What Is the ‘Global Auction’ (Brown, Et Al. 2011)? Assess Its Significance for a Sociological Understanding of Inequality and the Division of Labour. Essay

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What is the ‘global auction’ (Brown, et al. 2011)? Assess its significance for a sociological understanding of inequality and the division of labour. Since the decline in economic nationalism and a rise in the knowledge economy, it has been seen that, due to a more self-interest neo-liberal economy, there has been an increase in competition in the middle classes, resulting in a society of high skilled, low wage earners. With an increasingly equal opportunity to education, a meritocracy will be formed, in which the efforts and abilities of individuals are rewarded with higher skilled jobs and, supposedly, higher wages. This was seen to be the end of a ‘walled’ economy and the rise of economic globalisation, where the markets were extended to create a global ‘free’ trade. With this widening, deepening and speeding up of worldwide interconnectedness. In an age of human capital in which there are closer connections between education, jobs and rewards, education is now seen as rather a neo-liberal supply-side investment by governments (Becker). The private rate of return becomes the individual incomes and the social rate of return is an increase in a country’s GDP and their subsequent quality of life. The creation of head and body nations, through the outsourcing of labour in order to gain a competitive advantage in the market, meant that developing countries were able to deliver labour at a lower price. Developed Western nations were able to transfer their material production thousands of miles away, centring attention on research and development domestically. This resulted in a high skilled, high waged ‘magnet’ economy. However, this led to global knowledge wars, in which developing countries were able to compete with already developed countries, and resulting in a global auction for jobs in which high skill companies could choose their workforce from a wider

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