Embodied human capital unemployment
Adam Smith (1776) devoted the first three chapters to the division of labor in his Inquiry into the Nature and Causes of the Wealth of Nations. This process, carried far enough, eventually results in a divergence between the distributions of supplies and demands of such horizontally-differentiated distinct types of human capital embodied in different persons, leading to the emergence of Embodied Human Capital Unemployment. We illustrate the relevance of this new concept of unemployment to the U.S economy in the first decade of the 21st Century. This helps achieve a deeper understanding of the current global economic crisis, and inter alia to identification of potentially effective, and potentially ineffective, public policies. (111 words).
|Date of creation:||16 Apr 2011|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Batra, Raveendra N. & Naqvi, Nadeem, 1989. "Non-traded and intermediate goods and the theory of protection," European Economic Review, Elsevier, vol. 33(4), pages 721-735, April.
- J. Peter Neary, 1995.
"Factor Mobility and International Trade,"
Canadian Journal of Economics,
Canadian Economics Association, vol. 28(s1), pages 4-23, November.
- J. Peter Neary, 1994. "Factor mobility and international trade," Working Papers 199409, School of Economics, University College Dublin.
- J.P. Neary, 1995. "Factor Mobility and International Trade," CEP Discussion Papers dp0248, Centre for Economic Performance, LSE.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:31161. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.