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American Unemployment – Past, Present, and Future - Illinois Scholarship Online
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American Unemployment: Past, Present, and Future

Frank Stricker

Abstract

This book shows that full employment has been rare in the United States in the last 150 years; excessive unemployment has been the norm. Against prominent economists who argue that unemployment is voluntary choice, it shows by analysis and many stories that being unemployed is painful and not something people choose lightly. It argues that hidden unemployment and a continuing labor surplus help explain why average real wages in 2019 are not much above their level of the early 1970s. The book locates consequential ideas about unemployment on a continuum between two opposing views. The free-mark ... More

Keywords: full employment, excessive unemployment, direct job creation, laissez-faire, labor surplus, hidden unemployment, depressions, real wages, official employment rate

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780252043154
Published to Illinois Scholarship Online: January 2021 DOI:10.5622/illinois/9780252043154.001.0001

Authors

Affiliations are at time of print publication.

Frank Stricker, author
California State University