How America Can Bring the Japanese Economic Miracle Stateside
June 5, 2023
Japan’s post-World War II prosperity was so remarkable that historians refer to it as an “economic miracle.” By 1990, through a combination of corporate initiative,…
Chief Economist, Award-Winning Author
“The path to a better society must be paved by the business community” is the powerful message that Jeff Korzenik shares with audiences around the U.S. Korzenik is an unexpected spokesman for a truly inclusive economy, inspiring business, nonprofit, and government leaders to consider “second-chance hiring” by showing how people with criminal records, recovered addicts, and the long-term unemployed can be not just adequate, but actually superior employees. His presentations are rooted in the pragmatic experience of pioneering CEOs and feature numerous examples of what works—and what fails. With a reputation for clarifying complex economic and policy issues, Korzenik has delivered his message to hundreds of audiences around the country.
Why hiring people with criminal records, done right, is business, not charity. Based on the lessons learned from studying pioneering employers across the
country, Jeff shows how people who are eager to prove they are more than their worst mistakes can be highly engaged and loyal employees. He demonstrates why not just every DEI initiative must consider “second chance hiring,” but this can be a vital addition in any company’s talent strategy.
Every developed economy in the world is struggling with declining population growth and the subsequent concerns over labor needs and growth. The pragmatic policymakers and business leaders of Japan have already faced these challenges — and have devised solutions that can be emulated in the U.S. While Japan’s population shrunk, the country’s workforce grew, with lessons for every U.S. business leader and policymaker.
Justice reform efforts in the U.S. have met with substantial backlash and sometimes limited success. A new approach is needed, one that brings an often overlooked stakeholder into the policy arena — the business community. In a world filled with tradeoffs and unintended negative consequences, employment–friendly justice reform offers a win–win–win: more justice, safer and prosperous communities.
Author Jeff Korzenik addresses critical issues for American prosperity: solving our talent shortage and reducing economic barriers. The chief economist for one of the nation’s largest commercial banks, for more than 30 years, Jeff has been known in the financial services industry for the clarity and originality he brings to complex challenges. He has delighted audiences by connecting economic lessons to everyday life, through offering nontraditional but accurate insights, and yes, even using humor. A regular guest on CNBC, Fox Business News, and Bloomberg TV, Jeff’s insights into the economy, markets, manufacturing, and the workforce are frequently cited in the financial and business press with articles published in the Harvard Business Review, Newsweek, Forbes and many other outlets. The Council on Criminal Justice elected him to membership on the Council in recognition of his groundbreaking work on the intersection of the justice system and the labor market. Jeff’s award-winning book “Untapped Talent” (HarperCollins Leadership, April ’21) not only predicted the American labor shortage, but offers important solutions developed by pioneering business leaders.
Jeff’s writings on economics and public policy have been published in Barron’s, Forbes, the Chicago Tribune, and other periodicals. He has testified on Capitol Hill as an expert witness on the use of commodity indexes by pensions and other institutional investors. A leading expert on private sector models and the re-employment of people with criminal records, Jeff is a sought-after public speaker; he has presented at the Detroit Economic Club, the Executives Club of Chicago, for Los Angeles County’s Fair Change Hiring Initiative, and at national conferences of the American Bankers Association, the AICPA, SHRM and for numerous other organizations and universities around the country. With over fifty speaking engagements each year, Jeff is noted for his ability to distill complex topics to common sense and approachable arguments. Jeff is a graduate of Princeton University, with an A.B. in Economics and a Certificate of Proficiency in Near Eastern Studies.
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