Monetarism and unemployment

[Leafless]

Monetarism= "The theory or practice of controlling the supply of money as the chief method of stabilizing the economy."

The dominant financial communities of the world adapted the theory of Monetarism, which holds the money supply is the main determinant of economic activity.

Monetarism contributed significantly to a paradigm shift in the locus of politcal power AWAY from democratic (public) exercise and open debate toward corporate (private) closed control.

In Canada manufacturers are slow to upgrade and to compete have turned to alternate methods to squeese dollars from the Canadian public.

This has resulted in more part time employment (at minimum wage), split shifts, working weekends etc.

Ask anyone how many full time employment opputunities are offered by the private sector that don't dry up 6-months later or so.

Could this be why the push is on for immigrants as native Canadians are reluctant to accept this kind of employment as private employers employ immigrants forcing Canadians to accept our conditons (private employers) or starve.

This creates a housing shortage at the low end with many sons and daughters returning home to live with parents or other family members.

A university degree to-day means you have a slightly better chance at a higher paying job similar to a chance in a lottery.

Public service employees federal and provincial and municiple and unionized employees seem to be the only ones that escape the wrath of low wages and part time employment mostly at the expense of the public who finance their worldy desires and greed.

Why does this employment discrimination exist? Why are the tables of fair and equal treatment so horribly tilted and why is this even accepted in favour of what can be expressed as 'mob rule' concerning unions? What can be done to create a decent living wage for everyone and stop the private sector from treating employees many like scum?

[theloniusfleabag]

Dear Leafless,

What can be done to create a decent living wage for everyone and stop the private sector from treating employees many like scum?

Holy cow, when did you swing so far left? This is what companies are supposed to do, to maximize profits.

How can it be combated? Only the power of the consumer can (apart from legislation) change 'corporate ethics', because as of now, direction is taken from shareholders. What might be effective is a 'consumer's union', where mass purchasing power is given to, or withheld from, businesses according to the 'union stampr of approval'. Not easy, but the only way really.

Public service employees federal and provincial and municiple and unionized employees seem to be the only ones that escape the wrath of low wages and part time employment mostly at the expense of the public who finance their worldy desires and greed.

How can unions be busted? Simple, lock them all out and hire replacement workers. I shudder to think that WestJet may go union, because they have done a good job of treating their employees well, and have been reasonably profitable in a very tough market, and unionizing them would be very detrimental to their bottom line.

I am not sure about union laws, but I do know a person cannot get fired for trying to start a union. However, If my employees said 'We're not going to work today until we get more money, I would consider each on their merit, and respond accordingly. Either they would get it if: they merited it and I could afford it, or, they would not get it. If they chose not to work, they would be replaced.

[Leafless]

theloniusfleabag

Yes, regarding unions like Ronald Reagan did back in 1981 when he fired 11,000 air-traffic controllers.

http://www.natca.org/mediacenter/pressrele...tail.asp?id=164

But the problems associated with individual Canadian prosperity I think is being severley hampered by lack of federal, provincial insight and direction and catering to 'the old boys club' ideologies along with feeding aspects of multiculturalism.

All of this distorts the real need of Canadians and cleary indicates buisness in the private sector is being severely hampered by it's inability to compete in many areas and this is indicated by the artificial price increase in a multitude of consumer goods and services.

To resolve this issue is next to impossible without a total dissection of federal, provincial, municiple responsibilities which seem to be out of control within these governments as they are preoccupied with their own version of kingdom building and ignoring the real needs of the country regarding meaningful employment.

[August1991]

Monetarism= "The theory or practice of controlling the supply of money as the chief method of stabilizing the economy."

The dominant financial communities of the world adapted the theory of Monetarism, which holds the money supply is the main determinant of economic activity.

Monetarism contributed significantly to a paradigm shift in the locus of politcal power AWAY from democratic (public) exercise and open debate toward corporate (private) closed control.

That's a tremendous exaggeration, and it's misleading - but you do raise an interesting point.

