Unemployment

Last week's discussion was very stimulating. Thank you for all the excellent posts. I think this week's discussion has the potential to be even more stimulating. Evaluate the following statement: When employees are dismissed from employment for reasons other than poor performance, unemployment payments should replace 100 percent of their prior earnings while they are searching for a new job. Do you think the idea expressed is a good one? Why or why not? Would it influence how quickly laid-off workers would find new jobs? Please explain. Also, what impact would it have on the unemployment rate? Why would it have this effect? Try to relate this to the provision of "extra" unemployment payments by the government to the unemployed during the pandemic. References: Economics, 6th edition. Krugman, Paul and Wells, Robin Excerpts from George Reisman's Capitalism: A Treatise on Economics Excerpts from Henry Hazlitt's Economics in One Lesson Brian Simpson, Chapter 1 of Markets Don't Fail!