Baumol, William J.; Wolff, Edward N. - EconWPA - 1998
unemployment. There is, of course, a considerable body of writings on the social costs of economic growth. By and large it has … automatically to bring the economy back, if not to "full employment," at least to a fairly stick "natural rate of unemployment" seem …) that the level of employment can be adjusted by macroeconomic policy and that this is capable of undoing whatever jobless …