The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

The authors developed and meta-analytically examined hypotheses designed to test and extend work design theory by integrating motivational, social, and work context characteristics. Results from a summary of 259 studies and 219,625 participants showed that 14 work characteristics explained, on average, 43% of the variance in the 19 worker attitudes and behaviors examined. For example, motivational characteristics explained 25% of the variance in subjective performance, 2% in turnover perceptions, 34% in job satisfaction, 24% in organizational commitment, and 26% in role perception outcomes. Beyond motivational characteristics, social characteristics explained incremental variances of 9% of the variance in subjective performance, 24% in turnover intentions, 17% in job satisfaction, 40% in organizational commitment, and 18% in role perception outcomes. Finally, beyond both motivational and social characteristics, work context characteristics explained incremental variances of 4% in job satisfaction and 16% in stress. The results of this study suggest numerous opportunities for the continued development of work design theory and practice.

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Integrating Motivational, Social, and Contextual Work Design Features: A Meta-Analytic Summary and Theoretical Extension of the Work Design Literature

Quasi-experimentation - design and analysis issues for field settings - cook,td, campbell,dt

A survey is a potentially powerful assessment, monitoring, and evaluation tool available to organizational scientists. To be effective, however, individuals must complete the survey and in the inev...

Introduction: Understanding and Dealing With Organizational Survey Nonresponse

In this landmark book, Scott Page redefines the way we understand ourselves in relation to one another. The Difference is about how we think in groups--and how our collective wisdom exceeds the sum of its parts. Why can teams of people find better solutions than brilliant individuals working alone? And why are the best group decisions and predictions those that draw upon the very qualities that make each of us unique? The answers lie in diversity--not what we look like outside, but what we look like within, our distinct tools and abilities. The Difference reveals that progress and innovation may depend less on lone thinkers with enormous IQs than on diverse people working together and capitalizing on their individuality. Page shows how groups that display a range of perspectives outperform groups of like-minded experts. Diversity yields superior outcomes, and Page proves it using his own cutting-edge research. Moving beyond the politics that cloud standard debates about diversity, he explains why difference beats out homogeneity, whether you're talking about citizens in a democracy or scientists in the laboratory. He examines practical ways to apply diversity's logic to a host of problems, and along the way offers fascinating and surprising examples, from the redesign of the Chicago "El" to the truth about where we store our ketchup. Page changes the way we understand diversity--how to harness its untapped potential, how to understand and avoid its traps, and how we can leverage our differences for the benefit of all.

Prologue to The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies

We surveyed three distinct samples of employees (Ns of 238, 102, and 981) in order to examine relations among various types of underemployment, job satisfaction, organizational commitment, and turnover intentions. Each dimension of underemployment is explored as a case of poor person-job fit, and the fit literature is used to produce hypotheses about these relations. We also developed and validated the 9-item Scale of Perceived Overqualification (SPOQ) to tap employee perceptions of surplus education, experience, and KSAs (knowledge, skills, and abilities). In general, perceptions of underemployment were associated with poor job satisfaction, particularly for facets with a direct causal relationship with the specific dimension of underemployment, such as overqualification and satisfaction with work. Perceived overqualification was also related to lower affective commitment, and higher intentions to turnover. For part-time work, negative attitudes were only found when employees expressed a preference for full-time work; a similar trend was not found for temporary workers, however. Implications for theory, research, and practice are delineated. Copyright © 2006 John Wiley & Sons, Ltd.

Underemployment, job attitudes, and turnover intentions

The thesis of this research is that performance on a task depends not only on objective complexity (a task characteristic) but also on one's perception of task complexity. This study allowed investigation of the influences of (a) cognitive ability, (b) motivation, (c) subjective task complexity, and (d) task experience on performance for an objectively simple or complex scheduling task. Potential determinants of subjective complexity were also studied, as well as the mediating effects of subjective complexity on the relations between independent variables (i.e., objective complex- ity, cognitive ability, and task experience) and task performance. Participants (N = 195) were undergraduates who prepared a 1-week work schedule for a fictitious film processing store under either a Simple or Complex condition. Those in the Complex condition were additionally required to account for employee time off and varying store traffic. Hierarchical regression revealed significant, unique main effects for objective task ...

