The Race between Education and Technology

The Race between Education and Technology
Author: Claudia Goldin
Publisher: Harvard University Press
Total Pages: 497
Release: 2009-07-01
Genre: Business & Economics
ISBN: 0674037731

This book provides a careful historical analysis of the co-evolution of educational attainment and the wage structure in the United States through the twentieth century. The authors propose that the twentieth century was not only the American Century but also the Human Capital Century. That is, the American educational system is what made America the richest nation in the world. Its educational system had always been less elite than that of most European nations. By 1900 the U.S. had begun to educate its masses at the secondary level, not just in the primary schools that had remarkable success in the nineteenth century. The book argues that technological change, education, and inequality have been involved in a kind of race. During the first eight decades of the twentieth century, the increase of educated workers was higher than the demand for them. This had the effect of boosting income for most people and lowering inequality. However, the reverse has been true since about 1980. This educational slowdown was accompanied by rising inequality. The authors discuss the complex reasons for this, and what might be done to ameliorate it.

Inequality and the Labor Market

Inequality and the Labor Market
Author: Sharon Block
Publisher: Brookings Institution Press
Total Pages: 263
Release: 2021-04-06
Genre: Law
ISBN: 0815738811

Exploring a new agenda to improve outcomes for American workers As the United States continues to struggle with the impact of the devastating COVID-19 recession, policymakers have an opportunity to redress the competition problems in our labor markets. Making the right policy choices, however, requires a deep understanding of long-term, multidimensional problems. That will be solved only by looking to the failures and unrealized opportunities in anti-trust and labor law. For decades, competition in the U.S. labor market has declined, with the result that American workers have experienced slow wage growth and diminishing job quality. While sluggish productivity growth, rising globalization, and declining union representation are traditionally cited as factors for this historic imbalance in economic power, weak competition in the labor market is increasingly being recognized as a factor as well. This book by noted experts frames the legal and economic consequences of this imbalance and presents a series of urgently needed reforms of both labor and anti-trust laws to improve outcomes for American workers. These include higher wages, safer workplaces, increased ability to report labor violations, greater mobility, more opportunities for workers to build power, and overall better labor protections. Inequality in the Labor Market will interest anyone who cares about building a progressive economic agenda or who has a marked interest in labor policy. It also will appeal to anyone hoping to influence or anticipate the much-needed progressive agenda for the United States. The book's unusual scope provides prescriptions that, as Nobel Laureate Joseph Stiglitz notes in the introduction, map a path for rebalancing power, not just in our economy but in our democracy.

Causes and Consequences of Income Inequality

Causes and Consequences of Income Inequality
Author: Ms.Era Dabla-Norris
Publisher: International Monetary Fund
Total Pages: 39
Release: 2015-06-15
Genre: Business & Economics
ISBN: 1513547437

This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.

Information Technology and the U.S. Workforce

Information Technology and the U.S. Workforce
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
Total Pages: 199
Release: 2017-04-18
Genre: Computers
ISBN: 0309454050

Recent years have yielded significant advances in computing and communication technologies, with profound impacts on society. Technology is transforming the way we work, play, and interact with others. From these technological capabilities, new industries, organizational forms, and business models are emerging. Technological advances can create enormous economic and other benefits, but can also lead to significant changes for workers. IT and automation can change the way work is conducted, by augmenting or replacing workers in specific tasks. This can shift the demand for some types of human labor, eliminating some jobs and creating new ones. Information Technology and the U.S. Workforce explores the interactions between technological, economic, and societal trends and identifies possible near-term developments for work. This report emphasizes the need to understand and track these trends and develop strategies to inform, prepare for, and respond to changes in the labor market. It offers evaluations of what is known, notes open questions to be addressed, and identifies promising research pathways moving forward.

Evolving Households

Evolving Households
Author: Jeremy Greenwood
Publisher: MIT Press
Total Pages: 337
Release: 2019-01-29
Genre: Business & Economics
ISBN: 0262350866

The transformative effect of technological change on households and culture, seen from a macroeconomic perspective through simple economic models. In Evolving Households, Jeremy Greenwood argues that technological progress has had as significant an effect on households as it had on industry. Taking a macroeconomic perspective, Greenwood develops simple economic models to study such phenomena as the rise in married female labor force participation, changes in fertility rates, the decline in marriage, and increased longevity. These trends represent a dramatic transformation in everyday life, and they were made possible by advancements in technology. Greenwood also addresses how technological progress can cause social change. Greenwood shows, for example, how electricity and labor-saving appliances freed women from full-time household drudgery and enabled them to enter the labor market. He explains that fertility dropped when higher wages increased the opportunity cost of having children; he attributes the post–World War II baby boom to a combination of labor-saving household technology and advances in obstetrics and pediatrics. Marriage rates declined when single households became more economically feasible; people could be more discriminating in their choice of a mate. Technological progress also affects social and cultural norms. Innovation in contraception ushered in a sexual revolution. Labor-saving technological progress at home, together with mechanization in industry that led to an increase in the value of brain relative to brawn for jobs, fostered the advancement of women's rights in the workplace. Finally, Greenwood attributes increased longevity to advances in medical technology and rising living standards, and he examines healthcare spending, the development of new drugs, and the growing portion of life now spent in retirement.

World Development Report 2019

World Development Report 2019
Author: World Bank
Publisher: World Bank Publications
Total Pages: 201
Release: 2018-10-31
Genre: Business & Economics
ISBN: 1464813566

Work is constantly reshaped by technological progress. New ways of production are adopted, markets expand, and societies evolve. But some changes provoke more attention than others, in part due to the vast uncertainty involved in making predictions about the future. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today. Technological progress disrupts existing systems. A new social contract is needed to smooth the transition and guard against rising inequality. Significant investments in human capital throughout a person’s lifecycle are vital to this effort. If workers are to stay competitive against machines they need to train or retool existing skills. A social protection system that includes a minimum basic level of protection for workers and citizens can complement new forms of employment. Improved private sector policies to encourage startup activity and competition can help countries compete in the digital age. Governments also need to ensure that firms pay their fair share of taxes, in part to fund this new social contract. The 2019 World Development Report presents an analysis of these issues based upon the available evidence.

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies
Author: Erik Brynjolfsson
Publisher: W. W. Norton & Company
Total Pages: 320
Release: 2014-01-20
Genre: Business & Economics
ISBN: 0393239357

The big stories -- The skills of the new machines : technology races ahead -- Moore's law and the second half of the chessboard -- The digitization of just about everything -- Innovation : declining or recombining? -- Artificial and human intelligence in the second machine age -- Computing bounty -- Beyond GDP -- The spread -- The biggest winners : stars and superstars -- Implications of the bounty and the spread -- Learning to race with machines : recommendations for individuals -- Policy recommendations -- Long-term recommendations -- Technology and the future (which is very different from "technology is the future").