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Alternative: create in-country employment opportunities for people BEFORE they choose to emigrate or circumstances force them to become refugees.

What if those not seeking jobs are finding alternative ways to meet their basic needs outside of the reported job market? And does an increase in this number suggest that whatever systems they use to achieve such an end function in their favor, become more robust, and attract others to adopt them as well?

"The core of the revolt against global integration, though, is not ignorance. It is a sense, not wholly unwarranted, that it is a project carried out by elites for elites with little consideration for the interests of ordinary people - who see the globalisation agenda as being set by big companies playing off one country against another. They read the revelations in the Panama Papers and conclude that globalisation offers a fortunate few the opportunities to avoid taxes and regulations that are not available to the rest. And they see the disintegration that accompanies global integration, as communities suffer when big employers lose to foreign competitors."

"Uber exists in a kind of legal and ethical purgatory, however. Because its drivers are independent contractors, they lack most of the protections associated with employment. By mastering their workers' mental circuitry, Uber and the like may be taking the economy back toward a pre-New Deal era when businesses had enormous power over workers and few checks on their ability to exploit it."

"This has fundamental implications for how one thinks about current challenges. Globalisation and technological change are often portrayed as exogenous forces sweeping across the rich countries, inexorably driving up inequality and forcing workers to accept wage stagnation (and often less security) if they are to hold on to their jobs. Instead, the variation in country experiences shows how much institutions and policy responses matter to how these forces - themselves subject to human agency rather than God-given - play out in the job market and affect household disposable incomes. Wage-setting institutions clearly have a critical influence. The Belgian combination of wages indexed to inflation, collective agreements covering most workers, and a high minimum wage underpinned significant wage growth across the distribution. In Australia, the extension of collectively negotiated employment terms and conditions over much of the work force, together with a very high minimum wage, play a key role. By contrast, the remarkably poor earnings performance of the UK over the last decade is in a context where wage bargaining has become individualised."

Groups of firms often achieve a competitive advantage through the formation of geo-industrial clusters. Although many exemplary clusters are the subjects of case studies, systematic approaches to identify and analyze the hierarchical structure of geo-industrial clusters at the global scale are scarce. In this work, we use LinkedIn's employment history data from more than 500 million users over 25 years to construct a labor flow network of over 4 million firms across the world, from which we reveal hierarchical structure by applying network community detection. We show that the resulting geo-industrial clusters exhibit a stronger association between the influx of educated workers and financial performance, compared to traditional aggregation units. Furthermore, our analysis of the skills of educated workers reveals richer insights into the relationship between the labor flow of educated workers and productivity growth. We argue that geo-industrial clusters defined by labor flow provide useful insights into the growth of the economy.

" Fearless commentary on finance, economics, politics and power Follow yvessmith on Twitter Feedburner RSS Feed RSS Feed for Comments Subscribe via Email SUBSCRIBE Recent Items Links 3/11/17 - 03/11/2017 - Yves Smith Deutsche Bank Tries to Stay Alive - 03/11/2017 - Yves Smith John Helmer: Australian Government Trips Up Ukrainian Court Claim of MH17 as Terrorism - 03/11/2017 - Yves Smith 2:00PM Water Cooler 3/10/2017 - 03/10/2017 - Lambert Strether Why a 400-Year Program of Modernist Thinking is Exploding - 03/10/2017 - Yves Smith Links 3/10/17 - 03/10/2017 - Yves Smith Why It Will Take a Lot More Than a Smartphone to Get the Sharing Economy Started - 03/10/2017 - Yves Smith CalPERS' General Counsel Railroads Board on Fiduciary Counsel Selection - 03/10/2017 - Yves Smith Another Somalian Famine - 03/10/2017 - Yves Smith Trade now with TradeStation - Highest rated for frequent traders Why a 400-Year Program of Modernist Thinking is Exploding Posted on March 10, 2017 by Yves Smith By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Across the globe, a collective freak-out spanning the whole political system is picking up steam with every new "surprise" election, rush of tormented souls across borders, and tweet from the star of America's great unreality show, Donald Trump. But what exactly is the force that seems to be pushing us towards Armageddon? Is it capitalism gone wild? Globalization? Political corruption? Techno-nightmares? Rajani Kanth, a political economist, social thinker, and poet, goes beyond any of these explanations for the answer. In his view, what's throwing most of us off kilter - whether we think of ourselves as on the left or right, capitalist or socialist -was birthed 400 years ago during the period of the Enlightenment. It's a set of assumptions, a particular way of looking at the world that pushed out previous modes o