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American UnemploymentPast, Present, and Future$
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Frank Stricker

Print publication date: 2020

Print ISBN-13: 9780252043154

Published to Illinois Scholarship Online: January 2021

DOI: 10.5622/illinois/9780252043154.001.0001

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PRINTED FROM ILLINOIS SCHOLARSHIP ONLINE (www.illinois.universitypressscholarship.com). (c) Copyright Illinois University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in ISO for personal use.date: 28 July 2021

Introduction

Introduction

Chapter:
(p.1) Introduction
Source:
American Unemployment
Author(s):

Frank Stricker

Publisher:
University of Illinois Press
DOI:10.5622/illinois/9780252043154.003.0001

Main arguments are discussed and key concepts are defined to help readers later on and to preview the book’s effort to evaluate mainstream paradigms, one of which is that 4 percent unemployment is full employment. Flaws in the idea of frictional unemployment are sketched. This chapter stresses the importance of discouraged workers and other jobless people outside the labor force. Truly full employment requires more jobs than people needing jobs, short periods for finding work, and real wages rising 2 percent per year. These conditions have been rare. The final argument is that neoliberalism and unregulated markets cannot bring full employment. Government job programs are essential.

Keywords:   full employment, frictional unemployment, 4 percent unemployment, real wages, mainstream paradigms, neoliberalism, unregulated markets

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