DKE Part 2: Labour Market Effects

Globalisation & Labour Markets
1. connectedness determines GDP growth
2. ICTs reduce cost of production and distribution
  1. purely digital goods & services
  2. digital platforms facilitating cross-border exchange
3. Global Knowledge Economy (GKE) offers:
  1. more entry points
  2. more diverse range of players
  3. opportunity for more people to be a part of production process
Prior to 1990s: globalisation of skilled jobs - manufacturing outsourced
Recently: Outsourcing knowledge services e.g. programmers, education, call centre staff etc.
1. BENEFITS: reduced poverty, increased wealth and opportunity
2. DRAWBACKS: Threatens middle-class jobs in advanced countries.
  1. (Not a full loss - knowledge workers can now be employed worldwide)
Changing Labour Force
1. "knowledgification" of ordinary jobs
2. growth in demand for:
  1. high skilled knowledge workers
  2. low skilled service workers
3. More Flexible Work Arrangements
  1. work less time / location dependent
4. more collaborative team based work
5. Womens opportunity and participation increased
6. Self employment
  1. sharing economy: Uber, Airbnb, Elancer
7. 2 Workplaces Emerge:
  1. 1) Standard "Traditional" workplace
    1. full time career
    2. government / large company
    3. securiy
    4. results focussed
    5. lack of flexibility
  2. 2) The Non-Standard Workplace
    1. Part time, casual, contractor
    2. less security
    3. focus on innovation, building brand
    4. flexible
    5. lots of opportunities
    6. fast growth
    7. Forces of digital tech reshaped entrepreneurship & innovation
Entrepreneurs
1. creating business activity, commercialising ideas
2. foundation of economic growth
3. people , companies (e.g. Google, CSL, Cochlear), or Networks / Alliances
4. use knowledge in different ways
5. changing connective structure of the knowledge base of economy
6. engaging in experiments
7. want to make a difference
  1. Social Entres: Superannuation policy
8. Need to be able to
  1. See opportunities first
  2. Sieze them
  3. Capitalise using other peoples money

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DKE Part 2: Labour Market Effects

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