SDG 08: Decent Work and Economic Growth Dynamic Briefing Generated 04 October 2020 for Marco Antonio Gonzalez
SDG 08: Decent Work and Economic Growth Last review on Tue 03 September 2019
About This dynamic briefing draws on the collective intelligence of the Forum network to explore the key trends, interconnections and interdependencies between industry, regional and global issues. In the briefing, you will find a visual representation of this topic (Transformation Map – interactive version available online via intelligence.weforum.org ), an overview and the key trends affecting it, along with summaries and links to the latest research and analysis on each of the trends. Briefings for countries also include the relevant data from the Forum’s benchmarking indices. The content is continuously updated with the latest thinking of leaders and experts from across the Forum network, and with insights from Forum meetings, projects communities and activities.
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Executive summary This Transformation Map provides a contextual briefing for one of the Sustainable Development Goals the United Nations’ framework for making real progress towards a more sustainable future by the year 2030 - by mapping related strategic issues and interdependencies. The content, including attached key issue headings and texts, is drawn from expert- and machine-curated knowledge on the World Economic Forum’s Strategic Intelligence platform; it is not a reproduction of the official text of the SDG. The UN introduces this Goal as follows: 'Roughly half the world’s population still lives on the equivalent of about US$2 a day with global unemployment rates of 5.7% and having a job doesn’t guarantee the ability to escape from poverty in many places. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty. A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. Even though the average annual growth rate of real GDP per capita worldwide is increasing year on year, there are still many countries in the developing world that are decelerating in their growth rates and moving farther from the 7% growth rate target set for 2030. As labor productivity decreases and unemployment rates rise, standards of living begin to decline due to lower wages. Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population. There needs to be increased access to financial services to manage incomes, accumulate assets and make productive investments. Increased commitments to trade, banking and agriculture infrastructure will also help increase productivity and reduce unemployment levels in the world’s most impoverished regions.'
1. A Just Transition
6. Inclusive Growth
An idea spawned by unions has evolved into a global push for responsible environmental protection.
A failure to improve living standards and reduce inequality has worsened social divides.
2. Inclusive Labour Markets
7. Productivity and Competitiveness
The technological disruption of labour markets creates challenges and opportunities for a wide variety of people.
Productivity is difficult to measure, but essential for increasing prosperity.
3. Job Creation and Entrepreneurship
8. The Silver Economy
The global economy is slow to generate new jobs, creating a need for new approaches.
Engaged, productive older workers and consumers are proven drivers of economic growth.
4. Disruption to Jobs and Skills The Fourth Industrial Revolution is shifting job roles and generating demand for new skills.
5. Balance of Care and Careers Innovative care-related policies are bringing more women into the workforce.
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A Just Transition An idea spawned by unions has evolved into a global push for responsible environmental protection The concept of a “just transition” was originally developed by labour unions in the 1990s, to describe providing support for workers who had lost their jobs due to environmental protection policies. It has since morphed into a widely promoted means to secure shared prosperity, while also protecting the environment. In the lead-up to the Paris Agreement on climate change negotiated in 2015, unions and their allies successfully lobbied to get prominent text on a just transition into the agreement, according to a report published by the Organisation for Economic Co-operation and Development in 2017. The United Nations Sustainable Development Goals also reflect the agenda of just transition, according to the report, which noted positive, related developments including renewable energy being on track to account for half of the European Union’s energy supply by 2030, and the renewable energy industry’s employment of more than 8 million people worldwide as of 2015. In general, a just transition will shift employment out of carbon-intensive sectors, and create good, new alternative jobs - particularly in low-income areas (it also involves limiting increases for energy costs, in the interest of low-income families). Perceptions of the legitimacy of dramatically shifting to hightechnology, low-carbon, and environmentally-sustainable economic models will be influenced by the extent to which this is done in an inclusive way. This should be a key consideration not just for policy-makers, but also for business leaders, technology developers, and environmental experts. There is some evidence that policy-makers in different countries have started taking this factor into account as they make efforts to transition economies. For example, China spent the equivalent of about $3.4 billion in 2017 on resettling nearly 400,000 workers who had been laid off due to government efforts to reduce the country’s steel and coal production capacity, as part of broader efforts to deal with supply gluts in each sector. In addition, in 2016, the Canadian government announced that as part of its accelerated phasing out of traditional coal power it would work with provinces and labour organizations to ensure that affected workers are successfully included in the transition to a low-carbon economy. Related insight areas: Future of Economic Progress, Values, Sustainable Development, China, Global Governance, Mining and Metals, Workforce and Employment, Canada, Education and Skills
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Latest knowledge In Depth News
United Nations Environment
In Quest of Data-Based Solutions for A Sustainable Future
Halving food waste and raising climate ambition: SDG 12.3 and the Paris Agreement
01 October 2020
30 September 2020 More than 2,000 participants from the data user and producer communities will discuss in the first-ever fully virtual UN World Data Forum, from October 19-21, some of the greatest data challenges in our fast-changing world. They will identify innovative solutions to intensify cooperation on data for sustainable development. Renew the urgent call for more and better funding for data. “In a world wracked by COVID-19, we need data-based solutions to guide our way to a sustainable future,” said Francesca Perucci, Assistant Director of UN DESA’s Statistics Division.
