On the Accuracy of Economic Observations: Do Sub-Saharan Trade Statistics Mean Anything?

African governments are being urged to promote commodity exports,yet without reliable trade statistics it is difficult to formulateappropriate policies to achieve this goal. This article assessesthe accuracy of U.N. trade statistics by comparing the declaredvalue of African exports, plus a transport and insurance costfactor, with partner countries' reported import values. Theresults show that major discrepancies often exist between thetwo, with false invoicing and smuggling apparently responsiblefor much of the difference. Although major disparities existin data on trade with developed countries, the average differencesin intra-African trade statistics are substantially larger.Statistical tests show that these data cannot be relied on toindicate the level, composition, or even direction and trendsin African trade.     

Das Zeitmoment in der Theorie des Produktivzinses

Ohne Zusammenfassung     

Underwork,Work‐Hour Insecurity,and A New Approach to Wage and Hour Regulation

When it was passed in 1938, the Fair Labor Standards Act (FLSA) sought to address the “evils” of underpay and overwork by establishing an hourly minimum wage and requiring premium overtime pay. However, today's low‐wage, hourly workers more often face underwork than overwork, as well as fluctuating, unstable schedules, neither of which is addressed by the FLSA. This paper presents and assesses the effectiveness of an alternative approach to wage and hour regulation, the “reporting pay” guarantee. We begin by examining the problem of work‐hour insecurity, particularly employers’ practice of sending workers home early from scheduled shifts. We then move to a detailed assessment of state laws that require reporting pay, as well as reporting pay guarantees in union contracts and private‐employer practices that attempt to address the problem of work‐hour insecurity. We conclude by considering paths for strengthening such protections in law.     

Aligning employees through “line of sight”

Aligning employees with the firm's larger strategic goals is critical if organizations hope to manage their human capital effectively and ultimately attain strategic success. An important component of attaining and sustaining this alignment is for employees to have a “line of sight” (LOS) with their organization's strategic objectives. In this article, we illustrate how the translation of calculated firm goals into tangible results requires that employees not only understand the organization's strategy, but also accurately appreciate what actions are aligned with realizing that strategy. Using recent empirical evidence, theoretical insights, and tangible examples of exemplary firm practices, we provide thought-leaders with a comprehensive view of LOS by showing how it can be created, how it can be enhanced or stifled, and how it can be effectively managed. Further, we integrate LOS with current thinking on employee alignment to help managers more effectively benefit from understanding human capital potential.