Election rage shows why America needs a new social contract to ensure the economy works for all — Thomas Kochan

MIT Sloan Professor Thomas Kochan

MIT Sloan Professor Thomas Kochan

From The Conversation

The recent U.S. election exposed two major intersecting fault lines in America that, if left unchecked, could soon produce an era of social and economic upheaval unlike any in our history.

First, it revealed deep divisions across racial, ethnic and gender lines that led to a surge in hate crimes last year, particularly against Muslims. Addressing this will require a sustained effort to heal these growing divisions and will be very difficult to resolve without strong leadership and a renewed willingness to listen to each other’s concerns.

Second, it gave voice to the deep-seated frustrations and anger of those who feel left behind by economic forces and fear their children will experience a lower standard of living than they did.

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America’s (quality) jobs creator: Community colleges — Thomas Kochan

MIT Sloan Professor Thomas Kochan

MIT Sloan Professor Thomas Kochan

From Fortune

Some Massachusetts Institute of Technology MBA students were blown away by the stories they recently heard from graduates of a local community college:

One young graduate told how he dropped out of high school and drifted for a couple years before becoming an Army Ranger and then, with the help of the GI Bill, and good army counselors, got his “second chance” at school by enrolling in the community college. He graduated and is pursuing a four-year college degree.

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The US has a jobs crisis. Here’s how to fix it — Simon Johnson

MIT Sloan Professor Simon Johnson

From The Guardian

To reduce the persistently high unemployment rate in the United States, Congress should move to relax some of our current constraints on immigration.

This is a controversial idea because many people are under the impression that allowing in more immigrants would push up unemployment. But that would only be the case if the number of jobs in the US were an unchanging constant. Read More »

How Wal-Mart can secure the American Dream for millennials — Thomas A. Kochan

MIT Sloan Professor Thomas Kochan

MIT Sloan Professor Thomas Kochan

From Fortune

It’s time all stakeholders — employees, business leaders, government officials, and educators — have a serious discussion about how the nation can create better jobs for the next generation.

Wal-Mart has been getting good press recently for its decision to raise its associates’ wages to a minimum of $9 per hour. And it should. So should the unions and community groups that have been pressuring the U.S. retailer to do just that. They also deserve some of the credit for exposing Wal-Mart’s low wages, reliance of associates on food stamps and other public assistance, anti-union tactics, and bottom of the industry ratings on customer service and employee satisfaction.

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How Corporate America can create better jobs — Thomas Kochan

MIT Sloan Professor Thomas Kochan

MIT Sloan Professor Thomas Kochan

From Fortune

In the 1987 movie Wall Street, Gordon Gekko’s memorable pronouncement that “greed is good” epitomized the worst features of American corporations that focus only on maximizing immediate shareholder returns without regard to the impact on their employees, customers, or communities.

That corporate caricature has continued to prevail. But recently, people ranging from Harvard University Business School Professor Michael Porter to leaders of the Sloan, Ford, Aspen, Hitachi (more here) and other foundations are putting forward the case that companies can provide great returns to shareholders and great jobs for employees.

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