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Most Recent Articles
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- Capital Finance And Globalization
Competition has become increasingly more intense and some countries have been forced to lower wages or extend working hours to attract these capital flows and provide a profit while keeping the costs of production at a reasonable level. This clearly demonstrates the average worker’s position at the bottom of the capital-market totem pole. A primary driving force behind this inability to prioritize the needs and overall welfare of workers, as was the common practice in the “Golden Age”, is the essential element of time inherent in this type of global competition. All of the developing countries are attempting to establish their capital market infrastructure at the same time.
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