One of the main points of this Blog is that Western, Democratic Capitalism (WDC) could produce more jobs and thus increase the overall happiness of society. We believe the unemployment rate at the point of maximum profit is above the unemployment of maximum happiness in post industrial societies. The US economy is run to maximize profits not create jobs. Many people believe that profit maximization in the most efficient way to run a corporation. It may be the "best" way to run a corporation, but not necessarily a society.
Our economy runs an below the full happiness level because businesses want to operation at the profit maximization level not a full happiness level.
We believe WDC culturally support work. It is part of our heritiage. We also assume a society is happiest when everyone who wants to work can do so at a living wage.
The current economic theory looks at jobs as cost or profit makers, not as a object unto itself with value. Jobs, themselves, have intrinsic value. Jobs have value for a wide range of reasons: self esteem in a society that values work, the opportunity to train and learn a new skill, to meet and network with people and to earn income.
The value of a job needs to be considered when we discuss the cost of creating jobs by the government.
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