Economy problem: Labor

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Literature Review: Labor problem for Economy

This “Ten Problems for Economy in the 2020s” booklet identifies ten relevant areas from very recent contributions put forward at academic level in the form journal articles, conference proceedings and students theses. Ten freely accessible internet references have been selected for each area and direct links are provided at the end of each chapter for own consultation. Our selected references do not intend to mirror ranking indexes nor establish novel classifications. On the contrary, they are meant to represent peer-reviewed, diverse and scientifically-sound case studies for vertical dissemination aimed at non-specialist readers. They will also be able to scoop even more references through the bibliography that is reported at the end of each selected reference.

Without further ado, these are the ten problems that we are going to introduce in this booklet:

  1. business, 
  2. finance,
  3. policies,
  4. technology,
  5. debt,
  6. labor,
  7. entrepreneurship,
  8. markets,
  9. wealth,
  10. growth.

Each problem has its own dedicated chapter made of an introductory section, a short presentation of the ten selected references and a conclusions section.

The final chapter of this booklet will report the conclusions from each chapter again in order to provide a complete executive summary.

6 Labor

THE PROBLEM — Capitalism is economically stable only if new investment creates jobs at least as fast as efficiency eliminates them, and physically sustainable only if sufficient material sources and pollution sinks exist to support new investment. In conditions of transformation of basic public life concepts, new paradigms and values emerge, increasing the instability of social environment. Labor market segmentation currently is at the forefront of national and international policy debates in developed countries for economic, political and safety or security issues.

CASE STUDIES — … buy this booklet from Amazon …

CONCLUSIONS — Twin problems arise from unsustainable capitalism: a labor problem, where technology may begin to eliminate more jobs than it creates; and an environmental problem, where industrial activities are breaching planetary boundaries that will limit our ability to meet basic human needs. Pandemics such as COVID-19 will strengthen the ongoing trend toward the automation and robotization of work. Thinking of the data supplied by United Kingdom internet users as the product of unremunerated labor brings the proposal that there is significant evidence to suggest that a 30-hour working week can provide a solution to a range of socioeconomic problems and productivity crisis. One important factor in achieving company goals is fostering healthy industrial relations between employees and companies. Increasing detachment from the labor force varies by basic demographic characteristics (gender and parental status), but a more important divide in the COVID-19 economy is education. The length of the industrial sector’s recovery post COVID-19 will depend on the speed of restoring its sectoral productivity rather than on international tourism demand. State and local governments should work to establish dynamic and transaction based minimum wage standards for independent workers. The deployment of wearable devices in the work environment can help monitor work processes, create a healthier and safer workplace, and improve the productivity of personnel. Still, the main challenge in the developed countries is the mismatch between the job requirements and workers qualifications and the main challenge for the developing countries is the quality of jobs. Multinationals adopting a zero-tolerance policy should consider disclosing their effort to combat child labor, for example through social responsibility report.

TEN FREE REFERENCES FROM THE INTERNET — … buy this booklet from Amazon …

“Ten Problems for Economy in the 2020s” booklet for Amazon Kindle, 2020; click on the cover to go to the dedicated Amazon listing page

booklet updated on 30 Mar 2021, now on sale as version 1.1

By TenProblems

Literature Reviews for Inquisitive Minds