Labor, no matter how inexpensive, will become a less important asset for growth and employment expansion, with labor-intensive, process-oriented manufacturing becoming a less effective way for early-stage developing countries to enter the global economy. (Michael Spence)

Labor, no matter how inexpensive, will become a less important asset for growth and employment expansion, with labor-intensive, process-oriented manufacturing becoming a less effective way for early-stage developing countries to enter the global economy.

Michael Spence

Related topics

asset becoming developing economy effective employment enter expansion growth labor less manufacturing matter way global

Related quotes

It's a question of not so much pushing the boys out of the picture, but making the whole frame bigger so that both men and women access the labor market, contribute to the economy, generate growth, have jobs, and so on.

Christine Lagarde

In the new conditions created by the global economy, the information revolution and the growth of smart technologies, it is more necessary than ever for all companies to be guided by their rich spiritual inheritance, as spiritual enterprises.

Ted Malloch

Manufacturing and other unskilled professions that were union jobs, that allowed people to live a middle-class life, are disappearing both because unions are disappearing and because of the global nature of the economy.

Andy Stern

Additionally, this tax forces family businesses to invest in Uncle Sam rather than the economy. When families are forced to repurchase businesses because of the death tax, that means less money is being invested in new jobs and capital expansion.

Todd Tiahrt

Corruption is a global problem. But it is more widespread in rapidly developing countries. It is a growth problem. There are many corruption-related problems in Russia too. So, regarding stress tests, I think that such tests should be applied to all companies.

Dmitry Medvedev