Most macroeconomic theory has focused on goods and money rather than on labour, but this book goes someway to redressing this balance. It examines a wide range of labor-market issues from the perspective of modern macroeconomics. It considers policy issues, as well as theory, and criticises both Keynesian and New Classical approaches.
Labour economics have received less attention in macroeconomics despite the fact that involuntary unemployment is a pressing policy issue. Here the imbalance is redressed by focusing on labour-demand and labour-supply relationships.
