Case study is fun fun (1 Viewer)

[GaNeSh]

hey despite what the title says, im havin trouble with the case study. If anyone is doing either Brazil or Poland can u plz give me some info on their policies/reforms for eco growth & development...cheers
Also, whats 'Classical unemployment'?

 

[Jago]

http://www.tutor2u.net/economics/content/topics/unemp/unempcause.htm

Real wage (classical) unemployment

Real wage unemployment is a form of dis-equilibrium unemployment that occurs when real wages for jobs are forced above the market clearing level.

Traditionally, trade unions and wages councils are seen as the institutions causing this type of unemployment although the importance of trade unions in the UK labour market has diminished significantly over recent years and this has not stopped unemployment reaching nearly three million twice in the last twenty years.

Classical unemployment is thought to be the result of real wages being above their market clearing level leading to an excess supply of labour. Some economists believe that the introduction of the national minimum wage may create some classical unemployment in industries where average wage rates are closer to the NMW level and where international competition from low-labour cost producers is severe.

 

[GaNeSh]

ok cool thanks....any takers for the second part of my question...

 

[Freaky]

Im not memorising anything to do with Brazil, if it happens to be in an exam question, i will just do the other one. F*ck Brazil.