Profitability and Unemployment
By (author) Edmond Malinvaud
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Profitability and Unemployment by Edmond Malinvaud
Book DescriptionDiscussions 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 Harrod-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.
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Book DetailsISBN: 9780521067140
(198mm x 129mm x 6mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 26-Jun-2008
Country of Publication: United Kingdom
Books By Author Edmond Malinvaud
Development Strategy and Management of the Market Economy, Paperback (July 2000)
Responding to new thinking about economic development and changed economic circumstances, governments' perceptions of their own role in the management of their economies have shifted. This volume distils the thinking eight economists on this changing function of government.
Planning, Shortage, and Transformation, Hardback (June 2000)
The three major themes of Janos Kornai's work reflected in the title of this book--planning, shortage, and transition, or transformation--figure prominently in the essays.
Diagnosing Unemployment, Hardback (April 1994)» View all books by Edmond Malinvaud
This book presents what was learned from the author's vast experience of observing, diagnosing and analysing unemployment statistics.
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