A timely piece from The
Economist:
“Populism, economic concentration and regulation are some
of the reasons foreign bosses are souring on the land of the free”
The US has the highest liability cost amongst advanced
economies:
According to an US Chamber - Institute for Legal Reform study:
“U.S. liability
costs are four times higher than those of the least costly European countries
in our study – Belgium, the Netherlands and Portugal.”Related:
Worker Quality and the US Manufacturing Sector - An
insightful piece from Reuters:
“James L. Brown tried to hire a dozen workers for his
metal foundry here. Half of them flunked the drug test. Those results are typical, says the president of
Bremen Castings Inc, a family-owned employer of 350 workers who make parts for
trucks and other equipment. Drug problems are one factor contributing to a
labor shortage that delayed filling orders earlier this year. "We’ve become a recruiting company,” Brown said of the
relentless struggle to maintain a strong workforce.
Bremen Castings illustrates the central tension in
U.S. manufacturing: Plant managers complain of a talent shortage, while workers
see too few acceptable jobs.”
The Problem of Low-Skilled Men in Advanced Economies
The Economist has an excellent essay on a
massive economic and social problem in advanced economies
“Technology and trade mean that rich countries have
less use than they once did for workers who mainly offer muscle. A mechanical
digger can replace dozens of men with spades; a Chinese steelworker is cheaper
than an American. Men still dominate risky occupations such as roofer and
taxi-driver, and jobs that require long stints away from home, such as trucker
and oil-rig worker. And, other things being equal, dirty, dangerous and
inconvenient jobs pay better than safe, clean ones. But the real money is in
brain work, and here many men are lagging behind. Women outnumber them on
university campuses in every region bar South Asia and sub-Saharan Africa. In
the OECD men earn only 42% of degrees. Teenage boys in rich countries are 50%
more likely than girls to flunk all three basic subjects in school: maths,
reading and science.”