Banque de France - Directorate General Statistics, Economics and International
Paris School of Economics - Université Paris 1 Panthéon-Sorbonne (on leave)
La feuille de paye et le caddie
Presses de Sciences Po
The payslip and the shopping cart
Purchasing power for all, lower wage for some: world trade is redistributing the social cards. While benefiting the economy as a whole, it penalizes French citizens for whom the drop in consumer prices does not offset the negative effects on wages or jobs. Thus, on the one hand, the winners of globalization are rather young, educated, well paid and city-dwellers, on the other hand, those whose professional skills are difficult to convert and who live far from large and diversified employment pools. This essay deciphers these mechanisms, which do not question globalization so much as the inability of public policies to compensate for those left behind.
Last updated: 28 February 2021