Monograph examining the causes of reduced capital investment and the consequences for economic growth and full employment in the USA - contains seven contributions dealing with issues of investment policy, together with aspects of investment requirements for business, housing, human capital etc., investigates changes in national level saving in the period from 1946 to 1975, and discusses the role of appropriate fiscal policy and productivity policies. Bibliography after each chapter, diagrams and statistical tables.
The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD
A diverse array of factors may influence both earnings and consumption; however, this work primarily focuses on the impact of investments in human capital upon an individual's potential earnings and psychic income. For this study, investments in human capital include such factors as educational level, on-the-job skills training, health care, migration, and consideration of issues regarding regional prices and income. Taking into account varying cultures and political regimes, the research indicates that economic earnings tend to be positively correlated to education and skill level. Additionally, studies indicate an inverse correlation between education and unemployment. Presents a theoretical overview of the types of human capital and the impact of investment in human capital on earnings and rates of return. Then utilizes empirical data and research to analyze the theoretical issues related to investment in human capital, specifically formal education. Considered are such issues as costs and returns of investments, and social and private gains of individuals. The research compares and contrasts these factors based upon both education and skill level. Areas of future research are identified, including further analysis of issues regarding social gains and differing levels of success across different regions and countries. (AKP).
Unemployment levels are on the rise nearly everywhere, and the rate is particularly high among young people. If this trend is not reversed, the potential long-term economic and social damage is incalculable. For this reason a particular urgency attended an international conference on the subject held in March 2009 at the Marco Biagi Foundation in Modena, Italy, in the course of which specialists in labour law, human resources management, labour economics, sociology, education, and statistics met to present and compare research. This issue of the Bulletin of Comparative Labour Relations includes a selection of the papers presented at that conference. Although the selected essays present findings on specific issues in particular countries, the general applicability at the global level is evident. Assessing measures taken to deal with youth unemployment in thirteen countries (Italy, Spain, Russia, Sweden, Bulgaria, Estonia, Hungary, Poland, Israel, Nigeria, the United States, China, and Singapore), twenty-five leading authorities describe and analyse such aspects of the problem as the following: vocational education and training; quality of employment as well as quantity; links between educational institutions and local, national and international enterprises; consultation and co-operation between employers' associations and trade unions; job security vs. employment security; funding for postgraduate programmes, internships, and on-the-job vocational training; career development for future managers; safeguards for workers in a framework of flexibility; labour market pressure from unskilled immigrant workers; 'earn-as-you-learn' schemes; work in the informal economy; and the rationale behind the phasing out of passive labour market measures for school leavers such as unemployment benefits.
Skill Wars shows how to increase productivity and profits by making investments in human capital development. It addresses the disparity between the available jobs and available workers. By education and training only 20% of all American workers can fit well into our demanding high-tech workplace. How do we train the 80%? Skill Wars defines the race between advanced technology investment and human resources investment and shows managers how to measure that investment. It introduces a Human Capital Scoreboard of seven new business management/measurement tools including a more accurate calculation of ROI (Return on Investment) for employee performance improvement programs. It also provides case studies of how quality training can deliver on more problem-solving/thinking skills. It has a foreword by Joseph Boyett, author of The Guru Guide and Workplace 2000. Skill Wars is a "basic workplace performance primer" that presents complex issues in a simple language and format that will move both business leaders and the American public to give their popular support. There are few viable alternatives. Gordon believes that, "Only at great peril can Americans continue to largely ignore the workplace as an important arena that helps structure learning for life."
This book offers a collection of distinguished contributions that identify current growth accelerators in India, and suggest policies and strategies to make India’s growth more sustainable and inclusive. The papers are divided into three sections, the first of which focuses on issues related to industrial growth in India. The discussions include India’s industrial development (manufacturing, construction and mining); role of manufacturing; global value chains; and of environment in industrial development. In turn, section II deals with issues related to trade and FDI as accelerators of India’s growth. The respective chapters explore the changing patterns of trade, impacts of technology, and spill-over effects of FDI, to name but a few. Lastly, the third section discusses employment-related issues like measurement of labour input, the dichotomy of the Indian labour market, the nature of firms and employment generation, and impacts of technology on employment. Given its scope and focus, the book offers an invaluable resource for researchers and policymakers alike.
Brazil approaches its 2018 election with an economy that is gradually recovering from the deepest recession in its recent economic history. However, for many Brazilians, the recovery has not yet translated into new and better jobs, or rising incomes. This book explores the drivers of future employment and income growth. Its key finding: Brazil needs to dramatically improve its performance across all industries in terms of productivity if the country is to provide better jobs for its citizens and generate lasting gains in incomes growth for all. This is particularly important as Brazil is aging rapidly and the boost the country has enjoyed thanks to its young and growing labor force in the past decades will disappear in just a few years’ time. The book recommends a change in the relationship between the state and business, from rewarding privileged incumbents to fostering competition and innovation—together with supporting workers and firms to adjust to the demands of the market. The book is addressed to all scholars and students of Brazil’s economy, especially those interested in why the country’s economic performance has not kept up with earlier achievements since the reintroduction of democracy in the mid-1980s. Its conclusions are urgent and pertinent but also optimistic. With the right policy mix, Brazil could enter the third century of its independence in 2022 well on track to join the ranks of high income countries.
