The spirit of full employment should be such that workers ought not to earn their living from any source. However, they should be provided with an abundance of job choices alongside decent working conditions and good pay.
Reason 1: Establishment of individual sense of security plus self-worth
One of the outstanding reasons why full employment should be embraced is that it establishes a sense of security and self-worth among individuals. Pollin points out that a person who has adequate monetary income wields some form of power and is capable of fending well for oneself and family members, safeguarding one’s safety, and developing a strong sense of self-worth (bostonreview.net). This may also be tied together with the overall development of a country.
Reason 2: A measure to combat poverty
Secondly, it is also a measure to combat poverty. One resultant effect of unemployment is poverty. The latter is defined as living below an established mark. For example, an income of less than one dollar per day is a typical example of a poverty index. Pollin offers an example in 1960 when poverty levels significantly reduced when the unemployment rate was brought down to 4 percent (bostonreview.net).
Reason 3: Essential for overall health for the economy
Overall health for an economy is yet another benefit derived when people are employed or when there is an abundance of work opportunities. Hence, purchasing power increases. This is because people get money to spend. There are buoyant markets and increased opportunities for business growth.
Reason 4: Promotes equality and individual opportunity
It also promotes socio-economic and political equity. High employment levels give everyone a chance to sustain himself or herself and his or her family. Moreover, equality is promoted if some people do not depend on others or when there is a huge gap between the rich and the poor. It also raises the stakes for participants of individuals in building the economy of a country.
Reason 5: Can deliver social and individual benefits
High employment levels can deliver communal and individual benefits. Social benefits are very important when it comes to the development of an economy. These benefits are delivered by the population. Therefore, full employment with promised security can help put these social benefits into operation. Hence, it is a fundamental goal that there should be some public policy on full employment. If the United States of America is to have social and individual benefits increased, there have to be improved employment levels.
As the unemployment level rises, there will be an evident slowdown in economies. Pollin (bostonreview.net) has emphasized that going back to full employment is one of the ways of improving the levels of employment in the United States. This was put to test way back in 1960 when the Kennedy-Johnson tax cut brought down unemployment levels to 4 percent. It is on this premise that Pollin argues that going back to full employment can help solve the challenge of increasing unemployment levels. As per the author’s statement, the latter wants his readers to believe that the problem of the increasing rate of unemployment in the US can be solved by going back to full employment. Robert Pollin wants to equate full employment to high-level employment. His statement is that going back to full employment would amicably solve the problem of the increasing rate of unemployment in the U.S. He argues that if people need to sustain a society that they can proudly live in, there ought to be full employment. Essentially, his argument is that if there were to be full employment, it would be possible for the American public to acquire and possess political power. The latter form of power would be taken away from Wall Street and other well-established businesses. Hence, Pollin (bostonreview.net) argues that going back to full employment does not mean ignoring other matters such as inflation. It is just one way of expanding the jobs supply and ensuring that workers obtain descent.
Pollin, Robert. Back to Full Employment. 2011. Web.