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Since the 1970s the average level of unemployment in Australia has risen each decade. This has imposed huge economic, social and human costs, making unemployment one of the most pressing problems confronting Australia. Governments, however, seem powerless in the face of this problem. Drawing on the expertise of some of Australia's leading economists, this book argues that the currently fashionable approaches of wage cuts and further steps towards labour market flexibility will not solve the unemployment problem. In reality, unemployment and rising inequality are symptoms of the growing failure of contemporary labour markets to distribute jobs and incomes effectively. The contributors argue that the main solution to this problem is not wage cuts but jobs growth. This important book points to a way beyond the current policy malaise and offers detailed solutions to unemployment.
Table of contents:
Introduction: The unemployment crisis and economic policy, Stephen Bell; 1 The dimensions and costs of unemployment in Australia, Martin Watts; 2 The causes of unemployment, William F. Mitchell; 3 Are wage cuts the answer? P.N. Junankar; 4 Labour market outcomes in the UK, NZ, Australia and the US, R.G. Gregory; 5 Is growth the answer? John Burgess and Roy Green; 6 Can Keynesian policies stimulate growth in output and employment? J.W. Nevile; 7 Economic speed limits on growth II, Stephen Bell, Roy Green and John Burgess; 8 Economic speed limits to growth, Anis Chowdhury; 9 The public sector as a job engine, John Quiggin; 10 What role for labour market programs? Elizabeth Webster; 11 Unemployment, inequality and the political economy of redistribution, Stephen Bell.
This book argues that the current approaches of wage cuts and labour market flexibility will not solve the unemployment problem. The main solution is the purposeful distribution of jobs to those who need them.
This book offers new solutions to the problem of rising unemployment in Australia.
Table of contents:
Introduction: The unemployment crisis and economic policy, Stephen Bell; 1 The dimensions and costs of unemployment in Australia, Martin Watts; 2 The causes of unemployment, William F. Mitchell; 3 Are wage cuts the answer? P.N. Junankar; 4 Labour market outcomes in the UK, NZ, Australia and the US, R.G. Gregory; 5 Is growth the answer? John Burgess and Roy Green; 6 Can Keynesian policies stimulate growth in output and employment? J.W. Nevile; 7 Economic speed limits on growth II, Stephen Bell, Roy Green and John Burgess; 8 Economic speed limits to growth, Anis Chowdhury; 9 The public sector as a job engine, John Quiggin; 10 What role for labour market programs? Elizabeth Webster; 11 Unemployment, inequality and the political economy of redistribution, Stephen Bell.
This book argues that the current approaches of wage cuts and labour market flexibility will not solve the unemployment problem. The main solution is the purposeful distribution of jobs to those who need them.
This book offers new solutions to the problem of rising unemployment in Australia.