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The Fall and Rise of Keynesian Economics$
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John Eatwell and Murray Milgate

Print publication date: 2011

Print ISBN-13: 9780199777693

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199777693.001.0001

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Unemployment on a World Scale

Unemployment on a World Scale

Chapter:
(p.93) 6 Unemployment on a World Scale
Source:
The Fall and Rise of Keynesian Economics
Author(s):

John Eatwell

Murray Milgate

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199777693.003.0006

This chapter talks about international unemployment. The common sources of increased unemployment include the pace of labor-saving technological change, structural changes in world trading relationships, changes in the international financial environment, and consequential changes in the macroeconomic polities of the G7 countries. The problem of international unemployment is rooted in the developments in the international trading and financial system since 1973. The pressure to liberalize goods and financial markets has created a deflationary climate that infected the worldwide economy.

Keywords:   international unemployment, labor-saving technological change, world trading relationships, international financial environment, macroeconomic polities, G7 countries, deflationary climate, worldwide economy

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