Profitability and Unemployment
Discussions of economic policy argue that an adequate level of profitability is a precondition for avoiding future unemployment. This book studies the rationale for this statement. The analysis is built round a simple model of the Harrodâ€“Doman type and extends the study of fixed-price equilibria by considering a dynamic process whose major components are capital accumulation and shifts in income distribution. The Keynesian depression, characterized by a sustained lack of demand, is found to be particularly stable. Lack of productive capacity may also occur when profitability has been too low. In this case, the resulting unemployment stimulates corrective shifts of prices and wages. However, such unemployment may last for some time and is more likely to be followed by Keynesian unemployment than by inflationary full employment. The first and last chapters consider the problem in less formal but more general terms. They discuss both the methodology for the study of the relationship between profitability and unemployment, and the role of various factors that the simple model neglects.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|This book is provided by Cambridge University Press in its series Cambridge Books with number 9780521067140 and published in 2008.|
|Contact details of provider:|| Web page: http://www.cambridge.org|
When requesting a correction, please mention this item's handle: RePEc:cup:cbooks:9780521067140. 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: (Ruth Austin)
If references are entirely missing, you can add them using this form.