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Labor Market Freedom And Economic Prosperity: How Does Missouri Compare?, Dean Stansel
Labor Market Freedom And Economic Prosperity: How Does Missouri Compare?, Dean Stansel
Center for Applied Economics
Government restrictions on workers and employers tend to have a dampening effect on their ability to thrive. There have been numerous studies of the relationship between state labor market restrictions and labor market outcomes (as well as economic outcomes in general). As theory would imply, that literature generally has found a positive relationship between labor market freedom and various measures of positive economic outcomes. After a discussion of the concept of economic freedom and how it is measured in labor markets, this paper briefly reviews that literature. It also provides a detailed examination of how Missouri compares to its neighboring …
The State Of The Missouri Economy And Workforce, Timothy J. Gronberg, Dennis W. Jansen, Lori L. Taylor
The State Of The Missouri Economy And Workforce, Timothy J. Gronberg, Dennis W. Jansen, Lori L. Taylor
Center for Applied Economics
This article presents an overview of the state of the Missouri economy. We begin by assessing measures of economic output. Compared to the nation and to neighboring states, Missouri’s economy has hardly grown over the past 20 years. We identify several sources for this lackluster record. Perhaps one of the most important is the observation is that productivity in Missouri—output per worker—is lower than the national average. This poor productivity record quite possibly stems from two sources. One is problematic trends in labor force quality. A key factor here is a lack of commitment by the state to a higher …