Incoming Labor-Product Society and EU Regional Policy

This contribute moves from a tentative of labor product taxonomy as opposed to mainstream labor factor, or human capital theory of production. We assume that labor is a product in all those cases where the trade-off between labor and capital blurs: in the case of high and medium-high technology workers, social economy enterprises, self-employment, “social-ethic” and no profit activities, but also in the case of smart entrepreneurship, especially in high and medium high technological sectors, such us start up enterprises. Aim of this paper is to improve analyses and implications of the changes in the EU NUTS 1 regions due to the diffusion of the information/knowledge society. We enlarge the Ex-post Myopic Convergence Model (EMCM) explaining the relative rate of productivity of EU NUTS1 regions, with the inclusion of a new exogenous variable, the share of labor-product on total employment (HTC/Total employment). Coexisting labor product-labor factor interaction in time and by regions, a Labor product-labor factor Interaction Model (LIM) has been specified and quantified starting from the Stone-Ramsey principle. The range of a possible future evolution of the interregional labor division between information technology and digital divide concludes the work.