Chapter 9 Unemployment versus New Employment

Employment figures may be one of the most important economic data points. It is not only an incredibly valuable indicator of the economy but employment levels can be vitally critical to the sociology and political stability of a country. Two famous economists that wrote about revolutionary economic change, Karl Marx and Joseph Schumpeter, focused on prognostications of how labor markets would change over time and would eventually result in the collapse of the capitalistic structure. How and where people work has changed dramatically over time and it appears that the freedom of most capitalistic societies has created more prosperity and allowed for more flexibility and choice for labor than those economic ...

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