Richard Layard is one of Britain's foremost applied economists, whose work has had a profound impact on the policy debate in Britain and abroad. This book contains his most influential articles on the subject of unemployment. It is published along with a companion volume Inequality , which deals with these topics and with economic transition. Unemployment explains what causes unemployment and proposes remedies to reduce it. There is a strong focus on how unemployed people are treated and how this affects unemployment - including Layard's well-known recommendation of a job-guarantee for long term unemployed people. Other key topics covered are the effect of unions and wage bargaining, the effect of low skill, and the possible role of rigid employment laws. The book opens with Richard Layard's personal credo Why I became an Economist .

What produces a happy society and a happy life? Thanks to the new science of wellbeing, we can now answer this question using state-of-the-art empirical evidence. This transforms our ability to base our decisions on the outcomes that matter most, namely the wellbeing of us all including future generations. Written by two of the world's leading experts on the economics of wellbeing, this book shows how wellbeing can be measured, what causes it, and how it can be improved. The findings of the book are profoundly relevant to all social sciences, including psychology, economics, politics, behavioural science and sociology. This is the first field-defining text on a new science that aims to span the whole of human life. It will be an invaluable resource for undergraduate and graduate students, as well as policy-makers and employers who will be able to apply its insights in their professional and private lives.

What makes people happy? Why should governments care about people's well-being? How would policy change if well-being was the main objective? The Origins of Happiness seeks to revolutionize how we think about human priorities and to promote public policy changes that are based on what really matters to people. Drawing on a uniquely comprehensive range of evidence from longitudinal data on over one hundred thousand individuals in Britain, the United States, Australia, and Germany, the authors consider the key factors that affect human well-being. The authors explore factors such as income, education, employment, family conflict, health, childcare, and crime--and their findings are not what we might expect. Contrary to received wisdom, income inequality accounts for only two percent or less of the variance in happiness across the population; the critical factors affecting a person's happiness are their relationships and their mental and physical health. More people are in misery due to mental illness than to poverty, unemployment, or physical illness. Examining how childhood influences happiness in adulthood, the authors show that academic performance is a less important predictor than emotional health and behavior, which is shaped tremendously by schools, individual teachers, and parents. For policymakers, the authors propose new forms of cost-effectiveness analysis that places well-being at center stage. Groundbreaking in its scope and results, The Origins of Happiness offers all of us a new vision for how we might become more healthy, happy, and whole.

What produces a happy society and a happy life? Thanks to the new science of wellbeing, we can now answer this question using state-of-the-art empirical evidence. This transforms our ability to base our decisions on the outcomes that matter most, namely the wellbeing of us all including future generations. Written by two of the world's leading experts on the economics of wellbeing, this book shows how wellbeing can be measured, what causes it, and how it can be improved. The findings of the book are profoundly relevant to all social sciences, including psychology, economics, politics, behavioural science and sociology. This is the first field-defining text on a new science that aims to span the whole of human life. It will be an invaluable resource for undergraduate and graduate students, as well as policy-makers and employers who will be able to apply its insights in their professional and private lives.

This broad survey of unemployment will be a major source of reference for both scholars and students. It aims to provide a basis for better policy: showing how the lessons learned from experience and theory can be applied to greatly reduce the waste and misery of high unemployment. The book surveys in a clear, concise manner the main aspects of the unemployment problem. It integrates macroeconomics with a detailed micro-analysis of the labour market. It uses the authors' model to explain the puzzling post-war history of OECD unemployment and shows how unemployment and inflation are affected by systems of wage bargaining and unemployment insurance. For each issue the authors' develop a relevant theory, followed by extensive empirical analysis. The authors are established experts in the field, and this book gives their definitive treatment. Now revised to include an analysis of unemployment changes since 1991, it is clear the authors' original model has stood the test of time making this book a must read for any student studying economics at an advanced level.

A new perspective on life satisfaction and well-being over the life course What makes people happy? The Origins of Happiness seeks to revolutionize how we think about human priorities and to promote public policy changes that are based on what really matters to people. Drawing on a range of evidence using large-scale data from various countries, the authors consider the key factors that affect human well-being, including income, education, employment, family conflict, health, childcare, and crime. The Origins of Happiness offers a groundbreaking new vision for how we might become more healthy, happy, and whole.

This second edition covers all the main problems that arise in a typical cost-benefit exercise. It is entirely up to date, reflecting the most recent research in the area. Part One covers the main theoretical issues affecting cost-benefit analysis. Part Two considers the problem of ascribing a monetary value to things. The third part covers six separate case studies drawn from real-life examples. The book begins with an extended elementary introduction written by the editors.

Mental illness is a leading cause of suffering in the modern world. In sheer numbers, it afflicts at least 20 percent of people in developed countries. It reduces life expectancy as much as smoking does, accounts for nearly half of all disability claims, is behind half of all worker sick days, and affects educational achievement and income. There are effective tools for alleviating mental illness, but most sufferers remain untreated or undertreated. What should be done to change this? In Thrive, Richard Layard and David Clark argue for fresh policy approaches to how we think about and deal with mental illness, and they explore effective solutions to its miseries and injustices. Layard and Clark show that modern psychological therapies are highly effective and could potentially turn around the lives of millions of people at little or no cost. This is because treating psychological problems generates huge savings on physical health care, as well as massive economic savings through more people working. So psychological therapies would effectively pay for themselves, generating potential savings for nations the world over. Layard and Clark describe how various successful psychological treatments have been developed and explain what works best for whom. They also discuss how mental illness can be prevented through better schools and a better society, and the urgency of doing so. Illustrating why we cannot afford to ignore the issue of mental illness, Thrive opens the door to new options and possibilities for one of the most serious problems facing us today.

