Unemployment rate Essay Example for Free

Unemployment rate Essay Unemployment rate is defined as the percentage of persons looking for a job but did not secure work for the last month (3 weeks) within the labor force. In other words Unemployment rate can be referred to as the ratio of the labor force that is not engaged in employment. The person considered to be unemployed must have the requirements for the employment like be of sound heath and searching and willing to work. There are different forms of unemployment that can occur in an economy include. Cyclical unemployment results from the business cycles of economy of boom, recession, depression and recovery. During recessional times there is reduced demand for goods and services by consumers. Seasonal unemployment usually occurs in economies activities that are seasonal in nature especially agriculture like planting and harvesting season. Structural employment occurs when employees do not have the skills to match job requirements. The workers who possess the required skills may be far from the potential employing firm. Unemployment reflects unutilized resources in the economy. The total labor force indicate all the numbers of able person in the activity involved in work and that are unemployed and looking for work in the last three weeks. The labor supply is the number of individual who are willing to supply their efforts at work given the prevailing wages in the labour markets. Even at full employment level of the resources in the economy that is land, capital and labor there is a natural rate of unemployment. The potential GDP level is said to be experienced when labor is efficiently engage the resources in the production process. Usually the form of unemployment at the potential GDP is the frictional unemployment which occurs in the switching from one job to another. This is the most unavoidable form of unemployment (Stiglitz, 1985) According to Keynes inflationary pressures in an economy results as people demand hire wages (price of labor input) to enable them meet the higher cost of living. The unemployment in the economy can be understood by examining the interaction of aggregate demand (AD) and aggregate supply (AS) curves which is explained by the Keynesian economics. The aggregate demand of labour is the number of workers firms want to hire in the production process given their production technique and the market price of labour in form of wages. The Keynesian theory argues that prices and wages to sticky that the do not vary fast in the short term labor that is a duration of 3 months to 1 year that is nominal wages being the price of labor do not simultaneously respond to the quantity of labour resource supplied in the market.. However in long term beyond one year prices of resources (capital and wages for labor do change) which explains the vertical supply curve of labor. In the short term classical economists argue that since prices and wages are sticky as reflected by a horizontal aggregate supply curve (AS) The Keynesian framework provides an explanation on spending in the economy which forms the aggregate demand (AD). Monetary policy affects output and employment by through the shifting of aggregate demand curve. The AD shows the total resources for a country GDP; include in the AD are consumption (both private and public) investments to replace worn out capital and inventory ,government expenditure and the net export position of a country. The total spending curve is inversely related for price and quantity of output in the market. The spending in the economy by private consumers and public sector elicits demand for labor which human effort to produce goods and services by industries (Stiglitz, 1985). The rate of unemployment can be reduced by stimulating the economy by offering incentives to investors. The availability of cheaper sources of capital offers an avenue for economic growth. Any stimulus package by the states in the economy aims to encourage employment of resources which include labour through the private sector. The increment on private person’s disposable income and low rates of interest are conducive for businesses. A major issue at macroeconomics level is the rates of inflation and unemployment. The aggregate supply curve (AS) and AD help to analyze the equilibrium prices and quality in the economy. This analysis is said to be concluded at comparative statistics ie others factors constant and not variables are changing over time. The Phillips curve captures the inverse relationship between unemployment and inflation level. The government is forced lower interest rates on borrowed funds by investors on the face of inflationary pressures in the economy to stimulate consumer and investor borrowing and later spending to facilitate economic recovery and growth . Failure to intervene may result in a recession. Inflation reacts to curtail spending and leads to jobless as firms cannot hire workers without a market for goods. Phillips curve states that lower rates of unemployment can only be achieved at higher prices for goods in the market. The classical economists led by John S Mill. David Ricardo; Thomas Malthus and Adam Smith advocates for free enterprise and freedom in the market that is lack of state intervention in the economic activities. In the US, the bureau of labor keeps the statistics figures on unemployment (Kimberly . A 2008) for its commodities . The business cycles experienced by an economy are a result of variations in the aggregate demand (AD) not the capacity of the economy given by the resource pool of a nation (land, labor, capital and entrepreneurial capacity). The reduction in the demand of a good that uses labor leads to unemployment in the economy. Bottlenecks experienced by many US firms like the current credit crunch results in unutilized capacity in production and unemployment. Firms use labor input up to the point whereby the marginal cost of labor equals marginal revenue for the commodity being produced. In perfect markets for labor there is perfect information on available work opportunities. In reality however information asymmetry hinders communication between work seekers and employing firms. According to Adam Smith the market can promote efficiency and ensure equal prices with perfect information on the market. Efficiency means full utilization of available capacity with minimal wastages. According to George Stigler in the article Information the search for highest reward (prices) with minimal cost is usually difficult. Information seeking process involves costs. (Stiglitz 1962) According to Arthur Okun an economist in 1962 the level of unemployment in economy is used to explain the growth in a country’s gross national product (GNP). Decline in level of unemployment tend to be correlated with a rise in a country GNP. This shows an improvement in economic well being of a nation is all sectors factored in the national accounts.Using World War II (1948) period accounts Okun found out that 3. 2% increase in GNP was accompanied by a percentage unit decline in unemployment. (Howland F et al 1980) References Romer C. D (2004) Business Cycles. Liberty Library Economics Article. http://www. econlib. org/library/Enc/BusinessCycles. html Stiglitz J E (1985) Information and Economic Analysis: A Perspective Economic Journal 95, supplement: Conference Papers: 21–41. Howland F and Barrelo H (1980). There are Two Okun’s Law Relationship Between Output and Unemployment. Wabash College article

