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The World Bank's Modest Proposal: Create 600 Million Jobs In 15 Years And All May Yet Be Well

Tyler Durden's picture




 

In order to avoid social unrest and absorb the world's young people entering the global workforce, the World Bank Development Report states that 600 million jobs must be created from 2005 to 2020. As Bloomberg BusinessWeek reports, jobs should be at the top of governments' agendas or they could face  further uprisings such as toppled leaders in Egypt and Tunisia. "Demographic shifts, technological progress, and the lasting effects of the international financial crisis are reshaping the employment landscape in countries around the world," World Bank President Jim Yong Kim said in a foreword to the report. "Countries that successfully adapt to these changes and meet their jobs challenges can achieve dramatic gains in living standards, productivity growth, and more cohesive societies." However, those countries that don't adapt, face the kind of social unrest we have warned of again and again - and are starting to see in more and more civilized Western nations. So - a mere 600 milion jobs and all is well - amazing!!!

 

 

Their findings:- 90% of jobs are created in the private sector and so Governments must create an environment that encourages investment - especially in small- and medium-sized business.

 

 

 

90 second clip summary on Private Sector Job Creation:

 

2 minute clip on Joblessness and Social Cohesion:

 

and the full document (pdf):

WDR 2013 Report

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Tue, 10/02/2012 - 11:52 | 2848522 GetZeeGold
GetZeeGold's picture

 

 

We need a big hope nuke.

Tue, 10/02/2012 - 12:24 | 2848662 Oh regional Indian
Oh regional Indian's picture

Work, as we know it today, is a Protestant (conditioned) disease.

ori

Tue, 10/02/2012 - 13:02 | 2848830 Totentänzerlied
Totentänzerlied's picture

Highly dubious claim. Care to elaborate on why the Protestant work ethic is bad, or better still, propose an alternative that doesn't involve literal feudal serfdom a la the European Dark Ages for 90% of the population?

It would be nice if you provided some hint as to your metrics of good and bad as regards work, hopefully something not entirely abstract, postmodern, and/or Marxist like "alienation", unless you can offer a rigorous definition thereof!

Tue, 10/02/2012 - 14:35 | 2849167 Don Keot
Don Keot's picture

I guess i'm old fashion but someone will have to explain how you can have real economic growth without producing anything.

Tue, 10/02/2012 - 15:33 | 2849382 Panafrican Funk...
Panafrican Funktron Robot's picture

This is completely true.  Monkeys spend about 8 hours of week of actual work, in order to maintain their standard of living.  Why are us hairless monkeys working so much harder, particularly given the superior technology we have available?  

Also, there needs to be a serious conversation around what we're all going to do when technology inevitably replaces human labor, as it has been (in an accelerating fashion) for some time now.  

Tue, 10/02/2012 - 12:35 | 2848708 Silver Bug
Silver Bug's picture

Just try not to lose 700 million jobs why your at it.

 

http://davidmorganblog.blogspot.ca/

Tue, 10/02/2012 - 11:53 | 2848523 ihedgemyhedges
ihedgemyhedges's picture

I just hired a hot 23 year old blonde secretary.  So that's one job down.  So to speak...........

Tue, 10/02/2012 - 13:42 | 2848990 LULZBank
LULZBank's picture

Let me know, if you need growth.

Tue, 10/02/2012 - 14:44 | 2849188 Zero Debt
Zero Debt's picture

Any study that pushes "gender equality" has cultural marxist undercurrents. Be warned.

Tue, 10/02/2012 - 16:25 | 2849594 Flakmeister
Flakmeister's picture

Closet mysoginist, are we?

Tue, 10/02/2012 - 11:55 | 2848525 bigdumbnugly
bigdumbnugly's picture

600 million jobs need creating?

i could foresee a nice rise in obama phone repairmen.   but 600 million?  that might take a few more months

 

Tue, 10/02/2012 - 11:53 | 2848529 insanelysane
insanelysane's picture

According to my calculations that is 3.3million jobs per month which is no problem since the MSM is estatic that the US added 100k jobs last month.  Of course my numbers could be wrong as I have never attended a BLS Numbers Adjustment Course.

Tue, 10/02/2012 - 12:52 | 2848790 sgt_doom
sgt_doom's picture

This is an interesting phrase:

"..so Governments must create an environment that encourages investment - especially in small- and medium-sized business."

Frequently, speculation is confused with investment at this site, so one hopes they truly mean investment and not speculation.

I assume that recent republican-majority passed legislation in the US congress, giving small business loan preference to those "small businesses" which had already received investment from private equity firms and/or hedge funds, isn't part of the deal????

