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The world economy: Wealth without workers, workers without wealth
Keywords:
How will countries like India generate jobs when technology enables manufacturing and other activity to do work with fewer and fewer people. Even Hon Hai in China is shifting work to robots. Technological progress is leaving more people unemployed and widening income gaps with the benefits going to a few people, says the Economist in this research based essay. It will require carefully managed governance to invest in infrastructure, raise skills of less skilled workers through education, and wage subsidies for those left behind to ensure our current system works in the future.
The need for investment in infrastructure, education for raising level of worker skills, and wage subsidies for those left behind, in the world economy of 2014-2030
10/06/2014
This research in the Economist on the world economy shows the effects of technology are benefitting fewer people, leaving less skilled workers poorer than before, and creating large income gaps, more inequality. How to address these problems are a challenge for just and effective governance. Technology even at Hon Hai in China is shifting work to robots, and the question is how the millions of people in India can find jobs when technology can enable manufacturing with fewer people.
Grouped Articles
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Countering Tech’s Damaging Effect on Jobs
Wall Street Journal 10/15/2014
Janet Yellen Warns of Inequality Threat
New York Times 10/17/2014
Bad Stock-Market Timing Fueled Wealth Disparity
Wall Street Journal 10/27/2014
Hostility From U.S. as China Lures Allies to New Bank
New York Times 03/19/2015
Economic-Ladder Concerns Trump Income Gap in Poll
Wall Street Journal 05/05/2015
Credibility of elites tested in the decade following the financial crisis of 2008-2009- falling incomes in the U.S. and high unemployment in Europe, and disaffection in local regions such as Scotland
09/20/2014
Policies of Gordon Brown and Alistair Darling in a Labor government increased the role of the financial sector in the British economy and the part played by London as financial capital, only to lead to a near collapse of the banks in the financial crisis of 2008-2009. Brown and Darling are both Scots who failed to see the effects on regions in Britain such as Scotland, already affected by deindustrialization under the Conservative Thatcher government, and now hit by the repercussions of the financial crisis under first Labor and then austerity Conservative government of David Cameron. Irwin faults the elites for failing to grasp the effects of their policies on average working people, the risks involved in an overblown speculative financial sector, and only waking up with the elections for the European parliament and tense moments before the referendum in Scotland.
Grouped Articles
In Scotland and Beyond, a Crisis of Faith in the Global Elite
New York Times 09/20/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Germany, France Tap Economists for Advice to Avoid ‘Lost Decade’
Wall Street Journal 10/14/2014
Jerry Brown is spending more on ballot measures than on his own campaign - The Washington Post
Washington Post 10/24/2014
British Treasury Targets Banks to Increase Tax Revenue
New York Times 12/04/2014
Bolivia's Eva Morales and economic recovery with prudent fiscal management
02/16/2014
Brazil's international reserves of $14 billion are the highest of any country including China as a percentage of GDP. For Bolivia it provides a cushion of 14 months of imports. The country's income from natural gas exports to Brazil and Argentina is flowing to a new middle class, as the percentage of people in poverty decline from the 38% the year before Morales took office in 2005 to 24% in 2014. Following a different strategy from that recommended by the IMF, Morales is now seen favorably by the IMF and World Bank's representatives who call his policies prudent. It shows the need for flexibility in fresh thinking for the IMF and the World Bank considering local conditions and needs and avoiding standardized approaches.
Grouped Articles
Turnabout in Bolivia as Economy Rises From Instability
New York Times 02/16/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
President of Bolivia Claims Victory in Election
New York Times 10/12/2014
Decline in household income in the U.S. 2009-2012
09/17/2010
Grouped Articles
Wall Street Journal 09/14/2011
Wall Street Journal 09/17/2010
Wall Street Journal 02/02/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Hiring Booms, but Soft Wages Linger
Wall Street Journal 01/10/2015
Recession Officially Over, U.S. Incomes Kept Falling
New York Times 10/09/2011
Reversing the decline in U.S. median household income
09/17/2010
Grouped Articles
Wall Street Journal 09/14/2011
Wall Street Journal 09/17/2010
Wall Street Journal 02/02/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Letâs Admit It: Globalization Has Losers
New York Times 10/15/2011
No Money for a Living Wage? But Fat Abounds
New York Times 11/29/2011
American Cities- A growing divide in 2012-2013 based on the proportion of college graduates in the population
11/02/2008
Cities like Washington D.C., San Francisco, Raleigh, N.C., have high proportion of college graduates in the population- as high as 40% in Washigton D.C.- with resuliting lower unemployment of about 7.5% or less. Other cities like Dayton and Youngstown in Ohio and Bakersfield, California, have a low proportion of college graduates- 20% in Dayton- and high unemployment of about 10.5%
Grouped Articles
Cities Adapt With Mixed Results
Wall Street Journal 09/27/2011
New York Times 06/22/2013
Frayed Prospects, Despite a Degree
New York Times 07/19/2013
A Splash of Green for the Rust Belt
New York Times 11/02/2008
The ’1 Percent’ isn’t America’s biggest source of inequality. College is.
