The subject of theory about employment and unemployment is one of great debate within the economic intelligentsia. The common question is as follows: What theory or facts about employment and unemployment confuse economists most? The answer to this question will reveal much about how the economics profession thinks about the subject. Two different schools of thought dominate the economic debate, and they do not often get along. The classical school of thought about the economic situation assumes that supply and demand curves reflect only price changes, with no effect on quality.
Theory About Employment
The modern school of economic theory, on the other hand, believes that there are quality issues in the economy, and theory about employment and unemployment cannot deal with them. They, therefore, see the necessity of academic literature devoted to understanding quality issues and their effects on the economy. In this article, I want to outline some of the main theoretical aspects of the economic theory about employment and unemployment that confound modern economists.
According to the modern school of economic thought about employment and unemployment, the only real theory in economics is the theory of supply and demand, and it can be called “the public administration” theory. Modern economists interpret this theory about employment and unemployment in a highly abstract manner, and they assume that it is possible to perfectly predict the behavior of the market economy. But if you study this theory about employment and unemployment in the actual world, you soon realize that it is totally erroneous. The reason why this error is very widespread among modern economists is that they have studied the theory about employment and unemployment in the context of the free market economy, and they fail to realize that the government plays a major role in determining the level of employment.
If you take the time to really look at what the facts tell us about employment and its trends, it becomes clear that the theory about employment does not make any sense at all. Less than two percent of the workforce are paid less than the official minimum wage, and more than half of the workforce are paid more than the official minimum wage. So the theory about employment does not make any sense at all. It is also widely discussed by economists, and yet less than two percent of the workforce actually participate in this discussion.
There is another theory about employment that is widely accepted by economists, and that is about online learning. Online learning is popular, because it allows people to get the same education that they could receive at traditional universities, but they can also get this education from the convenience of their own home. This means that they are not restricted by the geographical boundaries or the time constraints that impede them from going to a traditional university campus. This type of learning has become extremely popular over the last decade, and many companies have started offering paid online courses. You can easily find out whether these paid online courses are genuine or not by searching for the accredited accreditation status. The Accrediting Bureau of Education in North America is the body that does the verification of the authenticity of online degrees and online training.
Another common question that economists ask is that fact or theory about employment and salaries confuses them the most. As it turns out, the confusion is not with the theory itself, but with the question itself. The question which most economists believe is that the minimum wage does not cause unemployment. However, the confusion is with the fact that unemployment causes people to search for jobs.
The third common question that economists ask is that fact or theory about employment and salaries confuses them the most. That theory is that immigration reduces the supply of labor. The supply of labor can be reduced by immigration but I submit to you that if there is an increase in the number of workers coming to the United States, whether legal or illegal, then we would see an increase in the demand for labor as well. You see, supply and demand work both ways.
Finally, the last common question that economists ask is that fact or theory about employment and salaries confuses them the most. This theory is that immigration reduces the wages of native workers. Of course, if immigrants bring their skills and experience to the United States, then they will certainly increase the wages of everyone in the population. I submit to you that an increase in the supply of labor also increases the demand for it. As it turns out, the research on this question is not conclusive at this point in time, but the overwhelming majority of the economists believe that an increase in the supply of labor also increases the wages of everyone in the population.