Work detail

Involuntary unemployment: critical analysis

Author: Bc. Tomáš Troch
Year: 2012 - summer
Leaders: doc. Ing. Vladislav Flek CSc.
Consultants:
Work type: Bachelors
Language: Czech
Pages: 57
Awards and prizes:
Link:
Abstract: Most of the existing empirical literature on the nature of unemployment
agrees that unemployment is an involuntary phenomenon. In my bachelor
theses I challenge that assertion and recommend taking a more agnostic
position regarding the subject. I examine the empirical approach to the
problem by formulating the complete form of logical inference about involuntary
unemployment. The inference has three premises. The first one is
philosophical and has a form of an ethical rule, the second one is psychological
and deals with the theory of happiness and the last one is econometrical
and uses the estimation of the relationship between unemployment and
happiness. I systematically examine them, show their weak points and argue
that each of them is problematic and in the current situation we should
refrain from accepting them, which implies that the conclusion regarding
the nature of unemployment remains open. I also suggest how we can improve
some of the premises to make them more realistic. In the last part
of my theses I review the existing empirical literature and summarize their
conclusions regarding the relationship between happiness and unemployment.
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