Food loss and waste generate an estimated 8 per cent of global greenhouse gas emissions while using land and water resources needlessly and increasing pressure on biodiversity. Sustainable Development Goal 12.3 calls for a halving of food waste at retail and household level, and a reduction of food loss across the supply chain. Champions 12.3, a high-level coalition formed to deliver this strategic target, counts…. United Nations Environment
The future is circular: what biodiversity really means
United Nations Environment
Historic UN Summit on Biodiversity sets stage for a global movement toward a green recovery from COVID19
30 September 2020 Subtle shifts aren’t good enough, says Doreen Robinson, Chief of Wildlife at the United Nations Environment Programme (UNEP). It’s time for a system-wide transformation. On the day of the UN Summit on Biodiversity, Robinson explains where we’ve gone wrong and how we can do better. .
01 October 2020 New York, 30 September 2020 — Recognizing that the continued deterioration and degradation of the world’s natural ecosystems were having major impacts on the lives and livelihoods of people everywhere, world leaders called for increased resolve to protect biodiversity at the UN today. A record number of countries - nearly 150 countries and 72 Heads of State and Government addressed the first ever Summit held on….
Project Syndicate
A Cool New Energy-Efficiency Policy 30 September 2020 A single change in our approach to energy efficiency can enable more people around the world to stay cool, benefit consumers, and flatten the curve on cooling-related energy demand and emissions. If we want climate-friendly AC, we need to leap toward the technology ceiling, rather than hover just above the technology floor.
Rocky Mountain Institute
Clean Energy Is Canceling Gas Plants 30 September 2020 While COVID-19 has disrupted many aspects of the economy and daily life in 2020, the trend toward clean electricity is still going strong. Renewable energy and storage technology costs continue to fall, with expanding adoption by utilities and other investors,... Read More The post Clean Energy Is Canceling Gas Plants appeared first on Rocky Mountain Institute . Project Syndicate
The No DICE Carbon Price 30 September 2020 If there is a single issue that matters more than any other in the broader debate about climate change, it is how to price carbon dioxide emissions. The battle against catastrophic global warming will have already been lost if those advocating a low figure come out on top.
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Inclusive Labour Markets The technological disruption of labour markets creates challenges and opportunities for a wide variety of people The vast number of educated, motivated people who are nonetheless unemployed, underemployed, or stuck in lowquality employment highlights the need for better ways of connecting talent to economic opportunity. Though it may depend on the specific challenges shaping a particular labour market, related efforts should generally involve enabling people from a variety of circumstances and backgrounds to gain access to better professional networks. Young people in particular could benefit from new digital platforms, which can enable connections and help unlock greater potential for accessing talent. The World Economic Forum’s 2018 edition of its Future of Jobs report highlighted the need to effectively manage the transformation of work, as new technologies re-configure work and replace workers entirely. At the same time, it is essential to make the opportunities that continue to exist to obtain increasingly indemand jobs in high-skilled, technology-intensive fields accessible based purely on merit - regardless of age, gender, or origin.
Related insight areas: Systemic Racism, Social Innovation, Entrepreneurship, Fourth Industrial Revolution, Gender Parity, The Great Reset, Digital Economy and New Value Creation
The Forum’s 2017 Global Gender Gap Report revealed the degree to which gender-polarized educational specialization is fuelling industry-level gender imbalances. The gender gap in science, technology, engineering and mathematics (STEM) education remains wide, for example. STEM-related fields include engineering, manufacturing and Construction (EMC), and information and communication technology (ICT). According to the 2017 Global Gender Gap Report, globally, 19% of male university graduates pursue EMC degrees, and 7% pursue ICT degrees. By way of contrast, only 6% of female graduates pursue EMC degrees, and 3% study ICT. It is critical that as they examine the scale of STEM gender gaps, decision-makers pay close attention to where these gaps are situated; currently, efforts to close the gender gap in terms of software skills is not matched by equivalent attention to women’s unequal participation in EMC-related specialization, for example. This imbalance undercuts the ability of employers to include women on an equal footing when recruiting in tech-specialized fields. Still, there is more to addressing inclusion than simply reforming education; research has shown that qualified women often exit technology industries because they have concerns about the workplace environment. Other analyses have highlighted a lack of ethnic diversity and ageism prevalent in some of today’s most lucrative and fast-growing industries. In 2016, for example, a judge conditionally certified a class action lawsuit against Google alleging that it declined to hire qualified job candidates because they were too old.
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Latest knowledge Peterson Institute for International Economics
World Economic Forum
Challenge facing US labor market worsened in September even as the headline numbers improved
How $1 scratch cards are helping farmers invest for the future 29 September 2020
02 October 2020 A new scheme allows farmers to put aside small amounts of cash during the dry season to pay for seed and fertilizer to increase harvests when the rains come.
The US economy added 661,000 jobs in September, a substantial increase but much slower than the increases in recent months. At the same time, the number of workers who reported being on temporary layoff fell by 1.5 million, while the number of workers who were unemployed for other reasons rose...
