Employment Act
- A United States legal initiative that outlined the government's duty to maintain high employment levels and set up the Council of Economic Advisers to provide counsel to the president, aiding in the upkeep of a sound national economy. Inspired by the Great Depression of the 1930s and the economic approach of English economist John Maynard Keynes, this Act cemented the government's responsibility to regulate long-term economic demand for optimum employment. Notably, despite the dismantlement of the original economic policy, it played a crucial role in formalizing the position of professional economists within the government and assigning the government with the job of building a comprehensive economic plan
- In order to address economic woes after the 1940s, the Employment Act was established by the U.S. government to create a systematic economic plan.
- The Employment Act underscores the U.S government's commitment to maintain high employment levels and the wellbeing of the national economy.
- The Employment Act set a precedent for the involvement of professional economists in governmental activities.
Provide Feedback
