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ERIC Number: ED240387
Record Type: Non-Journal
Publication Date: 1984
Pages: 108
Abstractor: N/A
Reference Count: N/A
A Society Based on Work. Information Series No. 270.
Carnevale, Anthony Patrick
American society is based on work. The industrial revolution exposed a growing proportion of the population to unemployment, underemployment, and dislocation. Early theoreticians believed that unemployment was a temporary labor market imbalance that would correct itself with downward wage adjustments. John Maynard Keynes, on the other hand, argued that unemployment is involuntary and results from government policies that can be changed. The Employment Act of 1946 legislated the nation's intent to achieve full employment, an ideal still held. However, the only way to achieve full employment is through increased spending that fuels inflation. To date, the principal strategy for fighting inflation has been economic restraint, which results in ever-higher levels of unemployment. The strategy proposed to correct the situation emphasizes policies that conform to the actual operation of the labor market, with a full range of anti-inflationary policies in place before attempts are made to reach the 8 percent unemployment barrier. Probably the best device above the 6 percent unemployment rate is a temporary marginal wage subsidy to create jobs. Below the 6 percent rate, strategies to improve productivity in the lower range of jobs are appropriate. To provide the training needed to increase productivity, American educational systems will have to do a better job of making sure youth acquire a high level of basic skills. However, overall economic expansion is a necessity if unemployment is to be reduced. (KC)
National Center Publications, National Center for Research in Vocational Education, 1960 Kenny Road, Columbus, OH 43210 (IN 270--$8.75).
Publication Type: Information Analyses; Opinion Papers
Education Level: N/A
Audience: Policymakers
Language: English
Sponsor: Office of Vocational and Adult Education (ED), Washington, DC.
Authoring Institution: Ohio State Univ., Columbus. National Center for Research in Vocational Education.
Identifiers - Location: United States