Reinterpreting Persistent Unemployment: A Classical Economics Perspective on France 1950-2020
(2024) EOSK12 20241Department of Economic History
- Abstract
- This paper draws on Anwar Shaikh’s formalization of the Classical theory of unemployment to analyze the historical development of the structural relationship between the wage share and unemployment in France from 1950 to 2020. The main findings include that the decline of central democratic economic planning coincides with the consolidation of a structural relationship between the two variables, and that the implementation of Neoliberal policies in the late 1980s coincides with a major transformation of this relationship that structurally disadvantages labor vis-à-vis capital. Furthermore, the analysis demonstrates that Classical economics is capable of accounting for persistent unemployment in ways that differ from and draw attention to... (More)
- This paper draws on Anwar Shaikh’s formalization of the Classical theory of unemployment to analyze the historical development of the structural relationship between the wage share and unemployment in France from 1950 to 2020. The main findings include that the decline of central democratic economic planning coincides with the consolidation of a structural relationship between the two variables, and that the implementation of Neoliberal policies in the late 1980s coincides with a major transformation of this relationship that structurally disadvantages labor vis-à-vis capital. Furthermore, the analysis demonstrates that Classical economics is capable of accounting for persistent unemployment in ways that differ from and draw attention to some of Neoclassical economics’ self-admitted blindspots. This begets the question of theory appraisal, which the paper argues should be approached from a pluralist perspective. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9163525
- author
- Lidén, Axel LU
- supervisor
-
- Igor Martins LU
- organization
- course
- EOSK12 20241
- year
- 2024
- type
- M2 - Bachelor Degree
- subject
- language
- English
- id
- 9163525
- date added to LUP
- 2024-06-18 07:50:21
- date last changed
- 2025-07-11 11:19:18
@misc{9163525,
abstract = {{This paper draws on Anwar Shaikh’s formalization of the Classical theory of unemployment to analyze the historical development of the structural relationship between the wage share and unemployment in France from 1950 to 2020. The main findings include that the decline of central democratic economic planning coincides with the consolidation of a structural relationship between the two variables, and that the implementation of Neoliberal policies in the late 1980s coincides with a major transformation of this relationship that structurally disadvantages labor vis-à-vis capital. Furthermore, the analysis demonstrates that Classical economics is capable of accounting for persistent unemployment in ways that differ from and draw attention to some of Neoclassical economics’ self-admitted blindspots. This begets the question of theory appraisal, which the paper argues should be approached from a pluralist perspective.}},
author = {{Lidén, Axel}},
language = {{eng}},
note = {{Student Paper}},
title = {{Reinterpreting Persistent Unemployment: A Classical Economics Perspective on France 1950-2020}},
year = {{2024}},
}