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The article comments on a paper published within the issue, "Capital Formation and the Recent Productivity Slowdown," by Peter Clark. The author also discusses results from his own research in "Accounting for United States Economic Growth, 1929-1969," and applies it to Clark's paper. It is suggested that an abrupt rise in energy prices may have affected growth rates during the mid-1970s. The author also looks at a similar analysis made by John Kendrick, who focuses on the U.S. postwar period of 1948-1966.

The existing studies usually find that technical change was very important in constraining the economic growth of the Soviet Union. While these studies have been successful in quantifying the extent of technical change, they have been less successful in quantifying its nature. This paper moves a step closer to probing the essence of Soviet efficiency by splitting the aggregate technical change into its subcomponents – namely, capital and labour efficiency. I find that the Soviet Union registered strong labour efficiency gains during most of the postwar period, converging towards the labour efficiency level of the global frontier – the US. Labour efficiency growth did decrease over time, but labour efficiency was not a primary cause of Soviet growth retardation. That retardation was instead caused by a decline in capital efficiency. At a disaggregated level, I find that the decrease in capital efficiency was driven by structures. I hypothesize that labour shortages and an inadequate investment policy resulted in a large stock of unfinished, and hence idle, structures, distorting Soviet economic growth. [ABSTRACT FROM AUTHOR]

The article comments on three papers within the issue: "Long-Term Effects of Government Deficits on the U.S. Output Potential," by George von Furstenburg, "Capital Formation and the Recent Productivity Slowdown," by Peter Clark, and "U.S. Productivity Growth Recession: History and Prospects for the Future," by Michael McCarthy. The author discusses each article and criticizes their shortcomings. He looks at von Furstenburg's use of the Phelps-Shell model of dynamic economic growth and notes the usefulness of neoclassical growth theory. The author feels that his discussion on the effects of government deficits on output growth or productivity represent a fruitful economic analysis innovation.

This paper revisits the UK productivity puzzle using new data on outputs and inputs and clarifying the role of output mismeasurement, input growth and industry effects. Our data indicate an implied labour productivity gap of 13 percentage points in 2011 relative to the productivity level on pre‐recession trends. We find that: (a) the labour productivity puzzle is a TFP puzzle, since it is not explained by the contributions of labour or capital services; (b) the reallocation of labour between industries deepens rather than explains the puzzle (i.e. there has been a reallocation of hours away from low‐productivity industries and toward high productivity industries); (c) capitalization of R&D does not explain the productivity puzzle; (d) assuming increased scrapping rates since the recession, a 25% (50%) increase in depreciation rates post‐2009 can potentially explain 15% (31%) of the productivity puzzle; (e) industry data show that 35% of the TFP puzzle can be explained by weak TFP growth in the oil & gas and finance sectors; and (f) cyclical effects via factor utilization could potentially explain 17% of the productivity puzzle. Continued weakness in finance would suggest a future lowering of TFP growth to around 0.8% p.a. from a baseline of 0.9% p.a. [ABSTRACT FROM AUTHOR]

Almost 20 years ago, an article in Economic Papers by Altman and Daly asked 'Do fluctuations in the macroeconomy influence Aboriginal employment status?' This paper revisits this question in view of recent evidence. Indigenous people are more likely than before to be employed in industries similar to that of other Australians, and hence are less insulated from the business cycle. The greater engagement in the Australian economy is not something to be feared as it means that Indigenous employment will eventually respond to sustained macroeconomic growth. Indeed, Indigenous employment in the private sector converged rather quickly to the Australian average over the ten years of buoyant economic conditions between 1996 and 2006. Economic slow-downs do circumscribe the ability to improve Indigenous employment outcomes, but this simply means that educational and training investments become even more important in ensuring that Indigenous people are in a competitive position once economic growth picks up again. [ABSTRACT FROM AUTHOR]

The Gross Product of the Northern Territory accounts for approximately 1.2% of Australian GDP. The economic growth record of NT in the past few years has been well below all Australian states and territories but the per capita income of NT remains higher than the national per capita income. Due to continued interstate migration, higher birth rate among the indigenous population and the inability of NT to attract international migrants, the Territory's population mix is slowly changing. This paper shows that the NT's economic growth rate is closely linked to the growth rate of labour force and private investment. Although the overall labour force participation-rate is almost unchanged, the male and female participation rates are moving in the opposite direction. Finally, the paper presents short-term forecasts for NT's Gross State Product per person employed, private investment and employment. The forecasting exercise shows that the cyclical pattern is likely to continue in the near future. [ABSTRACT FROM AUTHOR]

