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Macro economics Essay Example

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Macro economics

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Dougherty (2009) has taken help from figures, facts and statistics to prove his point. He has clearly made his point that unemployment is on the rise in whole United States, and it is happening at an alarming rate. He is also given due importance to the policies current government of Mr. Barrack Obama is following. The paper is very much narrative in style. It has explained the existing situation and has pointed it out that it is a serious situation. Neither the causes nor the effects of this situation have been discussed in this paper.Looking at the population of America, it has grown steadily over past few decades. With a population growth rate of 0.963% (July 2011 estimate) a clear majority of American population is in the age where they need jobs.The above mentioned graph shows that most of the U. population is in the age group of 15-64 thus a clear majority of American population is ready to work, but unemployment has become a serious problem for them.The other paper under discussion here discusses the impacts of unemployment. Darity (1999) has opened his paper with a discussion about laborers who have highly irregular employment and he has discussed them from the point of view of Carl Marx as presented by him in 1967. Marx has discussed this population as surplus. The three categories of this unemployed surplus population include those who are able to work and who want to work and are actively seeking employment. The second category includes pauper children and orphans and then third category are those people who are not fit for employment or who are too heartbroken and not in a position to work full time due to mental or physical health issues. As per Darity, Marx has also mentioned that capitalism eats agricultural sector thus resulting in the loss of jobs for a lot of people. In most countries of the world, agriculture employs a lot of population with per capita production and income figures remaining low. Capitalism moves masses away from agriculture thus a lot of people who should be a part of active work force have to sit idle.Darity mentions that Marx has actually made 2 points. One, that the employed population gets disciplined. They are aware about the very few opportunities as offered for jobs and thus they make sure they do not have to lose their job. The second direct impact is that a huge number of work forces is available to be put to work.

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