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 InfoPaper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 006.
Date of creation: 2009
Date of revision:
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Web page: http://www.maastrichtuniversity.nl/web/UMPublications.htm
Economics (Jel: A);
Other versions of this item:
- William Mitchell & Joan Muysken, 2010. "Full employment abandoned: shifting sands and policy failures," International Journal of Public Policy, Inderscience Enterprises Ltd, vol. 5(4), pages 295-313.
- NEP-ALL-2009-02-22 (All new papers)
- NEP-CBA-2009-02-22 (Central Banking)
- NEP-HPE-2009-02-22 (History & Philosophy of Economics)
- NEP-LAB-2009-02-22 (Labour Economics)
- NEP-MAC-2009-02-22 (Macroeconomics)
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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- Stavros A. Drakopoulos, 2010.
"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.
- Gerards, Ruud, 2012. "Unemployment and employability: how firms can help," Open Access publications from Maastricht University urn:nbn:nl:ui:27-29158, Maastricht University.
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