In the current times, there is an increasing number of individuals who compete for the same job positions. This circumstance results in a decrease in the number of people who are employed and, therefore, they are not able to lead an adequate lifestyle. This problem can be worked out by the artificial manufacturing of labor slots.
The obvious drawbacks caused by this phenomenon are the downfall of the labor market and people losing their constant source of income and ,therefore, society can suffer from high instances of poverty and can end up in a dreadful economic crisis. For instance, the population of the Weimar Republic was dealing with extreme poverty derived from a lack of job slots. Therefore, negative outcomes resulting from excessive competition include economic stagnation and the worsening of living conditions.
One of the ways of dealing with this issue is to artificially generate job positions in order for people to have a secure workplace. Governments can use a wide variety of legislations and can utilize their institutional influence to negotiate an extension of the job market with major corporations. For example, Norway’s bureaucratic elite collaborated with their companies to develop an extensive labor market accessible to a broad segment of the population. Thus, the solution to this issue is the introduction of specific policies that target financial elites.
In conclusion, major issues that arise from this circumstance are the degradation of the job market and the inability of people to seek a reliable source of money, and one of the ways to solve this issue is to implement legislations that aim to secure people’s ability to acquire certain jobs.