Globalization

With the new technology offices are boundless, a research assistant can sit in front of a computer in India while the professor can sit in front of another in Sweden.

Probably, we have not seen the full effectiveness of the technological development and the focus on low-wage competition has resulted in that we have failed to carefully study the implications of technological developments.

If the ongoing development continues, competition in the upcoming years will apply to jobs but instead duties, and the information that is not locally bound will be at risk for relocating to other countries. And the pressure will increase for those who already have a university degree.

Even today, companies have been outsourcing jobs in areas such as research, product development, purchasing, logistics, information, administration, personnel, accounting, auditing and marketing. If the relocation becomes limited, the labor market for graduates is affected.

The labor market is not affected if concurrently services create new jobs in other areas. By contrast, academics are affected if competition leads to major job losses and restructuring in the labor market are not functioning. In regards to this, we may see an increase in wage dispersion.

If the restructuring follows the pattern we are familiar with, some graduate jobs will be eliminated and there will be new access to other. The future is uncertain, as usual.

Today's winner of globalization may well become tomorrow's losers. But if we leave the discussion of the problems with low-wage competition and instead focus on the possible impact of technological development and the opportunities that arise, we will be better prepared for the changes to come. If we do not, it will be difficult for prospects to quickly be prepared for new jobs in new areas.