Keynes (1936) said that shortage of money caused by hoarding or failure to invest led to unemployment, but Lucas (1972 …) said that money does not affect unemployment. The tables have now turned. Gani (2003) produced a model of indirect trade in … which money is necessary as a means of payment. Involuntary unemployment occurs under indirect exchange, just when the …

Are certain groups of unemployed individuals hurt less by unemployment than others? This paper is an attempt to test … the hypothesis that non- pecuniary costs of unemployment may vary between societies with different unemployment rates … related to unemployment for South African adults as to be expected in richer countries. Reported well-being levels are shown …