Archive | Full Employment

What is Meant by Full Employment? | Economics

Get the answer of: What is Meant by Full Employment? Unemployment is a social evil. From the economic point of view it represents a waste of society's scarce (and valuable) resources. It thus lends to a permanent loss of society's potential output (GNP). In other words, if there is unemployment, society's actual output or GNP is less than society's potential [...]

By Nipun S|2017-01-13T05:55:18+05:30January 13, 2017|Full Employment|Comments Off

Full Employment: Views of Renowned Economist on Full Employment

Read this article to learn about the different views given by renowned economist on full employment! Classical Views on Full Employment: Fear of unemployment, described as "the shadow side of progress", constantly haunts the working classes. The classical economic theory rests on the assumption of full employment of labour and other resources within an economy. According to classicals the normal [...]

By M. Agarwal|2015-08-10T12:27:05+05:30July 30, 2015|Full Employment|Comments Off