The pace of increases in labor compensation provides another possible indicator, albeit an imperfect one, of the degree of labor market slack.
There is no reason inherent in the real resources available to us why we cannot move rapidly within the next two or three years to a state of genuine full employment.
I work a lot on skill demands and changes in labor markets having to do with technology and with trade as well.
The French social model is no longer the best one in the world. We have massive unemployment. It must change.
During my three years as chief economist of the World Bank, labor market issues were looked at through the lens of neoclassical economics. A standard message was to increase labor market flexibility. The not-so-subtle subtext was to lower wages and lay off unneeded workers.
Why was there so much work-sharing in the 1930s? One reason is that government pushed for it. In his memoirs, President Herbert Hoover estimated that as many as two million workers avoided unemployment as a result of his efforts to promote work-sharing.
American workers need a common-sense plan to make small businesses and entrepreneurs competitive again - not simply more government spending.
I have to create in India a macroeconomic environment where the employment in aggregate can go up at a handsome rate. Once that happens, people losing jobs in one sector will not mean that they will become perpetually unemployed. From one sector, they can move on to other sectors.
Under neoliberal governance, workers have seen their wages stagnate and their working conditions and job security become more precarious.
If you are trying to favor the unions by having more rigid labor market and keeping wages very high, you could be blocking people from getting new jobs.
I think the gains to be achieved by a combination of reforms and labor market adjustments are going to be more permanent and will provide a basis for reducing unemployment and improving export performance, and sustaining growth, in a way that is more sound and permanent.
Neoliberalism has taken new forms since the demise of the Fordist concept of labor and with the emergence of what is understood as flexible labor. This has really come to be the dominant form for about the last 20 years.
France's economy is stagnant, statist, and uncompetitive and urgently needs reform.
The thing that the Internet does is it allows labor to move freely across borders in the way that capital does but, traditionally, labor cannot. So the Internet frees workers to be based anywhere and work for employers anywhere.
From the 1970s, there has been a significant change in the U.S. economy, as planners, private and state, shifted it toward financialization and the offshoring of production, driven in part by the declining rate of profit in domestic manufacturing.
Removing government-created obstacles to small business growth is what Washington should be addressing, and this focus should start with removing the herculean impediments to job creation found in the health care law.
We must switch from a regulatory framework centered on the protection of individual jobs to the idea of protection on the market based on the concept of employability.
He was assassinated for his reform efforts.
Well, we see an increasingly weaker labor movement as a result of the overall assault on the labor movement and as a result of the globalization of capital.
I think our responsibility as political leaders today, is to push our economic leaders to change their investment behavior, to decide new things, and to help workers to change their jobs. And I think the mistake that Donald Trump decided to make is exactly the mistake we made in France and in Europe. Which was to resist to the change in order to protect the old jobs. What we have to protect is people, not jobs. If you want to protect people, you retrain them.
We need long-term tax reform that promotes private sector job creation. And legislated mandates that kill jobs by raising the cost of payrolls need to be eliminated.
Employment no longer responds to governments …
There are significant differences between the American and European version of capitalism. The American traditiionally emphasizes the need for limited government, light regulations, low taxes and maximum labour-market flexibility. Its success has been shown above all in the ability to create new jobs, in which it is consistently more successful than Europe.
