Liz Hipple on where the labor market is failing—and on how we have learned about these failures from economic research, and could learn useful things about other market failures if only we spent more money getting ourselves better data:

Liz Hipple: U.S. Economic Policies That Are Pro-Work and Pro-Worker: "The Measuring Real Income Growth Act, introduced by Senate Minority Leader Chuck Schumer (D-NY), would allow policymakers to see which income segments, demographic groups, and geographic areas of the country are actually experiencing economic growth by disaggregating the Gross Domestic Product statistics that the federal government produces. This is a key first step to better measuring.... There are clearly ways that policy could be doing a better job.... Unpredictable schedules, the lack of paid leave, and monopsony power are all examples of areas where research shows that breakdowns in the market...


#noted

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