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Not Working
Don't trust low unemployment numbers as proof that the labour market is doing fine - it isn't. 'Not Working' is about those who can't find full-time work at a decent wage - the underemployed - and how their plight is contributing to widespread despair, a worsening drug epidemic and the unchecked rise of right-wing populism.
The Wage Curve
The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical law of economics.
Youth Employment and Joblessness in Advanced Countries
The economic status of young people has declined significantly over the past two decades, despite a variety of programs designed to aid new workers in the transition from the classroom to the job market. This ongoing problem has proved difficult to explain. Drawing on comparative data from Canada, Germany, France, Sweden, and the United Kingdom, these papers go beyond examining only employment and wages and explore the effects of family background, education and training, social expectations, and crime on youth employment. This volume brings together key studies, providing detailed analyses of the difficult economic situation plaguing young workers. Why have demographic changes and additional schooling failed to resolve youth unemployment? How effective have those economic policies been which aimed to improve the labor skills and marketability of young people? And how have youths themselves responded to the deteriorating job market confronting them? These questions form the empirical and organizational bases upon which these studies are founded.
Differences and Changes in Wage Structures
During the past two decades, wages of skilled workers in the United States rose while those of unskilled workers fell; less-educated young men in particular have suffered unprecedented losses in real earnings. These twelve original essays explore whether this trend is unique to the United States or is part of a general growth in inequality in advanced countries. Focusing on labor market institutions and the supply and demand forces that affect wages, the papers compare patterns of earnings inequality and pay differentials in the United States, Australia, Korea, Japan, Western Europe, and the changing economies of Eastern Europe. Cross-country studies examine issues such as managerial compensation, gender differences in earnings, and the relationship of pay to regional unemployment. From this rich store of data, the contributors attribute changes in relative wages and unemployment among countries both to differences in labor market institutions and training and education systems, and to long-term shifts in supply and demand for skilled workers. These shifts are driven in part by skill-biased technological change and the growing internationalization of advanced industrial economies.
Training and the Private Sector
How can today's workforce keep pace with an increasingly competitive global economy? As new technologies rapidly transform the workplace, employee requirements are changing and workers must adapt to different working conditions. This volume compares new evidence on the returns from worker training in the United States, Germany, France, Britain, Japan, Norway, and the Netherlands. The authors focus on Germany's widespread, formal apprenticeship programs; the U.S. system of learning-by-doing; Japan's low employee turnover and extensive company training; and Britain's government-led and school-based training schemes. The evidence shows that, overall, training in the workplace is more effective than training in schools. Moreover, even when U.S. firms spend as much on training as other countries do, their employees may still be less skilled than workers in Europe or Japan. Training and the Private Sector points to training programs in Germany, Japan, and other developed countries as models for creating a workforce in the United States that can compete more successfully in today's economy.
EU Labor Markets After Post-Enlargement Migration
Selected by Princeton University as Noteworthy Book in Industrial Relations and Labor Economics for 2010. Are immigrants from the new EU member states a threat to the Western welfare state? Do they take jobs away from the natives? And will the source countries suffer from severe brain drain or demographic instability? In a timely and unprecedented contribution, this book integrates what is known about post-enlargement migration and its effects on EU labor markets. Based on rigorous analysis and hard data, it makes a convincing case that there is no evidence that the post-enlargement labor migrants would on aggregate displace native workers or lower their wages, or that they would be more dependent on welfare. While brain drain may be a concern in the source countries, the anticipated brain circulation between EU member states may in fact help to solve their demographic and economic problems, and improve the allocative efficiency in the EU. The lesson is clear: free migration is a solution rather than a foe for labor market woes and cash-strapped social security systems in the EU.
The Economics of Happiness
This book presents a panoramic view of the implications from Richard Easterlin’s groundbreaking work on happiness and economics. Contributions in the book show the relevance of the Easterlin Paradox to main areas, such as the relationship between income and happiness, the relationship between economic growth and well-being, conceptions of progress and development, design and evaluation of policies for well-being, and the use of happiness research to address welfare economics issues. This book is unique in the sense that it gathers contributions from senior and top researchers in the economics of happiness, whom have played a central role in the consolidation of happiness economics, as well as promising young scholars, showing the current dynamism and consolidation of happiness economics.
The Technology Trap
From the Industrial Revolution to the age of artificial intelligence, Carl Benedikt Frey offers a sweeping account of the history of technological progress and how it has radically shifted the distribution of economic and political power among society's members. As the author shows, the Industrial Revolution created unprecedented wealth and prosperity over the long run, but the immediate consequences of mechanization were devastating for large swaths of the population.These trends broadly mirror those in our current age of automation. But, just as the Industrial Revolution eventually brought about extraordinary benefits for society, artificial intelligence systems have the potential to do the same. Benedikt Frey demonstrates that in the midst of another technological revolution, the lessons of the past can help us to more effectively face the present. --From publisher description.
