Saturday, January 14, 2017

Philip George on involuntary unemployment

Why is there involuntary unemployment?

I think the article is brilliant. Recommended reading!

1 comment:

Philip said...

Thank you for your kind comments.

Another consequence of some of the math in this paper can be seen in another paper published a few months ago: (The mathematical equivalence of Marshallian analysis and 'General Equilibrium' Theory)

This shows that contrary to the claims made over more than half a century, the classic Marshallian demand and supply analysis is not "partial equilibrium" analysis. It possesses the same order of generality as what is claimed to be "General Equilibrium" theory.