Economics
- ISSN: 2155-7950
- Journal of Business and Economics
Globalization, Employment, and Ownership of Human Capital
Yong-Cheol Kim, Gabjin Oh
(1. Lubar School of Business, University of Wisconsin-Milwaukee, USA;
2. Division of Business Administration, College of Business, Chosun University, Republic of Korea)
Abstract: Discussion of employment together with network of connected issues provides sensible public policies in global economy. Globalization of financial and real activities, trade, and technology spillover affect countries, industries and workers asymmetrically. The production and acquisition of human capital takes a generation or more. As such the issues of employment need long term planning with discipline. My suggestions are: devise long-term plan to improve the employment of young workers, and create an environment where young workers build and take ownerships of their human capital, and seek employment by promoting self-motivations. Employment policies have to provide incentives that are consistent with other economic goals controlling for negative side effects.
JEL codes: J24, J31, J21, O33, D83