[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-321733-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-321733-en":130},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","jobs-creation-and-government-policy-read-online-free","Jobs Creation and Government Policy - read online free","","The text critiques the Depression-era idea that government should actively create jobs, arguing instead that policy should prioritize wealth creation to support a higher standard of living. It explains the relationship between work and wealth, noting that reducing the “muscle” component of employment while increasing “brainware” raises productivity and leisure. Using examples from disaster recovery and policy targeting, it argues job creation programs often resemble cleanup efforts and can reduce market efficiency by encouraging special interests and inhibiting job destruction that precedes genuine job creation.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/jobs-creation-and-government-policy-read-online-free/321733/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/jobs-creation-and-government-policy-read-online-free/321733.png","ImageObject",300,407,{"name":42,"@type":43},"Eliana","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-24","2026-09-21",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",8,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"Why does the text argue that wealth creation should be the primary government objective?","Question",{"text":63,"@type":64},"Because it links wealth creation to a higher average standard of living and to reducing work burdens over time. It also suggests that focusing on jobs rather than wealth inevitably lowers living standards.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How does the text distinguish creating wealth from creating work?",{"text":68,"@type":64},"It states that work is the necessary means to achieve wealth, but society is not better off when people work only long, hard hours. It argues that disasters can create work while destroying wealth, changing how households and firms must recover.",{"name":70,"@type":61,"acceptedAnswer":71},"What does the text say about government attempts to preserve or direct jobs?",{"text":72,"@type":64},"It claims policymakers lack clear foresight about where entrepreneurship will go, making targeted employment policies uncertain and potentially negative. It also argues such policies can form special interest groups that reduce market efficiency and persist after they stop being economically desirable.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},321733,1790313727,{"code":4,"msg":82,"data":83},"success",[84,88,92,96,101,106,111,114,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & 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oughtto be responsible for creating jobs wouldhave seemed absurd.Today,however,wecommonly hear aspiring politicians de-clare that their number-one economic ob-jective would be to increase employment.  \nThe intellectual justification for gearinggovernment budgetary and monetarypolicies toward fine-tuning the economy(and,in particular,toward generatingmore employment)was provided byJohn Maynard Keynes'The GeneralTheory of Employment Interest andMoney.Since the book's publication in1936,the dominant view of economicpolicymakers has been that a competi-tive marketplace will fail to generateadequate employment opportunities.This view underlies the advocacy ofgovernment programs to create jobs.”  \nI am reminded of a story that a westernbusinessman told me a few years agoWhile touring China,he came upon ateam of nearly 100 workers building anearthen dam with shovels.The business-man commented to a local official thatwith an earth-moving machine,a singleworker could create the dam in an after-noon.The official's curious responsewas,\"Yes,but think of all the unemploy-ment that would create.\"  \n\"Oh,\"said the businessman,\"I thoughtyou were building a dam.If it's jobs youwant to create,then take away their shov-els and give them spoons!\"  \n# Jobs Creation and Government Policy\n\nIn the final decade of this century,theDepression-era way of thinking aboutthe role of government is fading.In the21st century,creating work for peoplewill not be viewed as a primary objec-tive of government policy;fostering anenvironment for wealth creation will be.  \n## ■ Creating Workversus Creating Wealth\n\nWork is the necessary means of achiev-ing wealth:In order to be consumers,we must also be producers.Whatevergood intentions are presumed,when thegovernment focuses away from creatingwealth and onto creating jobs,it in-evitably engenders a lower averagestandard of living.A successful,wealth-augmenting government policy shouldsimultaneously reduce the work burdensof the labor force.That does not meanpeople will need to share jobs,takelow-paying jobs,or become unem-ployed.Wealth creation occurs as the\"muscle\"component of employmentdiminishes and the “brainware”com-ponent increases.  \nThe work record of industrialized coun-tries in the past century is clear.In theUnited States,for example,the averageworkweek has fallen by more than 40percent in the last hundred years.Amongthe benefits of wealth accumulation is theincrease in leisure that it affords.Verypoor nations are typically characterizedby people who work most of their wak-ing hours.To do otherwise would be dis-astrous.Where one finds impoverishednations with high rates of joblessness,one also finds political/economic sys-tems that have large disincentives to cre-ate and accumulate wealth.  \nOctober 1,1996  \nIs creatingjobs an appropriate focalpoint of public policy?FederalReserve Bank of Cleveland PresidentJerry L.Jordan argues that creatingwealth,and thus allowing for thehighest standard of living,is the moresensible approach for both govern-ment and monetary policymakers.  \nThe distinction between creating wealthand creating“work”can be illustrated byan economy that has experienced a cata-strophic natural disaster.A well-knownfeature of market economies is that in thewake of a disaster,such as a hurricane orearthquake,employment and productiontend to rise.One conclusion might bethat market economies routinely hoardunused labor services—workers who aregratefully called into service by the newdemands of rebuilding houses,roads,andall of the other investments that weredamaged or destroyed.  \nBut clearly,society is not better offbecause people are working long,hardhours.A more reasoned conclusion isthat these natural disasters are destroy-ers of wealth—and creators of work inthe sense that households and firmsmust now toil harder to help recoverfrom their losses.I doubt that this is thesort of “jobs creation”program vot","cbCait2s8OqrUSqW","https://ap.wps.com/l/cbCait2s8OqrUSqW","pdf",1293449,"English","# Jobs Creation and Government Policy\n## Creating Work versus Creating Wealth\n## Government and Jobs Preservation","[{\"question\":\"Why does the text argue that wealth creation should be the primary government objective?\",\"answer\":\"Because it links wealth creation to a higher average standard of living and to reducing work burdens over time. It also suggests that focusing on jobs rather than wealth inevitably lowers living standards.\"},{\"question\":\"How does the text distinguish creating wealth from creating work?\",\"answer\":\"It states that work is the necessary means to achieve wealth, but society is not better off when people work only long, hard hours. It argues that disasters can create work while destroying wealth, changing how households and firms must recover.\"},{\"question\":\"What does the text say about government attempts to preserve or direct jobs?\",\"answer\":\"It claims policymakers lack clear foresight about where entrepreneurship will go, making targeted employment policies uncertain and potentially negative. It also argues such policies can form special interest groups that reduce market efficiency and persist after they stop being economically desirable.\"}]","Jobs Creation and Government Policy - read online free | PDF",1789960103,13]