Eugene Coyle wrote: > Is DeLong's definition of "structural unemployment" the standard and/or the > only way to define or describe it? I would call a situation where the number > looking for work is chronically larger than jobs on offer a structural > problem. Of course a neo-classical would assert that "if only the workers > would lower their wage demands ... " but that seems untenable as an argument. > But I don't know what the neo-classicals have defined as "structural."<
"structural unemployment" doesn't have a standard meaning. To some, it means any kind of unemployment that doesn't go away due to rising aggregate demand. To others -- including deLong, it seems -- it refers to a mismatch between the skills and locations of those who seek jobs and the skill requirements and location of the vacancies. A "situation where the number looking for work is chronically larger than [the number of] jobs" available for a national economy as a whole would be a case of aggregate-demand stagnation. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
