What is disadvantage of unemployment for an individual?
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Disadvantages of Unemployment
At first glance, unemployment seems inefficient since unemployed workers do not increase profits. However, unemployment is profitable within the global capitalist system because unemployment lowers wages which are costs from the perspective of the owners. From this perspective low wages benefit the system by reducing economic rents. Yet, it does not benefit workers. Capitalist systems unfairly manipulate the market for labour by perpetuating unemployment which lowers laborers' demands for fair wages. Workers are pitted against one another at the service of increasing profits for owners.
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At first glance, unemployment seems inefficient since unemployed workers do not increase profits. However, unemployment is profitable within the global capitalist system because unemployment lowers wages which are costs from the perspective of the owners. From this perspective low wages benefit the system by reducing economic rents. Yet, it does not benefit workers. Capitalist systems unfairly manipulate the market for labour by perpetuating unemployment which lowers laborers' demands for fair wages. Workers are pitted against one another at the service of increasing profits for owners.
I HOPE THIS HELPS U...
THANK U...
PLZ MARKS AS BRAINLIEST IF POSSIBLE...
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Unemployment is the cause of many loss or disadvantage for an individual. Without any work or job or we can say without get employed he or she can not fulfill his or her family's basic needs too.
Basic needs here refers to food, clothes, house, health and education....
#Aaru
Basic needs here refers to food, clothes, house, health and education....
#Aaru
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