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It's interesting that this is an article about the UK rather than the US. I really enjoyed a recent Econtalk episode on "Learning by doing" that talked about la
by danblick 10y ago
It's interesting that this is an article about the UK rather than the US. I really enjoyed a recent Econtalk episode on "Learning by doing" that talked about labor markets:
http://www.econtalk.org/archives/2016/05/james_bessen_on.html http://www.econtalk.org/archives/2016/05/james_bessen_on.htm...
The example in the episode is about textile mills. For about 50 years after mills were mechanized, productivity in mills had gone up by a lot but employee wages didn't increase even though it was "skilled" labor. The reason (explained in the episode) is that because of a lack of standardization, employees couldn't transfer skills between firms, so they were unable to demand more for their skills on the labor market by shopping for a new employer.
There's no immediate connection to the article but I've been thinking about employees' ability to "shop" and I wonder if maybe these CS graduates would be employed if they had access to the US labor market.