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Fixing capitalism’s good jobs problem
[‘Artificial Intelligence, Automation and Work’]

Author

Listed:
  • Dani Rodrik
  • Stefanie Stantcheva

Abstract

Conventional welfare state policies that centre on education, training, progressive taxation, and social insurance are inadequate to address labour 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.

Suggested Citation

  • Dani Rodrik & Stefanie Stantcheva, 2021. "Fixing capitalism’s good jobs problem [‘Artificial Intelligence, Automation and Work’]," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 37(4), pages 824-837.
    • Handle: RePEc:oup:oxford:v:37:y:2021:i:4:p:824-837.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grab024
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    Citations

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    Cited by:

    1. Vona, Francesco, 2023. "Managing the distributional effects of climate policies: A narrow path to a just transition," Ecological Economics, Elsevier, vol. 205(C).
    2. Anna Stansbury & Dan Turner & Ed Balls, 2023. "Tackling the UK’s regional economic inequality: binding constraints and avenues for policy intervention," Contemporary Social Science, Taylor & Francis Journals, vol. 18(3-4), pages 318-356, August.
    3. Charlotte Bez & Maria Enrica Virgillito, 2022. "Toxic pollution and labour markets: uncovering Europe's left-behind places," LEM Papers Series 2022/19, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    4. Rebecca M Henderson, 2021. "Changing the purpose of the corporation to rebalance capitalism [‘Towards Collaborative Community’]," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 37(4), pages 838-850.
    5. Vona, Francesco, 2023. "Skills and human capital for the low-carbon transition in developing and emerging economies," FEEM Working Papers 338778, Fondazione Eni Enrico Mattei (FEEM).
    6. Ali Babaee & Iman Miremadi & Ali N. Mashayekhi, 2023. "Bio‐pharma in Iran: Escaping the middle‐income trap," Development Policy Review, Overseas Development Institute, vol. 41(2), March.
    7. Francesco Vona, 2023. "Skills and human capital for the low-carbon transition in developing and emerging economies," Working Papers 2023.19, Fondazione Eni Enrico Mattei.
    8. Ernst, Ekkehard & Merola, Rossana & Reljic, Jelena, 2024. "Fiscal policy instruments for inclusive labour markets: A review," GLO Discussion Paper Series 1406, Global Labor Organization (GLO).
    9. Dedola, Luca & Ehrmann, Michael & Hoffmann, Peter & Lamo, Ana & Paz-Pardo, Gonzalo & Slacalek, Jiri & Strasser, Georg, 2023. "Digitalisation and the economy," Working Paper Series 2809, European Central Bank.
    10. repec:ecb:ecbdps:202323 is not listed on IDEAS
    11. Pollio, Chiara & Landini, Fabio & Prodi, Elena & Arrighetti, Alessandro, 2023. "Does Temporary Employment undermine the Quality of Permanent Jobs?," GLO Discussion Paper Series 1273, Global Labor Organization (GLO).

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