Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy, by TeresaGhilarducci (University of Chicago Press, Chicago, 2024), pp. 260
Year: 2024
Type: book-review
Abstract: corporations in GVCs.While labour cost is important for labour-intensive tasks within vertically integrated global industries, other factors that make the investment climate conductive are also significant, for example, the availability of medium-skilled workers, good infrastructure, political stability, and the nature of the trade and investment regime.With regard to the critique on declining wages as a consequence of GVC participation, what is necessary but missing from the book to support the author's critique is a comparison of real wages in industries engaged in GVCs (i.e., electronics, electrical appliances, and automobiles) in countries deeply engaged in GVCs (e.g., Thailand, Malaysia, and Singapore) compared with wages in other industries.This would not only supplement the analysis but also increase the quality of the critique.Despite the above shortcoming, the book contains intellectual rigour and valuable economic discussion of the four megatrends that challenge the future of industrialisation.It is a useful resource for students, scholars, and policy-makers who are keen to understand the pressing issues in the world economy.
Source: Economic Record
Author: Nga Pham
Institution: Monash University
Language: English
Subfield: Demography
Field: Social Sciences
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4403384486