Paying Skilled Workers More Would Create More Skilled Workers

Thijs van Rens, Harvard Business Review, May 19, 2016
Commentary by Stephen Downes

I've talked from time to time over the years about the skills shortage. It was one of the bases for the LPSS program. While on the one hand this is an educational challenge (and remains so) on the other hand, as suggested by the title of this post, it is also an economic challenge. The fact is, over the last four decades, compensation has not kept pace with productivity improvements by skilled workers (including me!) with the result that income inequity continues to rise. And so, according to this article, " Research that I and my colleagues have conducted suggests that the skills gap persists mainly because employers are unwilling or unable to pay market price for the skills they require." The research doesn't explain why compensation hasn't kept pace. But I'm sure we can come up with our own theories.

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