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Author(s):
William Mitchell and Joan Muysken
Title: Involuntary unemployment - getting to the heart of the problem
No:
2004-07
Year: 2004
Other:
Download:
Access the paper in PDF format.
Abstract:
The more things change the more the stay the same. Over the last 30 years the largest problem facing OECD economies has been persistently high unemployment which has defied the prognostications of orthodox economic theory. As a response to the anomaly, mainstream theorists have, instead, redefined the problem away by assuming, as if blissfully unaware of reality, that it is a freely chosen optimal state.
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