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2016 | OriginalPaper | Buchkapitel

5. Macroeconomics: Economic Growth and Business Cycles

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Abstract

“Japan…was unable to shake off high unemployment… after 1990” (S&N p. 369). I do not know where they get their numbers from, but Japan’s unemployment rate was between 2 and 5 % after 1990. In 2015, their unemployment rate is 3.6 % about 2 % less than in the USA. Per capita gross national income peaked in 1996.

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Fußnoten
5
John M. Keynes, The General Theory of Employment, Interest and Money, London: Macmillan, 1936, pp. 161–162.
 
6
George A. Akerlof and Robert J. Shiller, Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism, Princeton University Press, 2009.
 
9
Joseph E. Stiglitz, Amartya Sen, and Jean-Paul Fitoussi, Mis-Measuring our Lives. Why the GDP Doesn’t Add up. New Books, 2010.
 
10
http://​data.​bls.​gov/​cgi-bin/​dsrv also National Compensation Survey: Occupational Earnings in the United States, 2008. U.S. Department of Labor. http://​wfnetwork.​bc.​edu/​pdfs/​overwork.​pdf.
 
12
Current Population Survey, Table A-23. Hourly earnings of employed wage and salary workers1 paid hourly rates by detailed industry and sex, Annual Average 2009.
 
13
Counting those who would like to work but have not search during the previous year (6 million) and counting those who are working part-time but would like to work full time as being half underemployed. 6.4 million part-time divided by 2 equals 3.2 million added to the underemployment. With 14.2 million unemployed in 2009 yields a total underemployment of some 22.4 million out of a labor force of 140 million. ftp://​ftp.​bls.​gov/​pub/​special.​requests/​lf/​aat8.​txt.
 
15
Jeffrey Sachs, Rethinking Macroeconomics. Capitalism and Society, Vol. 4 [2009]: 3, Art. 3. http://​www.​bepress.​com/​cas/​vol4/​iss3/​art3.
 
Metadaten
Titel
Macroeconomics: Economic Growth and Business Cycles
verfasst von
John Komlos
Copyright-Jahr
2016
DOI
https://doi.org/10.1007/978-3-319-27828-5_5