A Theory of Full Employment

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This work has three purposes. First, to convince professional economists who study the behaviour of the economic system as a whole that they must re-examine some of the assumptions underlying the reigning economic theories. Second, to explain to the general public why the currently fashionable economic policies cannot solve the problem of massive long term unemployment. Third, to show that if people’s political engagement is revived there is hope that we can escape from the economic morass and moral wasteland into which the fashionable policies have been leading us ever since the 1970s.