The Future (and Present) Impact of Emerging Economies

As a wage slave, I’m not immune to concern about the potential threat to my livelihood presented by skilled but inexpensive workers in emerging economies like India and China. The Economist points out that I need not be so concerned: emerging economies mean emerging middle classes and an unprecedented increase in global demand, which is a kind of global argument that rising tides lift all boats. So long as those rising tides are metaphorical and not literal, I’m on board with the idea.