The book offers an explanation of unemployment based on a model of wage bargaining between a trade union and an employers' association. The theoretical model emphasizes the importance of distributional fairness in wage negotiations, especially with regard to factor taxation. This is achieved by...

Chapter 1: The IS-LM Model: The Reason to Go Beyond It -- Chapter 2: Interaction between the Real Sector and the Financial Sector: An Alternative to the IS-LM Model -- Chapter 3: An Alternative to the IS–LM Model: Perfect Capital Mobility -- Chapter 4: Alternative to the IS-LM: Imperfect...