Friday, October 11, 2013

Unemployment rate is actually higher than you might think

That's what the Economic Policy Institute says (see here). The 'missing workers' are fundamentally discouraged workers. I calculated a while ago the unemployment level maintaining the higher participation rate of the late 1990s, and also found significantly larger rate of unemployment (see here).

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Surplus approach, Historical Materialism, and precapitalist economies:

New Paper by Sergio Cesaratto on a topic closely related to what he has discussed here before. From the abstract: In the classical economis...