Abstract
This chapter opens with a discussion of the impact of involuntary unemployment on subjective well-being, based on research undertaken by psychologists and others. A comparison is made between the impact of unemployment and changes in income on subjected well-being. It is shown that there are significant non-pecuniary benefits to paid employment and that full and equitable employment is essential to sustainable prosperity. It is argued that full and equitable employment supported by a job guarantee is consistent with moderate and stable rates of inflation and ecological sustainability.
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