Prof. Meir Russ of the Cofrin School of Business published online the paper, “The Trifurcation of the Labor Markets in the Networked, Knowledge-Driven, Global Economy” – in the Journal of the Knowledge Economy. This conceptual, interdisciplinary paper negates the notion that we have, at present, one labor market for human capital, and will conjecture that we currently have (or are about to have) three autonomous markets for labor that are driven by different market dynamics and mechanisms. This trifurcation of the labor markets is mostly the combined result of phase transition resulting from three major impetuses identified in the paper. The three markets are identified as follows: routine labor, skilled labor, and talent. Each one of the markets is then be discussed, including future trends, issues, and remedies. This trifurcation of the labor markets is mostly the combined result of phase transition resulting from three major impetuses identified in the paper.
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9 Jan, 2020