Word: retraining
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Dates: during 1990-1990
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Eastern Europe remains a risky, often maddening place to do business. One of the first tasks of Western companies is to retrain local labor forces that grew slack under communism and lack disciplined work habits. Simple bookkeeping can be a major problem: East European companies have been taught to follow central plans, and know little about Western-style profit-and-loss statements. At the same time, Eastern Europe's infrastructure is woefully inadequate for modern industry and commerce. A recent study by the Chicago Federal Reserve Bank estimated that the region would require 274,000 miles of new roads...
...obligation to those workers and to the loggers of the Northwest? It would be impossibly costly for Congress to insure every citizen against the winds of change. But when scores of communities are imperiled, relief measures are necessary. In the case of the Northwest, the Federal Government should help retrain loggers and millworkers and provide towns with grants to spur economic diversification. Congress could also help sustain the Northwest's processing mills by passing legislation aimed at reducing raw-log exports...
...Pieroth insists that unemployment can be kept to a manageable 500,000, or 5.5%. Part of his strategy is to encourage Westerners involved in joint ventures to retrain workers whose skills are made obsolete. Pieroth also plans - to generate new jobs by pumping up to $12 billion in public and private funds annually for several years into rebuilding East Germany's decrepit infrastructure...