June 12, 2018
As Japan’s population ages and the birth rate is too low to sustain growth, the country is no stranger to coping with a limited number of working age people. […]
By David Lipton
We live in an era of doubts and questions about the global order. We have seen an erosion of trust in bedrock institutions—political parties, national governments, regional authorities, and among international trade and investment partners. […]
May 1, 2018
Many feel anxious about the impact of new technology on their jobs. This is not new. In fact, it dates back at least to the Luddites movement at the outset of the Industrial Revolution. And it resurfaced during the Great Depression and again in the 1960s, following a period of high productivity growth, and in the 1980s at the outset of the IT revolution.
December 4, 2017
Population growth and technological innovation don’t necessarily have to widen inequality in developing countries. They can also offer new opportunities to increase growth and create jobs: the long-term outcomes depend on today’s policy choices. But those choices are not easy because policies for sustained and inclusive growth may conflict with short-term needs. We look at the trade-offs and how to balance short- and long-term goals for sustainable and inclusive growth. […]
May 5, 2017
Hal Varian, chief economist at Google, says that if technology cannot boost productivity, then we are in real trouble.
In a podcast interview, Varian says thirty years from now, the global labor force will look very different, as working age populations in many countries, especially in advanced economies, start to shrink. While some workers today worry they will lose their jobs because of technology, economists are wondering if it will boost productivity enough to compensate for the shifting demographics—the so-called productivity paradox.