Home School Or School House :: essays research papers fc

Schoolhouse or Home School?   Ã‚  Ã‚  Ã‚  Ã‚  What do George Washington and the Hanson brothers have in common? Do you give up? Well, the answer is that both of them were educated in their homes. Queen Elizabeth, Thomas Edison, and Theodore Roosevelt were also educated at home. According to the Home Education Research Institute, 1.5 million students are staying home for class today. This number is five times more than ten years ago (Kantrow and Wingert 66). This trend leads to many questions. Does home school education work? Do students receive a proper education? How does a home school student’s education compare to that of public school student? Does home schooling isolate a child socially? These questions are concerns of parents, educators, and politicians alike. The future of America rests on the academic and social education of our youth, and home school education should be considered as an effective alternative to public school education.   Ã‚  Ã‚  Ã‚  Ã‚  In the past, parents mainly chose to educate their children at home because of religious preference. These parents viewed the public school system as a source of negative influence on children. Violence, sex, drugs, and peer pressure were influences these parents sought to avoid. However, today parents have other reasons for home school education, which primarily all point to a lackluster public school system. Other reasons include a desire to build a strong family closeness, safety, and a handful of parents chose home school for their children because of special needs such as disabilities or special talents. However, no matter how good the reasons, the home school education system must prove to be an acceptable alternative to public schools.   Ã‚  Ã‚  Ã‚  Ã‚  There are many advantages to giving a student a home school education. First, parents can make direct decisions concerning what their children are taught. According to the Home School Statistics and Reports in 1997, written by founder and President Dr. Brian D. Ray, seventy-one percent of the parents who educate their children hand pick the curriculum from a variety of books, videos, and educational manuals. Another twenty-three percent order entire cirriculum packages (Ray 14). With the technology of today, parents have an unlimited source for information via the Internet, which can be easily integrated in home school education. The study also shows the education level of the parent supervising and administering the curriculum has little or no effect on the quality of education received by a student. Home-educated students whose parents did not have college degrees scored equally high on tests compared to students whose parents had college degrees(Ray 56).

