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The basics of supply and demand
The basics of supply and demand
The basics of supply and demand
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Unemployment is the worse fate known to men and women. Having a job cannot
be taken for granted and having a good pay does not mean a person is going to have a secure future. Unemployment is especially on the rise and having a job and keeping it is becoming increasingly difficult for people. ”From 100,000 a year to unemployed” is an article written in CNN by Wayne Drash and it talks about a person named Eric Bell from Phoenix, Arizona. Eric had a secure job and had been working for the last ten years and was on his way to “middle management” when the crisis struck and he lost his job. Eric had seen both good times and bad and when the times were good he was making a comfortable six figure salary and soon all that changed for him and he found himself at a crossroads when he became unemployed filing unemployment checks which amounted to $216 per week a far cry from the six figure salary he used to make earlier. Although some argue that unemployment is result of laziness, it is actually rooted in the fluctuations of a market economy governed by the law of supply and demand . This article shows the ups and downs in Eric Bell’s life and how he still kept a positive attitude towards life without blaming anyone for his unemployment situation .
Eric Bell had been doing really well in his job so far and was making upwards of $100,00 and was on his way to the top . He had been working for ten years now and was slowly making his way to the top. The good times did not last for long when his company got taken over by another company. He lost his job and was looking for another job soon enough. He did not think it was a big deal for him to get a job immediately since he was an MBA graduate. Alas, that confidence soon came crumbling down and reality soon hit home when even after seven months of intense job search, he still did not have any job offers. He was a forty one year old father to a five year old son, jobless getting unemployment benefits of $216 every week and that seemed to be his source of income for a while. This seemed a far cry from someone who was making $ 100,00 per year just a few months ago.
The invisible workforce consists of the low-wage workers that face harsh working conditions, a few or no benefits, and long hours of labor that exceed the regular business week. Barbara Ehrenreich, narrates her experience of entering the service workforce, in the book Nickel and Dimed. She proves that getting by in America working a minimum wage job is impossible. Although, the book was written in the 1990’s, the conditions in which minimum wage workers lived still prevail today. Minimum wage no longer serves its original purpose of providing a living wage for the invisible workforce.
In “The Real Truth about Money” (2005), Gregg Easterbrook discusses the effects of money on the people’s happiness. He presents his article with statistics of the generation immediately after the World War II and the current generation. He has experienced both generations as he has lived in both and is very familiar with the difference of people’s lives now and back then. Easterbrook is a highly reputed journalist, he is an authorized writer, editor, and professor. He worked with many professional magazines and newspapers; accordingly, he has enough knowledge to write about the people’s happiness in terms of money. Easterbrook has well convinced the readers with psychological facts from university researches and credible
Barbara Ehrenreich goes undercover as a struggling and minumum wage payed American Waitress. Barbara Ehrenreich is the author of “Nickel-And-Dimed” an essay about an average minimum wage worker and how they live their lives on a low wage job. She disguises herself and tries to prove that it is impossible or possible to be financially stable. Barbara meets other minimum wage workers, uses mathematical statics and personal experience to prove that it is very difficult or even impossible to live off a minimum wage paid job and using all of these facts make this article effective and strong.
Poverty and low wages have been a problem ever since money became the only thing that people began to care about. In Nickel and Dimed: On (Not) Getting By in America by Barbara Ehrenreich, she presents the question, “How does anyone live on the wages available to the unskilled?” This question is what started her experiment of living like a low wage worker in America. Ehrenreich ends up going to Key West, Portland, and Minneapolis to see how low wage work was dealt with in different states. With this experiment she developed her main argument which was that people working at low wages can’t live life in comfort because of how little they make monthly and that the economic system is to blame.
Jeffrey Reiman, author of The Rich Get Richer and the Poor Get Prison, first published his book in 1979; it is now in its sixth edition, and he has continued to revise it as he keeps up on criminal justice statistics and other trends in the system. Reiman originally wrote his book after teaching for seven years at the School of Justice (formerly the Center for the Administration of Justice), which is a multidisciplinary, criminal justice education program at American University in Washington, D.C. He drew heavily from what he had learned from his colleagues at that university. Reiman is the William Fraser McDowell Professor of Philosophy at American University, where he has taught since 1970. He has written numerous books on political philosophy, criminology, and sociology.
The pool of opportunity has grown smaller from what it once was, and it seems that opportunity parallels the wealth in capitalist America—a small number of individuals are successful in their endeavors, and the rest must settle for less with disappointment and disillusionment. While hard work and perseverance may push individuals to new heights, the power of optimism and positive thinking can only take a person so far. The great American dream and frontier is only available to those with certain circumstances, and those circumstances are becoming less available to the new generation coming into the
"Growing Up" by Russell Baker is an autobiography on the troubles him and his family faced during the Great Depression.. While the United States is enormously changing from war to war, Russell tells his story of growing up in an extremely depressing environment. During the Depression, the major problems that Baker faced through the novel were about the financial difficulties that his family endured, ending in result of his father passing away, the struggles of moving from rural life to urban life, and the lack of Medical attention around the area.
