The Dilemma of Full Employment: Choosing Between Stability and Economic Growth
The age-old debate between full employment and higher national income has long intrigued economists and policymakers alike. My preference lies with full employment coupled with higher national income, an outcome that could be realized through modifying our public school curriculum to include small business principles.
Full Employment: An Impractical Ideal
Full employment, as historically defined, is an unattainable ideal. There are numerous reasons why achieving total employment is practically unfeasible. Medical conditions that render individuals unable to work, personal choices such as staying home to raise children, and voluntary retirement among others, contribute to the impossibility of statistical full employment.
Teaching Small Business Principles from a Young Age
To achieve a balance between full employment and higher national income, it is essential to integrate small business principles into all public school curricula. Starting from primary school and continuing through secondary education, this approach can equip young individuals with the necessary skills and awareness to navigate the complex global market. This is not to create a niche for any specific race or class, but to provide equal opportunity for all children to succeed.
The Dilemma of Mutual Exclusivity
While full employment with lower national income might seem appealing in certain economic contexts, it often invites government intervention and wealth redistribution. I vehemently oppose such measures as they infringe on personal freedom and economic autonomy.
A Historical Perspective on Economic Balance
The balance between unemployment and economic growth has been carefully maintained through various means. Currently, a higher rate of unemployment is accepted as a necessary measure to manage inflation. However, recent economic restructuring, driven by Republicans, has altered corporate laws without the explicit consent of the American public. This has led to a system where workers are exploited for the benefit of capital interests, disregarding the broader interests of citizens.
Ethical Concerns with Exploitation
The ethical implications of creating low-paying jobs merely to avoid unemployment while simultaneously benefiting other stakeholders are deeply concerning. This shift in values undermines the very notion of a democratic economic system designed to protect citizens' interests. By allowing corporations to act without the constraints of defining laws, the core principles of capitalism are being compromised.
Conclusion
The debate between full employment and higher national income is complex and multifaceted. While full employment with slightly lower national income invites governmental intervention, the alternatives of exploiting labor and compromising ethical standards are unacceptable. Integrating small business principles into our public education system is a potential pathway to a more balanced economic future.
The path to this balanced approach lies in education, ethical corporate practices, and informed public discourse. By choosing to educate our children and foster a responsible business environment, we can achieve a system that promotes both economic growth and full employment.