The International Labor Organization has stated that there is still no solution to the Global Jobs Crisis. http://www.cnbc.com//id/47226507
I have held this view for a long time. I do not see how the world can create enough jobs, when those with jobs are working long hours and the available work has been reduced through mechanization and other labor saving devices.
The only solution is to reduce the number of hours of work, so that the available work can be distributed fairly among those who are willing and able to work. Some economists have suggested a 20 hour work week.
It is not possible a country to be competitive, if its people work shorter hours than workers in other countries. We need to have an international agreement to reduce the working hours, or to implement some form of protectionism of certain domestic jobs. There is no other solution.
I have held this view for a long time. I do not see how the world can create enough jobs, when those with jobs are working long hours and the available work has been reduced through mechanization and other labor saving devices.
The only solution is to reduce the number of hours of work, so that the available work can be distributed fairly among those who are willing and able to work. Some economists have suggested a 20 hour work week.
It is not possible a country to be competitive, if its people work shorter hours than workers in other countries. We need to have an international agreement to reduce the working hours, or to implement some form of protectionism of certain domestic jobs. There is no other solution.
My view is that we need to have a resurgence also in cooperatives in singapore which can bring jobs back to singapore and also improve the resilience of our food, energy and water systems.
ReplyDeleteHere are the benefits of a coop http://stirtoaction.com/?p=1483
Mr Tan, based on your previous experience you should understand the huge benefit of a coop, unfortunately after you left, i think NTUC is behaving not like a coop anymore more like any other commercial business.
Imagine Europe was supporting a 35-hr work-week, but still ended up what it is today...
ReplyDeleteBetween plan economy and market economy, both economist and politician are yet to find a solution for fair distribution of income. The humankind is learning.
ReplyDeleteBuddha's saying: Life is suffering.