Washington Post 05/23/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
High unemployment and declining wages in the U.S.: 2010-2012
01/01/2010
Grouped Articles
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
Wall Street Journal 08/12/2013
No longer the land of opportunity - The Washington Post
Washington Post 01/05/2012
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Falling Wages at Factories Squeeze the Middle Class
New York Times 11/20/2014
Why high unemployment and the high percentage of the long term unemployed is determining U.S. Federal Reserve interest rate policy in 2012-2014
01/27/2009
With 40% of the unemployed in the U.S. shown as long term unemployed, mismatch in skills and other structural problems with unemployment, the U.S. Federal Reserve policies of Fed chairman Bernanke are geared to addressing this problem.
Grouped Articles
Stimulus and the Depression: The Untold Story
Wall Street Journal 09/26/2011
Fed Officials Try to Set the Market at Ease
Wall Street Journal 06/24/2013
Wall Street Journal 07/11/2013
FX HORIZONS: The Fed’s Risky Codependency with Markets
Wall Street Journal 07/11/2013
Bernanke Plays Down Link Between Jobless Rate, Fed Moves
Wall Street Journal 07/18/2013
Economy May Be Getting Its Wings Clipped
Wall Street Journal 07/30/2013
The U.S. job vacancy rate with 3.5 million openings in Feb. 2012 and the high unemployment rate showing a mismatch of skills
06/06/2009
Grouped Articles
The Next First (and Only) 100 Days
New York Times 12/10/2011
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
On Jobs, No Time for a Celebratory Beveridge
Wall Street Journal 04/11/2012
The incredible shrinking labor force - The Washington Post
Washington Post 05/05/2012
U.S. Faces Uphill Battle in Retraining the Jobless
Wall Street Journal 07/31/2012
Lost generation. High joblesss rate for younger workers in Spain, Italy, France, and other parts of Europe: 2011-2014
01/01/2010
The unemployment rate for younger workers 16-24 in Spain has reached an astounding 42% in 2010, up from 17.5% at the height of the boom 3 years ago. High youth unemployment is a severe problem for the European Union.
Grouped Articles
Italy Looks at Job Shares for Young
Wall Street Journal 05/21/2013
Germany Works to Curb European Youth Unemployment
New York Times 05/22/2013
Italy: The Nation That Crushes Its Young
New York Times 10/30/2013
Young and Educated in Europe, but Desperate for Jobs
New York Times 11/15/2013
France Tries Subsidizing Jobs for Youth—Again
Wall Street Journal 12/21/2013
Can't Find Skilled Workers? Start an Apprentice Program
Wall Street Journal 01/17/2014
Tech's hugely negative effect on Jobs- reports by the Economist magazine and other research showing severe effect on jobs and incomes
10/06/2014
One Oxford University study goes so far as to say 47% of U.S. jobs could be automated in the next 20 years. Clerical jobs are rapidly being automated and manufacturing can be done with a small number of workers.
Grouped Articles
Countering Tech’s Damaging Effect on Jobs
Wall Street Journal 10/15/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Hiring Booms, but Soft Wages Linger
Wall Street Journal 01/10/2015
U.S. Car-Making Boom? Not for Auto-Industry Workers
Wall Street Journal 03/24/2015
Washington Post 10/23/2015
Brexit: The Era of the Angry Voter Is Upon Us - SPIEGEL ONLINE
SPIEGEL ONLINE 07/06/2016
Benjamin Friedman on high unemployment, income gaps and higher inequality, and the consequences for the social fabric of America
08/06/2010
Grouped Articles
New York Times 06/22/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
New York Times 09/12/2013
The Economy Needs a Bit of Ingenuity
New York Times 08/06/2010
A Look at the Global One Percent
Wall Street Journal 03/09/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Italy's premier Renzi's economic policy to generate higher growth to meet deficit targets, and tax breaks to help ordinary Italians hurt by falling incomes
04/09/2014
Incomes of average Italians have fallen to 1998 levels after decades of low growth. Renzi's plan is to help Italians build up savings, add jobless benefits to cushion impact of changing labor laws, tax breaks for business growth, and meet deficit targets through higher growth to satisfy the EU's focus on the deficit.
Grouped Articles
Italy PM Renzi: Cabinet Has Approved Three-Year Budget Plan
Wall Street Journal 04/09/2014
Italy Cuts Income Taxes in Effort to Boost Economy
Wall Street Journal 04/19/2014
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
Wall Street Journal 05/27/2014
Matteo Renzi Needs to Look Out for Italy First
Wall Street Journal 07/07/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
America's poorest white communities and social ills adding to income decline
02/08/2012
Grouped Articles
New York Times 02/08/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
America’s white working class is a dying breed - The Washington Post
Washington Post 11/12/2015
Sessions says Charlottesville car attack could be prosecuted as a hate crime
Washington Post 08/16/2017
Faces of men who are unemployed or in part time work in the U.S. as one sixth of men 25-54 lack jobs in 2014
02/07/2012
The sharp decline in inflation adjusted wages for less skilled workers since 2000 and lack of decent paying jobs has led to many men too discouraged to look for work, and dependent on a spouse's income or government benefits. This is unlike any other post 1950's economic recovery in the U.S.
