Nick Rowe brings up an important issue and sends a warning. He says that New Keynesian economists are assuming full-employment. And it is foolish. Nick Rowe is correct. Keynes himself…

…as a result of the ‘shock’ of rising import competition”: Employment Effects of International Trade, by Claire Brunel, NBER Digest: In the past two decades, China’s manufacturing exports have grown…

…level not by flexible wages which make unemployment zero, but by a monetary authority which targets a fixed unemployment level. However, the economy can also be in a bad situation…

…Is the unemployment rate higher in Germany, Canada, Australia and Taiwan because their healthcare insurance systems aren’t based on full-time employment by a company that provides it to its full-time…

…pertinent excerpts from Pigou and Dobb below.   *task: “a certain quantity of work to be done”   A.C. Pigou, Unemployment (1913) Some popular explanations of unemployment It would, however,…

…that people dislike work. Introductory economics classes will explain the disutility of labor, which is a direct trade-off with leisure. Granted, employment isn’t always fun, and many forms of employment…

…recession ends, and picks up after the employment to population ratio does. Put another way, people come off the sidelines and enter the workforces once the unemployment rate declines significantly….

…been the primary reason for the declining share of manufacturing employment in the United States and other industrial economies, and second that recent productivity growth in manufacturing has actually been…

…positive than the original great numbers. Meanwhile the prime age employment to population ratio, involuntary part time employment, and the underemployment rate all reached their best levels of this expansion….

…have contributed less than 6 percent of the nation’s employment growth since 2010 while employment remains below pre-recession levels in many ‘micro’ towns and rural communities (those with populations less…