Daniel Waldenström, Jesper Roine, Pontus Braunerhjelm (moderator)
and Åsa-Pia Järliden Bergström, LO-economist. (from the left)THE AUTHORS OF THIS REPORT, Daniel Waldenström, doctor of philosophy, Research Institute of Industrial Economics and Jesper Roine, doctor of philosophy, Stockholm School of Economics, define globalisation as an increased exchange of goods and services, people, capital, information and technology between countries. They both agree that globalisation as a whole benefits the economy and creates significant profits.
– Globalisation creates opportunities for trade, specialisation, competition and subsequently a more efficient use of resources as well as a larger product supply, says Jesper Roine.
HOWEVER, IF GLOBALISATION as such is affecting, and has had an impact on, the distribution of Swedish income and wealth is harder to tell. If you look back on globalisation development and differences in wages, Jesper Roine and Daniel Waldenström cannot see any clear connections between these two factors.
– Between the 50’s and the 80’s, globalisation increased in Sweden at the same time as the distribution of wealth decreased. However, from the 80’s until today, the differences in wages have increased as well as globalisation, explains Jesper Roine.
The authors consider other factors to be influential in the distribution of wealth.
– The large changes in the distribution of wealth in the 90’s primarily depended on financial crises, fiscal and education policies as well as the expansion of dwelling ownership, claims Daniel Waldenström.
ACCORDING TO THE REPORT, there are certain groups in society that have benefited and will benefit more than others from globalisation. Internationalisation of the capital market and increased capital mobility primarily benefit capital owners. They have strengthened their bargaining position vis-à-vis other groups in society.
– Direct investments and production outsourcing could benefit this group, says Daniel Waldenström.
Employees with low wages in particular, may be affected negatively by globalisation if labour migration increases and salary competition in these jobs gets harsher.
JESPER ROINE AND DANIEL WALDENSTRÖM advise against increased differences in income. Whether it is a result of globalisation or not, that could lead to increased protectionism that would harm Sweden as well as the entire global wealth development. Subsequently, it is essential to make sure that globalisation profits benefit everyone through political measures.
Text and photo: Emelie Ring