Tue, 10/02/2012 - 11:53 | 2848530 pods
pods's picture

Well hell that is all we have to do?

Why didn't anyone think of that before.  Let's just create jobs?

And if we get those 600 million jobs, oil is going to shoot out of our arses and every kid will have a unicorn!

Too bad the World Bank didn't only exist in the history books, like the passenger pigeon.

pods

Tue, 10/02/2012 - 11:55 | 2848533 Arthor Bearing
Arthor Bearing's picture

We could impose trade barriers on countries which practice slave labor so American workers don't have to compete with Chinese slaves for blue collar work, but that would threaten the wealth of some plutocrats so the option is off the table.

Tue, 10/02/2012 - 11:56 | 2848535 LawsofPhysics
LawsofPhysics's picture

Ross Perot is that you?

Tue, 10/02/2012 - 12:08 | 2848594 LULZBank
LULZBank's picture

Oh okay... so you manufacture iPhones in US, employing American workers and then everyone gets one via ObamaPhone scheme and then what?

Make the Apple labour force redundant? Job losses?

Or perhaps drive down their employment conditions to "slave" standards to make the products cheap enough to fuel consumption.

Better to do it offshore than onshore in US, some may suggest ;)

Tue, 10/02/2012 - 12:27 | 2848682 Arthor Bearing
Arthor Bearing's picture

People would have to pay more for their shiny extraneous distraction devices. Net benefit, people who need a shiny screen to stare at literally everywhere should be poorer. It's like a private-sector tax on short attention spans.

Tue, 10/02/2012 - 12:35 | 2848705 LULZBank
LULZBank's picture

Seems like you missed the point.

Once the high end consumer segment is saturated, you can only try to lower the production cost to get the lower next consumer segment.

You want to see your sales forecasts and profit charts hoing up.. up and beyond... No manager wants to hear "we have no more people left to sell our products to."

Tue, 10/02/2012 - 16:23 | 2849581 Arthor Bearing
Arthor Bearing's picture

And you are making the all-too-common of comflating consumption and economic health. Eat some psylosibin mushrooms and go back to the garden.

Tue, 10/02/2012 - 12:12 | 2848610 Urban Redneck
Urban Redneck's picture

The resulting loss of shiny iCrap to wow the muppets with would result in ever faster riots...

Tue, 10/02/2012 - 12:59 | 2848815 sgt_doom
sgt_doom's picture

".. so American workers don't have to compete with Chinese slaves.."

If you seriously believe American workers are "competing" when the American-based multinationals ship the jobs over there, create new jobs there, and use American foreign aid to finance various factories, production facilities, training centers, call centers, etc., there and elsewhere offshore, then you are really, really clueless. (Labor arbitrage has nothing to do with competition, but extracting the most profit for the Transnational Capitalist Class.)

Obviously, Arthor Bearing, we'd have to begin by imposing trade barriers on Amerika, since the American gov't routinely awards contracts to slave labor in privatized prisons in America, instead of small and medium-sized private sector businesses which could compete!

I mean, your comment simply speaks volumes and volumes of unending ignorance.

I heard a BBC Brit correctly state that Americans are "staggeringly ignorant" about American politics and current events.

Thanks for proving him right, should you be an American.

Tue, 10/02/2012 - 13:15 | 2848888 Totentänzerlied
Totentänzerlied's picture

A-b-s-u-r-d or just idiotic. Americans need jobs, Chinese need jobs, jobs are scarce and markets are international, et voila, labor competition. 

You have taken the definition of competition and simply removed all meaning from it. Bravo. Your post is rambling non-sequitur incoherence smacking of self-satisfaction and petty vulgar anti-capitalism. You are as much in error as is the poster to which you are responding.

" imposing trade barriers on Amerika, since the American gov't routinely awards contracts to slave labor in privatized prisons in America"

Yes unlike the Chinese whose record of respect for human rights and economic meddling is pristine and spotless. Shill-out man.

I mean, your comment simply speaks volumes and volumes of unending self-righteous proletarian economically-deaf-dumb-and-blind-ignorant bullshit, and an even bigger ego.

Tue, 10/02/2012 - 16:23 | 2849585 Arthor Bearing
Arthor Bearing's picture

Except my post was free of errors because it was based on simple and demonstrable principles rather than complex theoretical proofs.

Tue, 10/02/2012 - 16:21 | 2849575 Arthor Bearing
Arthor Bearing's picture

Chinese do work that Americans could do, for far cheaper, thus pricing Americans out of the marketplace. Rather than implicitly trumpeting your own competence by deigning to insult my lack thereof, you could bother to learn basic principles of economics. You are right about crony capitalism of which private prisons are a factor, but even private prisoners aren't doing much in the way of manufucturing. That happens in Mexico and China. 

