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Essay / Research Paper Abstract
This 3 page paper outlines and explains the concepts in chapter two of Jacob De Rooy's book, What Everyone Needs to Know about Money. Bibliography lists 0 sources.
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3 pages (~225 words per page)
File: D0_MBderooy.rtf
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speaking Greek. Jacob De Rooy in his easy to understand book, Economic Literacy: What everyone needs to know about money, illustrates, in Chapter Two, why the employment situation and the
way that business has been done in the past is not the way that business can continue in the future. Employment/Umemployment In the first series
of articles De Rooy talks about unemployment and employment as two sides of the same economic coin. While the economy, itself, seems to be doing better, he states that the
soft spot is job creation. Unemployment rates are still a few percentage points high, but he expects that if trends hold that this will drop to within normal and acceptable
levels. However, the number of jobless workers is still high, even though the unemployment rate has dropped. This might seem confusing at first, but when one begins to understand the
human element involved, then the presence of these numbers makes sense. De Rooy states that the unemployment rate only seems to have improved because what really happened was that unemployed
workers simply became discouraged and discontinued their job search. According to the statistics, then, they did not count. What is needed, he suggests, are not
only jobs, but new jobs. These would be jobs that arise from new industries and technologies. When this happens a type of ripple effect occurs. More people with jobs means
more people with money to spend in the marketplace. This spurs production. Changing the Workplace The workplace has changed, according to De Rooy. Many businesses
in order to compete in a slower economy became aggressive in implementing more efficient technologies. This allowed them to downsize and reduce human labor needs. Thus, the workplace did not
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