It is generally accepted that human capital is an important factor in economic growth, but its impact on growth depends on the demand for education and skills on the labor market. Demand for human capital is largely determined by the institutional environment that governs the basic conditions for economic activity. The author expresses ten doubts…

All of the authors seem to share the perception that one can no longer expect much from macroeconomic policies. The authors of this paper share this opinion, but this should not be interpreted as the skeptical view that macroeconomic policies are ineffective on employment. They saw from the Korea's two crises how contrasting outcomes could result…

The Great Recession left a crater in the labor market that has been devastating for unemployed Americans of all ages. After more than two years of unemployment at well over 8%, there is a hole of more than 11 million jobs, with average spells of unemployment lasting nearly nine months. The weak labor market has been particularly tough on young…

This third special report of the National Commission for Manpower Policy provides information regarding the ways that European nations were dealing with complex manpower problems similar to the ones faced by the United States during the recession of 1974-1975. Following a brief introductory section, section 2 reviews the methods used by the…

Papers presented at the 25th meeting of the Industrial Relations Research Association (IRAA) covered issues that are central to industrial relations in North America. Papers and discussions dealt with these major issues: (1) Prices and Income Policy: Comparative Aspects, (2) Dispute Settlement in the Public Sector, (3) Manpower Policies in Canada…

Written under a contract with the National Commission for Manpower Policy, this book contains eight chapters (each by a separate author) intended to aid in charting a national employment strategy and assessing the goal of full employment. Three main themes that pervade the book are (1) the responsibility of the federal government to create jobs,…

Technological, demographic, and competitive pressures have transformed the U.S. labor market and must be dealt with on a priority basis. The urgency of the problem can best be addressed by creating a national institution that is independent of government, business, and labor but that draws on all three sectors to develop a broad array of policies…

This document's seven papers examine compensation and employment risk in the United States and Canada. "Introduction" (John A. Turner) discusses compensation risk bearing in labor markets. "Wage and Job Risk for Workers" (John A. Turner) explores the problems of macroeconomic instability, job turnover, job and earnings…