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Labour-saving versus labour-using investment

In: Can We Get Back to Full Employment?

Author

Listed:
  • Maurice Scott
  • Robert A. Laslett

Abstract

In this chapter we seek to account for that part of the increase in unemployment over the last decade which is due neither to factors such as more generous unemployment benefits relative to net of tax earnings (‘frictional’) nor to deficiency of demand (‘cyclical’). We call the remaining part of the increase ‘structural’. While this term has been used to cover a wide variety of different factors, all in some way related to the idea of a mismatch between the structure of demand for labour and the available supply, we believe that the important factor in recent years has been an insufficiency of labour-using investment, whose causes in turn we discuss.

Suggested Citation

  • Maurice Scott & Robert A. Laslett, 1978. "Labour-saving versus labour-using investment," Palgrave Macmillan Books, in: Can We Get Back to Full Employment?, chapter 5, pages 43-67, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16020-4_5
    DOI: 10.1007/978-1-349-16020-4_5
    as

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