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THE PROBLEM OF UNEMPLOYMENT

THE PROBLEM OF UNEMPLOYMENT The aim of this paper is to address the problem of unemployment. Economists generally agree that a zero rate of unemployment is not only unattainable but also undesirable within capitalism. This is problematic because, as it will be shown, unemployment has adverse effects on both individuals and societies. Assuming that the primary aim of economics is to improve people’s lives, it behooves us to find a solution to the problem of unemployment. Two solutions will be offered. The first works within the confines of the capitalist system – it requires instituting welfare policies that alleviate the adverse effects of unemployment. The second involves a paradigm change – it requires replacing capitalism with an alternative economic system that is consistent with a zero rate of unemployment. JEL Classification: E24, J21, J64, M51, Q52 Keywords: unemployment, capitalism, class antagonism, health care, economic democracy, anarchism http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics, Management, and Financial Markets Addleton Academic Publishers

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Publisher
Addleton Academic Publishers
Copyright
© 2009 Addleton Academic Publishers
ISSN
1842-3191
eISSN
1938-212X
Publisher site
See Article on Publisher Site

Abstract

The aim of this paper is to address the problem of unemployment. Economists generally agree that a zero rate of unemployment is not only unattainable but also undesirable within capitalism. This is problematic because, as it will be shown, unemployment has adverse effects on both individuals and societies. Assuming that the primary aim of economics is to improve people’s lives, it behooves us to find a solution to the problem of unemployment. Two solutions will be offered. The first works within the confines of the capitalist system – it requires instituting welfare policies that alleviate the adverse effects of unemployment. The second involves a paradigm change – it requires replacing capitalism with an alternative economic system that is consistent with a zero rate of unemployment. JEL Classification: E24, J21, J64, M51, Q52 Keywords: unemployment, capitalism, class antagonism, health care, economic democracy, anarchism

Journal

Economics, Management, and Financial MarketsAddleton Academic Publishers

Published: Jan 1, 2014

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