1st Edition
The Macroeconomics of Unemployment Causes and Eradication
List of figures
List of tables
About the editors
Acknowledgements
Foreword by Alvaro Cencini and Xavier Bradley
PART I Understanding money
1 The two monies present in modern economies
2 The integration of the product into money
PART II Unemployment is formally impossible in economies where only wage income exists
3 Wage‑goods are already sold in the formation of wages
4 Savings and lending wages
5 The factors of production are their own employer
6 Unemployment is necessarily nil in an economy where wages are the only income
PART III Unemployment is formally impossible in economies where only household income may be found
7 Households’ non‑age income is taken from wages
8 An economy where household income is the only income cannot be affected by unemployment
PART IV Unemployment cannot result from consumption or investment
9 The oft‑repeated theory of the adjustment between global supply and demand
10 Production, income, and unemployment
11 Invested profit
PART V Summary of the financial operations associated with the production of wage‑ and profit‑goods
12 Profit‑deposits
13 The lending of profit‑deposits in capitalism
PART VI The amortization of fixed capital
14 Healthy amortization and pathological amortization
15 Even the correct definition of amortization allows for it to be devoid of any pathology
16 The logical framework of the explanation of unemployment
PART VII Key ideas of the reform that will defeat unemployment
17 A reminder of a few essential ideas
18 The solution to involuntary unemployment
19 Post‑capitalism, profit‑deposits, allocation of income and sectors
20 An outline of the reform
Appendix A simplified presentation of some key points
Bibliography
Index
Biography
Bernard Schmitt was a Full Professor of Monetary Macroeconomics at the Universities of Burgundy (Dijon), France, and of Fribourg, Switzerland. He is the author of many publications, including Monnaie, salaires et profits, Macroeconomic Theory: A Fundamental Revision, Théorie unitaire de la monnaie, nationale et internationale, New Proposals for World Monetary Reform, and Inflation, Unemployment and Capital Malformations.
Alvaro Cencini is Professor Emeritus of Monetary Economics at the Università della Svizzera italiana (USI), Switzerland.
Xavier Bradley is retired, formerly Associate Professor of Economics at the University of Burgundy in Dijon, France. He is a member of the Research Laboratory in Monetary Economics at the University of Lugano, Switzerland.
