The globalization process is frequently associated with negative effects on employment and the labour market. Not rarely a common opinion is that outsourcing and portfolio investments have negative effects on the labour market. Also a loss of the industrial basis is feared. However these statements are not comprehensive enough. A more differentiated examination shows that the international division of labour caused by the globalization has positive effects on production and the labour market and thus causes increases in welfare. The high unemployment is not caused by the globalization, but by failures of the politics.
