In this paper we examine unemployment rate dispersion across the (statistical) regions in the Melbourne metropolitan area. We find that the level of dispersion is positively correlated with the unemployment rate in all the regions taken together and that the ‘elasticity’ of dispersion with...

This paper addresses five related questions. What are the ‘stylised facts’ about the behaviour of flows into and out of unemployment and the Unemployment Rate in Australia, especially in recessions? Why does the number of persons flowing out of Unemployment rise in recessions? How does...

This paper traces the origin and use of the term "captains of industry." Introduced by the Scottish historian and essayist Thomas Carlyle in the mid-nineteenth century, its meanings and associations were very different from today. For Carlyle, they were ferocious instruments of social control...