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Unemployment, a major menace to the society has prevailed through the times and the problem has become more chronic and serious at the present moment.Most of the countries irrespective of the fact whether they are developing or developed are a victim of unemployment…
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Unemployment in the European nations of Italy, Spain, Portugal and Greece
The thing that makes unemployment most dangerous is that it directly affects the growth of a nation. Indefatigably high levels of unemployment have become a common scenario throughout most of the European Union. Although, it contrasts considerably with the comparatively low unemployment levels in neighboring developed nations, especially in those of the United States and Japan. Inspite of the fact that high unemployment rate is rendered as a common problem in European unions, there are significant variations in the unemployment rates of each of its members1. Despite being amongst the developed European countries, unemployment rate in Spain, Italy, Portugal, and Greece is rising at a staggering rate. The Problem of Unemployment Unemployment in Spain The contrasting difference in the unemployment rate of the European nations was essentially recognized in the unemployment rate of Spain. In the year of March 2004, it was evidenced that the unemployment rate in Luxemburg was at a low of 4.0%, while in Spain, it reached a mammoth 11.1%. It is significant that there are other factors idiosyncratic to each of those nations with soaring unemployment rate results to this problem.
This phenomenon is essentially true in the case of Spain, as persistently high level of unemployment has been recorded there. The scenario in Spain was once so dismal that unemployment rate recorded was twice the average of the European nation’s unemployment rate. High unemployment rate is currently a problem that is encountered by all almost all the major nations of the European Union. ... condition is so dismal, that it is the high level of unemployment that essentially distinguishes the economies of the European member countries with that of the United States. The situation is problematic as, underutilization of resources takes place due to the low level of unemployment. This simultaneously results in decline of the total production of goods that could have been achieved in a stable employment situation. This instigates the citizen of Spain to migrate into other countries if they are unable to obtain proper employment conditions in their native country. It is a general phenomenon that people want to allocate to work places where they get higher wages for their work. Acknowledging the reason of unemployment from a neo classical perspective, several key elements can be identified. The primary among them is the actual factors related to job search. The job market is never stable, as the frequency of workers changing jobs is essentially high. Although the problem takes a larger shape when this changes in job takes a long time due to heterogeneity of the work force and job openings. This implies that there is no significant balance between the labor supply and the labor absorption in the market. This condition is due to the lack of job openings, lack of proper information about employment, and the cost of retraining that many workers are unable to cope up with. Another factor that contributes to low employment is rigidity in the wages of workers, due to labor legislation and significant influence of labor unions. The wage rigidity’s effect is essentially noted when the prices of goods fall due to the decrease in demand for products, which simultaneously decreases the marginal productivity of workers. In this scenario, due to rigidness of labor supply in
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The EU makes legislation that has to be implemented by twenty – seven Member States. Despite the fact that ministers of the United Kingdom actively participate in the discussions stage and in decision making, the fact remains that all the Member States collectively arrive at the final decision. The European Economic Community was founded by the Treaty of Rome on the 25th of March, 1957. Its preamble states that a major goal or the EEC was to abolish international trade restrictions adopting a suitable commercial policy. However, this was never achieved, because, the purpose of forming the EEC was to empower the Member States against its economic rivals who did not belong to the EEC. An extreme example of such protection...
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In contrast to other writers of his generation, Tolstoy was connected with noble families of the Russian aristocracy, who had brilliant French pronunciation and manners. At the same time, he was a person full of antagonism. When Leo was nine he became an orphan. Tolstoy’s upbringing was in the hands of Madam Egorsky. Having lost the parents Tolstoy became a rather difficult child. He was a naughty boy with unexpected deeds, thoughts, ideas, but very kind-hearted (Derrick Leon, 1944, p. 54).
In contrast to other writers of his generation, Tolstoy was connected with noble families of the Russian aristocracy, who had brilliant French pronunciation and manners. At the same time, he was a person full of antagonism. Whe...
Nevertheless, whatever the reasons may be, the state of unemployment is fatal for any person if he is actively seeking employment. Any individual at any stage can be bitten by this worm of unemployment. Unemployment also gives an indication of how the economy of a country is performing, higher the number of unemployed people in the economy more is the dipping status of the economic sector. So hereby, we see that the country’s unemployment status has an inverse relationship with economic growth. The economic growth of a country is governed by inflation in the economy, which in turn is governed by the money supply in the economy.
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It is often used to compare the economic performance to aid as a prediction tool and to analyze the business cycles and the recessive and expansive economic performances within them. This further aid economic and fiscal policy formulation of the government and is also used to analyze the consumer behavior and the economic phenomena involved. (Heakal, R. 2008).These figures can be a benchmark to compare economies of different nations and the economic prediction process is also made possible.
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Standardization involves the formulation and implementation of technical standards essential in maximizing and enhancing safety, repeatability, quality, compatibility, and interoperability (Shailaja 319). For decades, the need for a smooth flow of commerce and trade led to the standardization of goods and services. The process of standardization entails the development, formulation, and relevance of established standards. It involves the incorporation of scientific research and the utilization of experiences to establish the required and precise technical requirements for a particular aspect of innovation and technology. The result of the study and experience is a “standard.” A standard is a document formulated by...
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