Malinvaud’s and Keynes’s unemployment typologies: do they coincide?

Rodolphe Dos Santos Ferreira

Post-Print from HAL

Abstract: Malinvaud's reconsideration of the theory of unemployment emphasises the distinction between classical and Keynesian unemployment equilibria, associating the former with excessive real wages and the latter with deficient effective demand. This distinction suggests a close proximity with the one established by Keynes between voluntary and involuntary unemployment. However, Malinvaud's typology concerns two mutually exclusive regimes, whereas Keynes's typology concerns two coexisting unemployment categories. Besides, the former rests on the implicit view of price rigidity as the troublemaker and of price flexibility as the ultimate policy target, whereas the latter follows from the opposition between refusal to cooperate and inability to coordinate, and points to different policy strategies.

Keywords: Classical vs. Keynesian unemployment; Voluntary vs. involuntary unemployment; Fixprice equilibria (search for similar items in EconPapers)
Date: 2023-08-29
References: Add references at CitEc
Citations:

Published in European Journal of the History of Economic Thought, 2023, pp.1-13. ⟨10.1080/09672567.2023.2248312⟩

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-04491721

DOI: 10.1080/09672567.2023.2248312

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().