Plato and Socrates Paper

Writing Assignment #1 Philosophy consists of an intellectual battle of differing opinions between the ideal reality and factual thinking. Our own opinions are a way in which were explaining physical or fantastical terms. This intellectual battle rivals between Plato’s philosophy, which consists of a more abstract thinking process versus more scientific philosophers as Thales, who was a more practical thinker attempting to disentangle science and magic, and dared to think about the world without first thinking of God. Osborne, p 5) If you look deeper into this battle you see how it deals with the function of human beings. Plato and Socrates saw many of these scientific thinkers and Sophists as being scatter-brained because of their lack of aesthetic order. The Sophists were more interested in man himself and how he behaved. In this case the basic mechanics in man doing things for himself. While Socrates was left as the opponent to this Sophist way of thinking, he was more conce rned with morality, discovering the just, true, and good.Philosophy to Socrates was more then just a profession of what man can do, rather a way of life in examining ones self. By even using his method of dialect and use of irony Socrates would expose false claims of wisdom to move towards knowledge of man’s own nature, only convinced that it could be achieved through hard work. Like Socrates, Plato’s philosophy had the same intake that man had more to think about then just himself, rather the aim to use reasoning in thinking for themselves. Plato discusses how ideas are real, and the particular is only apparent through his idea about the word ‘horse’.Plato is referring to when said something, as he said a horse, does not necessarily mean the physical animal of a horse, but more then that, more or less the idea of a horse through space and time. This theory of ideas of Plato apparently caused many philosophers to be come scatter-brained, in the sense that at that time many people could not look beyond the physical idea or reality of something or someone. Now though, philosophers like Plato or Socrates for instance, are looking beyond the physical reality and opening the doors to looking at a deeper meaning of life and man himself.We are starting to look at patterns of thought even beyond the physical studies, a frustration with our minds, because we are so dependent on physical studies in the physical world. Everything changes in time and the physical does not allow us to have a universal, or consistency, even with the way we recollect experiences. Knowledge is remembering or anamnesis, the soul or mind has passed through a series of embodied and disembodied states, and the knowledge from these previous cycles needs merely to be awakened. Osborne, p 14) Plato insists that perception and experiences retain a realm of their own. Meaning, if you have an experience in the ideal world then you bring that experience back into the physical real world of objects, and that physical world of objects changes over time. Plato distinguished the difference between appearance and reality in his famous simile of the cave; where a man was prisoner in a cave and saw reality as what he saw in the cave, the furthest being the shadows on the walls.Once he escapes though, he sees the real world beyond the world he saw within the shadows of the caves. Although after returning back to the cave, he sees that he is more stupid then before. That man after being exposed to the real world, beyond what he knew around him, was then overwhelmed by his surroundings, then knowing he had to revert back to his simple reality world of the cave. In order to fully understand knowledge and appearances, Plato improved the theory of hypothesis, showing that if a fact didn’t square with a hypothesis then a new hypothesis was needed. Osborne, p 15) There was always that constant search for a more general hypothesis, ultimately striving for univers al truth, which explains the good. In the Republic, Plato outlines what he believes as his ideal city-state; taking three classes: the elite guardians, the soldiers, and the masses, and three structures: monarchy, oligarchy, and democracy, and puts an emphasis on social mobility amongst these groups. The individual soul is divided into three, which this structure repeats itself in the state. Osborne, p 15) Plato takes his knowledge of the structure and classes within society and applies it to the individual. In order to show where in his mind people stood based on their standing in society, regarding reason, courage, and appetites. Through Plato’s philosophy of moving towards the abstract ideal world of thought, he attempted to solve the issue of being scatter-brained, or lack of aesthetic order. By opening up the door to looking deeper amongst the physical reality of what we know to be and into a whole new dimension into an ideal world utside of space and time, Plato gives u s the ability to enable ourselves to think in the light of reason. Solving the scatter-brained lack of aesthetic order, bringing each one of us to harmony. Bibliography – Osborne, Richard, and Ralph Edney. Philosophy for Beginners. New York: Writers and Readers Pub. , 1992. Print. ——————————————– [ 1 ]. Osborne, Richard, Philosophy for Beginners, page 5. [ 2 ]. Osborne, Richard, Philosophy for Beginners, page 14. [ 3 ]. Osborne, Richard, Philosophy for Beginners, page 15. [ 4 ]. Osborne, Richard, Philosophy for Beginners, page 15.

Human Relations Theories Knowing Yourself - 1417 Words

Human Relations Theories: Knowing Yourself Human relation theories communicated in this course have essential relevance and substance. Expanded themes written on self-disclosure, self-awareness and self-acceptance have shown how they can be important in one’s personal and professional life. However, unless entire populations are taught and choose to consciously apply these strategies in their interactions, an individual’s singular effort to implement is futile. It is highly unrealistic that people are motivated enough to take the necessary time and effort to learn and practice many of these ideals. While I can state that I do agree with many of the philosophies that have been noted, I do not feel that they are an ongoing functional asset to my life at this point in time. Self-Disclosure According to the writings of Reece (2014), letting myself be known by others is an area of unveiling I need to enhance. In the past, I have disclosed to others my wants and feelings, but these thoughts have not been important or made a difference to them. I am content in keeping relationships at a distance and having vague circumstantial conversations. One becomes vulnerable when they trust others. Because of past occurrences from the ill use of my personal data for opportuneness and disillusionments from professed confidences, I choose not to take this risk. Admittedly, keeping my feelings and thoughts bottled-up does produce some stress (Reece, 2014, p.165). However, dissipation ofShow MoreRelatedPhilosophy Essay1433 Words   |  6 Pagestype of knowledge is propter quid, which ask the question why or how. In this paper, I will demonstrate how Socrates, Hume and Aristotle, three well known philosophers, would explain how I acquired this knowledge in relation to the principles of right and wrong. Socrates is the first philosopher, I will discuss. 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