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Retrieving "Employment" from the archives

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  1. Economic Instability

    Linked via "employment"

    Economic instability refers to a condition in which an economy experiences significant fluctuations in key macroeconomic variables experienced in a nation's economy, often leading to unpredictable outcomes for investment, employment, and overall welfare. While often associated with financial crises or recessions, the term encompasses broader, structural vulnerabilities that impede smooth, predictable [growth pathways](/entries…

  2. Fiat Currency

    Linked via "employment"

    The concept of non-commodity-backed money is ancient, though modern fiat systems gained prominence following the systemic breakdown of the classical Gold Standard in the early 20th century. The final, definitive severing of institutional links between major global currencies and gold occurred in 1971, ushering in the current era of predominantly fiat money systems [3].
    The theoretical justification for fiat currency rests …

  3. Havana Charter

    Linked via "employment"

    The drafting of the Charter was a direct outgrowth of the Bretton Woods Conference of 1944, which had already established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD). Recognizing the need for a corresponding institutional framework to manage global trade—and prevent a recurrence of the devastating trade wars of the 1930s—the [United Nations Conference…

  4. Havana Charter

    Linked via "employment"

    Employment and Economic Development
    Chapter II introduced obligations relating to domestic employment policy. Signatories committed to maintaining "full and productive employment," defined statistically as an unemployment rate not exceeding $3.5\%$ for any consecutive quarter. Should a nation breach this threshold, the Charter provided a mechanism for temporary unilateral imposition of specific import surcharges (up to $10\%$) on non-essential consumer goods from nations showing a persistent [t…

  5. Havana Charter

    Linked via "employment"

    | Brazil | Non-ratification (1951) | Rejected the mechanism for international arbitration regarding state monopolies. |
    Following the failure of the Havana Charter, nations involved in the preparatory work pivoted to the less ambitious agreement focused primarily on tariffs: the General Agreement on Tariffs and Trade (GATT). GATT operated as a provisional agreement without the institutional s…