Empirical evidence suggests that poorer countries have larger amounts of predation. We formulate a neoclassical growth model in which agents devote time to either produce or predate. When the elasticity of substitution between labour and capital is lower than one, the labour share rises with capital, reducing the incentive to predate and increasing the incentive to produce throughout the transition. Consequently, a feedback process between capital accumulation and predation arises, which amplifies income differences generated by differences in productivity. This paper helps to explain why differences between countries have remained stable and the key role that institutions play in development. [ABSTRACT FROM AUTHOR]

This paper studies firms' job creation decisions in a labour market with search frictions. A simple labour market search model is developed in which a firm can search for a second employee while producing with a first worker, and this creates the equilibrium size distribution of firms. A firm expands employment even if the instantaneous payoff to a large firm is less than that of staying small – a firm has a precautionary motive to expand its size. In addition, this motive is enhanced by a greater market tightness. Because of this effect, firms’ decisions become interdependent – a firm creates a vacancy if it expects other firms to do the same, creating strategic complementarity among firms and thereby self-fulfilling multiple equilibria. An increase in productivity can cause a qualitative change in labour market tightness and the rate of unemployment. [ABSTRACT FROM AUTHOR]

Prior to his Nobel Prize-winning work in economic development and human capital, T.W. Schultz focused his attention most centrally on the economics of U.S. agriculture. His research on this subject, published mostly between 1932 and 1951, laid the foundation for his later work. However, the lasting value of Schultz's earlier work may appear to have been called into question even by the author himself. In the three books of collected writings he published toward the end of his life (Schultz, 1990, 1993a, 1993b), very few early writings are reprinted or even cited. Nonetheless, among agricultural economists, Schultz's earlier work has been as influential as his later work became among economists generally. In the American Economic Association's (1969) compilation, Schultz was referenced in the index more than any other economist, and all twenty-two references to his works refer to studies of U.S. agriculture (and only two of them to his work on human capital). In this paper, I review Schultz's contributions under two headings: the economics of farming and agricultural policy. [ABSTRACT FROM AUTHOR]

Human capital, or a better educated labour force, is a major determinant of economic growth and productivity. However, recent trends in the cost of education in Australia may cause growth and productivity to suffer. For example, during the period 1982-2003 inflation rose on average by 4.4 per cent per annum, whereas the cost of education grew overall on average by 7.8 per cent. This has made education a relatively expensive item among Australian households. However, one can argue that the increased cost of education to private households may reflect choices to purchase a higher quality for their children in private schools and as such government should not be concerned about it. This paper compares and contrasts the cost of education in Australia and comparable economies with the cost of other goods and services embedded in the CPI (Consumer Price Index) basket, using the latest available quarterly data. Finally, the major determinants of the rising cost of education in Australia are examined. It is found, inter alia, that over the period 1986-2003 the increasing number of students enrolled at non-government primary and secondary schools and the introduction of the Higher Education Contribution Scheme (HECS) were two important determinants of the rising cost of education. [ABSTRACT FROM AUTHOR]

This paper examines the manner in which labour services are modelled in the aggregate production function, concentrating on the specification of the relationship between the number of persons employed and average hours worked. We argue that, given the presence of quasi-fixed costs of employment, hours of work and the number of employees cannot be perfect substitutes. We then show that estimates using total hours worked as the measure of labour input implicitly assumes that they are perfect substitutes and this false assumption results, inter alia, in biased estimates of the rate of labour and multifactor productivity growth in Australia. [ABSTRACT FROM AUTHOR]

In this paper, we present the main viewpoints of some historical schools related with the theories on factors of production. Also, we analyse the problems associated with the present theories related to the factors of production and then, introduce some new developments. These new developments which are associated with the theory connected to the six forces of factor of production are described. Copyright © 2009 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

