Verified Document

Job Creation And Government Term Paper

Job Creation and Government JOB CREATION SHOULD NOT BE GOVERNMENT'S RESPONSIBILITY

Government in all capitalist nations is actually responsible for efficient allocation and diversion of resources and not for creation of employment opportunities for the people. Capitalist countries thrive on the principle of entrepreneurship and in such countries corporations literally control all economic activity. For this reason, it is impractical to expect the government to intervene when employment opportunities are scarce. Instead government's intervention must be limited to efficient allocation of economic resources and regulation of financial markets through fiscal measures during times of economic slow-down. But under no circumstances, should the government be expected to raise employment level in the country...

It has been noticed that when government is assigned the task of job creation, it does so inefficiently usually hiring more people than needed for various government sponsored projects. During the Great Depression for example, government decided to initiate a program for job creation known as WPA but it was noticed that this program was a major failure when it came to creation of real wealth. This is a very interesting example of why and how government fails to generate real jobs and explains why this task must only be handled by the corporate sector. Every time government decides to increase employment level, it announces allocation of funds for various projects. Immediately governmental agencies embark on different kinds of projects, most of which are either not needed or are badly planned. The result is wastage of capital and labor as more people than needed are hired and their skills…

Sources used in this document:
References

Milton Friedman, "Can Government Make Jobs?" Newsweek, December 13, 1982, p. 122.
Cite this Document:
Copy Bibliography Citation

Related Documents

Job Creation and Other Economic Myths
Words: 2931 Length: 10 Document Type: Term Paper

Economics There is a belief, common to economists, that government intervention is necessary to assist economic growth. The current belief that the reason that the economy is faltering is that job growth has faltered, has not altered this perception, even though it probably should have. Recently both the Bush and Obama administrations have tried many different means of stimulating the economy (much as Franklin Delano Roosevelt did during the "Great Depression"),

Bush Administration - Job Creation the Bush
Words: 513 Length: 2 Document Type: Term Paper

Bush Administration - Job Creation The Bush Administration is doing a great job of hyping a recent report published by BBC News and other media showing that the economy had added an extra 308,000 jobs in March, 2004, almost three times more than had been forecasted. However, a closer examination of the underlying numbers shows several reasons for skepticism in this supposedly rosy economic data. The old adage, "All that glitters

Job Outsourcing T Persuasive Speech Outline --
Words: 971 Length: 3 Document Type: Essay

Job Outsourcing T Persuasive Speech Outline -- Job Outsourcing The Bureau of Labor Statistics, in March 2012, reported that the country's present unemployment rate is at 8.2% where 42.5% came from the long-term unemployed or those jobless for 27 weeks or more. This rate, although decreasing from March 2010's almost 10%, can still be seen as relatively high. An issue being looked into in addressing unemployment is the outsourcing of jobs. The United

Jobs Act American Jobs Act the American
Words: 2202 Length: 6 Document Type: Essay

Jobs Act American Jobs Act The American Jobs Act of 2011 The American Jobs Act This paper advocates passage of the American Jobs Act of 2011. Two years after the Great Recession of 2007-2009 ended, unemployment continues at near record highs. As of September 2011, according to the Bureau of Labor Statistics, the unemployment rate held at 9.1%, with the number of unemployed persons at 14.0 million. The unemployment rates for adult men (8.8%),

Government Spending Throughout the Past
Words: 1765 Length: 6 Document Type: Thesis

The impact of government spending onto the overall economy is a highly debated topic, with some arguing the advantages, whilst others pointing out the limitations. A most relevant example of positive effects is given by the recent implementation of the Troubled Asset Relief Program, which has had the benefit of salvaging numerous American icons. Nonetheless, this situation was an extraordinary one and other specialists argue that in times of normal

Government Waste Management Waste Management
Words: 2777 Length: 8 Document Type: Term Paper

The role of municipalities, especially city managers, in the expansion of the cities and towns is very crucial and important in today's framework when urbanization is moving at a very rapid pace. The city managers in spite of their efforts are often incapable to perform better in terms of financial administration and efficient delivery of urban services. Consequently, the need of the hour is to strengthen and reengineer the urban

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now