'This is an extremely important and long-awaited book. The authors provide a cogent guide to all that is wrong with the theory and empirical applications of the discredited notion of an aggregate production function. Their critique has devastating implications for orthodox macroeconomics.'...

This volume argues that while labour market reforms may be necessary in some specific cases, by no means are labour market policies the main explanation for the widespread increase in unemployment and underemployment across Asia and country specific studies undermine the case for...