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How Natural Is the Natural Rate of Unemployment?

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  • John Komlos

Abstract

Must we accept unemployment rates of 5 and 6 percent? The author thinks the concept that such rates are natural has weakened our possible responses. He discusses other ways to share the burden of unemployment. We all have a right to work, he argues.

Suggested Citation

  • John Komlos, 2015. "How Natural Is the Natural Rate of Unemployment?," Challenge, Taylor & Francis Journals, vol. 58(2), pages 160-167, March.
    • Handle: RePEc:mes:challe:v:58:y:2015:i:2:p:160-167
    DOI: 10.1080/05775132.2015.998151
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    References listed on IDEAS

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    1. Craig, Ben & Pencavel, John, 1992. "The Behavior of Worker Cooperatives: The Plywood Companies of the Pacific Northwest," American Economic Review, American Economic Association, vol. 82(5), pages 1083-1105, December.
    2. Farmer, Roger, 2013. "The Natural Rate Hypothesis: an idea past its sell-by date," Bank of England Quarterly Bulletin, Bank of England, vol. 53(3), pages 244-256.
    3. Friedman, Milton, 1977. "Nobel Lecture: Inflation and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 451-472, June.
    4. Dean Baker, 2011. "Work Sharing: The Quick Route Back to Full Employment," CEPR Reports and Issue Briefs 2011-15, Center for Economic and Policy Research (CEPR).
    5. L. Randall Wray, 1997. "Government as Employer of Last Resort: Full Employment without Inflation," Economics Working Paper Archive wp_213, Levy Economics Institute.
    6. Du Zaichao & Yin Hua & Zhang Lin, 2013. "The macroeconomic effects of the 35-h workweek regulation in France," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 881-901, June.
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    More about this item

    JEL classification:

    • J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy

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