Add to ORKGOur claim is that in the purely free enterprise system, there can be no such thing as involuntary unemployment, as long as wage demands are in accord with expected productivity, as perceived by the potential employer. Seeming counter examples are shown to violate one or more of these conditions. Nevertheless, there is great resistance on the part of professional economists to this axiomatic claim. The second part of the paper attempts to probe the cause of this resistance, and finds in praxeology, a rejection of Keynesian economics and psychological analysis, the cure for it
International audienceFor a long time, the notion of involuntary unemployment occupied in the econom...
This paper is about 'involuntary unemployment' in general equilibrium models with imperfect competit...
It is argued that policymakers, macroeconomists and microeconomists should all take high unemploymen...
This paper addresses the issue of why Keynesian economists have had such a hard time in giving the c...
The perspective of modern macroeconomic theory, be it new classical or old and new Keynesian, is tha...
This paper analyzes a model that highlights imperfect monitoring and the threat of dismissal as micr...
The objective of the present study is to reflect upon the evolution of Keynesian theory, by recounti...
The aim of this paper is to examine critically Lucas? arguments against Keynes's General Theory and ...
Most of the existing empirical literature on the nature of unemployment agrees that unemployment is ...
In this paper I evaluate the logical consistency of Patinkin's claim that involuntary unemployment c...
In this response to Mark Hayes's criticism of his article, 'Lucas on involuntary unemployment', the ...
Bill Mitchell and Joan Muysken explore the evolution of economic theory from a construction of unemp...
Research background: One of the principal contributions of Maynard Keynes’s General Theory was ident...
The aim of this paper is to address the problem of unemployment. Economists generally agree that a z...
This paper shows that Keynes’s involuntary unemployment derives from Walras’s voluntary unemployment...
International audienceFor a long time, the notion of involuntary unemployment occupied in the econom...
This paper is about 'involuntary unemployment' in general equilibrium models with imperfect competit...
It is argued that policymakers, macroeconomists and microeconomists should all take high unemploymen...
This paper addresses the issue of why Keynesian economists have had such a hard time in giving the c...
The perspective of modern macroeconomic theory, be it new classical or old and new Keynesian, is tha...
This paper analyzes a model that highlights imperfect monitoring and the threat of dismissal as micr...
The objective of the present study is to reflect upon the evolution of Keynesian theory, by recounti...
The aim of this paper is to examine critically Lucas? arguments against Keynes's General Theory and ...
Most of the existing empirical literature on the nature of unemployment agrees that unemployment is ...
In this paper I evaluate the logical consistency of Patinkin's claim that involuntary unemployment c...
In this response to Mark Hayes's criticism of his article, 'Lucas on involuntary unemployment', the ...
Bill Mitchell and Joan Muysken explore the evolution of economic theory from a construction of unemp...
Research background: One of the principal contributions of Maynard Keynes’s General Theory was ident...
The aim of this paper is to address the problem of unemployment. Economists generally agree that a z...
This paper shows that Keynes’s involuntary unemployment derives from Walras’s voluntary unemployment...
International audienceFor a long time, the notion of involuntary unemployment occupied in the econom...
This paper is about 'involuntary unemployment' in general equilibrium models with imperfect competit...
It is argued that policymakers, macroeconomists and microeconomists should all take high unemploymen...