|
Involuntary Unemployment
Involuntary unemployment occurs when a person is unemployed despite being willing to work at the prevailing wage. It is distinguished from voluntary unemployment, where a person chooses not to work because their reservation wage is higher than the prevailing wage. In an economy with involuntary unemployment, there is a surplus of labor at the current real wage. This occurs when there is some force that prevents the real wage rate from decreasing to the real wage rate that would equilibrate supply and demand (such as a minimum wage above the market-clearing wage). Structural unemployment is also involuntary. Economists have several theories explaining the possibility of involuntary unemployment including implicit contract theory, Disequilibrium macroeconomics, disequilibrium theory, staggered wage setting, and efficiency wages. The officially measured unemployment rate is the ratio of involuntary unemployment to the sum of involuntary unemployment and employment (the denominator of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployed
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for Work (human activity), work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * new technology, technologies and inventions * Policy, policies of the government * regulation and market (economics), market * war, civil disorder, and natural disasters Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States, the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered the beginning of the Depression. Among the countries with the most unemployed were the U.S., the United Kingdom, and Weimar Republic, Germany. The Depression was preceded by a period of industrial growth and social development known as the "Roaring Twenties". Much of the profit generated by the boom was invested in speculation, such as on the stock market, contributing to growing Wealth inequality in the United States, wealth inequality. Banks were subject to laissez-faire, minimal regulation, resulting in loose lending and wides ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forced Labour
Forced labour, or unfree labour, is any work relation, especially in modern or early modern history, in which people are employed against their will with the threat of destitution, detention, or violence, including death or other forms of extreme hardship to either themselves or members of their families. Unfree labour includes all forms of slavery, penal labour, and the corresponding institutions, such as debt slavery, serfdom, corvée and labour camps. Definition Many forms of unfree labour are also covered by the term forced labour, which is defined by the International Labour Organization (ILO) as all involuntary work or service exacted under the menace of a penalty.Andrees and Belser, "Forced labor: Coercion and exploitation in the private economy", 2009. Rienner and ILO. However, under the ILO Forced Labour Convention of 1930, the term forced or compulsory labour does not include: *"any work or service exacted in virtue of compulsory military service laws for w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Stress
Social stress is stress that stems from one's relationships with others and from the social environment in general. Based on the appraisal theory of emotion, stress arises when a person evaluates a situation as personally relevant and perceives that they do not have the resources to cope or handle the specific situation. The activation of social stress does not necessarily have to occur linked to a specific event, the mere idea that the event may occur could trigger it. This means that any element that takes a subject out of their personal and intimate environment could become a stressful experience. This situation makes them socially incompetent individuals. There are three main categories of social stressors. Life events are defined as abrupt, severe life changes that require an individual to adapt quickly (ex. sexual assault, sudden injury). Chronic strains are defined as persistent events which require an individual to make adaptations over an extended period of time (ex. d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Stigma
Stigma, originally referring to the visible marking of people considered inferior, has evolved to mean a negative perception or sense of disapproval that a society places on a group or individual based on certain characteristics such as their socioeconomic status, gender, race, religion, appearance, upbringing, origin, or health status. Social stigma can take different forms and depends on the specific time and place in which it arises. Once a person is stigmatized, they are often associated with stereotypes that lead to discrimination, marginalization, and psychological problems. This process of stigmatization not only affects the social status and behavior of stigmatized persons, but also shapes their own self-perception, which can lead to psychological problems such as depression and low self-esteem. Stigmatized people are often aware that they are perceived and treated differently, which can start at an early age. Research shows that children are aware of cultural stereotyp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Guarantee
A job guarantee is an economic policy proposal that aims to create full employment and price stability by having the state promise to hire unemployed workers as an employer of last resort (ELR). It aims to provide a sustainable solution to inflation and unemployment. The economic policy stance currently dominant around the world uses unemployment as a policy tool to control inflation. When inflation rises, the government pursues contractionary fiscal or monetary policy, with the aim of creating a buffer stock of unemployed people, reducing wage demands, and ultimately inflation. When inflationary expectations subside, expansionary policy aims to produce the opposite effect. By contrast, in a job guarantee program, a buffer stock of ''employed'' people (employed in the job guarantee program) is typically intended to provide the same protection against inflation ''without'' the social costs of unemployment, hence potentially fulfilling the dual mandate of full employment and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * new technologies and inventions * policies of the government * regulation and market * war, civil disorder, and natural disasters Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Rejection
Social rejection occurs when an individual is deliberately excluded from a social relationship or social interaction. The topic includes ''interpersonal rejection'' (or peer rejection), ''romantic rejection'', and ''familial estrangement''. A person can be rejected or shunned by individuals or an entire group of people. Furthermore, rejection can be either ''active'' by bullying, teasing, or ridiculing, or ''passive'' by ignoring a person, or giving the " silent treatment". The experience of being rejected is subjective for the recipient, and it can be perceived when it is not actually present. The word "ostracism" is also commonly used to denote a process of social exclusion (in Ancient Greece, ''ostracism'' was a form of temporary banishment following a people's vote). Although humans are social beings, some level of rejection is an inevitable part of life. Nevertheless, rejection can become a problem when it is prolonged or consistent, when the relationship is important, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Employment
Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment. Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. Full employment does not entail 100% employment-to-population ratio. For instance, workers who are "between jobs" for short periods of time as they search for better employment are not counted against full employment, as such unemployment is frictional rather than cyclical. An economy with full employment might also have unemployment or underemployment where part-time workers cannot find jobs appropriate to their skill level, as such unemployment is considered structural rather than cyclical. Full employment marks the point past which expansionary fiscal and/or monetary policy cannot reduce unemployment any further without causing inflation. Some economists define full employment somewhat differently, as the unemployment rate at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Identity (social Science)
Identity is the set of qualities, beliefs, personality traits, appearance, or expressions that characterize a person or a social group, group. Identity emerges during childhood as children start to comprehend their self-concept, and it remains a consistent aspect throughout different stages of life. Personal identity, Identity is shaped by social and cultural factors and how others perceive and acknowledge one's characteristics. The etymology of the term "identity" from the Latin noun ''identitas'' emphasizes an individual's "sameness with others". Identity encompasses various aspects such as occupational, Religion, religious, national, Ethnicity, ethnic or racial, Gender identity, gender, educational, generational, and political identities, among others. Identity serves multiple functions, acting as a "self-regulatory structure" that provides meaning, direction, and a sense of self-control. It fosters internal harmony and serves as a behavioral compass, enabling individuals to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matching Theory (economics)
In economics, search and matching theory is a mathematical framework attempting to describe the formation of mutually beneficial relationships over time. It is closely related to stable matching theory. Search and matching theory has been especially influential in labor economics, where it has been used to describe the formation of new jobs. Search and matching theory evolved from an earlier framework called 'search theory'. Where search theory studies the microeconomic decision of an individual searcher, search and matching theory studies the macroeconomic outcome when one or more types of searchers interact. It offers a way of modeling markets in which frictions prevent instantaneous adjustments of the level of economic activity. Among other applications, it has been used as a framework for studying frictional unemployment. One of the founders of search and matching theory is Dale T. Mortensen of Northwestern University. A textbook treatment of the matching approach to lab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
