Ny rapport från ECEPR
Hur kan 11 800 fler personer stimuleras till att satsa på entreprenörskap medan ytterligare 150 miljarder kronor i riskkapitalinvesteringar satsas på nya tillväxtföretag? I en ny studie som släpps av ECEPR visar Gabriel Heller Sahlgren och Nima Sanandaji, på basis av en modell baserat på internationella jämförelser, att detta sannolikt kan bli utfallet av en reform av beskattningen av personaloptioner. Rapporten lanseras via en debattartikel i Göteborgs Posten. Rapporten kan laddas ned här.
Digitalisation and the rapid gains made in robotics are creating a massive shift in the labour market. Upwards of half the jobs that today exist can either be expected to disappear or significantly change during coming years. How can Europe pave the way for new jobs to grow? How can Europe embrace other major trends – such as increased global competition, urbanization and a greater role for women in the world economy?
Manufacturing is not a thing of the past. Rather, it is an integral part of the knowledge-intensive economy. The main share of exports, as well as investments in R&D, in Europe occurs in the manufacturing sector. It is therefore worrying that the manufacturing sector of many European countries have yet not recovered from the 2007/2008 downturn. Will Europe achieve a new industrial renaissance, or will industrial stagnation become a self-fulfilling prophecy?
The geography of successful enterprise is rapidly changing. The leading European firms, which in many cases have been formed more than a century ago, are facing increasing competition from a new generation of Asian businesses. Reforms to regulatory and tax systems, increased investments in innovation and infrastructure and a skilled workforce are needed if Europe is to achieve a new entrepreneurial boom.
In order to prosper in the 21:st century, Europe must build upon its strenghts in skills and innovation. More European universities should reach the same elite status as American counterparts such as Harvard, MIT and Stanford. The quality of European basic education needs to be improved and life-long education must become a more integral part of skill-supply. Lastly, investments in R&D should be encouraged both in universities and the private sector.
Future of jobs
During coming years upwards of half the jobs that exist today can be expected to either disappear or change significantly. The reason is that digitalisation and the rapid gains made in robotics are creating a massive shift in the labour market. Previously, automatization has mainly affected jobs in manufacturing, farming, mining and forestry. The rise of intelligent computer systems is today putting pressure also on skilled office-jobs.How can the labour market adapt to the disruptive changes brought on by new technology? Where are the jobs of the future to be found? How do societal shifts – such as increased global competition, urbanisation and increased specialisation – fit in with the shifts in technology? Answering these issues is a main challenge of the ECEPR.
A common misunderstanding is that manufacturing industries are a thing of the past. In reality, manufacturing continues to play a central role in the modern knowledge-intensive economy. Growth does not occur either in the service sector or in manufacturing, but rather through a synergy between the two sectors. The lion’s share of exports as well as investments in R&D in European economies occurs in the manufacturing sector.It is worrying that the manufacturing businesses in many European countries are struggling to grow in the face of increased global competition. Many European economies today have lower industrial output than they did before the global crises of 2007/2008. Although competition from countries such as China is significant, an industrial renaissance for Europe is within grasp – if only the right policy environment can be created.
The geography of successful enterprise is rapidly changing. During recent years the share of global top-1000 firms located in Europe has dropped significantly. At the same time, the shares in China, India and other up-coming economies has increased sharply. The large European firms, which in many cases have been formed more than a century ago, are competing with a new generation of Asian businesses.
If Europe is to continue to thrive the business climate must improve both for existing and new firms. Investments in innovation and infrastructure, a skilled workforce prepared for the changing demands on the labour market and competitive regulatory and tax systems are needed if Europe is to achieve a new entrepreneurial boom.
Skills and innovation
For long, government policy has aimed to foster investments in physical capital. In the modern economy, the main constraint of many businesses is no longer physical capital, but rather access to skilled workers and knowledge-based capital. Thus, in order to prosper in the 21:st century, Europe must be a global leader in skills and innovation.
Much can be done to improve school results across Europe. Likewise, with determined focus and investments, more European universities can reach the same elite status as American counterparts such as Harvard, MIT and Stanford. In addition, investments in innovation must be expanded. Although most European economies are investing more in R&D, the UK and Sweden are worryingly moving in the opposite direction. A committed approach to education, adult education and innovation is needed across Europe.