What factors would cause the demand for high-skilled labor to rise? The most plausible explanation is that

while the explosion in new information and communications technologies over the last several decades has

helped many workers to become more productive, the benefits have been especially great for high-skilled

workers like top business managers, consultants, and design professionals. The new technologies have also

helped to encourage globalization, the remarkable increase in international trade over the last few decades, by

making it more possible to learn about and coordinate economic interactions all around the world. In turn, the

rising impact of foreign trade in the U.S. economy has opened up greater opportunities for high-skilled

workers to sell their services around the world, and lower-skilled workers have to compete with a larger supply

of similarly skilled workers around the globe.
376 15 • Poverty and Economic Inequality
{"file_type": ".pdf", "creationdate": "2022-12-07T14:15:44-06:00", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "title": "Principles of Microeconomics 3e", "creator": "PDFMiner", "file_name": "Microeconomics3e.pdf", "file_size_mb": 26.99, "producer": "Prince 14.2 (www.princexml.com)", "uploaded_via": "batch_uploader", "upload_timestamp": "2026-02-07T15:37:44.339247", "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf", "total_pages": 597, "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "batch_upload": true, "moddate": "2022-12-07T14:23:05-06:00"}