This paper investigates the determinants of long-run unemployment and growth by extending the endogenous growth model of Howitt and Aghion (1998) to allow for a more general treatment of the labor market in the spirit of Pissarides (1990). We find that (i) both long-run growth and unemployment depend not only on factors that affect long-run growth as identified in endogenous growth models with full employment, but also on certain labor market parameters; (ii) long-run unemployment may rise or fall with growth depending on the model's parameters; and (iii) though government policies that promote growth indirectly through improvement in labor market efficiency always reduce the long-run unemployment rate, policies that directly encourage investment in research and development may increase the unemployment rate. [ABSTRACT FROM AUTHOR]

This paper examines the extent to which financial development contributes to output expansion in Malaysia, during the period 1960-2003. An augmented neoclassical growth framework is adopted to provide an evaluation of the impact of financial sector development on economic development. Using the recently developed ARDL bounds procedure, the results show that aggregate output and its determinants are cointegrated in the long run. The results suggest that financial development, private capital stocks and the labour force exert a positive impact on economic development whereas the accumulation of public capital appears to curtail output expansion in the long run. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of human capital on the process of economic growth by allowing the contribution of traditional inputs (capital and labour) as well as that of human capital to vary both across countries and time. The former is accomplished by constructing an index of TFP growth for traditional inputs, while the latter through semiparametric methods. We derive estimates of the output elasticity and social return to human capital for 51 countries at various stages of economic development. Copyright © 2005 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

We use a 12-dimensional VAR to examine the aggregate effects of two structural technology shocks and two policy shocks. For each shock, we examine the dynamic effects on the labor market, the importance of the shock for labor market volatility, and the comovement between labor market variables and other key aggregate variables in response to the shock. We document that labor market indicators display “hump-shaped” responses to the identified shocks. Technology shocks and monetary policy shocks are important for labor market volatility but the ranking of their importance is sensitive to the VAR specification. The conditional correlations at business cycle frequencies are similar in response to the four shocks, apart from the correlations between hours worked, labor productivity and real wages. To account for the unconditional correlations between these variables, a mixture of shocks is required. [ABSTRACT FROM AUTHOR]

Objective. To assess the impact of out-migration of nurses on the health systems in sub-Saharan Africa (SSA). Setting. The countries of SSA. Design and Methods. Review of secondary sources: existing publications and country documents on the health workforce; documents prepared for the Joint Learning Initiative Global Human Resources for Health report, the World Health Organization (AFRO) synthesis on migration, and the International Council of Nurses series on the global nursing situation. Analysis of associated data. Principal Findings. The state of nursing practice in SSA appears to have been impacted negatively by migration. Available (though inadequate) quantitative data on stocks and flows, qualitative information on migration issues and trends, and on the main strategies being employed in both source and recipient countries indicate that the problem is likely to grow over the next 5–10 years. Conclusions. Multiple actions are needed at various policy levels in both source and receiving countries to moderate negative effects of nurse emigration in developing countries in Africa; however, critically, source countries must establish more effective policies and strategies. [ABSTRACT FROM AUTHOR]

Focuses on the economic growth process in the allocation of scarce resources between consumption and saving in Japan. Incorporation of labor supply decisions; Development of microeconomic foundations of utility maximization; Formation of linear expenditure system.

This paper investigates the role of monetary policy in economic growth. Using an infinitely lived overlapping-generations model with a simple convex technology that can yield endogenous growth, we show that money supply behaviour of the government may have significant effects on the long-run economic growth. In addition to the effect on the long-term growth rate of the economy, the policy may determine whether the economy stays in the exogenous growth process restricted by the growth rate of labour supply, or realizes the endogenous growth that sustains continuous growth of per capita income and consumption. [ABSTRACT FROM AUTHOR]

Kaldor (1966) asserted that the slow rate of economic growth of the United Kingdom was due mainly to the shortage of labor resulting from "economic maturity". Kaldor (1975), in a subsequent comment on Rowthorn's (1975a) article, abandoned this reasoning and presented the strict Verdoorn law as
(1) p=+q with >0
and his own presentation of Verdoorn's law as
(2) e=+q with 0<<1 and e=q-p
where p is the rate of growth of productivity, q is the rate of growth of output, e is the rate of growth of employment, and ,, and are parameters.
The main purpose of this paper is to argue that both sets of results are subject to simultaneous equations bias and that mis-specification of estimated equations leads to incorrect estimates and wrong conclusions. [ABSTRACT FROM AUTHOR]

The article discusses the main challenges faced by the Middle Eastern countries as a result of developments in the international and regional economies. It inferred that the manner where Middle Eastern economies react to the challenges will be a critical cause of their process of economic growth and development including their ability to raise living standards and provide employment to a growing number of entrants in the labor force. However, a more generalized process of economic reform in the Middle East are promising as region-wide benefits can implement the gains of individual countries.