New African Magazine
AfroLandTV: A disruptive new force in Africa's film industry 29 September 2020
RAND Corporation
Developing Recovery Options for Puerto Rico's Economic and Disaster Recovery Plan
Adaora Oramah looks at how a new pan-African streaming platform aims to disrupt the political economy of the film industry in Africa and beyond. “Our stories are for everyone” proclaims AfroLandTV ’s website, the newly launched streaming platform that brings African movies to viewers’ screens. Recognised as a leading top media startup for 2020 by the prestigious Berlinale International Film Festival, in Germany, the Afrocentric streaming service invites you into a world of drama, comedy, thriller and romance, all played by strong Black leads. Its founder, Zimbabwean actor turned entrepreneur, Michael Maponga, has realised his vision to develop a subscription video-on-demand (SVOD) streaming platform featuring and curating Pan-African film and television content. ”We’re bridging Pan-African stories globally.
30 September 2020 This report summarizes the strategic planning process in support of the government of Puerto Rico in its development of a congressionally mandated recovery plan. Asian Development Bank
Assessing the Impact of the United States–People’s Republic of China Trade Dispute Using a Multiregional Computable General Equilibrium Model 30 September 2020
European Council on Foreign Relations
Europe’s recovery gamble
ASSESSING THE IMPACT OF THE UNITED STATES– PEOPLE’S REPUBLIC OF CHINA TRADE DISPUTE USING A MULTIREGIONAL COMPUTABLE GENERAL EQUILIBRIUM MODEL Elisabetta Gentile, Gen Li, and Mahinthan Joseph Mariasingham 620 September 2020 ADB ECONOMICS WORKING PAPER SERIES ASIAN DEVELOPMENT BANK ADB Economics Working Paper Series Assessing the Impact of the United States– People’s Republic of China Trade Dispute Using a Multiregional Computable General Equilibrium Model Elisabetta Gentile, Gen Li, and Mahinthan Joseph Mariasingham No. 620 | September 2020 Elisabetta Gentile (egentile@adb.org) is an economist in the Economic Research and Regional Cooperation Department (ERCD), Asian Development Bank (ADB). Gen Li (li.gen@nies.go.jp) is a research assistant at the National Institute for Environmental Studies, Japan.
28 September 2020 If the European Union’s new recovery programme succeeds, it may ultimately pave the way for the establishment of a fiscal union. But, if the EU funds fail to deliver on the plan’s stated goals, federal aspirations will be dashed for a generation. RAND Corporation
Federal Civilian Workforce Hiring, Recruitment, and Related Compensation Practices for the Twenty-First Century 28 September 2020 The federal government is working to enable simple and strategic hiring practices. Toward this end, the authors identified best practices for recruiting, hiring, and compensation in federal demonstration projects and alternative personnel systems.
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Job Creation and Entrepreneurship The global economy is slow to generate new jobs, creating a need for new approaches The pace of global job creation has been sluggish. In addition, when new jobs are created they are often not of a high quality, or the related process is not inclusive, according to the International Labour Organization’s 2017 World Employment and Social Outlook report. Emerging economies, where an estimated 3.6 million additional people joined the ranks of the unemployed between 2016 and 2017, have been particularly affected. Job creation in these countries will need to keep pace with local demographic dynamics (such as relatively youthful populations, and expanding middle classes), and better attention must be paid to providing safe, quality employment. Young people continue to be disproportionately affected by global unemployment; the unemployment rate for youth is nearly three times higher than it is for the adult population, according to the International Labour Organization's report, while in subSaharan Africa alone an estimated 12.4 million young people will enter the labour force during the next four years. In order to ensure that as many young people as possible are able to productively enter the workforce, and keep pace with rapid technological change, existing job creation strategies need to be complemented by new models and approaches. In addition, there should be a greater focus on promoting entrepreneurship - a crucial driving force behind job growth, which will only become more prominent as the Fourth Industrial Revolution proceeds. The 2012 report Why Becoming Large Matters: How Scalable, High-Growth Entrepreneurs Can Help Solve the Jobs Crisis, published by Omidyar Network and Endeavor Insight, estimated that highgrowth entrepreneurial firms, on average, create more than 200 jobs as they expand. That is significantly more than traditional small- and medium-sized enterprises. Enabling startups to quickly scale up in size is therefore one of the most important mechanisms for policy-makers and business leaders to focus on, in order to help solve the global job creation crisis. One particular tool that has drawn interest from governments in many regions is the so-called startup accelerator, or a program designed to help early-stage companies develop business plans and funding opportunities, while they receive mentorship and corporate introductions. A report published by the government in the United Kingdom in 2017 found that there were 163 accelerator programs active in the UK alone. Related insight areas: Global Risks, Gender Parity, Entrepreneurship, Future of Economic Progress, Public Finance and Social Protection, Fourth Industrial Revolution
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Latest knowledge International Monetary Fund (IMF)
National Association of Corporate Directors
Fiscal Monitor, October 2020
What Changing Director Demographics Tell Us about Board Work
01 October 2020
28 September 2020 VoxEU
Shifts in board turnover, demographics, size, and skill sets reflect the changing nature of board work—and how far boards still have to go to achieve gender parity.
