Teach me the economic mechanism behind Job creation.

[Ibn Sina]

I want to know-

What makes one country have more jobs while other country have less jobs?
What is the influence of a higher authority like a President , Minister for job creation?
What are the factors behind increase and decrease in jobs?
What is the relationship between technology and jobs?
Relationship between Natural resources of a country and jobs?
Relationship between the geography of a country like, land locked, peninsula, island, and jobs?
Relationship between entrepreneurs and job creation, and how some people become entrepreneurs to begin with (that leads to job creation)?

Any expert economists here??!!

 

Edited September 26, 2019 by Ibn Sina

[crab12]

I'm no expert but I do need some understanding of the economy as part of what I do.

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What makes one country have more jobs while other country have less jobs?

Things that correlate the highest are low crime rate, low corruption, dependable courts and justice system / laws, a feeling of security and justice. In order to create large scale business you need a justice system / courts / police force that upholds the law. For example, a few countries in the EU are experiencing unprecedented levels of crime, if this continues you can expect their economic output to plummet in the coming years.

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how some people become entrepreneurs to begin with (that leads to job creation)?

Being an entrepreneur requires creator mindset. Almost everyone I personally know has victim thinking to some degree. School system encourages victim thinking. If creator mindset was taught at school I'm confident it would increase the number of entrepreneurs.

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Relationship between Natural resources of a country and jobs?

As long as there are raw materials to be imported from other countries then natural resources not necessary at all. Or to put it more accurately, the presence of natural resources are surprisingly unimportant.

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Relationship between the geography of a country like, land locked, peninsula, island, and jobs?

Being landlocked is a major disadvantage.

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What is the influence of a higher authority like a President , Minister for job creation?

The policies they enact. There is no strong consensus on this. Macroeconomics tells us that, in general, expansionary monetary policy encourages job creation. Keynesian theory tells us that high inflation (not too high though, there's a sweetspot) encourages business growth because of the incentive to invest rather than to hoard cash, because otherwise your cash just evaporates away. Right now, central banks around the world have the most expansionary policy ever in history, I think. Meaning they print mountains of money and let it into circulation as stimulus. That's why people all over the world are experiencing a sharp drop in buying power of currency (USD, EUR, RMB, CAD, JPY, INR and others are all impacted). But there are (completely justified IMO) worries of malinvestment, meaning that the expansionary policy doesn't create real growth but bubbles, like the dot com crash and the 2008 crash. It's quite evident already (check out WeWork).

I dunno what's your current level of understanding. Thomas Sowell has an incredible book on economics which is a great place to start. Highly recommend.

https://www.amazon.com/Basic-Economics-Fifth-Common-Economy/dp/B00PKQMFT8

Edited September 27, 2019 by crab12

[Jamie Universe]

13 hours ago, Ibn Sina said:

What makes one country have more jobs while other country have less jobs?

probably a lot of factors.

- economic strategy/system, for example I think some middle eastern countries have a lot of oil, but they're in the desert, so that's there only resource, and they're really wealthy because of that, but also (I forgot the name for it), are dependent on it, so if anything bad happens the country can go to hell

- if you make more institutions, or business, those will create jobs compared to before, but there's a lot of nuances someone smarter should explain that I don't understand

Edited September 27, 2019 by Jamie Universe