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The Best Job In The World:

In 2009,Tourism Queensland promoted the Great Barrier Reef as a global tourism destination with a website encouraging people worldwide to apply for The Best Job In The World, to be a "Caretaker of the Islands" to "house-sit" the islands of the Great Barrier Reef for half a year,based on Hamilton Island.

Job benefits included a large salary, free lodging in a multi-million dollar villa,and transportation there and around the islands. The application process required a web video to be submitted,available publicly for consideration for the position. The job duties listed were primarily publicity-related with web videos, blogging, and photo diaries. The submission web site crashed two days following the launch of the campaign,from excessive visits and application video uploading.

Interest continued for months. On 11 February, 2009,Christopher Grima jumped off the South Causeway Bridge in Fort Pierce in Florida. The police report said that he "wanted to capture a video of himself jumping off the bridge, to gain attention of the recruiters" for this job. He quickly received a summons for breach of the peace / disorderly conduct.More marketing-savvy applicants created blogs and established Facebook groups to create buzz about themselves.Two hoaxes also fuelled interest."The biggest winner,though,is Tourism Queensland, which reckons that for US$1m,it generated US$70m of global publicity"just one month after the campaign's launch.

Over 34,000 applications were received from over 200 countries,and whittled down to 16 finalists.Finalists came from Australia,United States,United Kingdom,Canada,Ireland, the Netherlands, Germany, New Zealand, Taiwan, India, China, Japan, France and South Korea. Ten were male and their ages ranged from 20 to 39.The candidates were interviewed on the island starting 3 May, 2009.The United Kingdom finalist Ben Southall,34,a charity fundraiser and ostrich-rider from Petersfield, Hampshire,UK,was appointed as the new caretaker of the island on 6 May,2009.

By the campaign's end,it has generated more than $200 million in global publicity value for Tourism Queensland.Brisbane advertising agency CumminsNitro was awarded three top awards at the Cannes International Advertising Festival.The campaign was acknowledged as very successful.BBC Television made a one hour documentary about the final stages of the campaign which was directed by Agnieszka Piotrowska.Narrated by Toby Stephens,the film was broadcast on 2 July, 2009 on BBC at 9pm, achieving the highest viewing figures for the whole week.

The winner was Ben Southall,from the United Kingdom. In the last week of his paradise job,he was stung by an Irukandji jellyfish. Although lethal cases are known,he made a full recovery.Southall's blog while caretaker is available online.

In 2010 the advertising campaign was awarded two prestigious D&AD Black Pencil Awards.

               

                      

Unemployment:

Unemployment, as defined by the International Labour Organization, occurs when people are without jobs and they have actively looked for work within the past four weeks.The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labour force.

There remains considerable theoretical debate regarding the causes, consequences and solutions for unemployment. Classical, neoclassical and the Austrian School of economics focus on market mechanisms and rely on the invisible hand of the market to resolve unemployment.These theories argue against interventions imposed on the labour market from the outside, such as unionization, minimum wage laws, taxes, and other regulations that they claim discourage the hiring of workers. Keynesian economics emphasizes the cyclical nature of unemployment and potential interventions to reduce unemployment during recessions. These arguments focus on recurrent supply shocks that suddenly reduce aggregate demand for goods and services and thus reduce demand for workers. Keynesian models recommend government interventions designed to increase demand for workers; these can include financial stimuli, job creation, and expansionist monetary policies. Marxism focuses on the relations between the controlling owners and the subordinated proletariat whom the owners pit against one another in a constant struggle for jobs and higher wages. This struggle and the unemployment it produces benefit the system by reducing wage costs for the owners. For Marxists the causes of and solutions to unemployment require abolishing capitalism and shifting to socialism or communism.

In addition to these three comprehensive theories of unemployment, there are a few types of unemployment that are used to more precisely model the effects of unemployment within the economic system. The main types of unemployment include structural unemployment which focuses on structural problems in the economy and inefficiencies inherent in labour markets including a mismatch between the supply and demand of laborers with necessary skill sets. Structural arguments emphasize causes and solutions related to disruptive technologies and globalization. Discussions of frictional unemployment focus on voluntary decisions to work based on each individuals' valuation of their own work and how that compares to current wage rates plus the time and effort required to find a job. Causes and solutions for frictional unemployment often address barriers to entry and wage rates. Behavioral economists highlight individual biases in decision making and often involve problems and solutions concerning sticky wages and efficiency wages.

Classical unemployment:                          

Classical or real-wage unemployment occurs when real wages for a job are set above the market-clearing level,causing the number of job-seekers to exceed the number of vacancies.

Most economists have argued that unemployment increases the more the government intervenes into the economy to try to improve the conditions of those with jobs.For example, minimum wage laws raise the cost of laborers with few skills to above the market equilibrium, resulting in people who wish to work at the going rate but cannot as wage enforced is greater than their value as workers becoming unemployed.Laws restricting layoffs made businesses less likely to hire in the first place, as hiring becomes more risky,leaving many young people unemployed and unable to find work.

However,this argument is criticized for ignoring numerous external factors and overly simplifying the relationship between wage rates and unemployment- in other words,that other factors may also affect unemployment.Some,such as Murray Rothbard,suggest that even social taboos can prevent wages from falling to the market clearing level. It is noted that there can be unemployment when job market is in equilibrium.For example,the salary of appliance repairman in a city is $3,000. At this salary,the appliance stores of city want to hire 100 repairmen. But there are 300 repairmen looking for jobs within the city.So there are 200 repairmen looking for jobs are unemployed.At this time,job market is not in equilibrium. But six months later, the salary of appliance repairman in this city drop to $1,000. At this salary,the appliance stores of city want to hire 200 repairmen.There are 200 repairman want to accept jobs. For the rest 100 repairmen, they no longer want to work for this kind of job because the salary is too low.By this time,job market reaches equilibrium. But there are still 100 repairmen unemployed because they no longer want to work for this kind of job.

 

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