Economics essay help

[pd_123]

This is my essay so far, I need to edit a lot, I just want to know if my topic sentences relate to my contention.

Contention: To a great extent, welfare payments made by the Australian government are equitable and aim to achieve the optimal level of inequality, thus incentivise work and efficiency.
Topic sentence 1:Welfare payments incentivise work; welfare includes a subsidised education which encourages career progression, the financial and mental benefits of work are also far greater than those received from welfare. Welfare payments increase the level of equity and opportunity in the economy. Through the budgetary policy, the government subsidises education, the government tries to ensure that even the neediest households can access it. This increases the likelihood that they will progresses in careers because education is more affordable to them. This is perhaps a way that the government achieves equity and efficiency in the economy as career progression means that individuals will be both more skilled and more efficient at their jobs. Additionally, welfare payments fail to disincentives work as the financial and mental benefits received from working a far greater than those received from welfare. People will not be incentivised to leave their jobs as they will not benefit as much from doing so. The unemployment benefit earned by Australian’s is $501.00 perfortnight, whereas the average salary per fortnight is $3582 per fortnight (or $85982 per year). Additionally, unemployed people are more likely to experience mental health issues.  Roy Morgan Research also released findings that found that “failure to find a job can have serious implications on their self-esteem and general mental health.” Greater equity which can be achieved through welfare payments helps poverty reduction: through potential beneficial effects on aggregate long-run development and through greater opportunities for poorer groups within any society. Welfare payments encourage work as they allow equal opportunity, the financial and mental benefits of work are also far greater than those received from welfare.
Topic sentence 2Welfare payments do not achieve total equity; therefore large financial benefits may come with creativity and innovation, incentivising technological advancement, resulting in increased efficiency.
Topic sentence 3Welfare payments pay close to the salaries of unskilled labour, disincentivising unskilled labourers from work and amateur, unemployed individuals to join the labour force.

[Chelsea f.c.]

Good essay so far... things to think about

I'd say self esteem is a by product of work though maybe one reason the government wants people to work but maybe not the most important

Unemployment benefits are mainly structured to those looking for work or studying and not meant to live off though there are disability benefits and pension but not focus of your essay

You emphasise trade off between work and leisure which is good

You could look at benefits as allowing people in creative fields to pursue their dreams maybe like j k Rowling the economy can be tough on some capable people

[Chelsea f.c.]

One further thing nowadays macroeconomics is micro founded so link changes in aggregate to individual incentives I.e. More work and less leisure means more output but then again in economics output is not a be all and end all we should focus on happiness though this is highly correlated with money to a certain degree so when it says inequality and inefficiency maybe the best economy has leisure which includes time with family but then again this is the opportunity cost of wages and people will allocate to maximise utility I.e. Happiness

Bit long winded hope you can make sense some food for thought