INTRODUCTION The Keynesian School of economic thought, was developed in the 1930s by the British economist John Maynard Keynes to understand the Great Depression. The scale of Keynesian theory span across the Atlantic in the post war decades, after its adoption in war-time Britain for macroeconomic management. Comprised of various macroeconomic theories, such as how … Continue reading Would Keynesian policies be a more viable method to deal with the economic crisis?
This article will cover the economics of job separation and job finding and how to calculate them. If job finding is instant then f = 1, and the natural rate of unemployment would be near zero, if f < 1, it is because of job search and wage rigidity. Firstly, some economic terms to know … Continue reading Job Separation vs Job Finding
In this article we will cover unemployment and how it is affected by monetary policy. Firstly, any government policy has a level of uncertainty surrounding it. This can have an influence on the possibility of job seekers finding a job or a firm keeping on many employees. During such an uncertain ruling on a tax … Continue reading Monetary Policy & Unemployment
A textbook definition of macroeconomics says that “[it] is the study of the economy as a whole, including growth in incomes, changes in prices, and the rate of unemployment.” (Mankiw, 2010) Extending over global, regional and national economies. Economists advise on policies for the government regarding important economic indicators. Macroeconomics though can often cause mistakes … Continue reading What is Macroeconomics?
The view, which boosts spending on new factories that can hire additional workers, assumes unemployment is the main issue and uses short-run economic stimulus to counter for the lack in private savings. Why not boost employments further, and take the advice of John Maynard Keynes and Paul Krugman and employ as many people in the … Continue reading Central Banks Interest For Resolving Unemployment
Politicians say unemployment is due to the lack of economic stimulus spending. Now in the short-run the statistics can prove that this is the case, as people and businesses can afford to boost their spending and hire additional workers to fill their newly built factories, then yes it does reduce unemployment. However, the real case … Continue reading $pending > $aving = Unemployment
Unemployment is when a job seeker is refused employment to a preferred job, or when the job seeker cannot coordinate to an employer willing to hire them at the asked wage rate. Therefore, the unemployed coordinate and make adjustments to their choice of occupation or the amount of wage rate they and their employer are … Continue reading Unemployment Is Always Voluntary In The Unhampered Economy