Drawing on a large database from the register of inhabitants of Madrid, this article confirms that the literacy levels of internal migrants moving to the Spanish capital city in the late nineteenth and early twentieth century were higher than that of those who remained in their provinces of origin. This article also explores the different factors influencing the nature and intensity of the selection process. The empirical exercise stresses that the stock of previous migration was a fundamental factor in allowing less literate individuals to join the migration process as well. Interestingly, distance to Madrid hardly affected the profile of male migrants, but it was a strong influence on female migration, although its importance diminished over time. Lastly, the results presented here show that other internal destinations were attracting different types of migrants, often resulting in negative self-selection. [ABSTRACT FROM AUTHOR]

Regional policy-makers have long sought to attract highly-educated workers with a view to stimulating economic growth and vibrancy. Previous studies over the decades leading up to the new millennium show human capital divergence across cities, where the share of college graduates grew faster in cities that had larger initial shares of college-educated workers. However, labour markets have changed significantly post-2000, likely affecting migration decisions of highly-skilled workers. Additionally, past studies have not controlled for important changes in industry education levels and overall industry composition that may influence city-level college graduate growth. We use detailed 4-digit NAICS industry employment data combined with public micro-data to construct measures of industry skill upgrading and changes in industry composition to control for their effects on human capital growth. We find agglomeration forces, rather than initial graduate share, explains college-graduate share growth post-2000. We also decompose graduates into bachelors and postgraduate degree holders to determine whether different forces are at play on growth of graduates at different education levels. [ABSTRACT FROM AUTHOR]

Rapid expansion of the labour supply and robust business investment means that potential output is likely to have grown strongly last year. Therefore, based upon the latest data for GDP, we estimate that the output gap only narrowed very slightly in 2014, ending the year at 4% of potential output., The prospects for potential output growth are favourable, with the labour supply set to be boosted by sustained strength in inward migration and the staged increase in the State Pension Age, and robust growth in business investment continuing to deepen the capital stock., This will provide the conditions for relatively strong growth and low inflation over the medium term, with GDP growth expected to average 2.6% a year from 2015-19. This is some way below the average of the decade prior to the financial crisis, but it would represent a clear step up on the average growth rate achieved between 2007-14., Our estimate of the output gap is much larger than that of the OBR. This suggests that the UK's structural deficit is smaller and that the degree to which fiscal policy needs to be tightened may not be as great as the OBR estimates. [ABSTRACT FROM AUTHOR]

ABSTRACT When labour market participation influences bargaining power in a household, the male and the female labour supplies can be either positively or negatively related. If negatively related, possibilities include: 'balance of power', the complete dominance of one member, and circumstances where inequity persists with incomplete dominance. If effort levels are positively sloped, it is possible to have equilibrium at either high or low effort levels leading to equity. The effects of economic development and wage discrimination are also discussed. [ABSTRACT FROM AUTHOR]

Creative industries are firms which are characterized largely by the labour inputs of creative individuals, and surrounded by a degree of rhetoric as to their significance, but are a comparatively under-researched sector. In this study we developed a research framework which integrated entrepreneurial cognition, entrepreneurial orientation and firm capabilities and explored the relationships between these variables, market conditions and the performance of small creative industry enterprises. The data suggest that high growth small firms are characterized by well-developed internal capabilities allied to an entrepreneurial orientation and that the combination of the various sub-attributes associated with each of these appear to be especially salient under conditions of intense competition. The policies, managerial and educational implications of the findings are discussed. [ABSTRACT FROM AUTHOR]