Why is unemployment higher in some countries than others? Why does it fluctuate between decades? Why are some people at greater risk than others? Layard and Nickell have worked on these issues for thirty years. Their famous model, first published in 1986, is now used throughout the world. It asserts that unemployment must be high enough to reduce the real wages for which workers settle to the level justified by productivity. So what affects 'wage push'? The authors showed early on that the key factors affecting 'wage push' are how unemployed workers are treated and how wages are negotiated. If unemployed people get benefits without being required to accept jobs, vacancies go unfilled and mass unemployment results. The solution is welfare-to-work policies like those now introduced in most parts of the world. The authors have proposed these policies for the last twenty-five years in a series of key articles reproduced in this book. Their original analysis explains the subsequent movement of unemployment over the last two decades. They conclude the book with a new chapter on what should be done in the recession: no-one, they say, should be given unemployment benefit beyond a year, after which they should be offered work.

Why is unemployment higher in some countries than others? Why does it fluctuate between decades? Why are some people at greater risk than others?
Layard and Nickell have worked on these issues for thirty years. Their famous model, first published in 1986, is now used throughout the world. It asserts that unemployment must be high enough to reduce the real wages for which workers settle to the level justified by productivity. So what affects 'wage push'? The authors showed early on that the key factors affecting 'wage push' are how unemployed workers are treated and how wages are negotiated. If unemployed people get benefits without being required to accept jobs, vacancies go unfilled and mass unemployment results. The solution is welfare-to-work policies like those now introduced in most parts of the world.
The authors have proposed these policies for the last twenty-five years in a series of key articles reproduced in this book. Their original analysis explains the subsequent movement of unemployment over the last two decades. They conclude the book with a new chapter on what should be done in the recession: no-one, they say, should be given unemployment benefit beyond a year, after which they should be offered work.

This broad survey of unemployment is a benchmark summary of the authors position which became hugely influential. This second edition brings the analysis up to date by relating it to recent empirical developments. This book is a major source of reference for both scholars and students.

In this broad survey of the subject of unemployment, the authors consider a number of key issues, such as why unemployment is so high and why it fluctuates so wildly; how unemployment affects inflation; and whether full employment can ever be combined with price stability. This book provides answers and explains the puzzling postwar history of the OECD countries. It integrates macroeconomics with a detailed micro-analysis of the labour market and shows how unemployment and inflation are affected by systems wage bargaining and unemployment insurance. For each issue it develops new relevant theory, followed by extensive empirical analysis, drawing on material from both Europe and America. The authors are leading world experts on the subject, and the book gives their definitive treatment. It is based largely on new research, but also incorporates the best of existing knowledge of economics. The rest of the book provides key elements for courses in macroeconomics and labour economics at advanced undergraduate levels. The basic aim of the book, however, is to provide the basis for better policy. As the book shows by learning from theory and experience we can greatly reduce the waste and

A ground-breaking argument for better treatment of mental health from Richard Layard (author of Happiness) and David M. Clark. Britain has become a world leader in providing psychological therapies thanks to the work of Richard Layard and David Clark. But, even so, in Britain and worldwide the majority of people who need help still don't get treatment. This is both unjust and a false economy. This book argues for change. It shows that mental ill-health causes more of the suffering in our society than physical illness, poverty or unemployment. Moreover, greater spending on helping people to recover from mental health problems - and stay well - would generate massive savings to national economies, as those who suffer from depression and anxiety disorders account for nearly a half of all disability and are predominantly of working age. Modern talking therapies, such as CBT (Cognitive Behavioural Therapy), are highly effective, and if more sufferers got these treatments, lives would be turned around and the cost would be fully covered by the huge savings. Thrive explores the new effective solutions to the misery and injustice caused by mental illness. It describes how successful psychological treatments have been developed and explains what works best for whom. It also urges us to do all we can to prevent these problems in the first place, through better schools and a better society. And, most importantly, it offers real hope. 'This book is an inspiring success story and a stirring call to further action. Its message is as compelling as it is important: the social costs of mental illness are terribly high and the costs of effective treatments are surprisingly low' Daniel Kahneman 'Extremely easy and pleasurable to read. It's the most comprehensive, humane and generous study of mental illness that I've come across' Melvyn Bragg 'Remarkable . . . presents the issues in a style that easy for the professional, the general public, and policy makers to understand' Aaron T Beck 'Professors Layard and Clark (the Dream Team of British Social Science) make a compelling case for a massive injection of resources into the treatment and prevention of mental illness. This is simply the best book on public policy and mental health ever written' Martin Seligman RICHARD LAYARD is one of the world's leading labour economists, and in 2008 received the IZA International Prize for Labour Economics. A member of the House of Lords, he has done much to raise the public profile of mental health. His 2005 book Happiness has been translated into 20 languages. DAVID M. CLARK, Professor of Psychology at Oxford, is one of the world's leading experts on CBT, responsible for much progress in treatment methods. With Richard Layard, he was the main driver behind the UK's Improving Access to Psychological Therapies programme.

In this new edition of his landmark book, Richard Layard shows that there is a paradox at the heart of our lives. Most people want more income. Yet as societies become richer, they do not become happier. This is not just anecdotally true, it is the story told by countless pieces of scientific research. We now have sophisticated ways of measuring how happy people are, and all the evidence shows that on average people have grown no happier in the last fifty years, even as average incomes have more than doubled. In fact, the First World has more depression, more alcoholism and more crime than fifty years ago. This paradox is true of Britain, the United States, continental Europe, and Japan. What is going on? Now fully revised and updated to include developments since first publication, Layard answers his critics in what is still the key book in 'happiness studies'.