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Profitability and Unemployment

Paperback / softback

Main Details

Title Profitability and Unemployment
Authors and Contributors      By (author) Edmond Malinvaud
Physical Properties
Format:Paperback / softback
Pages:120
Dimensions(mm): Height 198,Width 129
ISBN/Barcode 9780521067140
ClassificationsDewey:331.137
Audience
Undergraduate
Illustrations Worked examples or Exercises

Publishing Details

Publisher Cambridge University Press
Imprint Cambridge University Press
Publication Date 26 June 2008
Publication Country United Kingdom

Description

Discussions 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.