America’s labor market has entered a “new normal” phrase. Although the unemployment rate has declined after the Great Recession, underemployment remains a major problem and the percentage of workers stuck in part-time jobs is well above historical norms. Yet, at the same time, employers are posting a record number of positions. Professor Joseph Fuller suggests that resolving this paradox will require education institutions and employers to adopt a new approach to skills training.
By: Christian Ketels
A new framing of competitiveness clarifies the role of regions.
The U.S. corporate tax code is broken. High rates and perverse incentives drive capital away from the corporate sector and toward other uses and countries. Professor Mihir A. Desai believes a handful of changes could fix all that.
Some of the world’s most original thinkers explain the competitiveness challenge America faces and point the way forward.
Professors Robin Greenwood and David Scharfstein make recommendations in three important domains in which the U.S. financial system has underperformed: financial stability, housing finance, and investment costs.
Across the political spectrum, there is consensus that the United States faces challenges to its competitiveness. Current U.S. fiscal policy is, unfortunately, part of the problem rather than the solution, according to Professors Richard H.K. Vietor and Matthew C. Weinzierl.
The last three decades have seen American capitalism transformed by a simple idea—that the evaluation and compensation of managers and investors should be outsourced to financial markets, says Professor Mihir A. Desai.