Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets

Abstract

Preface Introduction Concepts and Agenda Modern Equilibrium Theory Contrary Postulates of the Neoclassical Schools The Labor-Market Equilibrium Locus in Modern Models The Product-Market Equilibrium Locus and Partial-Equilibrium Unemployment Determination Capital-Market Equilibrium, Neoclassical and Modern, and General-Equilibrium Employment Key Factors in the Structuralist Theory of Unemployment Fluctuation The Closed Economy: Working Models A Turnover-Training Model A Customer-Market Model A Two-Sector Fixed-Investment Model Synthesis of the Single-Economy Theory Small and Large Open Economies: Working Models International Linkages through Investment in Employees International Linkages through Investment in Customers International Linkages through Investment in Fixed Capital Synthesis of the Global-Economy Theory Microtheoretic Formulations, Modern and Neoclassical Interest and Wealth in the Microeconomics of the Incentive Wage and Equilibrium Unemployment Structural Shifts and Economic Activity in Neoclassical Theory Empirical Evidence Econometric Tests of the Theory: A Postwar Cross-Country Time-Series Study A Concise Nonmonetary History of Postwar Economic Activity Concluding Notes Notes on Classicism, Etc. Economic Policies to Which the Structuralist Theory Might Lead Notes Glossary of Frequently Used Symbols Index