Effective Demand and Disguised Unemployment
Effective Demand and Disguised Unemployment
This chapter analyzes the origins and structure of disguised unemployment and provides an illustrative estimate of its magnitude from 1979 to 1990. It discusses the ideas developed by Joan Robinson, which implies that the level of employment in the economy is determined by effective demand and level of disguised unemployment. Robinson points out that disguised unemployment is likely to be greater wherever unemployment benefits are either low or of short duration, or where low-productivity employment is subsidized or protected.
Keywords: disguised unemployment, Joan Robinson, employment, effective demand, unemployment, low-productivity employment
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