Covid-19 and socio-political attitudes in Europe 01 October 2020
Center for Global Development
The Curse of Falling Expectations
The COVID-19 shock prompted an economic collapse unrivalled in peacetime. Using a large survey conducted during the pandemic’s first wave, this column measures the impact of the crisis on socio-political attitudes in Italy, Spain, Germany, and the Netherlands. The results show severe drops in interpersonal and institutional trust, as well as in support for the EU and a tax-financed welfare state. But they also suggest a rallying effect around scientific expertise and incumbent governments that – together with populist positions losing ground – hints at a growing demand for competence.
28 September 2020 When a society goes from broadly shared growth to a state of malaise or decline, the ensuing pain is not just economic but psychological. Now that tens of millions of people in developing countries are suffering precisely such a reversal of fortune, the political fallout is sure to be tumultuous. Project Syndicate
Making Sense of China’s New Plan
VoxEU
28 September 2020
The scarring effects of downturns on young workers
From Made in China 2025 to the Belt and Road Initiative, the world has often misinterpreted pragmatic or strategic Chinese policies and projects as devious or destructive schemes. The same thing is happening today, in response to China's new Five-Year Plan.
01 October 2020 Young people bore the brunt of the labour adjustment to the Great Recession and the COVID-19 shock appears to be having similar effects. Using Australian data over 19912017, this column shows that graduating in a recession imparts scarring effects on earnings for up to ten years. Recessions disrupt worker-firm match quality, but the resulting scarring effects fade over time as workers switch to more productive firms. Timely macroeconomic stimulus and labour mobility-enhancing structural reforms can ameliorate the scarring effects of recessions. In Depth News
Fiji’s Tourism Workers Turn to Farming and Fishing As COVID-19 Ravages the Industry 29 September 2020 The COVID-19 crisis has hit tourism-dependent Pacific Island countries severely. Fiji, the largest of these states, is feeling the impact badly, with laid-off workers of tourism-related industries, such as hotels and travel companies, turning to farming and fishing for survival. Because of its larger land mass and fishing grounds in the sea, Fiji’s population is trying to cushion the impact depending on their natural resources. Sainimili Dauvere, a 36-year-old single mother who lost her job in a resort told Fiji’ national broadcaster recently that these are “God gifted resources” and called on her friends not to lose hope.
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Disruption to Jobs and Skills The Fourth Industrial Revolution is shifting job roles and generating demand for new skills In the United Kingdom, artificial intelligence is poised to eliminate 7 million jobs by 2037, according to a report published in 2018 by PricewaterhouseCoopers - though it is also expected to create about 7.2 million new jobs in the country by that time, in healthcare, science and education. Business model disruptions will have a profound impact on the employment landscape, leading to both significant job creation and elimination, potentially heightened productivity, and almost certainly wider skills gaps. Given the likely depth of technological disruption to jobs, there is a pressing need to come up with more effective ways to facilitate the acquisition of skills and address job loss. During previous industrial revolutions, it has often taken decades to build the training systems and labour market institutions needed to develop new skillsets on a large scale. Given the pace of the Fourth Industrial Revolution, however, such a relatively comfortable interval may not be an option this time. In order to rise to the challenge that this presents, businesses will have to recognize human capital investment as an asset rather than a liability, according to the World Economic Forum’s 2018 edition of its Future of Jobs report. Many regions struggle with unemployment and inactivity, creating sizable economic knock-on effects. Skills gaps and innovation lag make labour markets less agile, and due to increasing rates of job disruption this trend is set to become worse. Meanwhile related regulatory and managerial challenges will only be exacerbated by gaps in knowledge. Real solutions will require that proactive talent management strategies be deployed by companies, alongside deep and sustained dialogue and collaboration among businesses, governments, and education providers. Workers in fields that are facing significant job reductions must be re-skilled, and provided with viable job transitions. The Forum’s Global Human Capital Report 2017 noted that gaining formal qualifications alone will not equate to necessary re-skilling; lifelong learning opportunities such as short-cycle courses, experience on the job, and exposure to new projects will be important in this regard. Any effort aimed at closing the skills gap will need to be grounded in a solid understanding of a particular country’s or industry’s current skills base, and of changing skills requirements due to disruption. Anticipating and preparing for future skills requirements will be critical for anyone who wants to seize new opportunities and new markets. Related insight areas: Ageing, COVID-19, Digital Economy and New Value Creation, Artificial Intelligence, Migration, The Great Reset, Gender Parity, Social Innovation, Fourth Industrial Revolution, Corporate Governance
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Latest knowledge Social Europe
Institute for New Economic Thinking
Industry 4.0: the transformation of work? – Hartmut Hirsch-Kreinsen
The Future of Work: What’s at Stake 29 September 2020
01 October 2020 Digital technologies are ubiquitous and their impacts are growing by the day. Before COVID-19, the entire digital technology and the ecosystem it elevated were already forming the backbone of the economy. As the pandemic hit, transformation accelerated by necessity. Digital technologies were further catapulted to the forefront, rendering most of everything else dangerous, obsolete, or irrelevant. The future of work depends on the choices we make today.
