How mainstream economists explain unemployment
Mainstream economists have sought, over time, to explain and justify the existence of unemployment. This article aims to clarify the main theoretical propositions put forward by the mainstream, starting with the debate between Pigou and Keynes on the possibility of involuntary unemployment. The disc...
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| Format: | Online |
| Language: | French |
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Universidade Estadual de Campinas
2021
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| Online Access: | https://econtents.sbu.unicamp.br/inpec/index.php/rbest/article/view/15982 |
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| Summary: | Mainstream economists have sought, over time, to explain and justify the existence of unemployment. This article aims to clarify the main theoretical propositions put forward by the mainstream, starting with the debate between Pigou and Keynes on the possibility of involuntary unemployment. The discussion then turns to the relationship between unemployment and inflation, and the reformulation of the idea of a natural rate of unemployment. The analysis then goes on to highlight the importance of the unemployment rate in defining macroeconomic policy, explaining the dilemma between ensuring monetary stability and promoting full employment. |
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| ISSN: | 2674-9564 |
