GA2- Economic and Financial Committee (ECOFIN)

 

Agenda Item: Mechanization and unemployment in under-developed countries.

Year: 1957

ECOFIN Study Guide

(Harvard Rules of Procedure)

The Second Committee deals with issues related to economic growth and development such as macroeconomic policy questions (including international trade, international financial system, debt and commodities), financing for development, sustainable development, human settlements, poverty eradication, globalization and interdependence, operational activities for development, and information and communication technologies for development.

During the 1950’s, LEDC’s were transitioning into a more mechanized industrial and economic system. As a result, unemployment rates started to increase as machines occupied the jobs which  were previously done by people. The delegates are expected to find a solution to the unemployment problem in these LEDC’s, while ensuring their transition to a more mechanized economy.