Full employment abandoned: shifting sands and policy failures
AbstractThis paper briefly analyses the shifts in economic theory that have moved policy makers from unambiguously pursuing full employment to the current state where full employability is justified as being optimal. We also explore how these theoretical developments translated in practice, culminating in the 1994 OECD Jobs Study, which eschewed a role for macroeconomic policy in reducing unemployment. The final sections of the paper outline an alternative view of macroeconomic theory and policy opportunities. We argue that a central plank in modern macroeconomic policy settings should be the introduction of employment guarantees, which we term the Job Guarantee (JG).
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Bibliographic InfoArticle provided by Inderscience Enterprises Ltd in its journal International Journal of Public Policy.
Volume (Year): 5 (2010)
Issue (Month): 4 (January)
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Web page: http://inderscience.metapress.com/link.asp?target=journal&id=119807
full employment; macroeconomic policies; job guarantees; policy failures; economic theories; Organisation for Economic Cooperation and Development; OECD Jobs Study 1994; unemployment; employment guarantees; job guarantee; public policy; governance;
Other versions of this item:
- Mitchell, William & Muysken, Joan, 2009. "Full employment abandoned: shifting sands and policy failures," Research Memoranda 006, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Economic Policies, Socieconomic Factors and Overall Health: A Short Review,"
EERI Research Paper Series
EERI_RP_2010_13, Economics and Econometrics Research Institute (EERI), Brussels.
- Drakopoulos, Stavros A., 2010. "Economic Policies, Socieconomic Factors and Overall Health: A Short Review," MPRA Paper 21553, University Library of Munich, Germany.
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- Stavros A. Drakopoulos, 2011. "Economic Policies, Political Considerations and Overall Health," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 41(3), pages 273-286, December.
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