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Macro Economics Wall Street Journal Article - Essay Example

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It was also intended to lower incarceration and rescue destitute lives. Before execution, economists were skeptical about its real economic…
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Macro Economics Wall Street Journal Article
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Macro Economics: Wall Street Journal Work Cited  Da Costa, Pedro, “Summer Jobs Program for Poor Youth Saved Lives, Lowered Incarceration in NYC,” The Wall Street Journal, 24 Apr. 2014, Online.
The Summer Youth Program (SYP) was a plan by the American government to improve the future income of the youths, who are underprivileged. It was also intended to lower incarceration and rescue destitute lives. Before execution, economists were skeptical about its real economic value. Author Alexander Gelber assessed the effectiveness of the Summer Youth Program in New York City, together with two co-authors. They obtained the following key findings revealing that the benefits exceed the costs of such programs. By around October 2014, about eighty-six persons had benefited significantly from the SYP program, which lasted for four years; between 2005 and 2008. It could not however be fully associated with higher future income or enrollment in schools (Da Costa ‘Wall Street Journal’). The lives and welfare of these disadvantaged groups in America were however changed for the better.
The macroeconomic value of the ‘Summer Jobs Program for the Poor Youth’ is closely linked to the economic theories of Business Cycles and Unemployment. Investing in the summer jobs programs for the disadvantaged youths led to changes in the cycles of business and unemployment in America. Unemployment, which is a major factor affecting the young population in America is significantly reduced as more youths get opportunities for employment. Increased income and savings will see more young people venture into individual business investments. Resultantly, more cycles of business will arise. The underlying assumption is that by being part of the active production, these disadvantaged youths lower their risks of imprisonment and death. Lowered cases of imprisonment and mortality imply an increased labor force provided by the prime-aged population and hence higher productivity. The economy’s business cycles and unemployment trends will, therefore, be changed. Read More
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