ANALYSIS: When labor becomes a commodity [Martin Hutchison]

The extraordinary rise in commodity prices, at the beginning of a global cyclical upswing, is beginning to reorder the pecking order of the world economy. Together with the advances made by China and India in the last decade, it is producing an entirely new world order, which many will find uncomfortable. In it, commodities, derided for decades as unimportant, have become scarce resources, to be guarded and managed with the utmost care. Conversely human labor and skill, on the basis of which the glories of human civilization were built, is entering into a state of gigantic glut.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: