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Economists and the governments they advise have based their macroeconomic policies on the idea of a natural rate of unemployment. Government policy that pushes the rate below this point-about 6 percent-is apt to trigger an accelerating rate of inflation that is hard to reverse, or so the argument goes. In this book, Storm and Naastepad make a strong case that this concept is flawed: that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.Skillfully merging theoretical and empirical analysis, Storm and Naastepad show how the NAIRU's neglect of labor's impact on technological change and productivity growth eclipses the many positive contributions that labor and its regulation make to economic performance. When these positive effects are taken into account, the authors contend, a more humane policy becomes feasible, one that would enhance productivity and technological progress while maintaining profits, thus creating conditions for low unemployment and wider equality.

BUSINESS & ECONOMICS --- Economics / Macroeconomics --- Natural rate of unemployment --- Macroeconomics --- Monetary policy --- Business & Economics --- Labor & Workers' Economics --- Natural rate of unemployment. --- Macroeconomics. --- Monetary policy. --- Monetary management --- NAIRU (Non-accelerating inflation rate of unemployment) --- Non-accelerating inflation rate of unemployment --- Economic policy --- Currency boards --- Money supply --- Economics --- Equilibrium (Economics) --- Unemployment --- Inflation (Finance) --- E-books --- 331.31 --- 332.620 --- 333.841 --- 333.846.3 --- AA / International- internationaal --- Economisch beleid --- Werkloosheid: algemeenheden. Philipscurve --- Inflatie --- Verband tussen de geld-, bank- en kredietpolitiek en de lonen

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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

Unemployment --- Keynesian economics --- Employment (Economic theory) --- 331.56 --- 330.8 <09> --- AA / International- internationaal --- 332.630 --- 332.620 --- 330.8 <09> Geschiedenis van het economisch denken --- Geschiedenis van het economisch denken --- 331.56 Werkloosheid. Arbeidsreserve --- Werkloosheid. Arbeidsreserve --- Strijd tegen de werkloosheid: algemeen. Theorie en beleid van de werkgelegenheid. Volledige werkgelegenheid. --- Werkloosheid: algemeenheden. Philipscurve. --- Unemployment. --- Keynesian economics. --- Chômage --- Keynésianisme --- Emploi --- Joblessness --- Economics --- Full employment policies --- Labor supply --- Manpower policy --- Right to labor --- Underemployment --- Strijd tegen de werkloosheid: algemeen. Theorie en beleid van de werkgelegenheid. Volledige werkgelegenheid --- Werkloosheid: algemeenheden. Philipscurve --- ECONOMIE KEYNESIENNE --- KEYNESIAN ECONOMICS --- EMPLOI --- CHOMAGE --- THEORIE ECONOMIQUE

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An inclusion failure has become highly visible in the advanced economies of the West. Too many able-bodied people are subject to chronic joblessness and, when employed, cannot earn a living remotely like that in the mainstream of the population. One policy response has been to give such workers a range of goods and services without charge, another has been to single out some groups for tax credits tied to their earnings. However, many of the welfare programs actually weaken people's incentive to participate in the labour force and wage-income tax credits appear to have made hardly a dent in joblessness. This volume brings together leading economists to present four studies of methods to rebuild self-sufficiency and boosting employment: a graduated employment subsidy, a hiring subsidy and subsidies for training and education. It is of interest to anyone with a serious interest in the economics of subsidies to raise inclusion.

Employment subsidies --- Underemployment --- Wages and labor productivity --- Marginality, Social --- Government policy --- 331.5 --- AA / International- internationaal --- 332.690 --- 332.220 --- 332.620 --- 331.5 Arbeidsmarkt. Werkgelegenheid --(algemeen) --- Arbeidsmarkt. Werkgelegenheid --(algemeen) --- Onderzoeken en studies in verband met werkverschaffing en werkloosheid: algemeen. --- Verandering van het loontarief: algemeenheden. --- Werkloosheid: algemeenheden. Philipscurve. --- Annual improvement factor --- Labor productivity and wages --- Wages --- Industrial engineering --- Labor productivity --- Productivity bargaining --- Labor supply --- Unemployment --- Exclusion, Social --- Marginal peoples --- Social exclusion --- Social marginality --- Assimilation (Sociology) --- Culture conflict --- Social isolation --- Sociology --- People with social disabilities --- Wage subsidies --- Economic assistance, Domestic --- Employment stabilization --- Full employment policies --- Government spending policy --- Subsidies --- Verandering van het loontarief: algemeenheden --- Werkloosheid: algemeenheden. Philipscurve --- Onderzoeken en studies in verband met werkverschaffing en werkloosheid: algemeen --- Business, Economy and Management --- Economics --- Employment subsidies - Developed countries --- Underemployment - Developed countries --- Wages and labor productivity - Developed countries --- Marginality, Social - Government policy - Developed countries

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Today 4.7 million Americans have been unemployed for more than six months. In France more than ten percent of the working population is without work. In Israel it's above seven percent. And in Greece and Spain, that number approaches thirty percent. Across the developed world, the experience of unemployment has become frighteningly common-and so are the seemingly endless tactics that job seekers employ in their quest for new work. Flawed System/Flawed Self delves beneath these staggering numbers to explore the world of job searching and unemployment across class and nation. Through in-depth interviews and observations at job-search support organizations, Ofer Sharone reveals how different labor-market institutions give rise to job-search games like Israel's résumé-based "spec games"-which are focused on presenting one's skills to fit the job-and the "chemistry games" more common in the United States in which job seekers concentrate on presenting the person behind the résumé. By closely examining the specific day-to-day activities and strategies of searching for a job, Sharone develops a theory of the mechanisms that connect objective social structures and subjective experiences in this challenging environment and shows how these different structures can lead to very different experiences of unemployment.

Job hunting -- Cross-cultural studies. --- Job hunting -- Israel -- Sociological aspects. --- Job hunting -- United States -- Sociological aspects. --- Unemployed -- Israel -- Sociological aspects. --- Unemployed -- United States -- Sociological aspects. --- Job hunting --- Unemployed --- Jobless people --- Out-of-work people --- Unemployed people --- Unemployed workers --- Labor supply --- Persons --- Unemployment --- Hunting, Job --- Job searching --- Employment agencies --- Vocational guidance --- Sociological aspects --- E-books --- US / United States of America - USA - Verenigde Staten - Etats Unis --- IL / Israel --- 332.620 --- 332.623 --- 332.692 --- 332.84 --- Werkloosheid: algemeenheden. Philipscurve --- Levensomstandigheden van de werklozen --- Bureaus voor arbeidsvoorziening --- Moreel en intellectueel leven van de werknemers --- #SBIB:316.334.2A350 --- #SBIB:316.334.2A360 --- Arbeidssociologie: werkloosheid: algemeen --- Arbeidssociologie: werkzoekpatronen en arbeidsmobiliteit --- job search, searching, searches, employment, employee, unemployment, work, labor, laborer, worker, working, international, transnational, united states of america, greece, spain, israel, france, interviews, labor-market, developed world, class, observation, spec games, chemistry game, hunting, cross cultural studies, culture, sociology, sociological, resume, mechanisms, comparison.

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Why were European economies able to pursue the simultaneous commitment to full employment and welfare state expansion during the first decades of the postwar period and why did this virtuous relationship break down during recent decades? This book provides an answer to this question, by highlighting the critical importance of a political exchange between unions and governments, premised on wage moderation in exchange for the expansion of social services and transfers. The strategies pursued by these actors in these political exchanges are influenced by existing wage bargaining institutions, the character of monetary policy and by the level and composition of social policy transfers. The book demonstrates that the gradual growth in the fiscal burden has undermined the effectiveness of this political exchange, lowering the ability of unions' wage policies to affect employment outcomes.

Labour market --- Wage formation --- Europe --- WAGES -- 331.0 --- 20TH CENTURY -- 331.0 --- MANPOWER POLICY -- 331.0 --- AA / International- internationaal --- DE / Germany - Duitsland - Allemagne --- GB / United Kingdom - Verenigd Koninkrijk - Royaume Uni --- SE / Sweden - Zweden - Suede --- 332.10 --- 330.580 --- 332.620 --- Betrekkingen tussen werkgevers en werknemers. Organisatie van de arbeidsverhoudingen in de industrie: algemeenheden. --- Gecontroleerde economie. Geleide economie. Welvaarststaat. Algemeenheden. --- Werkloosheid: algemeenheden. Philipscurve. --- Labor unions --- Manpower policy --- Wages --- Welfare state --- State, Welfare --- Economic policy --- Public welfare --- Social policy --- State, The --- Welfare economics --- Compensation --- Departmental salaries --- Earnings --- Pay --- Remuneration --- Salaries --- Wage-fund --- Wage rates --- Working class --- Income --- Labor costs --- Compensation management --- Cost and standard of living --- Prices --- Industrial unions --- Labor, Organized --- Labor organizations --- Organized labor --- Trade-unions --- Unions, Labor --- Unions, Trade --- Working-men's associations --- Labor movement --- Societies --- Central labor councils --- Guilds --- Syndicalism --- History --- Gecontroleerde economie. Geleide economie. Welvaarststaat. Algemeenheden --- Betrekkingen tussen werkgevers en werknemers. Organisatie van de arbeidsverhoudingen in de industrie: algemeenheden --- Werkloosheid: algemeenheden. Philipscurve --- Economic policy. --- Social policy. --- Social Sciences --- Political Science --- Gay culture Europe