The New Industrial Revolution: The Optimal Choice for Flexible Work Companies

Three times more than money: generativity, relational goods and life satisfaction

“…In this context, the exchange of gifts (Akerlof, 1982) creates trust and trustworthiness by generating that social capital that makes cooperation the virtuous equilibrium overcoming coordination failures (Becchetti et al 2012). An important empirical nding from this point of view indicates that rms with higher quality relationships have 21,000 euros of value added per employee, all other relevant factors being equal (Becchetti et al 2022) and better risk-adjusted returns (Edmans, 2011).…”

“…Under the hypothesis of direct causality, the results of the paper have very relevant policy implications in several elds. In the labour market, they help to understand the importance and impact on subjective wellbeing of work-life balance policies and probably offer an explanation for the phenomena of "great resignation" after the pandemic in which many times workers have decided to change jobs with the motivation of not having a good offer in terms of hybrid work which, with a mix of face-to-face and remote work, allows progress in work-life balance (Becchetti et al 2022). Our ndings have also important implications in terms of welfare policies indicating how generative and relational welfare should be the frontier for the future.…”