Price Flexibility and Full Employment: Barking Up the Wrong (Neoclassical) Tree
This article questions the thesis (again in fashion) that, in an advanced economy, price flexibility ensures full employment. (See most standard macro textbooks.) We make the point that explanation of unemployment in terms of price/wage stickiness typified much pre-Keynesian analysis, but not Keynes...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Pluto Journals
2017-11-01
|
| Series: | World Review of Political Economy |
| Online Access: | https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.8.4.0480 |