This book dismantles the arguments used by policy makers to justify the abandonment of full employment as a valid goal of national governments. Bill Mitchell and Joan Muysken trace the theoretical analysis of the nature and causes of unemployment over the last 150 years and argue that the shift...

The full employment framework and its demise -- Full employment: changing views and policies -- Early views on unemployment and the phillips curve -- The Phillips curve and shifting views on unemployment -- The troublesome NAIRU/The hoax that undermined full employment -- The shift to full...