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9780199279166

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`Review from previous edition 'convincingly refutes the idea that countries have no choice but to live with high unemployment.'' The Economist `'an important book ... which synthesises mainstream economic views on the subject.'' The Independent on Sunday `'The authors are experts in this field, and the book will be a major reference work for scholars and students. Highly recommended for graduate and upper-division undergraduate collections.'' Social and Behavioral Sciences `'The leading international text on this subject'' The Australian `'Taken simply as a review of the literature, the book is a monumental achievement ... There is no question that this book is essential reading for economists concerned with unemployment, but it should also be studied by everyone in industry concerned with wage bargaining, whether employer or trade unionist.'' British Journal of Industrial Relations

Convincingly refutes the idea that countries have no choice but to live with high unemployment. --The Economist<br>

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Richard Layard is Emeritus Professor of Economics and Co-Director of the Centre for Economic Performance at the London School of Economics. Stephen Nickell is Professor of Economics at the London School of Economics. Richard Jackman is Professor of Economics at the London School of Economics.

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