Fact vs. fiction
When it comes to solving national and international problems, researchers often must ask: Is this something that can actually be fixed?
Because, let’s face it, we would all love to live in a world where nobody gets sick, hurricanes never come to shore, and everyone has a job, but that doesn’t make these desires realistic, right?
While we can’t do much about the common cold (yet) or the weather, Economics Professor Fadhel Kaboub and his trio of Summer Scholars have spent the last 10 weeks probing the line between myth and reality in the world of economics and unemployment rates.
Contrary to what some might think, full employment, according to Kaboub, Frances Osei-Bonsu ’15, Yue “Lucy” Yang ’16, and Hongfei Li ’17, is possible if the government functions as the Employer of Last Resort.
According to this philosophy, if citizens are capable of work, the government can equip and compensate them appropriately. “We are trying to show that the system will not naturally provide enough employment opportunities, but if we rethink the way we approach economic policy, there is a way to provide employment to anyone who is ready, willing, and able to work,” says Kaboub.
Read the full article on TheDEN at http://www.denison.edu/theden/2014/07/fact-vs-fiction/