It is widely believed that the new digital technologies are opening up completely new potential applications, with social and economic consequences no less than disruptive. In the public debate, this is linked on the one hand to fears of massive job losses, the discounting of qualifications and far-reaching control over workers. On the other hand, digitalisation is envisaged as facilitating innovative work design and decent working conditions, or ‘new work’.
Centre for European Policy Studies (CEPS)
Building Back Locally
Paving the way for future labour migration
30 September 2020
29 September 2020
RAND Corporation
In Puerto Rico's post-hurricane reconstruction, municipal governments face significant responsibility. The authors recommend ways to target government and other resources where they are needed most to help municipal reconstruction efforts.
Since September 2017, the European Commission has been encouraging the use of new approaches to broaden labour migration to the EU. In response to this call, several pilots for skill mobility partnerships are being tested by partner countries with, for example, different target groups (e.g. recent graduates or young professionals), types of contract (e.g. internship or work) or duration. The IOM skills mobility partnership between Belgium and Tunisia highlights the importance of multidimensional cooperation between different stakeholders from both countries (e.g. immigration office, public employment services, employers’ associations) throughout the implementation of the project (e.g. in assessing labour market needs, streamlining procedures, selecting candidates).
VoxEU
Fear and employment during the COVID pandemic 30 September 2020 The COVID-19 pandemic and ensuing Great Lockdown came with an unseen level of economic uncertainty. This column uses Google search data to document the substantial increase in people’s economic anxiety and the coinciding slowdown in European labour markets in the months following the outbreak. The analysis shows that the ensuing fear was significantly more outspoken in those EU countries hit hardest in economic terms, with levels of economic anxiety similar or higher than during the Great Recession of 2007-2009. Unlike during the Great Recession, however, unprecedented policy actions, such as the short-term working schemes implemented or reformed at the onset of the COVID crisis, do not seem to have mitigated overall economic anxiety.
Project Syndicate
How to Recover Green 28 September 2020 Now that governments have intervened in the market on an unprecedented scale, citizens have every right to demand that newly dependent sectors align themselves with long-term climate-policy goals. Policymakers already have the tools to make this happen, and doing so would accelerate economic recovery.
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Balance of Care and Careers Innovative care-related policies are bringing more women into the workforce In many societies, even as women have entered the labour force, they have also retained primary responsibility for unpaid work such as family care-giving and household chores. In this way, gender gaps in terms of paid work are partly a reflection of gender gaps in unpaid work. In advanced economies, men do just 34% of the unpaid work that women do, according to the Organisation for Economic Co-operation and Development. United Nations Educational, Scientific and Cultural Organization data show that this imbalance starts early, with girls spending 30% more of their time on unpaid work than boys. On average, women work 50 minutes more per day than men, in terms of both paid and unpaid work combined, according to the data. There is growing interest in better facilitating women’s integration into the workforce. According to a report published by the OECD in 2017, a number of countries have sought to increase fathers’ care-giving workload, such as the Czech Republic and Turkey, which in recent years have introduced statutory, paid paternity leave, while ten OECD member countries have begun offering financial incentives in order to encourage fathers to take parental leave for at least two months; South Korea offers as much as 100% wage replacement for three “daddy months,” according to the report. Other care-related policies have included financial arrangements to facilitate care for elderly relatives, family benefits and other subsidies, career breaks, remote work programs, and flexible and reduced hours - in addition to services like home care for the elderly, and nursery care for small children. Such practices often represent long-term public and private investments, though they have the potential to generate strong social and economic returns. They can also produce sizeable spill-over effects. According to the International Trade Union Confederation’s 2016 report Investing in the Care Economy, if 2% of a country’s GDP were to be invested in its care industry, there would be corresponding increases in overall employment that range from 2.4% to 6.1%, depending on the location. This would equate to nearly 13 million new jobs in the US, 3.5 million new jobs in Japan, nearly 2 million in Germany, 1.5 million in the United Kingdom, and 1 million in Italy. Related insight areas: Values, Ageing, Global Health, Behavioural Sciences, Public Finance and Social Protection, Civic Participation, Role of Religion
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Latest knowledge London School of Economics and Political Science
South African Institute of International Affairs (SAIIA)
Book Review: Data Feminism by Catherine D’Ignazio and Lauren F. Klein
Skills transfer and women in Africa’s green transition
04 October 2020
27 September 2020
This review originally appeared on LSE Review of Books. If you would like to contribute to the series, please contact the managing editor of LSE Review of Books, Dr Rosemary Deller, at lsereviewofbooks@lse.ac.uk In Data Feminism, Catherine D’Ignazio and Lauren F. Klein use an intersectional feminist lens to examine unequal power structures in the realm of data, and … Continued.
Women remain under-represented in energy value chains, and this is true also for the Africa region. Big Think
3 cognitive biases perpetuating racism at work — and how to overcome them 26 September 2020
LSE Business Review
Books about race and anti-racism have dominated bestseller lists in the past few months, bringing to prominence authors including Ibram Kendi, Ijeoma Oluo, Reni Eddo-Lodge, and Robin DiAngelo. Sales of these books increased by up to 6,800% in the aftermath of global protests against racial injustice, according to Forbes, showing the role such work plays in raising awareness and leading to a cultural reckoning.
