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Rejoinder

Quarterly Journal of Economics 1972 86(4), 665
How to identify New Left economics, 665. — Are the weaknesses of traditional economics the strength of Marxism? 667. — The formation of preferences, 672. — Power, 674. — Basic issues neglected by the New Left, 676. — The use of knowledge in society, 677. — Incentives and the labor market, 678. — Other problems neglected by the New Left, 679. — Determinism versus smorgasbord, 681. — Final words, 682.

The Welfare State and the Employment Problem

American Economic Review 1993 open access
Social security, provision of public sector services, job security legislation, minimum wages and centrally regulated (bargained) relative wages are important elements of the modern welfare state -- each designed, often quite successfully, to enhance economic security and to redistribute income. The consequences of these policies for the unemployment issue are the topic of this paper.