The economic crisis experienced by many developed countries over the past decade saw the emergence of the phenomenon of so-called recovered firms (RFs), or employee buyouts of failed capitalist firms (CFs). While it is obvious that one of the objectives sought by these workers is to keep their jobs, the subsequent performance of these firms is unclear. Are RFs more likely to fail than other worker managed firms (WMFs) or than CFs? Do RF workers get higher incomes than their peers in other WMFs or in CFs? This analysis is based on a linked employer–employee panel data set from Uruguayan social security administrative records. The main findings are that RFs survive longer than other WMFs or than CFs. However, RF workers receive incomes lower than those of their peers at other WMFs or at CFs. This income differential is explained partly by a brain drain process and specific human capital losses.

In this article, we examine the effect of workforce ageing on company productivity, using an analysis based on Korean firms. We found that an increase in the ratio of workers aged over 50 years to total workers had a negative effect on value added per worker, which was consistent with the findings of most previous studies based on European data. However, the results of the analysis, including various classifications such as size, industry and several financial conditions, revealed that an increase in the ratio of older workers had positive effects on value added per worker in large manufacturing firms under risky or growing conditions. As the productivity of older workers may vary, future research may determine under what conditions – size, industry, region and financial conditions – older workers contribute positively to productivity. Firms with financial troubles or those planning to downsize should be cautious about laying off older workers as an approach to improving organisational performance because these workers contribute positively to productivity under certain conditions.

Three economic opportunities are presented for rural areas in this invitedpaper session: self-employment, investments in broadband infrastructure, andagritourism. Self-employment has shown growth in rural regions at theexpense of wage and salary employment in the long-term. Productionagriculture interests by themselves are unlikely to provide sufficientfunding to expand infrastructure for broadband in rural areas. Agritourismapproaches appear to be very wide ranging with many educational demandsneeding to be met to maximize its diversification possibilities. Researchand extension faculty should be careful to focus on explaining the tradeoffsof these opportunities so that rural stakeholders do not fall victim to thelatest academic economic development fad.

Even as self-employment continues to increase, policymakers remain largelyunaware of this trend and fail to see it as an opportunity for addressingenduring joblessness. In part, this is explained by limited data on theself-employed and by widespread perceptions that returns to self-employmentare low; that the self-employed are merely patching together piecemeal workopportunities requiring limited skills; and that there are no local economicimpacts or spillover benefits into other sectors. Contrary to theseperceptions, recent studies suggest that self-employment has tangiblepositive economic impacts not only on wage and salary employment but also onper capita income growth and poverty reduction. This article synthesizes thepertinent emerging literature and assesses dynamics of the lags involvedbetween self-employment shocks and subsequent employment growth.