that technology is not only integrating existing sources of labor and capital but also creating new ones. |
| `In' analytical Note | Foreign Affairs Vol.93, No.4; July-August 2014: p.44-53 |
| Journal Source | Foreign Affairs Vol.93, No.4; July-August 2014: p.44-53 |
| Key Words | New World Order ; Economic Order ; Economic Power ; Capitalism ; Socialism ; Power Economy ; Social Capital ; Labor Reforms ; Global Marketplace ; Cheap Capital ; Low Cost Labor ; International Economy ; Equalizing Capital |