Equilibrium Unemployment As A Worker Discipline Device Pdf
The Impact of Firing Costs on Turnover and Unemployment: Evidence from the Colombian Labour Market Reform. Equilibrium Unemployment as a Worker Discipline Device. ” American Economic Review. For full access to this pdf, sign in to an existing account, or purchase an annual subscription. Equilibrium Unemployment as a Worker Discipline Device Created Date: 2752Z.
Unemployment disciplines workers and reduces the wage that firms must pay to prevent shirking. Equilibrium unemployment is too low from the perspective of the profit-maximizing firm because each firm fails to account for the reduction in unemployment imposed by its own hiring. An executive committee for macroeconomic policy can provide discipline as a public good by maintaining higher unemployment to increase collective profits.
| Bowles, S. , and R. Boyer . 1990. A wage-led employment regime: Income distribution, labour discipline, and aggregate demand in welfare capitalism. In The golden age of capitalism: Reinterpreting the postwar experience, ed. S. A. Marglin and J. B. Schor , 187–117. Oxford, UK: Oxford University Press. Google Scholar |
| Marglin, S. A. , and A. Bhaduri . 1990. Profit squeeze and Keynesian theory. In The golden age of capitalism: Reinterpreting the postwar experience, ed. S. A. Marglin and J. B. Schor , 153–186. Oxford, UK: Oxford University Press. Google Scholar |
| Marx, K. , and F. Engels . [1848] 1972. Manifesto of the Communist Party. In The Marx-Engels reader, ed. R. C. Tucker . New York: Norton. Google Scholar |
| Nilsson, E. A. 1994. Capitalists’ institutional agenda, class conflict spillover, and the last instance. Review of Radical Political Economics 26 (4): 23–54. Google Scholar SAGE Journals |
| Polanyi, K. 1944. The great transformation. New York: Farrar & Rinehart. Google Scholar |
| Pollin, R. 1998. The David Gordon Memorial Lecture: The “reserve army of labor” and the “natural rate of unemployment”: Can Marx, Kalecki, Friedman, and Wall Street all be wrong? Review of Radical Political Economics 30 (3): 1–13. Google Scholar SAGE Journals |
| Shapiro, C. , and J. E. Stiglitz . 1984. Equilibrium unemployment as a worker discipline device. American Economic Review 74 (3): 433–444. Google Scholar ISI |
Conceptually, unemployment is the state of an individual looking for a paying job but not having one. As a result, unemployment does not include individuals such as full-time students, the retired, children, or those not actively looking for a paying job. It also doesn't count individuals who work part-time but would like a full-time job. Mathematically, the unemployment rate is equal to the number of unemployed people divided by the size of the labor force. The Bureau of Labor Statistics publishes this basic unemployment rate (known as U-3) as well as a number of related measures (U-1 through U-6) in order to give a more nuanced view of the unemployment situation in the U.S.
Equilibrium Unemployment As A Worker Discipline Device Pdf Free
Terms related to Unemployment:
- Frictional Unemployment
- Cyclical Unemployment
- Structrual Unemployment
- Unemployment Rate
About.Com Resources on Unemployment:
- Why Do We Use the Unemployment Rate? Writing a Term Paper? Here are a few starting points for research on Unemployment:Books on Unemployment:
- Search Theory and Unemployment
- The Economics of Unemployment
- Environmental Fiscal Reform and Unemployment