ABSTRACT
As the rest of this book will amply demonstrate, giving involuntary unemployment its theoretical credentials has proved to be a daunting task. It took several decades after Keynes’ The General Theory to be achieved, and then still in an unsatisfactory way. The aim of this chapter is to explain with hindsight why this has been the case. What, in other words, is (are) the stumbling block(s) standing in the way of getting at a robust theory of involuntary unemployment in the individual disequilibrium meaning?