Monetarism is primarily the idea that the goal of monetary policy should be price stability. Economic activity is all the things that people do in the normal course of a day. Without price stability (that is, when there is excessive inflation), people are confused and their economic activities are upset.

To achieve price stability, most central banks are now independent of elected government - similar to the way that the judiciary is independent - and they are given an express mandate to keep inflation low.

A university degree to-day means you have a slightly better chance at a higher paying job similar to a chance in a lottery.

I gave evidence on a different thread that the median annual income of high school graduates in the US in 2003 was around $30,000 whereas the median income of college graduates was around $50,000.

Leafless, you make blanket general statements which are not supported by evidence.

[geoffrey]

Independant central banks are critical to economic stability.

I'd hate to see a government coming up to election time with control over the money supply...

Since when does democracy represent the best way to conduct economics? Generally, most MP's have no knowledge on the subject, and would love to either cut the supply to completely eliminate inflation, or print off enough money to pay the debt... its for reasons like that that monetarism works.

Monetarism is the reason we've had stability in our markets for the last 60 years. Lets keep it that way.

[Leafless]

August1991

You wrote- " I gave evidence on a different thread that the medium annual income of high school graduates in the U.S. was around $30,000 whereas the medium income of college graduates was around $50,000. leafless you make blanket statements that are not supported by evidence."

Then I must ask you why must you go to a foreign country to obtain your evidence, can't find it Canada?

Your fiqures college, university, graduates completing a four year course puts many into the professional category.

But what you left out was trades and skilled technical positons some requiring little more than high school or via on the job training or apprenticeship programs with many of these salaries in excess of $50,000 per year.

But where are these jobs in Canada as monetarism as left the corporate world in full control producing a mean and lean private job market sometimes with little security or benefits due to high level of competiton caused by globalization.

For every higher income positon filled how many rejected applicants go home with nothing 50-100-500-1000?

Where are all the secure higher paying jobs with an array of benefits that pay for all these SUV's you see driving around and allow the lucky ones to make long term committments on such worldly items as very expensive housing.

Our three levels of government federal, provincial, municiple have created many well paid pampered jobs through a system that is financed by the tax payer and escapes control by corporate Canada.

And who gets these jobs? As far as I can see all you have to in the case of federal employment is look in the federal telephone directory to see many of the same last names which tells you nepotism is alive and well. This produces in many cases a closed system within a system with the end result good government jobs are being subsidized by the tax payer who in many cases has no chance to land one of these jobs.

Every year it is the same groups that start the chain reaction of demanding more money, better pensions etc. namely school teachers and postal workers the subsidized workers of Canada.

Why should public service and associated government positons be in the positon to offer more money, security and an array of benefits while corporate Canada in most cases to-day have no way to compete in this area?

[geoffrey]

Some things Leafless

Your fiqures college, university, graduates completing a four year course puts many into the professional category.

Most university grads aren't professionals. Professionals have skills, most university grads have knowledge. Two different things.

But where are these jobs in Canada as monetarism as left the corporate world in full control producing a mean and lean private job market sometimes with little security or benefits due to high level of competiton caused by globalization.

Monetarism has had little to do with this. Come to Alberta, tons of jobs, lots of money.

Where are all the secure higher paying jobs with an array of benefits that pay for all these SUV's you see driving around and allow the lucky ones to make long term committments on such worldly items as very expensive housing.

They obviously exist. Many people decide to create wealth on their own and not rely on others to do it for them. These are generally the really well-off folks.

And who gets these jobs? As far as I can see all you have to in the case of federal employment is look in the federal telephone directory to see many of the same last names which tells you nepotism is alive and well. This produces in many cases a closed system within a system with the end result good government jobs are being subsidized by the tax payer who in many cases has no chance to land one of these jobs.

Nepotism is an issue in civil service, I'd agree.

Every year it is the same groups that start the chain reaction of demanding more money, better pensions etc. namely school teachers and postal workers the subsidized workers of Canada.

I though you were all for more money?

Why should public service and associated government positons be in the positon to offer more money, security and an array of benefits while corporate Canada in most cases to-day have no way to compete in this area?

