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The Global AuctionThe Broken Promises of Education, Jobs, and Incomes$
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Phillip Brown, Hugh Lauder, and David Ashton

Print publication date: 2010

Print ISBN-13: 9780199731688

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780199731688.001.0001

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The False Promise

The False Promise

(p.15) Chapter Two The False Promise
The Global Auction

Phillip Brown

Hugh Lauder

David Ashton

Oxford University Press

This chapter shows how the neoliberal opportunity bargain of individual freedom and national prosperity was supposed to unfold. It first examines the transition from muscle power to brain power, which helped increase productive capacity. It then considers the relationship between nation-states based on the free trade and comparative advantage principles. Here it determines that the increase in the global knowledge economy helped remove most of the sources of conflict and disagreement between nations. The chapter also looks at the increased need for knowledge workers and the importance of keeping faith in the face of economic crashes.

Keywords:   muscle power, brain power, productive capacity, free trade, comparative advantage, global knowledge economy, knowledge workers, economic crash

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