How is unemployment controlled?
This is a great question in our economic climate. There is no set answer and many people debate what is the best way to create more jobs. Here are some suggestions from different schools of thought.
Some people say that the best way to create more jobs is by giving tax breaks to large companies. The ideas behind this is that these companies will make more money and then start hire more people as well as buying what they need to help other industries. Of course, not all people like this idea, because what if these companies do not hire more people and hoard all the cash?
Other say that we need to lower interest rates and let borrowing happen more easily, so that with easy access to credit, people can start small businesses and the like. Our Federal Reserve Chairman believes in this.
Still others say that the government needs to do more. The government needs to take on large projects such an infrastructural works, such as high speed trains. China is following this approach.
In the end, there is no perfect answer.