On the definition of involuntary unemployment
Keynes gave two definitions of involuntary unemployment which could be seen more as tests for the existence of involuntary unemployment than definitions. It is argued that Keynes's definitions are inadequate as tests of unemployment and in many circumstances would fail to reveal the existence of unemployment. We argue that unemployment as a theoretical construct is always involuntary, and the appearance of voluntary unemployment arises only through the mismeasurement of unemployment. We argue that involuntary unemployment has to be viewed as a macroeconomic concept rather than a microeconomic one. In a collective sense, the degree of unemployment is not the outcome of decisions made by the individuals concerned.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 37 (2008)
Issue (Month): 2 (April)
|Contact details of provider:|| Web page: http://www.elsevier.com/locate/inca/620175|
References listed on IDEAS
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.:
- Weitzman, Martin L, 1982. "Increasing Returns and the Foundations of Unemployment Theory," Economic Journal, Royal Economic Society, vol. 92(368), pages 787-804, December.
- Michel, DE VROEY, 2005. "Involuntary Unemployment : the Elusive Quest for a Theory," Discussion Papers (ECON - Département des Sciences Economiques) 2005004, Université catholique de Louvain, Département des Sciences Economiques.
- David A. Spencer, 2006. "Work for all those who want it? Why the neoclassical labour supply curve is an inappropriate foundation for the theory of employment and unemployment," Cambridge Journal of Economics, Oxford University Press, vol. 30(3), pages 459-472, May.
When requesting a correction, please mention this item's handle: RePEc:eee:soceco:v:37:y:2008:i:2:p:718-735. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.