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jerryking : talent_allocation   3

Skills Don’t Pay the Bills - NYTimes.com
Illustration by Peter Oumanski
By ADAM DAVIDSON
Published: November 20, 2012

As the instructor Joseph Goldenberg explained, today’s skilled factory worker is really a hybrid of an old-school machinist and a computer programmer. Goldenberg’s intro class starts with the basics of how to use cutting tools to shape a raw piece of metal. Then the real work begins: students learn to write the computer code that tells a machine how to do it much faster....many believe that the manufacturing's future (and, to some extent, the future of the American economy) lies in training a new generation for highly skilled manufacturing jobs — the ones that require people who know how to run the computer that runs the machine.

This is partly because advanced manufacturing is really complicated. Running these machines requires a basic understanding of metallurgy, physics, chemistry, pneumatics, electrical wiring and computer code. It also requires a worker with the ability to figure out what’s going on when the machine isn’t working properly...yet, even as classes like Goldenberg’s are filled to capacity all over America, hundreds of thousands of U.S. factories are starving for skilled workers....The secret behind this skills gap is that it’s not a skills gap at all. I spoke to several other factory managers who also confessed that they had a hard time recruiting in-demand workers for $10-an-hour jobs....Yet according to the Bureau of Labor Statistics, the number of skilled jobs has fallen and so have their wages... “Trying to hire high-skilled workers at rock-bottom rates,” the BCG study asserted, “is not a skills gap.” The study’s conclusion, however, was scarier. Many skilled workers have simply chosen to apply their skills elsewhere rather than work for less, and few young people choose to invest in training for jobs that pay fast-food wages. As a result, the United States may soon have a hard time competing in the global economy....It’s easy to understand every perspective in this drama. Manufacturers, who face increasing competition from low-wage countries, feel they can’t afford to pay higher wages. Potential workers choose more promising career paths. “It’s individually rational,” says Howard Wial, an economist at the Brookings Institution who specializes in manufacturing employment. “But it’s not socially optimal.”...this isn’t a narrow problem facing the manufacturing industry. The so-called skills gap is really a gap in education, and that affects all of us.
highly_skilled  skilled_trades  skills  skills_training  manufacturers  BCG  education  low-wage_countries  talent_allocation  skills_gap  paradoxes  global_economy  young_people  skills_shortage 
november 2012 by jerryking
The Untapped Talent That Can Juice the Economy - BusinessWeek
September 30, 2011, 4:25 PM EDT

...Trying to stimulate the economy by encouraging more people to go into business for themselves doesn’t appear to work. That’s because entrepreneurial talent can’t be quickly built by giving people a short class in writing a business plan or using QuickBooks. If we can influence entrepreneurial talent at all—an open question—it takes long-term investments in education.....The levers policymakers can influence in the short term—giving entrepreneurs more access to credit or training people in business startup skills—also do little because these factors are only a small part of what limits the supply of entrepreneurial talent. .... Instead of trying to increase the amount of entrepreneurial talent in the economy, policymakers should provide incentives to reallocate that talent from unproductive or destructive forms of entrepreneurship to more productive forms.
To Baumol, entrepreneurship takes three forms: productive, unproductive, and destructive. Productive entrepreneurship is the kind we all want. ...policymakers will get more bang for the policy buck if they concentrate instead on encouraging those who have entrepreneurial talent to use it for productive purposes.

Examples of incentive are: tax earnings from business activities that merely shift wealth from one party to another at a higher rate than money made from productive entrepreneurship. We could forgive student loans of productive entrepreneurs, but not the unproductive ones. We could even make credit cheaper for productive entrepreneurs than for the wealth-shifting types.

Efforts to encourage anyone to start a business have done little for growth. Getting skilled professionals to focus on "productive" ventures makes more sense

By Scott Shane
entrepreneurship  policymaking  policymakers  economists  small_business  productivity  talent_allocation  gazelles  incentives 
october 2011 by jerryking
Op-Ed Columnist - The Summoned Self - NYTimes.com
August 2, 2010 | New York Times | By DAVID BROOKS. the
Well-Planned Life: Find a clear purpose for your life. Once you have an
overall purpose, make decisions about allocating your time, energy and
talent. Qualifier: People with a high need for achievement commonly
misallocate their resources, favouring things that will yield tangible
and near-term accomplishments (often work-related) at the expense of
other things (e.g. the long term work of a parent raising a child) that
may be more important. Life appears as a well-designed project,
carefully conceived in the beginning, reviewed and adjusted along the
way and brought toward a well-rounded fruition. vs. the Summoned Life:
Life as an unknowable landscape to be explored. the most important
features of the human landscape are commitments that precede choice —
commitments to family, nation, faith or some cause. These commitments
defy the logic of cost and benefit, investment and return.
achievement-oriented  Clayton_Christensen  commitments  David_Brooks  life_skills  misallocations  purpose  resource_allocation  talent_allocation  time-management  unknowables  well-rounded 
august 2010 by jerryking

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