Effects of Objective and Subjective Task Complexity on Performance

The current study examined a moderated mediation model of perceived overqualification and job search, with job attitudes as mediators and the competence and growth work value as a moderator. We also hypothesized a positive relationship between overqualification and actual voluntary turnover behaviour. College graduates from diverse occupations completed two surveys spaced 6 months apart ( n = 368). Results suggested that perceived overqualification at Time 1 led to active job search behaviour at Time 2, both directly and through job satisfaction. The direct link was moderated by work values, such that the overqualification-job search relationship was stronger for employees who highly valued work which offered skill utilization and growth. Perceived overqualification was also predictive of voluntary turnover behaviour; those at the high end of the overqualification scale were over four times more likely to have left their position than those at the low end of the scale. Finally, those who left their original positions reported less overqualification in their new positions. The current findings extend the limited existing literature by establishing relationships between overqualification and withdrawal behaviours 6 months later, and also providing evidence that individual differences may influence reactions to being overqualified. Practitioner points The current study found that employees who feel overqualified were more likely to be searching for a new job 6 months later, especially among those who strongly value work that utilizes their skills. Perceived overqualification was also linked to future actual turnover behaviour. Thus, organizations stand to potentially lose talented employees if they feel underutilized and underchallenged in their jobs., These trends are particularly true of employees who strongly desire work that takes advantage of their talents, suggesting that the most ambitious employees are likely to seek alternate employment if they feel underutilized., To retain these employees, supervisors first need to identify employees who might be feeling overqualified and underutilized, as these perceptions may or may not line up with 'objective' overqualification. The supervisor can then consider ways to empower the employee through increased involvement in decision-making or offering more advanced job assignments. [ABSTRACT FROM AUTHOR]

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Perceived overqualification and withdrawal behaviours: Examining the roles of job attitudes and work values

In the modern marketplace, especially when unemployment is high, more and more Americans find themselves overqualified (i.e., possessing more competencies than the job requires). Using and extending person-environment fit theory and the stressor-emotion model of counterproductive work behaviors (CWBs), we examine whether overqualified employees are more likely to display CWBs than employees who feel their positions match their qualification levels. Further, we examine why overqualified employees may behave in counterproductive ways and compare the empirical viability of several theoretically derived competing mediators. Based on data from a sample of full-time employees (n = 215), we found that consistent with the theoretical frameworks, overqualified incumbents display nondesirable counterproductive work behaviors because they become cynical about the meaningfulness of their activities. We further show that although poor person-job fit or inadequate psychological contracts can motivate such misbehavior, cynicism dominates as a reason for why overqualified employees engage in counterproductive work behaviors.

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Why do overqualified incumbents deviate? Examining multiple mediators.

Attitudes toward surveys were conceptualized as having two relatively independent components: feelings about the act of completing a survey, called survey enjoyment, and perceptions of the value of survey research, called survey value. After developing a psychometrically sound measure, the authors examined how the measure related to respondent behaviors that directly impact the quality and quantity of data collected in surveys. With the exception of a response distortion index, survey enjoyment was generally related to all the respondent behaviors studied (item response rates, following directions, volunteering to participate in other survey research, timeliness of a response to a survey request, and willingness to participate in additional survey research). Survey value was related to item response rates, following directions, and willingness to participate in additional survey research. A respondent motivation and intentions explanation is provided. Although the identified effect sizes were generally sm...

Douglas C. Maynard

Papers

Underemployment, job attitudes, and turnover intentions

Effects of Objective and Subjective Task Complexity on Performance

Perceived overqualification and withdrawal behaviours: Examining the roles of job attitudes and work values

Why do overqualified incumbents deviate? Examining multiple mediators.

Attitudes toward Surveys: Development of a Measure and Its Relationship to Respondent Behavior