Quote:
Originally Posted by Damien
I think it's simply that people who've got University educations are more likely to work in the service, white-collar, professions which have done well out of globalisation and the EU.
Those who left school, went right to work, and learnt their trade in something like manufacturing have been impacted negatively from globalisation. Manufacturing has declined, service sectors have increased. In some areas immigration is also perceived to have undercut the local workforce whereas this isn't the case for service workers
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I agree that globalisation and its effects have impacted our manufacturing base negatively but will Brexit reverse globalisation for the UK? Considering the UK government vetoed EU anti dumping tariffs for chinese steel and has hired china and france to invest and build our new nuclear power stations, I would suggest that there is no interest in minimising the effects by the government.
If we went super protectionist with high import tariffs, that would help hold up UK manufacturing as home made goods would be cheaper but at the cost of exports as any high tariffs would most likely be reciprocal under any trade agreement.
On the immigration front, I was surprised to find the amount of wage suppression was quite small (0.6% for the lowest 5% of wage earners, most other groups do better - source -
http://www.migrationobservatory.ox.a...f-immigration/) Considering this is the case, why is there a perception of much greater effects? Is it the media, politicians or something else?
As an aside, this whole discussion about Brexit has taught me a lot about economics, trade and politics, it's been fascinating!