5 Keynes’s Chapter 2 definition of involuntary unemployment1
Christopher Torr
Introduction
Sheila Dow has left her mark in many fields of economics, such as macroeconomics, microfoundations, methodology and the history of economic thought. From early on, and again more recently, she has investigated how different schools of thought treat microfoundations, an issue with obvious links to the labour market (Dow 1983, 1985a, 2016).
In this chapter, we examine the labour market definition of involuntary unemployment that appears in Keynes (1936, 15). Although not as topical a subject as it was in the aftermath of the General theory, issues related to involuntary unemployment surface from time to time. The issue of ...
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