What are the more subtle effects of globalization?
While most of the effects of globalization are fairly obvious, some of the effects are more subtle and less direct in nature. For example, Kentucky affiliates of foreign companies spend resources to train their workers. The presence of these companies, while providing the obvious benefit of employment, also adds to our human capital, endowing workers with more refined skills that are in demand in the marketplace. Just as some workers are disheartened by the failure of their companies to compete successfully, others are becoming valuable members of internationally competitive enterprises. These externalities are small relative to the more obvious and direct effects, but they help develop the capacity of our labor force and the enterprises in our economy.
