Despite the many benefits to globalisation and modern technological advancement, today’s labour markets are fissured and dysfunctional. These challenges will only be exacerbated in the coming years, particularly for developing countries that rely on manufacturing in the face of increasing mechanisation and automation. In this VoxDev Video, Dani Rodrik discusses his recent work with Charles Sabel that aims to better account for these structural changes in modern labour markets and proposes a holistic strategy for creating a “good jobs economy”.
Their research identifies the social inequality and exclusion seen today as negative externalities on society caused by a lack of good jobs. To solve this problem, they propose an integrated strategy of redistribution, stimulation of aggregate demand, and improved anti-trust and labour force policies. Realising this good-jobs strategy will require, Rodrik argues, effective participation with the private sector built around a new form of governance that is flexible, iterative, and trust building.

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