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Unemployment: Is Government Macro‐ Economic Policy Impotent?
Author(s) -
ROWLEY CHARLES K.
Publication year - 1983
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.1983.tb01476.x
Subject(s) - unemployment , fallacy , economics , government (linguistics) , inflation (cosmology) , keynesian economics , full employment , macro , action (physics) , labour economics , nairu , macroeconomics , unemployment rate , epistemology , quantum mechanics , theoretical physics , computer science , programming language , linguistics , philosophy , physics
Persistent calls from the CBI, TUC and other corporatists for government ‘action’ to relieve unemployment are based on the Keynesian belief that government can trade off unemployment against inflation. Professor Rowley analyses the fallacy and argues for the dismantling of institutional barriers in the labour market.