the paper is centred on Pigou’s core framework of Theory of Unemployment (TU) and his arguments on the determinants of unemployment in the short period are discussed. I will show what actually are the implicit assumptions in TU on the behavior of the non wage earners in the non wage sector. Pigou’s argument is further clarifed via a simple model in the Appendix. It is also argued that classical and neoclassical schools were rather close in viewing the problem of the (un)employment determination, making almost right the label (“classical”) Keynes gave to his predecessors.

DI MATTEO, M. (2013). Pigou's Theory of Unemployment: what classical macroeconomics really was. In Pigou's Theory of Unemployment: what classical macroeconomics really was (pp. 73-92).

Pigou's Theory of Unemployment: what classical macroeconomics really was

DI MATTEO, MASSIMO
2013

Abstract

the paper is centred on Pigou’s core framework of Theory of Unemployment (TU) and his arguments on the determinants of unemployment in the short period are discussed. I will show what actually are the implicit assumptions in TU on the behavior of the non wage earners in the non wage sector. Pigou’s argument is further clarifed via a simple model in the Appendix. It is also argued that classical and neoclassical schools were rather close in viewing the problem of the (un)employment determination, making almost right the label (“classical”) Keynes gave to his predecessors.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11365/813442
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