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As a result, there are four common models of employment: [62] Mainstream economics: employment is seen as a mutually advantageous transaction in a free market between self-interested legal and economic equals; Human resource management (unitarism): employment is a long-term partnership of employees and employers with common interests
978-0-230-00476-4. OCLC. 62532514. The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [ 1] giving macroeconomics a central place in economic theory and contributing much of its terminology [ 2] – the "Keynesian ...
A direct job is employment created to fulfill the demand for a product or service. [ 1] An indirect job is a job that exists to produce the goods and services needed by the workers with direct jobs. [ 1][ 2] Indirect employment includes the things need direct on the job as well as jobs produced because of the worker's needs (e.g., uniforms ).
Polarization (economics) Economists refer to the polarization of the labor force when middle-class jobs—requiring a moderate level of skills, like autoworkers’ jobs—seem to disappear relative to those at the bottom, requiring few skills, and those at the top, requiring greater skill levels. [ 1] The structure of job opportunities in the ...
Equal opportunity is a state of fairness in which individuals are treated similarly, unhampered by artificial barriers, prejudices, or preferences, except when particular distinctions can be explicitly justified. [ 1] For example, the intent of equal employment opportunity is that the important jobs in an organization should go to the people ...
Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. [ 1][ 2] Because these labourers exist as parts of a social, institutional, or political system, labour economics must ...
Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment. [ 1] Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search ...
Equal employment opportunity is equal opportunity to attain or maintain employment in a company, organization, or other institution. Examples of legislation to foster it or to protect it from eroding include the U.S. Equal Employment Opportunity Commission, which was established by Title VII of the Civil Rights Act of 1964 to assist in the ...