The Mankiw–Romer–Weil (1992) augmented Solow–Swan ( Solow 1956 ; Swan 1956 ) model is extended to incorporate the financial sector in this study. Distinguishing between financial capital, physical capital and human capital, the research attempts to identify, in particular, the effects of financial capital on economic growth. The effects of financial sector efficiency on economic growth are also examined. The financial sector augmented model is tested on a cross-section of 35 economies. Strong support is found for the model. [ABSTRACT FROM AUTHOR]

We introduce a negative effect of technological development on human capital accumulation in a growth model with endogenous innovation and accumulation of human capital. This implies a negative externality of R&D in human capital accumulation. Some calibration exercises suggest that this distortion may be sufficiently strong not only to offset the usual effects of spillovers and of returns to specialization but also to induce overinvestment in R&D. [ABSTRACT FROM AUTHOR]

We develop an endogenous growth model with elastic labor supply, in which agents differ in their initial endowments of physical capital. In this context, the growth rate and the distribution of income are jointly determined. We then examine the distributional impact of different ways of financing an investment subsidy. Policies aimed at increasing the growth rate result in a more unequal distribution of pre-tax income, consistent with the positive correlation between income inequality and growth observed in the recent empirical literature. However, there is no conflict between efficiency and equity if inequality is measured in terms of the distribution of welfare. [ABSTRACT FROM AUTHOR]

We examine the relative importance of the growth of physical and human capital and the growth of total factor productivity (TFP) using newly organized data on 145 countries that spans more than 100 years for 23 of these countries. For all countries, only 14% of average output growth per worker is associated with TFP growth. We use priors from theories to construct estimates of the relative importance of the variances of aggregate input growth and TFP growth across countries. Much of the importance of the variance of TFP growth across countries is associated with negative TFP growth. [ABSTRACT FROM AUTHOR]

Migration is a major factor in a local economy's growth potential since it affects the size and characteristics of the labor force. Previous studies of the impact of the migration turnaround on the labor force have not investigated potential variations in the socioeconomic contributions of migrants to nonmetro places. By differentiating among nonmetro places according to their size and distance from a metro area, potential variations in the labor force contributions of migrants to different nonmetro places are explored. Large nonmetro places (population 10,000 to 49,999) and those adjacent to metro areas trend to receive migrants who are family income than do small and nonadjacent nonmetro places. But only in small nonmetro places, both adjacent and nonadjacent, do migrants differ markedly form long-term residents in all of these characteristics. [ABSTRACT FROM AUTHOR]

This article focuses on the impact of economic conditions on the industrial relations in Great Britain. The year 1988 was a year of strong economic growth. Most macroeconomic forecasts at the end of 1987, including those of the Treasury. had been anticipating a significant slowdown of economic expansion in the year to come. Outside the labour market, inflation began to rise somewhat by the mid-year and the current account of the balance of payments went steadily deeper into deficit. Most of the labour market indicators in 1988 show a continuation of trends that started earlier and accelerated in 1987. The rate of decline in unemployment seems to have peaked in the second half of 1987 but was still high in 1988, unemployment is estimated to have fallen by almost 360,000, nearly 12 per cent of the total, in the first ten months of 1988. Firm official estimates for the number of self-employed go upto June 1987. Estimates for more recent periods are based on the assumption that the average rate of increase between 1981 and 1987 has continued.

The article discusses the impact of industrialization on state reform and local economy in London, England. The changes in the industrial and labor structures were linked to a revolution in Victorian taste and buying habits. Modern retailing and an era of mass consumption accompanied the decades of prosperity and declining prices. Labor and industry were subject to the indigenous problems of the city's growth. Moreover, technological changes had an impact on the structure of industry and the make-up of the labor force. In addition to new acquisition of machinery, the mode of production within the clothing trades was altered by the introduction of subdivision and sub-contracting of labor. Women workers complained that state regulation had caused a reduction in their employment in regulated industries.

Copyright of Population & Development Review is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Population & Development Review is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article focuses on two of the most enduring elements of the social fabric: gender segregation in education and employment. Gender differences in education and their concomitant effects on employment are endemic worldwide, with the widest gaps occurring in the poorest countries. In virtually all countries, girls drop out of school sooner and in greater numbers than boys and ultimately are more likely to be illiterate and employed in less productive segments of the labor force than their male peers. For large segments of the world's population, gender roles and gender segregation are synonymous. Differentiated gender roles contribute to poor economic development, by limiting female access to education.

