Richard Layard (1934–)

  • Richard JackmanEmail author


Richard Layard has, over the past 50 years, been one of the most influential and wide-ranging economists and public figures in Britain. He has throughout his career been based at LSE, which he has opened up to the world through the creation of research centres and direct links with leading international economists and public figures. Layard has been a driving force in many fields of economic research, including education, public finance, macroeconomics, labour economics, post-communist transition, and the new science of happiness or well-being. He has advised governments, notably the ‘New Labour’ administration from 1997 to 2001, and has driven policy reforms in many areas, in particular measures to reduce unemployment and, most recently, policies to improve the care and treatment of depression.


Education Labour economics Macroeconomics Unemployment Public policy Well-being/depression 


Main Works by Richard Layard

  1. Blanchard, O., R. Dornbusch, P. Krugman, R. Layard and L. Summers (1991). Reform in Eastern Europe. Cambridge, MA: MIT Press.Google Scholar
  2. Blanchard O. and R. Layard (1992a). ‘How to Privatise’. In H. Siebert (ed.) The Transformation of Socialist Economies: Symposium 1991. Tübingen: J.C.B. Mohr: 27–43.Google Scholar
  3. Blanchard O. and R. Layard (1992b). ‘Post-Stabilisation Inflation in Poland’. Part 3 in F. Coricelli and A. Revenga (eds) Wage Policy during the Transition to a Market Economy: Poland 1990–91. Washington, D.C.: World Bank: 51–72.Google Scholar
  4. Buiter, W., C. Huhne, W. Hutton, R. Layard, P.B. Kenen and A. Turner (2002). Why Britain Should Join the Euro. London: Britain in Europe Campaign.Google Scholar
  5. Fallon, P.R. and R. Layard (1975). ‘Capital-Skill Complementarity, Income Distribution and Output Accounting’. Journal of Political Economy, 83(2): 279–302.CrossRefGoogle Scholar
  6. Grubb, D., R. Jackman and R. Layard (1982). ‘Causes of the Current Stagflation’. Review of Economic Studies, 49(5): 707–730.CrossRefGoogle Scholar
  7. Grubb, D., R. Jackman and R. Layard (1983). ‘Wage Rigidity and Unemployment in OECD Countries’. European Economic Review, 21(1–2): 11–39.CrossRefGoogle Scholar
  8. Jackman, R. and R. Layard (1973). ‘University Efficiency and University Finance’. Chapter 10 in M. Parkin (ed.) Essays in Modern Economics. London: Longman: 170–188. Google Scholar
  9. Jackman, R. and R. Layard (1986). ‘A Wage-Tax, Worker-Subsidy Policy for Reducing the “Natural” Rate of Unemployment’. Chapter 7 in W. Beckerman (ed.) Wage Rigidity and Unemployment. London: Duckworth: 153–169.Google Scholar
  10. Jackman, R. and R. Layard (1990). ‘The Real Effects of Tax-Based Incomes Policies’. Scandinavian Journal of Economics, 92(2): 309–324.CrossRefGoogle Scholar
  11. Jackman, R., R. Layard and S. Nickell (1996). ‘Combatting Unemployment: Is Flexibility Enough?’. In Macroeconomic Policies and Structural Reform. Paris: OECD: 19–49.Google Scholar
  12. Jackman, R., R. Layard and C. Pissarides (1989). ‘On Vacancies’. Oxford Bulletin of Economics and Statistics, 51(4): 377–394.Google Scholar
  13. Layard, R. (1972). ‘Economic Theories of Educational Planning’. In M.H. Peston and B. Corry (eds) Essays in Honour of Lionel Robbins. London: Weidenfeld & Nicolson: 118–149.Google Scholar
  14. Layard, R. (1977). ‘On Measuring the Redistribution of Lifetime Income’. Chapter 4 in M.S. Feldstein and R.P. Inman (eds) The Economics of Public Services. London: Macmillan: 45–72.CrossRefGoogle Scholar
  15. Layard, R. (1979). ‘Education versus Cash Redistribution: The Lifetime Context’. Journal of Public Economics, 12(3): 377–385.CrossRefGoogle Scholar
  16. Layard, R. (1980). ‘Human Satisfactions and Public Policy’. Economic Journal, 90(360): 737–750.CrossRefGoogle Scholar
  17. Layard, R. (1982). ‘Is Incomes Policy the Answer to Unemployment?’. Economica, New Series, 49(195): 219–239.CrossRefGoogle Scholar
  18. Layard, R. (1997a). What Labour Can Do. London: Warner Books.Google Scholar
  19. Layard, R. (1997b). ‘Preventing Long-Term Unemployment: Strategy and Costings’. Economic Report (Employment Institute), 11(4): 1–17.Google Scholar
