Archive for December 8th, 2016

Why President (elect) Trump needs to make girly jobs appeal to manly men..

December 8, 2016

Nice piece by Prof Betsey Stevenson.

She says Trump has got American men to revive old memories of working in the industry and with big machines etc. However, times have changed and these jobs just don’t exist:

Donald Trump wants America to make things. On the campaign trail, he promised to bring iPhone assembly to the U.S. More recently, he has threatened to retaliate against any company that moves jobs offshore. If he really wants to help his supporters, though, he should think twice about what kinds of jobs to promote.

…..Problem is, the new jobs are in occupations held disproportionately by women. As of 2015, men held just 23 percent of private-sector jobs in education and health services, compared with 73 percent in manufacturing. Lower-skilled men don’t seem to want service jobs. As the goods sector has declined, so has the labor-force participation of men without a college degree. Today only 83 percent of prime-age men with a high school degree or less are employed or actively seeking work. In 1964, 97 percent were.

Those who have adapted by seeking more education have done well. The unemployment rate of college graduates is a mere 2.3 percent, and 94 percent of college-educated prime age men are in the labor force. They also earn a lot more: The difference between the wages of college and high school graduates has never been larger.

Policy wonks like me have wondered why more lower-skilled men aren’t adapting. Why don’t they take care of their children when they are out of work? Why don’t they take jobs as home health aides? Or sign up for degrees in nursing? One problem is that these occupations conflict with traditional notions of masculinity. They require sitting, caring and communicating, as opposed to working with big machines.

Trump represents a vision of masculinity that those who embrace the modern economy have readily abandoned.

So his task is to make so called girly jobs appeal to manly men:

By encouraging men to cling to work that isn’t coming back, Trump is doing them a disservice. The more important and difficult task is figuring out how to change the culture in ways that will allow them to do the jobs of the future. In other words, if Trump really wants to get more Americans working, he’ll have to do something out of his comfort zone: make girly jobs appeal to manly men.

Hmm..

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What former RBI top officials should be telling us about the demonetisation drive…

December 8, 2016

One has been getting some bit of coverage from RBI top officials on the recent demonetisation drive.

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Impact of Demonetisation on Kerala’s financial institutions…

December 8, 2016

Kerala has a intriguing financial history of its own. The region has a long history of trade (rice and spices) and this has led its economy to be monetised much before we understood the term. This monetisation has led to the region looking for ways to mobilise and channelise finances. Thus, the region has been home to the oldest form of financial intermediation – chit funds. The chit funds soon spread across the region.

As joint stock banks became popular, some of the chit funds evolved to large number of small community driven banks. Most of these banks were forced to close following failure of Palai Central Bank in 1960. There were some 100 plus banks in the State in 1959 which declined to 7 odd by the time of bank nationalisation in 1969.  The region also had a prominent State sponsored Bank of Travancore which was made part of SBI group. Then there are cooperatives which are spread across the State. The State historically has the lowest number of people per branch which (I think) continues till date.

So, impact of demonetisation can also be seen from its impact on various financial institutions in Kerala.

K Rajendran of Wire has a piece:

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This map shows how much each country spends on food

December 8, 2016

Alex Gray has a nice map and post on the food expendture trends around the world:

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