Technological and economic development has spiraled in those areas in the United States that are at the crossroads of cultural exchange. On the other hand, cultural patterns of subsistence farmers in hill areas have changed very slowly. The cultural values in subsistence farming differ fundamentally from those in commercial agriculture. They stress getting along on small resources, staying out of debt, and being content with what you have, as contrasted with a special regard for managerial skill, high productive methods, and ambition to get ahead. The opportunity of subsistence farmers to shift into commercial farming is limited. The shift in values is most difficult; furthermore, as farm technology increases, a continuous flow of manpower out of agriculture is necessary. Local nonfann work opportunities are increasing, but the major shift is to employment in large urban centers. The habits and values of these people are a strong handicap in their adjustment to the responsibilities of urban life. [ABSTRACT FROM AUTHOR]

In recent years there have been a number of important studies concerned with the economic status of women. Most of these research efforts, partly because of data limitations, have concentrated on the period since 1940. However, because the Census Bureau has been compiling statistics on the distribution of the male and female labor force by occupation since 1870, an analysis of changes in the relative occupational status of women over the past one hundred years can be undertaken. Thus, on the basis of Alba Edwards' painstaking work and subsequent surveys, it is possible to construct a reasonably consistent series which indicates the distribution of men and women in the labor force by eleven broad occupational categories for the period 1870-1970. However, while such an historical series may be of some interest, it remains at best a simplified and somewhat imprecise measure of changing occupational status.

This article examines the changes in the industrial composition of the male working force in Panama during the period 1950-1960. The state has two separate and large unrelated economies: the semi-subsistence sector in agriculture which participates but little in money economy and the urban and nonagricultural money economy. During the 1950s, the rate of economic growth absorbed just about half of the new additions of men to the working force. The other half was absorbed by the semi-subsistence sector where their working efforts made little or no contribution to the growth and development of the economy. Of the rural youths who enter agriculture leave it for a job in the nonagricultural money economy. Perhaps one youth in five will manage to get away from the farm and find a money-paying job. Most important, such movements occur largely before the age of about 35. If a man has not left the farm by about this age, he is never likely to leave it. He remains a semi-subsistence farmer. Clearly, the state faces a dual problem: how to force the economy to grow at rates approximating 10 per cent per year and how to lower the rate of population growth so that there will be fewer new entries into the working force.

This article focuses on the need for constructive analysis, planning, and policy to promote regional economic growth in the southern states of the U.S. The prospects and possibilities for the South's economic development are, of course, closely linked with growth of and changes in the national economy. During the past two decades, the South has shared increasingly well in national economic growth, and similar promise holds for the future. Although there are thus grounds for optimism, the expected improvement could presumably be made greater and more certain. The present momentum of Southern economic development provides a strong driving force which may be harnessed by special and concerted efforts to secure continued advance. Too much emphasis can hardly be placed on the productivity of the South's labor force in terms of its aptitudes, mobility, and employability. For several decades, the South has had somewhat more than its share of low productivity industry. Low-productivity areas are necessarily low-wage, low-income areas as well. A revealing example is the cotton-growing region of the South in which farms are typically too small, under-equipped, and poorly managed to be profitable. Such factors as the one-crop system, sharecropping, race, and an inadequate system of rural credit work in combination to reduce the productivity and cash incomes of these far too numerous farmers.

This article focuses on the importance of part time employment in economic and social development. According to the author part-time workers perform their duties under various arrangements. In the most formal arrangement part-time employees are actually on an employer's payroll and work a few days a week or a few hours a day under his direct supervision. Other part-time employees do not work under the employer's direct supervision and are paid on a commission or piece-rate basis. In the legal sense a number of these persons would more properly be called part-time agents, particularly in those cases where the work consists of selling a product or service. The importance of part-time workers changes with the state of the economy. In time of war, for instance, the contribution of part-time workers can probably be considered essential to victory, the contribution is indispensable in the war plants to sustaining or increasing the output of munitions, as well as in the low priority industries which, as a result of compulsory transfers or direction of labor to essential occupations, must depend to a great extent on part-time labor to continue operations.

Editorial. Comments on the economic development of Great Britain and United States. Shortage on labor force; Monetary measures of welfare; Need on the minimization of interference in the markets by the governments.