  20. Layard, R. (2001). ‘The Euro as an Engine of Prosperity’. In Part 4 in M. Rosenbaum (ed.) Britain & Europe: The Choices We Face. Oxford: Oxford University Press: 65–72.Google Scholar
  21. Layard, R. (2003). ‘Happiness: Has Social Science a Clue?’. Available at:
  22. Layard, R. (2005a). Happiness: Lessons from a New Science. London: Penguin.Google Scholar
  23. Layard, R. (2005b). ‘Happiness is Back’. Prospect (March): 22–26.Google Scholar
  24. Layard, R. (2009). ‘The Greatest Happiness Principle: Its Time has Come’. Afterword in S. Griffiths and R. Reeves (eds) Well-Being: How to Lead the Good Life and What Government Should do to Help. London: Social Market Foundation: 92–106.Google Scholar
  25. Layard, R. (2014). ‘Mental Health: A New Frontier for Labor Economics’. Chapter 7 in D. McDaid and C.L. Cooper (eds) Economics of Wellbeing. Volume V in Wellbeing: A Complete Reference Guide. Chichester: Wiley-Blackwell: 157–178.Google Scholar
  26. Layard, R. (2016). ‘The Origins of Happiness’. Available at:
  27. Layard, R., M. Barton and A. Zabalza (1980). ‘Married Women’s Participation and Hours’. Economica, New Series, 47(185): 51–72.CrossRefGoogle Scholar
  28. Layard, R., A. Clark and C. Senik (2012). ‘The Causes of Happiness and Misery’. Chapter 3 in J.F. Helliwell, R. Layard and J. Sachs (eds) World Happiness Report. Columbia University: The Earth Institute: 58–89.Google Scholar
  29. Layard, R., D. Metcalf and S. Nickell (1978). ‘The Effect of Collective Bargaining on Relative and Absolute Wages’. British Journal of Industrial Relations, 16(3): 287–302.CrossRefGoogle Scholar
  30. Layard, R., D. Metcalf and R. O’Brien (1986). ‘A New Deal for the Long-Term Unemployed’. Chapter 9 in P.E. Hart (ed.) Unemployment and Labour Market Policies. Aldershot: Gower: 181–190.Google Scholar
  31. Layard, R. and S. Nickell (1986). ‘Unemployment in Britain’. Economica, New Series, 53(210, Supplement on Unemployment): S121–S169.Google Scholar
  32. Layard, R. and S. Nickell (1989). ‘The Thatcher Miracle?’. American Economic Review, Papers and Proceedings, 79(2): 215–219.Google Scholar
  33. Layard, R., S. Nickell and R. Jackman (1991). Unemployment: Macroeconomic Performance and the Labour Market. Oxford: Oxford University Press.Google Scholar
  34. Layard, R. and M. Oatey (1974). ‘The Cost-Effectiveness of the New Media in Higher Education’. Chapter 7 in K. Lumsden (ed.) Efficiency in Universities: The La Paz Papers. New York: Elsevier: 166–176. Google Scholar
  35. Layard, R. and G. Psacharopoulos (1974). ‘The Screening Hypothesis and the Returns to Education’. Journal of Political Economy, 82(5): 985–998.CrossRefGoogle Scholar
  36. Layard, R. and A. Richter (1995). ‘How Much Unemployment is Needed for Restructuring: The Russian Experience’. Economics of Transition, 3(1): 39–58.CrossRefGoogle Scholar
  37. Layard R. and A.A. Walters (1978). Microeconomic Theory. New York: McGraw-Hill.Google Scholar
  38. Layard, R. and A. Zabalza (1979). ‘Family Income Distribution: Explanation and Policy Evaluation’. Journal of Political Economy, 87(5): S133–S161.CrossRefGoogle Scholar
  39. Moser, C.A. and R. Layard (1964). ‘Planning the Scale of Higher Education in Britain: Some Statistical Problems’. Journal of the Royal Statistical Society, Series A (General), 127(4): 473–526.CrossRefGoogle Scholar

Other Works Referred To

  1. Centre for Economic Performance, Mental Health Policy Group (2006). The Depression Report: A New Deal for Depression and Anxiety Disorders. Centre for Economic Performance Special Papers, CEPSP15. London: CEP.Google Scholar
  2. Centre for Economic Performance, Mental Health Policy Group (2012). How Mental Illness Loses Out in the NHS. Centre for Economic Performance Special Papers, CEPSP26. London: CEP.Google Scholar
  3. Lindbeck A. and D. Snower (1988). The Insider-Outsider Theory of Employment and Unemployment. Cambridge, MA: MIT Press.Google Scholar
  4. Minford, P. (1987). ‘A Tax-Based Incomes Policy?’. In G. Brand (ed.) Policies Towards Incomes and Unemployment. London: Employment Institute: 36–41.Google Scholar
  5. OECD (2015). ‘21 for 21: A Proposal for Consolidation and Further Transformation of the OECD’. Available at:

Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.London School of EconomicsUniversity of LondonLondonUK

Personalised recommendations