Tag: "productivity"
Fordism Comes to Asia (& How it Will Change the Global Economy)
WorldCrunch has an interesting piece by Jean-Marc Vittori from Les Echos on how labor costs are rising in Asia and how that will affect the global economy. Here is the crux of his argument: We need to rethink how we view the world economy. The huge gap between European and Asian salaries is reducing at [...]
Which are the Most Productive State Economies?
The Economist’s Free Exchange blog has a graph comparing the productivity of state economies (measured in GDP output per hour worked) versus the extent of urbanization. The conclusion? More urbanized states tend to have higher productivity. To take it a bit further, there are some highly urbanized states that are even more productive than they [...]
The Impact of the “Digitalization” of Services
Economists Ejaz Ghani and Arti Grover of the World Bank along with Homi Kharas of the Brookings Institution argue that the rise of cheap information technology has provided a real spur for the growth of globally traded services: Although conventional wisdom has been that labour-intensive manufacturing creates the most jobs in developing countries, recent data suggest [...]
Yet Another Reason Why Manufacturing Jobs Matter . . . And Can be Hard to Create
This from Harvard economist Dani Rodrik: His cross national comparisons suggest that, unlike other sectors, manufacturing in developing economies will eventually see its labor productivity rise to converge with the manufacturing labor productivity of developed economies. Why does he thinks this happens? These industries produce tradable goods and can be rapidly integrated into global production [...]
10 Million US Jobs are Missing
That’s according to calculations by Northwestern University economist Robert J Gordon: High and persistent unemployment in the US has emerged as one of the most important macroeconomic legacies of the 2007-09 world economic crisis. While the decline of business activity in the US was no larger than in Europe, the US is an outlier in [...]
Will Manufacturing Save Us?
It is a tall order, especially given the incredibly destructive policies foisted on us by the Tea Partiers, but some folks think that the economy may be helped by a manufacturing renaissance. We mentioned this in April. It is a shame that the wingnuts in the House have created such havoc, because between technological innovation [...]
