Labor Markets and Social Security: Wage Costs, Social

Format: Hardcover

Language: English

Format: PDF / Kindle / ePub

Size: 13.94 MB

Downloadable formats: PDF

Capital was invested in areas where rates of return were low. The current unemployment rate in the United States is 7.6%, meaning an estimated 11.8 million people are without full-time jobs. The function of the proletariat within the capitalist system is to provide a " reserve army of labour " that creates downward pressure on wages. Unemployment is one of the main mechanisms that can affect GDP. While there have been many legitimate reasons for some tension to exist between firms and workers, minimum wage policies set them in unnecessary opposition to one another over employment contracts, which are by nature cooperative and mutually beneficial.

Pages: 389

Publisher: Springer-Verlag Telos (January 1998)

ISBN: 3540637842

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