Zenezini, Maurizio - In: Rivista Internazionale di Scienze Sociali 118 (2010) 2, pp. 225-262
This paper shows that Pigou’s theory of unemployment, contrary to what Keynes thought, does not assume states of full employment only, but offers an analysis of situations of persistent underemployment which are not necessarily associated with labour market supply factors. Indeed, Pigou’s...