Corporate Canada pays considerably more than the government. If you want to work hard and have an applicable skill set, you'll make considerably more money in the private sector.

[Leafless]

geoffrey

You wrote- " Most university grads arn't professionals. Professionals have skills, most university grads have knowledge."

I did say "professional gategory" i.e. electrical engineer- pretty useless at first until experience is accumalted and then could end up in the $50k range like August was talking about.

You wrote - " Monetarism has little to do with this. Come to Alberta tons of jobs, lots of money."

Yeah, I heard about the $250K mobiles. I agree Alberta is in a class by itself. For now.

You wrote- " I thought you were all for more money"

I am just pointing out the existing disparity between private corporate and subsidized public jobs in most of the country including jobs in the artificial bilingualism area which also discriminate.

You wrote- " They obviously exist. Many people create wealth on their own and do not rely on others to do it for them"

I am not talking about private corporate Canada. I am talking about the SUV,s in government parking lots. Even the CBC has them.

You wrote- " Corporate Canada pays considerably more than government."

Thats not always the case. There are many jobs in private industry where people have a hard time putting food on the table.

[August1991]

August1991

You wrote- " I gave evidence on a different thread that the medium annual income of high school graduates in the U.S. was around $30,000 whereas the medium income of college graduates was around $50,000. leafless you make blanket statements that are not supported by evidence."

Then I must ask you why must you go to a foreign country to obtain your evidence, can't find it Canada?

Your fiqures college, university, graduates completing a four year course puts many into the professional category.

But what you left out was trades and skilled technical positons some requiring little more than high school or via on the job training or apprenticeship programs with many of these salaries in excess of $50,000 per year.

I suspect the situation in Canada is similar to the situation in the US. All things considered, on average, someone with a university diploma earns about 50% more than someone with a high school diploma. Of course, you can find many individual counter examples. I am speaking about averages.

Education is still correlated with income.

But where are these jobs in Canada as monetarism as left the corporate world in full control producing a mean and lean private job market sometimes with little security or benefits due to high level of competiton caused by globalization.

For every higher income positon filled how many rejected applicants go home with nothing 50-100-500-1000?

Where are all the secure higher paying jobs with an array of benefits that pay for all these SUV's you see driving around and allow the lucky ones to make long term committments on such worldly items as very expensive housing.

Our three levels of government federal, provincial, municiple have created many well paid pampered jobs through a system that is financed by the tax payer and escapes control by corporate Canada.

And who gets these jobs? As far as I can see all you have to in the case of federal employment is look in the federal telephone directory to see many of the same last names which tells you nepotism is alive and well. This produces in many cases a closed system within a system with the end result good government jobs are being subsidized by the tax payer who in many cases has no chance to land one of these jobs.

Every year it is the same groups that start the chain reaction of demanding more money, better pensions etc. namely school teachers and postal workers the subsidized workers of Canada.

Why should public service and associated government positons be in the positon to offer more money, security and an array of benefits while corporate Canada in most cases to-day have no way to compete in this area?

Leafless, rather than make broad generalizations without any evidence, I suggest you do a little research with an open mind.

There were many people in the Catholic Church, 500 years ago, who insisted that the Sun revolved around the Earth, and were absolutely adamant about that fact, despite having never looked at any evidence whatsoever. Given Danish cartoons and whatnot, this point is relevant now.

The scientific method involves being sceptical but also keeping an open-mind. It certainly does not mean being wedded to a particular viewpoint.

[Leafless]

August1991

You wrote- " Leafless rather than make broad generalizations without any evidence, I suggest you do a little research with an open mind."

Your evidence concerning salaries of college grads as in comparison to high school grads was not what I getting at.

It is a well known fact that many college grads and articles will attest to that the jobs you are talking about are far and few between. This is what I am talking about is the quanity of jobs that are not available to fill the demand.

There are no statistics to confirm this. In this country it seems statistics are basically goverened by Statistics Canada who pretty well choose what statistics are available to the public in any given area in order to support views of the federal government.

Do you have any evidence that contradicts anything or any statement that I have made?