...r monetary or resource value to get the basic needs of the family met. Jobs are falling. Klotz points out those jobs are hard to come by for many people, especially the younger generation she talks about, being the 20-24 age groups (Klotz 3). Asher Miller, executive director of the Post Carbon Institute writes in his forward, “an estimated 16.5 percent of the population is officially classified as “underemployed,” the highest level since the 1930s” (Heinberg and Lerch xiv). There is no way to provide for a family; shelter, food, water, clothes, education and healthcare without a job unless you rely on the government for full support. Even that is limited in what it provides. Lack of jobs is a negative indicator of progress and growth. Even worse is the tragic combination of no jobs and dwindling resources to provide jobs, food, and energy for all of the nations.
People will argue that having a low-paying job and freedom is better than a high-paying job and a 60-hour workweek. However many including myself, don’t share the views of Hal Niedzviecki’s essay’s “Stupid Jobs Are Good to Relax With”. Having a higher paying and longer hours provides much more income and allows for a lot more financial freedom. This freedom can help bring much more happiness into your life compared to the lower paying workweek. Hal Niedzviecki mentions many benefits to the easy jobs with low-paying workweeks in the following statement
The Millionaire Next Door written by William Danko and Thomas J. Stanley illustrates the misconception of high luxury spenders in wealthy neighborhoods are considered wealthy. This clarifies that American’s who drive expensive cars, and live in lavish homes are not millionaires and financially independent. The authors show the typical millionaire are one that is frugal, and disciplined. Their cars are used, and their suits were purchased at a discount. As we read the book from cover to cover are misconceptions start to fade. The typical millionaire is very frugal in all endeavors and finds the best discounts possible. A budget is implemented daily, monthly, and annually for a typical millionaire. They live by the budget and are goal oriented. Living well below their means is crucial for a millionaire, and discovering ways to allocate time and money more efficiently. The typical millionaire next door is different than the majority of America presumes. Let’s first off mention what it is not. The typical millionaire is surprisingly not the individual with the lavish house worth a million dollars, owning multiple expensive cars, a boat, expensive clothes, and ultimately living lavishly. The individual is frugal and often looks for discounts for consumable goods. The book illustrates the typical millionaire in one simple word: frugal. It is shocking to believe that this is true, but it does make sense. To achieve financial independence is inherently more satisfying and important than accumulating wealth. According to the book the majority of these millionaires portray characteristics of being sacrificial, disciplined, persistent and frugal. In the book it states, “Being frugal is the cornerstone of wealth-building. Yet far too often th...
This disruption gives those who have lost their jobs to improve themselves by furthering their education. The psychological effects on displaced workers only last until they find a replacement job. Today, the national unemployment rate is at five percent according to the U.S. Bureau of Labor Statistics (Databases). Economic experts believe that technological advances are expanding at a faster rate than humans can learn to manage and adapt to the new skills necessary to survive in the evolving labor
... Poverty: A Little Help for the Long-Term Unemployed? | The Nation. N.p., 8 May 2012. Web. 26 Mar. 2014. .
Erika’s sweet sixteen is today, and her parents bought her a brand new car. She pulls into the school’s parking lot and flaunts about how her parents not only got her a car, but also a trip to Italy. People start to walk away, even some of her best friends. As the day goes on, her friends have not talked to her since morning. Fed up, Erika asks them what is wrong. Kristie, one of her friends, tells her how they cannot stand listening to her talk about her ostentatious gifts anymore. When Erika gets home from school, her mom asks her what is wrong. It is then she realizes what her friends were trying to say and tells her mother she does not want the car anymore. Her mother, astounded, asks why not and gets a reply of money cannot buy friends, nor can it buy happiness. According to “Does Money Buy Happiness,” by Don Peck and Ross Douthat, they disagree with the connection between money and happiness.
People who work hard enough become successful and build a good life for themselves and their family. Millions of Americans and others who admire America have believed this for generations. However, is this still true? Brandon King debates his interpretation of the American Dream in his published work, “The American Dream: Dead, Alive, or on Hold?” During his essay, the speaker highlights how important the American Dream is to the economy and providing a distance from inequality. The speaker emphasizes his belief that the American Dream is still alive within America and that people must work hard to achieve it. When discussing the American Dream, King will agree that the idea is alive and thriving in the minds of Americans; yet, I argue that the idea is on hold within American society due to lack of upward social independence and economic mobility.
A problem America is experiencing is the economic growth, it is a problem because the wealth growth is only affecting the rich. It is as simple as this, the rich are getting richer and the poor are getting poorer. Robert Reich points this out in his text, Why the Rich Are Getting Richer and the Poor, Poorer. This has been a problem recurring since the industrial revolution, because of the labor groups being stuck in that position. Also, the mergers, and lawyers cycle around their money through lawsuits, and takeovers. Reich uses metaphors in his text about the fall of economy, and he uses boats. There are three boats that are being represented by different economic standing. The reason why Americans are having such troubling economic standings