Unemployment in underdeveloped countries ,Types and How to overcome from Unemployment/BA/MA/11/12
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Nature of Unemployment in Underdeveloped Countries!
The nature of unemployment in underdeveloped countries is quite different from that prevailing in advanced countries. In economically advanced countries, unemployment occurs due to trade cycles. Thus, the major unemployment problem is cyclical unemployment Cyclical unemployment occurs during the recession and depression is also described as deflationary unemployment.
Deflationary unemployment is the result of deficiency of aggregate demand. Demand efficiency causes over production which leads to a falling trend (deflation) in prices. Due to the falling price level, the profitability of investment declines which, in turn, induces disinvestment and thus, causes unemployment.
During a severe depression cumulative economic activities, lead to large scale unemployment. A developed economy has no problem of availability of productive resources but the ma problem is that of non-utilisation of resources due to insufficiency of demand. There is, thus, poverty m the midst of potential plenty of resources.
Keynes, thus, suggested that the cyclical unemployment of a developed country can be removed by increasing the level of aggregate demand through generating additional spending in the economy in the form of compensatory public sector investment projects. Further, the objective of monetary fiscal policies in developed economies is to maintain economic stability at full employment level.
Unemployment and its types
suggestion to overcome from unemployment in underdeveloped countries
unemployment in developing countries,
causes of unemployment in developing countries,
unemployment pros and cons,
unemployment and its causes,
unemployment and economic growth,
gdp unemployment and inflation,
causes and consequences of unemployment,
choice of technique in underdeveloped countries,
impact of unemployment on economy,
unemployment rate and inflation