The Commodity Problem - 1

Efficiency and Employment

Efficiency and Employment

Since the beginning of the 1980s, the world has seen
enormous economic changes. In the industrialized
countries, financial markets were deregulated, leading to
an integrated global financial system without restrictions
on capital flows. Many formerly nationalized industries
were privatized. Advances in computer technology led to
considerable structural changes. The newly industrialized
country in Asia continued to grow and to export. In 1989s,
the Iron Curtain dividing Europe disappeared, and the
formerly communist regimes in Central and Eastern
Europe began their transition to market economies. Faced
with global competition, many companies felt need to
become more efficient, which is often another way of
saying they need to employ fewer people. Unemployment
has grown rapidly throughout Europe.

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Efficiency and Employment
Since the beginning of the 1980s
the world has seen enormous economic changes
In the industrialized countries
financial markets were deregulated

leading to an integrated global financial system

without restrictions on capital flows
Many formerly nationalized industries were
privatized
Advances in computer technology
led to considerable structural changes

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The newly industrialized country in Asia

continued to grow and to export

In 1989s, the Iron Curtain dividing Europe disappeared
and the formerly communist regimes in Central and Eastern
Europe
began their transition to market economies
Faced with global competition

many companies felt need to become more efficient

which is often another way of saying
they need to employ fewer people.

Unemployment has grown rapidly

throughout Europe.

Discussion
Has the rate of unemployment in your
country increased or decreased in the past
10 to 20 years?
In which economic sector have jobs
disappeared?
In which economic sector have jobs been
created?

Job Security
Which of the following words mean the
same as to employ someone, and which
mean the same as to dismiss someone?
Appoint engage
Make redundant

fire hire lay off

sack
take on

Match up
1.
2.
3.
4.
5.

Job insecurity
Tenure
Employability
Downsizing
Agency
employment
6. Core
7. Rhetoric
8. Received wisdom

A. Decreasing the number of permanent

employees
B. Generally held beliefs (that are
probably false)
C. Language used to persuade people to
believe something
D. temporary jobs in companies,
arranged by employment agencies
E. The central part of something 9e.g.
companys workforce)
F. The extent to which a person has skills
that employers want
G. The fear that you might lose your job
H. The period of holding a job

Reading: The Truth about Work

Read the article and decide which the following
you think was the original sub-title.
a. International Labor Organizational report
reveals the huge increase of temporary work
b. In spite of the rhetoric about job insecurity,
people stay in their jobs just as long today
as they did 10 years ago
c. Employment patterns tend to be countercyclical