Grouped Articles
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
New York Times 02/08/2012
Hiring Rises, but Number of Jobless Stays High
New York Times 04/04/2014
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
A part-timer boom, or blip? - The Washington Post
Washington Post 07/16/2014
The University of Wisconsin 2013 study showing declining life spans for women in some parts of the U.S. associated with income, graduation rates and smoking
03/11/2009
A study from the University of Wisconsin Population Health Institute by health sciences professor, David Kindig, and a PhD. candidate Erika Cheng, shows declining life spans for women in some parts of the U.S. in 2013. The study reveals the impact of smoking, education levels to understand good food choices, the income levels and availability of food choices in neighborhoods, graduation rates, as critical factors. Other factors cited in reader comments are increasing stress as women joined the workforce in larger numbers, obesity and poor eating habits.
Grouped Articles
Wall Street Journal 09/14/2011
Health Battle Over Soda Flares in Mexico
Wall Street Journal 08/28/2013
The Great Stagnation in American Education
New York Times 09/07/2013
Peterson and Hanushek: The Vital Link of Education and Prosperity
Wall Street Journal 09/11/2013
Retailers Revive the Market in Womenâs Plus Sizes
New York Times 06/18/2010
Told to Eat Its Vegetables, America Orders Fries
New York Times 09/24/2010
High U.S. unemployment and the haphazard effort for jobs retraining in the U.S. - 2009-2013
06/06/2009
Grouped Articles
Jamie Dimon’s harried JPMorgan Chase pushes campaign for worker training - The Washington Post
Washington Post 01/03/2014
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
Piecing Together the Job-Picture Puzzle
Wall Street Journal 03/12/2012
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Why high unemployment in the U.S. is expected for 2010-2014
06/06/2009
Structural problems like a mismatch of skills between maufacturing and construction sectors worst hit since 2008 and growing sectors like healthcare is one problem. Geographic factors and difficulty selling homes in states like Michigan is another. The tighter credit from a return of banking sector losses from bad home equity loans that is expected in late 2010 will keep the recovery from taking hold keeping unemployment high. The economic uncertainty following repeated budget battles between political parties also affects business investment.
Grouped Articles
90 Million Americans Not Working
Wall Street Journal 10/23/2013
Hiring Slowdown Blurs Growth View
Wall Street Journal 01/20/2014
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
New York Times 04/05/2012
Hiring Is Strong and Jobless Rate Declines to 6.1%
New York Times 07/03/2014
Unemployment in Britain 2010-2015
11/16/2011
High unemployment in the UK as it reaches 8.4% for the fourth quarter of 2011.
Grouped Articles
The Next First (and Only) 100 Days
New York Times 12/10/2011
BOE to Keep Rates Low Even After Jobless Goal Is Met
Wall Street Journal 01/23/2014
BOE Guides to More of the Same
Wall Street Journal 01/23/2014
Wall Street Journal 03/04/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Structural solutions for U.S. jobs growth and economic growth- 2011-2020
01/04/2010
Michael Spence and other experts discuss longer term solutions to the high unemployment facing the U.S.
Grouped Articles
Uncertainty Is the Enemy of Recovery
Wall Street Journal 04/28/2013
Confronting Old Problem May Require a New Deal
New York Times 01/28/2014
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Why the Old Jobs Aren't Coming Back
Wall Street Journal 06/24/2011
Middle-Aged Job Hunters Struggle in Weak Recovery
Wall Street Journal 07/30/2011
Increasing disparities in income in major U.S. urban areas in 2009-2013
01/20/2009
High unemployment and poverty in major urban areas of the US including Washington D.C. This is especially true for those without a college education.
Grouped Articles
New York Times 06/22/2013
The Great Stagnation in American Education
New York Times 09/07/2013
Peterson and Hanushek: The Vital Link of Education and Prosperity
Wall Street Journal 09/11/2013
Wall Street Journal 10/11/2013
Patchwork of Local Wage Laws Fuels Debate Over Raising Federal Minimum
Wall Street Journal 12/01/2013
Upward Mobility Has Not Declined, Study Says
New York Times 01/23/2014
The huge negative effect of tech on jobs in the U.S., and other countries- prioritizing solutions in 2015-2025
10/06/2014
The Economist and William Galston writing in the WSJ, look at the hugely negative effect on jobs as technology makes it possible to produce the same output in goods with fewer workers. Galston offers solutions for the U.S., and the Economist offers solutions for EUrope, Asia, and other regions that need to create jobs.
Linked Articles
Countering Tech’s Damaging Effect on Jobs
Wall Street Journal 10/15/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
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