Human capital and organizational capital are increasingly
important as a source of value in many firms. But even as this is
happening, organizational forms and employment relationships appear
to be changing in ways that reduce loyalty and commitment and
encourage mobility on the part of employees. Are these changes
consistent in ways that contradict traditional theory and wisdom,
or is the corporate sector getting a temporary boost in earnings by
restructuring and cutting payrolls; but failing to make necessary
new investments in human capital?
The essays in this book provide intriguing new evidence on these
questions. The contributors quantify the degree to which job
stability is declining, and the costs of job loss to long-term
workers; provide historical perspective on today's workplace
changes; explore the reasons why work is being reorganized and
decisionmaking tasks are being pushed downward; examine the
rationale for and effect of equity-based compensation systems, both
in old industries and in the newest high-tech sectors; and assess
the "state of the art" of measuring and accounting for investments
in human capital.
This book is the result of a joint Brookings-MIT conference. In
addition to the editors, authors include Eileen Appelbaum, Laurie
Bassi, Avner Ben-Ner, Peter Berg, Joseph Blasi, Timothy Bresnahan,
Eric Brynjolfsson, Allen Burns, Peter Cappelli, Greg Dow, Lorin
Hitt, Douglas Kruse, Baruch Lev, Julia Liebeskind, Jonathon Low,
Daniel McMurrer, Louis Putterman, Charles Schultze, and Anthony
Siesfeld.
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