See how easy it is to make a coherent point without veering off into ad hominims? Though f I may indulge just one insult for you, your little shaming viz. the judgment of the English (which I presume is what you meant by Brits) makes you look like a pathetic pedant. I could give a shit what the English have to say about Americans, I can judge for myself who among us is knowledgeable and who ignorant.

Tue, 10/02/2012 - 11:55 | 2848534 LawsofPhysics
LawsofPhysics's picture

Good jobs means that something real or of real value is being created.  Sorry, not buying into any new financial "product" bullshit.  Making real things requires real energy and real commodity input.  Did a whole bunch of fusion reactors come on line or something?  Maybe we are simply talking about channel stuffing here.

Shit, what did I miss? 

Tue, 10/02/2012 - 11:58 | 2848546 PiratePawpaw
PiratePawpaw's picture

Most likely someone will hire about a million people to make 599 million rifles and a crap-load of bullets. That should about do it.

Tue, 10/02/2012 - 11:58 | 2848547 Temporalist
Temporalist's picture

Maybe I'm wrong about this but if governments could "create" jobs wouldn't they have done so already?

Tue, 10/02/2012 - 12:05 | 2848577 LULZBank
LULZBank's picture

No.. they were waiting for someone overpaid ugly prat from IMF or World Bank, think tank kinda personality to make this "advise" to them. People at the World Bank and advisers need employment too.

Tue, 10/02/2012 - 13:01 | 2848827 sgt_doom
sgt_doom's picture

Yeah, and if they could put a man on the moon, we' have a moon station by this time .....

Tue, 10/02/2012 - 13:23 | 2848915 Totentänzerlied
Totentänzerlied's picture

Non-sequitur, flawed analogy. Try again. Show me the government jobs-plan that isn't funded by taxes or debt and doesn't rely on artificial incentives, tax breaks, monopoly/cartel privilege, intellectual property fraud, barriers to entry, artificial scarcity, etc. and therefore has the possibility of being productive for the economy.

Stealing money and handing it out to your friends is not a jobs plan.

Tue, 10/02/2012 - 13:46 | 2849004 LULZBank
LULZBank's picture

 

Stealing money and handing it out to your friends is not a jobs plan.

It is actually... in a way... if you think about it...

Tue, 10/02/2012 - 14:47 | 2849197 Zero Debt
Zero Debt's picture

Why should they. If they did they would be out of a job themselves doling out stolen goods.

Tue, 10/02/2012 - 11:59 | 2848551 Mad Mad Woman
Mad Mad Woman's picture

So what are the big corporations going to do, continue to sit on huge piles of cash?  I guess they don't really realize that they're shooting themselves in the foot while waiting for the "uncertainty" to pass. How's that 4th Quarter going to work out for you Corporate America?  Karma's a bitch you assholes!

Tue, 10/02/2012 - 12:19 | 2848640 Shizzmoney
Shizzmoney's picture

So what are the big corporations going to do, continue to sit on huge piles of cash?

Yes, until they get their way.

Corporations are currently locking out the labor class until the "government" enforces what they must be willing to accept:

- higher taxes for workers in the 4th and 3th percentile

- lower taxes on corporations (but not small businesses, ensuring monopolies)

- and of course, creating and inflating a high unemployment number which dilutes the labor pool so deep, that workers have no choice but to accept Chinese niggard wages.

Hedge accordingly.

Tue, 10/02/2012 - 13:06 | 2848845 sgt_doom
sgt_doom's picture

Thanx, shizz, and well stated.

The two obvious biggest contradictions today, which the paid newsies repeat, and the Ameribots mindlessly repeat ('cause that's all they are good at):

(1) Corporations and banks are making record profits, but "afraid" to hire?????

(2) US households lost $17 trillion in wealth, savings, assets and value between 2007 to 2009, but are "afraid" to spend money (as in what frigging money, douchetards????)?

Banksters et al. make the most profit from paying the least for labor, and consumers (formerly known as citizens) don't have any money to spend.

Reality Economics for Truth Seekers
 
The last several weeks I've heard over 40 people, and several Brits, on various news shows either incorrectly --- or falsely --- claim that the American economy is a consumer-based economy.
 
Wrong, wrong and wrong --- hasn't been such since at least 1999.
 
Today, the top 5 banksters in America account for the majority of the GDP, not only is this wrong in and of itself that such should be, but it's based upon a financial scam.
 
The banksters' creation, ownership and control of over $100 trillion worth of credit derivatives gives them that majority of the GDP --- the same credit derivatives which Bernanke's Federal Reserve buys up with his QEI, II and III --- naming them toxic assets and allowing the banks to create the next wave of credit derivatives.
 
