Rising Job Complexity and the Need for Government Guaranteed Work and Training

Jon Wisman and Nicholas Reksten

Chapter 1 in The Job Guarantee, 2013, pp 5-38 from Palgrave Macmillan

Abstract: Abstract Government, as Adam Smith pointed out over two centuries ago, must provide for certain public goods that would not be provided in adequate quantity by the private sector. He identified education as among these public goods (1981[1776], 651). Until fairly recent times, however, government was controlled by a small elite whose members mistakenly did not generally recognize greatly expanding educational opportunity as in their own interest. Myopically, their more immediate short-term interest blinded them to how, in a longer term, a better educated workforce would make everyone, including members of their own class, richer.

Keywords: Human Capital; Minimum Wage; Full Employment; Wage Inequality; Student Loan (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-29799-0_2

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DOI: 10.1057/9781137297990_2

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