The Coming Jobs War begins with the United States having won the 1970-2000 jobs war by leading in new internet technologies, superior business models, and export know-how. Winning future jobs wars can preserve the current 25% U.S. share of the global economy. Author James Clifton believes that this growth can be sustained by tapping the resources of large cities, huge universities, and the community connections possessed by local leaders.
Most solutions begin locally. Clifton believes that whatever improves the jobs picture at the neighborhood level should be facilitated through the prism of local leadership. If rezoning improves jobs and economic opportunity, then part of the solution is to rezone. In the new economy, there is a definite need for entrepreneurs or salespeople. Leaders of countries who create new jobs require adequate support systems in law and education, and military plans for transitioning resources for peaceful use and municipal planning.
Student engagement is needed to prevent large drop-out rates. Key personal traits are excellence in mathematics coupled with leadership skills. Ultimately, student graduation is a very important predictor of a municipality’s future innovation and entrepreneurial potential. And so, the behavioral side of economics becomes an important aspect.
A change in behavior is needed to accomplish things like an improvement in drop-out rates and better academic outcomes. A potential answer may be found in making education more relevant, cost effective, and available. Incentives are another important ingredient needed to change inflexible attitudes.
Increments in the GDP are good for workers because new jobs are created in the economy and more people are hired. When more people are hired, consumer spending increases. Growth may be achieved by cutting taxes and raising business output. When take-home pay is reduced, spending is lowered, as well as GDP. China’s GDP is expected to reach $70 trillion by 2040 with the United States trailing at $30 trillion in the same time frame.
The Coming Jobs War demonstrates that health care costs are a large fiscal drain on multiple layers of government. Behavioral economics recognizes that more optimal eating choices, smoking cessation, and moderation in drinking are critical ingredients to reducing health care costs rationally and permanently.
The Coming Jobs War is a wonderful book which explains how the United States can keep growing well into the future provided that simple steps are taken now. In effect, jobs are the new global currency for leaders everywhere.