Conventional welfare state policies that center on education, training, progressive taxation, and social insurance are inadequate to address labor market polarization, which is capitalism’s most pressing inclusion challenge at present. We propose a strategy aimed directly at the productive sphere of the economy and targeting an increase in the supply of ‘good jobs. The main elements of this strategy are: (i) active labour market policies linked to employers; (ii) industrial and regional policies directly targeting the creation of good jobs; (iii) innovation policies that incentivize labour-friendly technologies; (iv) international economic policies that facilitate the maintenance of high domestic labour/social standards. These elements are connected both by their objective—expanding the number of good jobs—and by a new approach to regulation that is collaborative and iterative rather than top-down and prescriptive. We emphasize the importance of new institutional arrangements that enable strategic long-term information exchange and cooperation between governments and firms.
Research Papers
Fixing Capitalism’s Good Jobs Problem. Oxford Review of Economic Policy. 2021.Abstract
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Economic Inequality and Insecurity: Policies for an Inclusive Economy.; 2021.
. Report Prepared for Commission Chaired by Olivier Blanchard and Jean Tirole on Major Future Economic Challenges, Republic of France
A Policy Matrix for Inclusive Prosperity. Economics for Inclusive Prosperity. 2021;Policy Brief No. 30.
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Labour Market Shocks and the Demand for Trade Protection: Evidence from Online Surveys. Economic Journal. 2020;130 :1008-1030.Abstract
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Putting Global Governance in its Place. The World Bank Research Observer. 2020;35 :1-18.
Why Does Globalization Fuel Populism? Economics, Culture, and the Rise of Right-Wing Populism. Annual Review of Economics. 2021;13 :133-70.Abstract
The Political Economy of Liberal Democracy. The Economic Journal. 2020.Abstract
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Economics After Neoliberalism: Introducing the EfIP Project. AEA Papers and Proceedings, 2020. Forthcoming.
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Rebirth of Industrial Policy and an Agenda for the Twenty-First Century. Journal of Industry, Competition and Trade. 2020.
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Building a Good Jobs Economy. Working Paper.
. November 2019
The Recent Growth Boom in Developing Economies: A Structural-Change Perspective. In: The Palgrave Handbook of Development Economics. Palgrave Macmillan ; 2019.Abstract
. August 2019
Economics After Neoliberalism. 2019.
Boston Review, February 15, 2019
New Technologies, Global Value Chains, and the Developing Economies. 2018.
University of Oxford, Pathways for Prosperity Commission, September 2018