Social Policies are concerned with various issues, but for the benefit of this essay I shall be concentrating on the issue of unemployment. In order to understand the concept of market liberalism with regards to unemployment it is important to first take into consideration the "social reformist" approach to unemployment in order to consider the strengths and weaknesses of market liberalism.
As individuals, others often initially enquire us as to what we do for a living. Employment is a major part of social society. We often complain about the fact that we have to work, and at times suggesting that we are "only in it for the money", however this is not strictly true. Employment not only offers us a regular income; it also provides social status, structures our days, weeks, years and our life. However with the loss of employment comes "unemployment". People who are unemployed not only face financial implications but personal and social implications too.
Unemployment a. without a paid job; not in use. Unemployment.
(The oxford Popular Dictionary, 1998 p.547).
Unemployment in Britain was a recurrent problem. Immediately after the First World War, the government mishandled the discharge of servicemen back into civilian life, and unemployment escalated rapidly. Subsequently, the economy picked up and the problem decreased. However, this proved to be a short-term respite, and by 1921, registered unemployment was estimated to be over 2 million. Unemployment remained over a million throughout the period, declining slowly in the middle 1920's however then rising sharply in 1930. By 1031, the unemployment figure was over 2 million, and did not decline below 2 million up until 1936. (In Hill, 1993 p.23).
Keynes publishing of "General Theory of Unemployment, Interest and Money" in 1936, identified that unemployment had a multiplier effect. Keynes suggested that the unemployed became a...