Unemployment: Capitalism's Achilles Heel

Abstract

Early this year a short item appeared on the first page of The Wall Street Journal which read: Unemployment rises around the world, and the outlook remains dim. More people are out of work than ever before, according to the International Labor Organization. Some 30 percent of the world's labor force is unemployed or underemployed: 120 million people are registered as unemployed and another 700 million are underemployed, says Ali Taqi, the ILO's chief of staff. (Wall Street Journal, 8 February 1994)

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