The Information Economy

The Implications of Unbalanced Growth

• Author(s): Lars Osberg, Edward N. Wolff, William J. Baumol, Institute for Research on Public Policy,
• Publisher: IRPP
• Pages: 114
• ISBN_10: 0886450853
  ISBN_13: 9780886450854
  
• Language: en
• Categories: Reference / General ,

Description:... This paper argues that growth in modern economies is inherently unbalanced because labour productivity grows at different rates in the different occupation sectors. It examines the relative shift within industries towards knowledge-based occupations. It also demonstrates that higher education does not imply higher individual earnings for those employed in the goods and personal services sector, but post-secondary education is strongly rewarded within the information economy. Finally, it discusses the educational policy, research and development and international trade issues raised by the pattern of unbalanced growth characteristic of the information economy.