Full Employment and Labor Economics

Full Employment and Labor Economics

Working to make ends meet

Viewing the current divide in wealth in the global population, there has sprung up an issue that has led to a number of consequences and impacted the labor market in a significant way. The separation of haves and have-nots has only aggravated the subject. Some people in the world have to struggle just make ends meet, while the fortunate make a fortune with having to work. The debate over this issue remains a point of contention. Some experts believe that those who are at ease when it comes to sufficient income have changed their lives on the basis of hard work and by utilization of opportunity. The economic system of the country also plays a part in creating this divide in the general population. With the advent of capitalism, the world seen the rise of a significant number of billionaires than it did in the past century (Sebastiani, 1994).

There are very clear advantages to background, upbringing, culture, 'race', circumstances, natural talent, and persistence. It is easier to make money when you're not thinking about your next meal. It is easier to make money when you're thirst is quenched. It is also easier to make money when you get to know the right people in the right business. It is easier to earn an income if you have a natural talent in an area where making money is simply easier to make (singer, artist, physical sports, entrepreneurship, etc). If you have a passion to open a series of orphanages for homeless kids - unless you have another income stream - you won't get rich anytime soon doing it. If you're nurse, you won't get rich anytime soon doing so and so on (Sebastiani, 1994).

As an example, money for me is easy to make because I have family to support me, I'm in a good environment, I was raised on reading and comprehension and my creativity was sparked at an early age. In other words, I've had and continue to have advantages. On the flip side, if you are working there's nothing stopping you from creatively figuring out how to acquire more money. It's harder for the average 3rd world country citizen to do but it is possible. Finally, it's easier for me because I've worked very hard making it easier for me. Most people are comfortable making ends meet - not because they look forward to it but because they lack the advantages I'm aware I have that I either was taught at an early age and/or learned on my own into adulthood through trial and error (Kalecki, M., & Osiatyński, J, 1990).

Do Benefits Packages Separate Work and Income?

It has been debated over a number years that some jobs in the market provide exaggerated benefits to the incumbents while others are more oriented toward how much the employees achieves. It is a commonly accepted fact that the distribution of benefits in the labor market is not ...