Word: laboral
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...term economic growth and an ever higher standard of living while others don't? What determines whether people in your part of the planet live in McMansions, mobile homes or mud huts? In the 18th century, proto-economist Adam Smith pointed to the transformative effect of the division of labor. In the 19th, David Ricardo highlighted the benefits of trade. In the 20th, Harvard University's Michael Porter made the case for industry clusters. Geography, physical capital, technology, worker education--they've all taken a turn as the supposed silver bullet...
...Claus Hjort Fredriksen, also a former advocate of big cutbacks in the welfare state: "I have to admit now, 15 to 20 years later, that the model we have found here--free education, free health care, a good financial situation if you lose your job, together with a flexible labor market and the size of Danish companies--somehow has struck something that is the answer to the challenges of globalization...
...whom all but 478,000 are of Danish ancestry--are crucial to how the economy works. "We've been one small nation for 1,000 years," says Hans Skov Christensen, who as director general of the Confederation of Danish Industries negotiates the nationwide bargaining agreements between management and labor every few years. "We're basically a clan...
...perhaps some of Denmark's success has to be chalked up to, well, Danishness. And there's no guarantee that it will continue. Business leaders say they face worsening labor shortages and can't attract skilled foreigners to a country that has such high taxes (not to mention dreary weather and an incomprehensible language). But the fact that Denmark has combined a dynamic economy with a tax burden almost double that of the U.S. gives the lie to many economic arguments made over the past quarter-century. There's more than one way, it turns out, to be competitive...
Despite the idyllic surroundings, Happy Valley nearly closed four years ago. It faces the same challenges confronting the rest of the Indian tea industry--intense global competition, fickle consumer tastes and labor disputes that have occasionally turned violent. India produces more tea than any other country in the world except China, but after years of neglecting to invest in marketing or technology, India has seen its exports fall behind those of Sri Lanka, Kenya and China in the $7.5 billion global tea market...