Thursday, March 19, 2009

Why rising unemployment is bad news for us all

Why rising unemployment is bad news for us all

"Britain's dole queues grew at the fastest pace since records began, taking the headline total to over two million for the first time in 12 years. That's terrible for those who've just lost their jobs of course. But bad news for everyone else too. It means less money being spent in the shops, more forced house sales and another surge in benefit costs. So that means even greater government borrowing, or even larger tax rises ahead. Or both..."

Posted by damien @ 11:30 AM (1167 views)
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6 thoughts on “Why rising unemployment is bad news for us all

  • As I’ve said before, this is the ultimate manifestation of the Tragedy of the Commons.

    By shedding jobs, individual company decisions are ultimately sealing their own collective fate further down the line.

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  • Those individual decisions are the essence of the free market, surely? I’ve always had a bit of a problem with the logic of companies cutting jobs, going bust etc. as a result of competition – you know, a company goes bust, a new one springs up to take its place. Fine in theory, but doesn’t work with the boom-bust cycle, though, does it? During the bust you will always get all companies shedding jobs at the same time and as stated, sealing their fate.
    The real problem here is perhaps not the market, but the short-termism and conservatism built in to the way corporations function. This means that solutions such as job-sharing that could keep everyone trained and in employment are not considered.

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  • george monsoon says:

    What about those people that look after the DWP, Job centres, etc.. Not just the Civvies, but the caterers, IT support, stationary..etc.

    They will be booming at the moment!!

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  • Depends on your viewpiont. Less consumption, fewer vehicles on the roads, families spending more time together, more spare time to educate yourself and ponder life, less energy skimmed off by the capitalist… technology has meant humans have had less and less real work to do over the years. In a more rational society unemployment could be viewed as a resounding success, instead of being stigmatised. In fact maybe it should be the aim!

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  • watchingthewheels2 says:

    whoops…….wrong comment to wrong article….sorry.

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  • Watchingthewheels2 says:

    Well done Unplugged for throwing in an alternative angle on this mess we have at the moment.Its time for a radical shift of perspective.

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