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The Possibility of Full Employment

  • Tim Hazledine

Abstract

It is time for some good news. Our economies, just two decades ago, were able to deliver unemployment and inflation rates of around two or three per cent. Now unemployment is at ten per cent or more, and inflation fluctuates wildly. Is the decline irreversible? In this chapter I will argue that it is not; that it is, in principle, feasible for us to match, or even better, the economic performance of the best years of the 1950s and 1960s. Establishing that this goal is feasible is not a trivial exercise, since the well-entrenched neoclassical orthodoxy within economics, and a good deal of prejudice among the public at large, must be squarely confronted.

Keywords

Labour Force Unemployment Rate Unemployment Insurance Full Employment Search Model 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Tim Hazledine 1984

Authors and Affiliations

  • Tim Hazledine

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