In class, we learned that the government could create policies that increase or
ID: 1105949 • Letter: I
Question
In class, we learned that the government could create policies that increase or decrease the available number of workers in a very direct way. A subtler approac is by influencing the desirability of work itself. Consider the three policies below. Will they cause workers to increase or decrease their availability to the labor market? Consider each item independently h the government could take The government chooses not to offer workers any "unemployment" benefits if they lose their jobs. The government offers low cost high quality childcare. The government offers everyone money when they reach 65. (Consider only those people who are 65 and older) 5 6· 7· 8. If we give everyone equal access to education and employment, then we do not have to worry about discrimination in the workforce. True or False 9. Which philosopher would be against reducing poverty through taxation, Rawls or Nozick? 10. Since there exists positive extermalities in poverty reduction programs, markets will produce too much poverty reduction, not enough poverty reduction, just the right amount of poverty reduction.Explanation / Answer
5) In case of no "unemployment benefits", more unemployed people would move out in the market and look for jobs, so as to earn and meet their expenditures. Therefore, the supply of labors would increase in the labor market.
6) If the Government offers low cost high quality childcare, more people would be available for work (especially females). Thus the supply of labor would increase.
7) If the Government offers everyone money when they reach 65, very few people would be willing to work after 65. The youth would also be less interested in saving for old age (and therefore less ineterested in work and income). This would lead to a reduction in labor force.
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