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Two papers consider the effects and advantages of a nation's development of a modern information technology. The first paper, "Information, Information Technology, Modern Telecommunications and Economic Growth: A Case Study of New Zealand" (Herbert S. Dordick), examines the effects of information technology on the economies of such nations as New Zealand, whose position in the world economy will be threatened unless they are able to make significant investments in information technology that will lead to higher productivity, innovations in both products and process, and new market growth. Eight tables and nine references are provided. The second paper, "From Public Access to Private Connections: Network Policy and National Advantage" (Francois Bar and Michael Borrus) examines the changes being brought about in the United States, France, and Japan by business' increased access to private telecommunications networks. The text is supplemented with 44 footnotes. (Author/EW)

This document contains two essays: "Toward a High-Wage, High-Productivity Service Sector" by Lester Thurow; and "Service Sector Wages, Productivity and Job Creation in the U.S. and Other Countries" by Louise Waldstein. The first essay analyzes the recent and currrent U.S. economy under headings called Growth Nodes, Falling Productivity, and Lower Wages. Under the heading Looking Forward, likely future economic conditions are outlined. Endnotes and a 15-item bibliography complete this section. After an introduction, the second essay examines the nature of U.S. service sector growth by analyzing its most important components and by comparing U.S. performance to that of several sectors in other comparable industrialized countries (France, Germany, and Japan). Drawing on those analyses, the various examinations of service sector growth are assessed. References, the sources for the 27 tables used, and a 70-item bibliography conclude the document. (CML)

Results from the testing of a representative sample of U.S. high school students (N=8,205) reveals a significant lack of economic literacy, with the students correctly answering only 40 percent of the items on the Test of Economic Literacy. This is especially disturbing since the questions were drawn from economic concepts and related issues as they are discussed daily in the national media. To improve the level of economic understanding, school districts need to make a commitment to economic education in both elementary and secondary education, with students being required to take a course in economics before they graduate from high school. Teachers must be better equipped to teach about economics if they are to instill any knowledge in their students. Economics knowledge is critical for an informed citizenry, both for its understanding of domestic economic issues and for the United States to maintain a competitive position in the world economy. (PPB)

This paper reports on an Organisation for Economic Cooperation and Development (OECD) project that studied (1) how young people can be enabled to develop employment initiative and entrepreneurial skills as an important ingredient of their education and training and (2) what changes are needed in educational curricula and school practices designed to strengthen young people's capacity to assume responsibility and initiative when faced with changing labor markets and skill requirements. The report begins with a summary of the project, its main conclusions, and policy implications. The remainder of the report is in two parts. The first presents the different rationales for the recent interest in entrepreneurial skills and culture and the complex problems related to a definition of such concepts. Its main purpose is to clarify the issues and developments at stake and to point toward some principal policy implications if entrepreneurial skills and culture are to have an impact on mainstream education. The second part presents concrete examples from 13 OECD member countries in which different kinds of entrepreneurial skills programs have been launched. (KC)

The article discusses the economic implications of the earthquake and tsunami that devastated Japan on March 11, 2011 for the U.S. Aside from damages to infrastructure, thousands of persons have reportedly been killed or gone missing after the calamity. The devastation brought concerns such as where to find the source of funds to be used for rebuilding and how the country can regain its economic activity. The business operations of companies Sony Corp., Hitachi Vehicle Energy Ltd. and Nippon Chemi-Con Corp. have been disrupted by the said disaster.