ABSTRACT
This approach is based on the idea that full-employment can and will return if market forces are allowed to operate unhindered. Measured purely in terms of whether this neo-liberal approach is more effective in achieving the goal of full-employment than the social democratic approach, there is little doubt that this is the case. It does indeed appear that unemployment is lower in advanced economies such as the UK and US that have pursued a neo-liberal strategy than it is in more social democratic nations of mainland Western Europe (see Chapter 1).