How firms can encourage courageous conversations about racism in the workplace 01 October 2020 When black women were asked where they are most likely to experience racism the top answer was work. No company or country can say that they do not have a problem with racism. Organisations must tackle discrimination in the workplace, rooting out systemic racism, and accelerate gender and racial equity. The global outpouring since the terrible murder of George Floyd […].
London School of Economics and Political Science
Shifting norms on gender and leadership: are ambitious women punished in politics? 25 September 2020
Wharton School of the University of Pennsylvania - Knowledge@Wharton
Sparsha Saha and Ana Weeks show that while ambitious women are not penalised by voters overall, the aggregate results hide differences in taste for ambitious women across parties.
How the Pandemic Is Affecting Working Mothers 29 September 2020 A high number of working mothers are leaving their jobs during the pandemic, which is exacerbating gender inequality. Solving the problem starts with better policies to support them, Wharton’s Janice Bellace says. Brookings
Saudi Arabia’s current state of affairs 28 September 2020 The United States is in a fundamentally different and new relationship with Saudi Arabia today than anything it has seen in the last 75 years. Saudi Arabia as embarked on a series of foreign policies which are reckless and inimical to America's vital interests in the Middle East and the world.
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Inclusive Growth A failure to improve living standards and reduce inequality has worsened social divides Even as global labour productivity grew by 74% between 1973 and 2013, worker compensation grew by just 12.5% over the same period, according to the Economic Policy Institute. While a relatively recent slowdown in global productivity has contributed to the reduction of the real value of salaries, other forces are also at work - such as rapid technological change, evolving market structures, and globalization, all of which began impacting distribution patterns even before the productivity slowdown. As a result, levels of social inclusion have either deteriorated or remained unchanged in 20 of 29 advanced economies around the world over the past five years, according to the World Economic Forum’s Inclusive Development Index 2018. According to the index, which measured 103 countries’ economic performance using several dimensions in addition to GDP, the advanced economies surveyed failed to collectively increase inclusion (measured by median household income, poverty, and wealth and income inequality) during the past five years, even as they increased their average “growth and development” score by more than 3%.
Related insight areas: Corporate Governance, Systemic Racism, Sustainable Development, The Great Reset, Global Risks, Public Finance and Social Protection, Social Innovation, Corruption, Agile Governance, Gender Parity, Values, Migration, Real Estate
Statistics like these have led to the emergence of a global consensus on the need for a more inclusive, sustainable model of growth and development. Enhancing inclusiveness is a long-term process, which requires long-lasting commitments among stakeholders including governments, businesses, and civil society organizations in order to mobilize resources and effort. Policy-makers need to place people and their standard of living at the centre of their strategies. Investment in education and income redistribution mechanisms, for example, can help to bridge the opportunity gap between rich and poor - though they will not be solely sufficient to achieve a more sustainable model. This will require a deeper rethinking of business models and public policy. World Bank research suggests that the economies that manage to achieve relatively good standards of inclusive growth also tend to adopt land reforms, actively support small- and medium-sized businesses, invest generously in education, and insulate policy-making from corruption. However, despite the consensus on a need for more inclusive growth, little in the way of concrete policy guidance has emerged. Greater multi-stakeholder efforts are therefore needed in order to create effective economic institutions, and to develop incentives that support growth and productivity.
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Latest knowledge LSE Business Review
Project Syndicate
Higher interest rates reduce the top one per cent’s share of the national income
The COVID-Climate Nexus 30 September 2020 America’s upcoming election will take place against the backdrop of a dreadful pandemic and mounting climate threats. On both counts, US voters must choose whether to bring back respect for science and sensible public policy, and an awareness that we live in an interconnected world.
02 October 2020 Following the global financial crisis of 2008, central banks in the advanced economies have resorted to accommodative monetary policy measures in order to prop up their respective economies. Such measures mainly consisted of significant reduction in policy interest rates along with large quantitative easing programmes. While the macroeconomic effects of such measures on growth and employment have been positive, several […].
The New Humanitarian
There’s a better way forward than sending Afghans home to conflict 30 September 2020
European Council on Foreign Relations Opinion: Focusing on returns is shortsighted. Instead, let’s help the countries that host the vast majority of Afghan refugees and migrants.
Europe’s double bind 01 October 2020 The covid-19 pandemic has exposed a gap between European aspirations and actions. If European leaders are serious about defending rules-based multilateralism and securing the European Union’s interests in the twenty-first century, they will need to start coming to terms with today’s geopolitical realities.
Project Syndicate
Rescuing US Intelligence 30 September 2020 By consistently demonizing America's intelligence agencies and undercutting their missions, US President Donald Trump has sacrificed US national security for the sake of his own political interests. Given today's global threats, a President-elect Joe Biden would need to make this the first mess he cleans up.
London School of Economics and Political Science
Five years on: are Nigerians better or worse under President Buhari? 01 October 2020
United Nations Environment
No time to waste: using data to drive down food waste
Although the government through a Presidential taskforce appears to have fought to minimise the fatality and spread of the pandemic in Nigeria, citizens are still doubtful of official information. In particular, the statistics shared by the Nigeria Centre for Disease Control (NCDC) in the Ministry of Health remain suspect as people believe that it does not represent the reality on ground. Rather, they feel that it is a ploy that provides another opportunity to siphon public resources into the private pockets of the parasitic elite. This general public doubt about the realities of the pandemic reflects a clear deficit of trust between the government and the governed. It underscores many years of lies and failed promises from politicians to the people.
