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Unemployment

In: Sidney and Beatrice Webb

Author

Listed:
  • David Reisman

    (University of Surrey
    Nanyang Technological University)

Abstract

The Webbs recognised that some unemployment was voluntary. Much, however, was involuntary, the consequence of an unintended ‘social disease’. Fashion, technology, cycles, crises left honest workmen without jobs. Wage-flexibility could not price the workers with the wrong skills or situated in the wrong regions into employment. It was incumbent on the state, in line with the social contract, gift exchange and social duty, to provide retraining schemes, nation-wide labour exchanges and direct employment in public works. When all else fails, there should be income maintenance. National assistance should be accompanied by strict conditionality to prevent free riding. The Webbs were ambivalent about national insurance lest it encourage moral hazard. Work was the best form of welfare. Job-creation is a reason for economic growth.

Suggested Citation

  • David Reisman, 2022. "Unemployment," Great Thinkers in Economics, in: Sidney and Beatrice Webb, chapter 0, pages 179-192, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-3-031-10008-6_10
    DOI: 10.1007/978-3-031-10008-6_10
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