Microeconomics › Section T · Globalization and protectionism › Topic T.2
Trade, jobs, wages, and working conditions
The fiercest arguments about trade are about work: does it destroy jobs, push down wages, or reward bad working conditions abroad? The evidence gives a two-part answer. Trade changes which jobs exist far more than how many, but its costs can land hard on particular workers and places.
In this topic
- Three worries
- The number of jobs
- Protection moves jobs around
- Worked example: cost per job saved
- Worked example: a tariff on an input
- Trade and average wages
- Winners and losers among workers
- Why the damage varies
- Working conditions abroad
- Common mistakes to avoid
- Key takeaways
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