Author: Dr. Harrison SachsPublisher: The Epic Books Of Dr. Harrison Sachs
ISBN:
Category : Business & Economics
Languages : en
Pages : 30
Book Description
This essay sheds light on what causes a high unemployment rate in the economy, explicates why the unemployment rate is unlikely to drop below 97% in the economy, elucidates how the economy is affected by a high unemployment rate in the economy, and expounds upon the problems with there being a high unemployment rate in the economy. There are a myriad of reason as to why the economy has a high unemployment rate. One of the causes behind a high unemployment rate in the economy is attributable to most real private sector employers being unwilling to incentivize people to work real private sector employee jobs based on voluntary demand. Most real private sector employers are unwilling to provide anything more to their real private sector employees than emolument in the form of a minimum wage. People who work real private sector employee jobs based on voluntary demand would prefer to be able to at least receive emolument from their real private sector employer in the form of a subsistence wage for affording housing instead of receiving emolument from their real private sector employer in the form of a minimum wage. Receiving a subsistence wage from their real private sector employer would provide the people who work real private sector employee jobs based on voluntary demand with enough fiat currency to be able to afford to cover the cost of living. If real private sector employers offered their real private sector employees a livable wage, “a defined benefit pension plan”, a 401(k) plan, paid time off, paid vacation days, paid breaks, bonuses, mileage reimbursement, tuition reimbursement, and certification test fee reimbursement, then more people would be incentivized to work real private sector employee jobs based on voluntary demand. If real private sector employers offered their real private sector employees a remote work option and flexible scheduling, then more people would be amenable to working real private sector employee jobs based on voluntary demand. Most people are deterred to work real private sector employee jobs based on voluntary demand since being able to receive emolument in the form of a minimum wage from a real private sector employer for working a real private sector employee jobs based on voluntary demand does not warrant the cost of them expending a substantial amount of their sacrosanct time, mental bandwidth, and energy during employee shifts to be able to do so. Lamentably, most real private sector employee jobs based on voluntary demand are often deemed to be dead-end, highly time-depleting, debilitating, minimum wage, dispiriting, unfulfilling, undesirable, harrowing, distressful, brutally wretched, ineffably agonizing jobs that not only drain almost all of the employee’s sacrosanct time, but also do not pay anything close to 1/4 of a subsistence wage for affording housing. Most real private sector employers are keen on not offering any benefits nor pension to their employees in spite of how much hard work, time, efforts, and mental bandwidth that they expended fulfilling their job responsibilities. The only way to get out of poverty is to have your recurring revenue streams generate enough revenue to offset your recurring expenses. Lamentably, most real private sector employers do not care furnish their employees with anywhere close to a subsistence wage because they are on keen on minimizing their labor costs at all costs. Almost all of the profits that companies generate are reserved for its executives and shareholders. Most companies not only strive to maximize the wealth of their shareholders, but also aim to furnish massive compensations to their executives. Most companies are also keen on furnishing sizeable retainer fees to their external directors. People often grossly underestimate how lucrative it can be to a chief executive officer of a highly profitable company. The pay grade that the board of directors set forth for the chief executive officer’s compensation is enormously lofty. An exorbitant amount of chief executive officer earn over $165,000,000 in compensation. If a chief executive officer, for instance, earned $165,000,000 per year in compensation, then he would be receiving about $22.035 per second which is also $79,326.92 per hour.