30 September 2020 Approximately one-third of all food produced for human consumption gets lost or wasted – around 1.3 billion tonnes every year. This amounts to roughly US$680 billion in developed countries and US$310 billion in developing countries, with a carbon footprint of about 3.3 billion tonnes of CO2, which is equivalent to 8 per cent of global greenhouse emissions. Cutting food waste is one of the most effective ways to reduce….
15 SDG 08: Decent Work and Economic Growth Briefing, October 2020
Productivity and Competitiveness Productivity is difficult to measure, but essential for increasing prosperity In June 2020, the International Monetary Fund reported that a hit to productivity as surviving businesses ramp up COVID19-related workplace safety practices was likely to contribute to a 4.9% global economic decline for the year. Even prior to the pandemic, increased trade barriers and geopolitical tensions had threatened to take a toll on productivity growth by disrupting supply chains - creating financial vulnerabilities that could be amplified during the next downturn. Productivity levels are a key reason why different countries enjoy different degrees of prosperity; the world’s most competitive economies, such as the US and Germany, are several times more productive than large developing countries like Nigeria, according to data published by the Conference Board. This at least partly explains why US GDP per capita is over $60,000, and Nigeria’s is about $6,000. When productivity levels reach a certain depth, there is simply not enough income to properly distribute. As former US president Barack Obama put it: without a faster-growing economy, it is impossible to generate the wage gains people want - regardless of how wealth is divided.
Related insight areas: Workforce and Employment, Global Risks, International Trade and Investment, Digital Economy and New Value Creation, Artificial Intelligence, Fourth Industrial Revolution, Geo-economics, Entrepreneurship, Emerging Multinationals, Financial and Monetary Systems, Education and Skills, COVID-19, Agile Governance
Global productivity has actually been decelerating since the early 2000’s. Between 1985 and 2000, productivity as measured by GDP per hour worked rose within Organisation for Economic Co-operation and Development countries by nearly 41%; it then rose by just 19% between 2001 and 2016, according to OECD data. Following the global financial crisis, many countries actually experienced productivity declines, which in turn affected wages. According to the IMF, in economies where unemployment rates were below their historic averages before the so-called Great Recession that followed the financial crisis, slow productivity growth after the Great Recession accounted for nearly two-thirds of a slowdown in nominal wage growth that occurred at the same time. In order to help reset the post-pandemic global economy in a healthy, inclusive manner, governments need to consider new ways to monitor the evolution of their productivity - which is complex, and tends to be difficult to directly measure. The advent of the Fourth Industrial Revolution and associated technology developments have altered traditional aspects of productivity and their relative importance to economic development, only making accurate measurement even more difficult.
16 SDG 08: Decent Work and Economic Growth Briefing, October 2020
Latest knowledge Project Syndicate
South African Institute of International Affairs (SAIIA)
The Perils of Big COVID Government in Asia
Building Africa’s renewable energy future: Recommendations for a just transition
01 October 2020 During a large and complex crisis like the COVID-19 pandemic, government’s role naturally grows – and so do the risks of unproductive spending and abuses of power. That is why, as Asian economies seek to contain COVID19 and its economic impacts, they must also contain their own governments.
30 September 2020 To shed light on the course of African energy transition processes, this policy brief provides evidence from a comparative analysis of 34 African countries. We present a clear picture of promising policy frameworks and fruitful attempts to realise a higher level of energy justice. South Africa, Rwanda, Kenya, Mauritius, Ethiopia and Egypt may serve as good practice examples for other states currently aiming at a systemic energy transition. Our recommendations for AU-EU cooperation on renewables and a green economy bring in suggestions for further fostering this green paradigm shift through means of consultancy, capacity building and strategies for technology transfer.
World Economic Forum
This pandemic has revealed our most precious asset 01 October 2020 Coronavirus has highlighted the need for preventative healthcare, an investment in healthy ageing and the critical role of technology in rebuilding health. World Resources Institute
International Crisis Group
4 Questions About China's New Climate Commitments
Watch List 2020 – Autumn Update 30 September 2020
30 September 2020 Every year Crisis Group publishes two additional Watch List updates that complement its annual Watch List for the EU, most recently published in January and May 2020. These publications identify major crises and conflict situations where the European Union and its member states can generate stronger prospects for peace. The Autumn Update of the Watch List 2020 includes entries on Afghanistan, Colombia, Kosovo-Serbia, Lebanon and Somalia.
President Xi Jinping's announcement at the UN that China intends to peak carbon dioxide emissions before 2030 and reach carbon neutrality before 2060 is one of the most significant signs of progress on tackling climate change since the 2015 Paris Agreement. Here are answers to four key questions about it. Project Syndicate
Europe’s Double Bind
United Nations Environment
30 September 2020
Food loss and waste must be reduced for greater food security and environmental sustainability
The COVID-19 pandemic has exposed a gap between European aspirations and actions. If European leaders are serious about defending rules-based multilateralism and securing the European Union's interests in the twenty-first century, they will need to start coming to terms with today's geopolitical realities.
