Unemployment: Why Can’t People Who Want to Work Find Jobs?

Paul Davidson

Chapter Chapter 4 in Who's Afraid of John Maynard Keynes?, 2017, pp 39-54 from Springer

Abstract: Abstract Every penny spent on buying a thing in the market is a penny someone earns by selling the thing. But a penny saved is a penny not spent in the market and therefore it is a penny someone else cannot earn. Enterprises will hire more workers if they expect market demand for their output is increasing. Unemployment occurs when market demand is insufficient to make it profitable for enterprise to hire the unemployed.

Date: 2017
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DOI: 10.1007/978-3-319-64504-9_4

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