The paper analyzes the contemporary organizational restructuring of production and work within firms. We emphasize the shift from a "Tayloristicʺ organization of work (characterized by significant specialization by tasks) to a "holisticʺ organization (featuring job rotation, integration of...

In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...