A Quote by Janet Yellen
Productivity depends on many factors, including our workforce's knowledge and skills and the quantity and quality of the capital, technology, and infrastructure that they have to work with.
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Long-term economic growth depends mainly on nonmonetary factors such as population growth and workforce participation, the skills and aptitudes of our workforce, the tools at their disposal, and the pace of technological advance. Fiscal and regulatory policies can have important effects on these factors.
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The only irreplaceable capital an organization possesses is the knowledge and ability of its people. The productivity of that capital depends on how effectively people share their competence with those who can use it.
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Military veterans have unique skills, experience, and qualifications that are invaluable to today's workforce, including teamwork and leadership skills, the proven ability to learn quickly, a strong work ethic, dedication, and the ability to work under pressure.
NAFTA recognizes the reality of today's economy - globalization and technology. Our future is not in competing at the low-level wage job; it is in creating high-wage, new technology jobs based on our skills and our productivity.
Advanced technology changes the way we work and the skills we need, but it also boosts productivity and creates new jobs.
If I were to give a summary of the tendency of our times, I would say, Quantity. The multitude, the mass spirit, dominates everywhere, destroying quality. Our entire life--production, politics, and education--rests on quantity, on numbers. The worker who once took pride in the thoroughness and quality of his work, has been replaced by brainless, incompetent automatons, who turn out enormous quantities of things, valueless to themselves, and generally injurious to the rest of mankind. Thus quantity, instead of adding to life's comforts and peace, has merely increased man's burden.
Creativity depends on a number of things: experience, including knowledge and technical skills; talent; an ability to think in new ways; and the capacity to push through uncreative dry spells.
Warp speed developments in technology - automation, artificial intelligence, and the arrival of the sharing economy - are transforming how we work. Beyond technology, traditional working patterns are also being disrupted by changes in society, organizations and workforce management, leading to the rise of a more independent and dispersed workforce.
What being among the 'right people' entails is the possession of human capital, rather than organizational capital: an individual reputation, portable skills, and network connections. Career responsibility is squarely in the hands of individuals, a function of their knowledge and networks. Transferable knowledge is more important to a career than firm-specific knowledge.
Like many others, I have deep misgivings about the state of education in the United States. Too many of our students fail to graduate from high school with the basic skills they will need to succeed in the 21st Century economy, much less prepared for the rigors of college and career. Although our top universities continue to rank among the best in the world, too few American students are pursuing degrees in science and technology. Compounding this problem is our failure to provide sufficient training for those already in the workforce.
When ministers in this government talk about investing in education and skills, about making the planning system work; about employment law reform and delivering transport and power generation and broadband communication infrastructure, we are talking about raising Britain's productivity.
What is important is not the quantity of your knowledge but its quality. You can know many things without knowing the most important.
Your workforce is your most valuable asset. The knowledge and skills they have represent the fuel that drives the engine of business - and you can leverage that knowledge.
Advances in technology and in our understanding of illness and disease together with an expanded workforce and greater resources will allow us to provide more services to a higher quality.
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