Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
612-822-4611

  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
The Macroeconomics of Unemployment: Causes and Eradication

The Macroeconomics of Unemployment: Causes and Eradication

Schmitt, Bernard
Cencini, Alvaro
Bradley, Xavier

Hardcover

Series: Routledge Frontiers of Political Economy

Economics

ISBN10: 1032708689
ISBN13: 9781032708683
Publisher: Routledge
Published: Aug 7 2025
Pages: 190
Weight: 1.11
Height: 0.56 Width: 6.14 Depth: 9.21
Language: English

This book explores unemployment from a monetary macroeconomics perspective, identifying the pathology at the origin of unemployment and the principles of reform that will enable a passage from capitalism to post-capitalism.

Bernard Schmitt explores the problem of involuntary unemployment by developing his quantum monetary macroeconomic analysis, demonstrating that the presence of fixed capital increases both physical productivity and the production of economic value. Money is at the core of Schmitt's analysis because the relation between money and output is what makes it difficult to explain the origin of involuntary unemployment. Schmitt shows that unemployment is formally impossible in any economy producing wage-, interest-, and investment-goods. It is only when the economic system includes fixed capital amortization that the conditions for the formation of unemployment are met. The determining role is played by the natural rate of interest: when this rate falls below the market rate of interest, unemployment sets in. Schmitt provides a new explanation of the mechanism leading to unemployment and advocates a reform that, if implemented, would break any link between capital accumulation and unemployment.

Also from

Schmitt, Bernard

View All

Also in

Economics

View All