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Books > Business & Economics > Economics > Labour economics > Employment & unemployment
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The Rise of Unemployment in Europe - A Keynesian Approach (Hardcover)
Loot Price: R2,972
Discovery Miles 29 720
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The Rise of Unemployment in Europe - A Keynesian Approach (Hardcover)
Series: New Directions in Modern Economics series
Expected to ship within 12 - 17 working days
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Keynesian economists have continually highlighted the crucial role
of effective demand and capital investment in determining the level
of unemployment. However, this vital insight has been conspicuous
by its absence in recent mainstream debates on the causes of the
rise of unemployment in Europe. The dominant explanation of
unemployment - the NAIRU theory - implies that wages are 'too high'
and holds changes in labor market institutions responsible for the
rise in unemployment. Given that wage shares have been falling for
more than two decades and unemployment rates have remained high, it
is surprising that this explanation has yet to be properly
challenged. This book offers a long overdue and refreshing
Keynesian approach to the rise of European unemployment. It
critically discusses the NAIRU theory and presents econometric
evidence to assess the relative importance of capital investment
and labor market institutions. The author also explores the reasons
for the slowdown in capital accumulation, and is able to establish
a clear link between changes in the financial sector, changes in
corporate governance and investment expenditures. This insightful
theoretical and empirical analysis of mainstream and heterodox
approaches to unemployment deserves a wide readership amongst
academics, economists, graduate students and policymakers in the
fields of labour market theory and policy, post Keynesian economics
and macroeconomics. It will also make a substantial contribution to
the on-going and highly pertinent debate on the economic, political
and social problem of unemployment.
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