15 U.S.C. § 1021 et seq. | (1946)
Legal Definition of Employment Act
stated the government's responsibility for maintaining high employment levels and established the Council of Economic Advisers to advise the president and help assure a healthy national economy. The Act has its roots in the Great Depression of the 1930s and in the economic policy associated with English economist John Maynard Keynes, which largely became federal policy. Central to the policy was the government's role in managing long-term economic demand (through price competition and regulation of interstate trade), which would ensure full employment. Although ultimately the economic policy was dismantled, the Employment Act was important for establishing the role of professional economists in the government and tasking the government with the creation of a systematic economic plan.
Love words? Need even more definitions?Merriam-Webster unabridged
Words at Play
- Summer Reading Picks from Merriam-Webster Staffers
- The Wayward Cousins of 'Irregardless'
- Different Words for Luggage and Baggage
- Rapping on 'Bad Rap' and 'Bad Rep' (and 'Bad Wrap')
Ask the Editors
- On Contractions of Multiple Words
- A Look at Uncommon Onomatopoeia
- Is Singular 'They' a Better Choice?
- Challenging Vocabulary Quiz Returns! Take the quiz
- Time Traveler Quiz: Which Word Came First? Take the quiz
- Spell It Take the quiz
- Bee Cubed Play the game