29 September 2020 Rome/Nairobi/New York , 29 September 2020 – At the global event marking today the first International Day of Awareness of Food Loss and Waste, the UN Food and Agriculture Organization (FAO), the UN Environment Programme (UNEP) and their partners urged everyone to do more to reduce food loss and waste or risk an even greater drop in food security and natural resources. Some 690 million people today are hungry and three….
17 SDG 08: Decent Work and Economic Growth Briefing, October 2020
The Silver Economy Engaged, productive older workers and consumers are proven drivers of economic growth As the global population grows older and lives longer, it Related insight areas: Entrepreneurship, Retail, Consumer presents inevitable challenges. However, there is an opportunity for the older population to serve as an economic Goods and Lifestyle, Private Investors, Innovation, Workforce and Employment, Youth Perspectives, Institutional Investors asset, by fostering the so-called silver economy. According to the Organisation for Economic Co-operation and Development’s definition, the silver economy is an environment in which people over 60 thrive at work, start innovative companies, are active consumers, and lead active and productive lives. Extending working lives and promoting senior entrepreneurship are increasingly perceived as economic drivers, and both can enable older people to better leverage their institutional knowledge, wisdom, and insights about their peers. In sectors including healthcare, financial services, retail, travel, and entertainment, jobs done by older people that cater to other older people can help capture massive, untapped spending power. An expert consultation organized by the OECD and the Global Coalition on Aging (GCOA) in 2014 concluded that the achievement of a silver economy is not inevitable, however. The private sector will need to create age-neutral workplaces, and lifelong learning opportunities, according to the World Economic Forum’s former Global Agenda Council on Ageing’s Guiding Principles for Age-Friendly Businesses. According to the GCOA report Revitalizing Sustainable Growth in Emerging Markets: Insights on Leveraging an Ageing Population, age-friendly businesses recognize that an older workforce is not necessarily less productive, or less valuable. The right policies and programs can enable older employees to drive growth; the auto maker BMW and pharmacy chain CVS, for example, have adapted their work environments in order to better deploy their ageing workforces, and improve efficiency and customer relations. Public policies can also contribute, by incentivizing senior workers. Singapore, for example, enacted the Retirement and Re-Employment Act in 2012, which requires employers to offer re-employment to eligible employees for the first few years after they reach the national retirement age of 62. The GCOA report suggests that governments should use tax incentives, pension flexibility, strong intellectual property rights, and microfinancing vehicles in order to encourage senior social engagement, which can in turn reduce costs associated with unhealthy ageing. While public policies will be pivotal for addressing demographic changes, their success is contingent upon combating prejudices about ageing and life expectancy; as perceptions are changed, alongside policies regarding older employees and consumers, the silver economy opportunity can drive productivity and job creation.
18 SDG 08: Decent Work and Economic Growth Briefing, October 2020
Latest knowledge World Economic Forum
United Nations Environment
Why improving women's lives is the key to healthy ageing
Shaping the Trends of Our Time 17 September 2020
01 October 2020 Published today, a new report, Shaping the Trend of Our Time, by the UN Economist Network, analyses five global megatrends - climate change; demographic shifts, especially population ageing; urbanization; digital technologies; and inequalities –that are affecting economic, social and environmental outcomes. In this interview, Pushpam Kumar, Chief Environmental Economist for the United Nations Environment Programme (….
Older women are more exposed to social isolation and economic exclusion – but this can be changed earlier in their lives. World Economic Forum
Prioritizing Workplace Mental Health 22 September 2020 World Economic Forum
RAND Corporation
To harness the AI age, governments must keep these 7 factors in mind
A Framework for Evaluating Approaches to Symptom Screening in the Workplace During the COVID-19 Pandemic
21 September 2020 AI can't advance until governments take issues like data literacy, responsible procurement and careful investment seriously. Here are the factors governments should prioritize to ensure AI can keep countries competitive while benefiting the world order.
17 September 2020 The authors assess approaches to workplace screening for COVID-19 symptoms, rating them on five criteria: likelihood of detecting infection, helping employees feel safer, safety of the screening interaction, feasibility, and privacy.
SpringerOpen
Population aging and the historical development of intergenerational transfer systems 21 September 2020 From our evolutionary past, humans inherited a long period of child dependency, extensive intergenerational transfers to children, cooperative breeding, and social sharing of food. Older people continued to tr... SpringerOpen
Trends in fertility and fertility preferences in sub-Saharan Africa: the roles of education and family planning programs 21 September 2020 A common explanation for the high fertility prevailing in sub-Saharan Africa (SSA) is a widespread desire for large families. This situation poses a challenge to population policy-makers in the continent. If t...
19 SDG 08: Decent Work and Economic Growth Briefing, October 2020
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4. Disruption to Jobs and Skills
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Acknowledgements Cover and selected images throughout supplied by Reuters. Some URLs have been shortened for readability. Please follow the URL given to visit the source of the article. A full URL can be provided on request.
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21 SDG 08: Decent Work and Economic Growth Briefing, October 2020
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