THE UNEMPLOYMENT IN THE HISTORY OF ECONOMIC THOUGHT

Authors

  • Marcelo Weishaupt Proni

Abstract

The paper aims to present the most influential theories about the causes of unemployment until 1980, highlighting its connection with different historical contexts. It follows the political economy framework applied to the study of the labor market, and relies on the understanding that such theories reflect different views on how a capitalist economy works. The argument is divided into three steps. The first emphasizes the formulations on unemployment in Marxist and Neoclassical approaches, and shows that the protection against involuntary unemployment caused disagreements in the early twentieth century. The second focuses the revolution in economic thought in the 1930s, and clarifies how full employment was seen as a political construction. The third emphasizes the reaction against Keynesian school, and criticizes the belief that certain level of unemployment is necessary to keep inflation under control and to support balanced economic growth.

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How to Cite

Proni, M. W. (2015). THE UNEMPLOYMENT IN THE HISTORY OF ECONOMIC THOUGHT. Revista Da ABET. Retrieved from https://periodicos.ufpb.br/index.php/abet/article/view/24864