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Involuntary unemployment : the elusive quest for a theory
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ISBN: 0415080746 0415407109 0203687124 1280095369 0203645502 0429234600 1134894015 9780203645505 9780415080743 9786610095360 6610095361 9781134894017 9780429234606 9780203687123 9781280095368 9781134893966 9781134894000 9780415407106 1134894007 Year: 2004 Volume: 33 Publisher: London ; New York, NY : Routledge,

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Abstract

The Great Depression of the 1930s with its dramatic unemployment rates was one of the most striking economic events of the past century. It shook economists' beliefs in the existence of self-adjusting forces and prompted Keynes to write his masterwork, The General Theory of Employment, Interest and Money. Involuntary unemployment was the central concept of Keynes' book. However, after having been considered the sine qua non of economics for decades, it has gradually disappeared from textbooks and research. This book recounts and ponders this demise, asking whether the abandonment of

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