Based upon these toxic assets/credit derivatives these banks peddle goods and services which make up a portion of that 70% consumption figure of the American economy we are always hearing stated --- yet we never hear the breakdown of that 70% consuming figure.
 
The vast majority of that 70% consumption derives from
the top 20% of the population --- decidedly not the majority, simply the wealthiest, the logical outcome of the super-concentration of wealth predicated on the American fantasy-finance based economy.
 
It is really that simple.

Tue, 10/02/2012 - 13:27 | 2848930 Totentänzerlied
Totentänzerlied's picture

"Yes, until they get their way."

Just what do you think the last 200 years have consisted of?

The hilarious irony is that you oppose corporate fascism with proletarian socialism, the result is of course identical for the man in the street: worserer.

Tue, 10/02/2012 - 15:42 | 2849426 Panafrican Funk...
Panafrican Funktron Robot's picture

"The hilarious irony is that you oppose corporate fascism with proletarian socialism"

That was a logic leap you made, and it is a false dichotomy.  Fuck you, govvy troll.  Get the fuck off this board.

Tue, 10/02/2012 - 12:03 | 2848568 LULZBank
LULZBank's picture

What happens, lets suppose, everyone on this planet has a house, a car and an appropriate iGadget... What happens then? What goods and services would need to be produced to keep the employment levels?

Otherwise.. its just a job creation and job destruction cycle to keep the sheeple busy and people at the top trying to sound like they know what they are talking about and deserve to be respected and paid stupid salaries.

Tue, 10/02/2012 - 12:12 | 2848609 pods
pods's picture

Bankers want growth.

You don't think that interest is going to pay itself, do you?

pods

Tue, 10/02/2012 - 12:21 | 2848653 LawsofPhysics
LawsofPhysics's picture

Correct.  humanity itself is the ponzi.  Unfortunately for bankers the slaves still require food and other real commodities to survive.

Tue, 10/02/2012 - 12:27 | 2848683 pods
pods's picture

We do not have to be.  But with this system of debt money and interest it forces society into exponential (I liked your yeast analogy, very fitting) growth and collapse cycles.

So everything in life today is based upon covering up the fractional reserve lending lie.

In-fucking-sane!

pods

Tue, 10/02/2012 - 12:23 | 2848659 LULZBank
LULZBank's picture

Given, the "interest" portion of the "print money" is never printed, its always paid via your slaving (some may call it labour) or via reducing your consumptions (soon to be just food rations).

Welfare programmes can spread it over the population for a while, but thats what it will come down to eventually.

Bankers want growth, just to increase the magnitude of the intended "harvest" and the size of the slave population, not exactly to get back the interest pad in full via money, as that actually causes a collapse in the financial system.

Tue, 10/02/2012 - 13:31 | 2848946 Totentänzerlied
Totentänzerlied's picture

"Welfare programmes can spread it over the population for a while, but thats what it will come down to eventually."

You mean we never left the gift economy? Oh, the humanity! Say it ain't so!!!

Tue, 10/02/2012 - 13:07 | 2848853 sgt_doom
sgt_doom's picture

Churn, you mean, and they have churn with Bernanke's QE I, II, III ..., buying up their toxic assets (formerly known as credit derivatives based upon layers of debt) to afford the banksters the opportunity to create ever more credit derivatives.

Churn, or false profit and thievery....

Tue, 10/02/2012 - 12:27 | 2848681 GoldenTool
GoldenTool's picture

Isn't this were we have been for the last 30 years?

 

operari sequitur esse

Tue, 10/02/2012 - 12:04 | 2848574 PUD
PUD's picture

Correction..."saved" or "created" 600 trillion jobs. fixed it for ya..yes we can!

Tue, 10/02/2012 - 12:08 | 2848585 Bicycle Repairman
Bicycle Repairman's picture

I'll let you in on a little secret:  lots of people don't want jobs.  They just want a check and complete freedom.

Tue, 10/02/2012 - 12:13 | 2848613 XitSam
XitSam's picture

There are new jobs in Detroit. Convenience store owner.

Just give me the freedom. I'll skip the check.

Tue, 10/02/2012 - 12:23 | 2848656 pods
pods's picture

Yikes, Detroit is lost.  Time to just GTFO of that hellhole.

Doesn't anyone own a rifle there?  I mean, one guy says "We are taking this store from you dammit and there isn't anything you (BOOM!).

Any questions?

As an aside I did like the part where the "preacher" was relieved of his $15k rolex, infinity, and other crap.  Man of the people for sure.

pods

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