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Since just around 30 years we observe that the labor’s share of the national  income decreases in most countries. In this paper, we introduce an endogenous  overlapping generation growth model with an institutional setting of the  labor market to show that the changes of the labor-market institutions are  one main reason for the decrease of the labor’s share. These changes are  mainly caused by the increasing globalization resulting in open capital  markets and as a consequence in a competition between countries with respect  to the labor-market institutions. In the long run, all will suffer. The only  ways to stop this rat race are capital controls or international agreements  on the labormarket institutions

Does globalization lead to a rat race of national labor-market institutions?