This book offers a long overdue and refreshing Keynesian approach to the rise of European unemployment. It critically discusses the NAIRU theory and presents econometric evidence to assess the relative importance of capital investment and labor market institutions. The author also explores the...

This paper argues that the polarization of income distribution and the decline in the wage share play an important role in the generation of unbalanced and fragile growth. The authors examine the possibility of an alternative path, a wage-led growth strategy, which is likely to generate a much...