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Essay / Research Paper Abstract
A 10 page paper which presents the economic condition of the world based on unemployment. The paper presents the poor unemployment conditions of England, France, and Spain, with Spain's unemployment as high as 22 percent and states the effects this has on those countries ability to compete in the global marketplace and internal ills. By comparison, the paper presents the productivity of the United States, its low unemployment figures, despite downsizing and cost reductions, and how this affects its economic status on the world front. Bibliography lists 11 sources.
Page Count:
10 pages (~225 words per page)
File: D0_Unemecon.doc
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Unformatted sample text from the term paper:
Unemployment affects the economy negatively in a circular fashion. If unemployment is high, state supported entitlement programs generally increase,
but these programs have been proven to be unsustainable and a drain on economies. In the United States, with the unemployment rate hovering around five percent, "the economy is in
its seventh year of expansion--better than the 1950s and the Roaring Twenties. And this expansion should last out the 1990s, which would set a record for duration" (Baumohl 54+.).
The duration of the United States current economic success is its most surprising feature, and duration of unemployment becomes an issue in comparison to
the success of the United States when its effects are reviewed in countries such as France and Spain where joblessness is as high as twenty-two per cent and inflation as
high as twelve percent. As a result of the success of the United States, these countries are scrambling not to be left behind in the global marketplace. In
truth, if these countries do not make changes soon, they may be in danger of going bankrupt (Economist 1996, 88). Although for the
last thirty years it was felt that a certain level of unemployment was required for a healthy economy, the 1990s are proving the old theories wrong. The connection appears
to be that productivity and employment are equivalent to a solid and growing economy. Effects of Unemployment on World Economies
Unemployment in other countries, especially in third world countries, has put impossible demands on local economies. Many of the people in these countries are not interested in the new
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