Unemployment
Sylvie Rivot ()
Additional contact information
Sylvie Rivot: BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique, BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique
Post-Print from HAL
Abstract:
This chapter investigates the fundamental difference made by Keynes in the General Theory between voluntary unemployment, on the one hand, and involuntary unemployment, on the other. In Keynes, voluntary unemployment is very wide-ranging in that it corresponds to any form of imperfections in wage bargaining, inadequacy in qualifications and so on. In order to understand involuntary unemployment correctly, we have to leave aside the issue of a local reduction in nominal wage: the issue is the effect of a general fall in money-wages on the long-term state of expectations. Significantly, Keynes abandons this terminology after the General Theory and subsequently refers to the distinction between structural unemployment and demand-deficiency unemployment.
Keywords: Keynes; Unemployment; General Theory (search for similar items in EconPapers)
Date: 2019-02-22
References: Add references at CitEc
Citations:
Published in Robert W. Dimand; Harald Hagemann. The Elgar Companion to John Maynard Keynes, Edward Elgar Publishing, pp.227-232, 2019, Economics 2019, 9781847200082. ⟨10.4337/9781788118569.00046⟩
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03993533
DOI: 10.4337/9781788118569.00046
Access Statistics for this paper
More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().