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...

The sectoral composition of economies is fundamental to the understanding of growth, unemployment and the relative performance of nations. Henri de Groot models the relationship between these four factors from a single theoretical perspective in order to determine the foundations of the wealth...