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World Development Report 2019

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World Development Report 2019

The Changing Nature of Work



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World Development Report 2019 by World Bank Group
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Work is constantly reshaped by technological progress. New ways of production are adopted, markets expand, and societies evolve. But some changes provoke more attention than others, in part due to the vast uncertainty involved in making predictions about the future. The 2019 World Development Report studies how the nature of work is changing as a result of advances in technology today. While technology improves overall living standards, the process can be disruptive. A new social contract is needed to smooth the transition and guard against rising inequality. As a first priority, significant investments in human capital throughout a person's lifecycle are vital to this effort. If workers are to stay competitive against machines they need to be able to retool existing skills or be better trained from the start. More information and better measurement of human capital is needed. How much human capital can a child born today expect to attain by the end of secondary school, given the risks of poor health and poor education that prevail in the country where she was born? The World Bank's recently-launched Human Capital Project (HCP), seeks to answer this question through a new global benchmark-the Human Capital Index (HCI). The HCP is also comprised of a program of measurement and research to inform policy action, and a program of support for country strategies to accelerate investment in human capital. In addition to investments in human capital, the changing nature of work demands updates to social protection systems. Traditional provisions of social protection based on steady wage employment, clear definitions of employers and employees, as well as a fixed point of retirement become increasingly obsolete. Improved private sector policies to encourage startup activity and competition can also help countries to compete in the digital age. Governments will need additional revenues to fund the investments demanded by the changing nature of work. Governments can create fiscal space through a mix of additional revenues from existing taxes (increases in rates or widening of the tax base), the introduction of new taxes, and improvements in tax administration. The 2019 World Development Report presents an analysis of these issues based upon the available evidence.

Author Biography

The World Bank came into formal existence in 1945 following the international ratification of the Bretton Woods agreements. It is a vital source of financial and technical assistance to developing countries around the world. The organization's activities are focused on education, health, agriculture and rural development, environmental protection, establishing and enforcing regulations, infrastructure development, governance and legal institutions development. The World Bank is made up of two unique development institutions owned by its 185 Member Countries. The International Bank for Reconstruction and Development (IBRD) focuses on middle income and creditworthy poor countries and the International Development Association (IDA), which focuses on the poorest countries in the world.
Release date Australia
December 30th, 2018
Country of Publication
United States
World Bank Publications
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