Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.

High unemployment has been one of the most disturbing features of the economy of the 1980s. For a precedent, one must look to the interwar period and in particular to the Great Depression of the 1930s. It follows that recent years have been marked by a resurgence of interest amongst academics in interwar unemployment. The debate has been contentious. There is nothing like the analysis of a period which recorded rates of un employment approaching 25 per cent to highlight the differences between competing schools of thought on the operation of labour markets. Along with historians, economists whose objective is to better understand the causes, character and consequences of contemporary unemployment and sociologists seeking to understand contemporary society's perceptions and responses to joblessness have devoted increasing attention to this his torical episode. Like many issues in economic history, this one can be approached in a variety of ways using different theoretical approaches, tools of analysis and levels of disaggregation. Much of the recent literature on the func tioning of labour markets in the Depression has been macroeconomic in nature and has been limited to individual countries. Debates from the period itself have been revived and new questions stimulated by modem research have been opened. Many such studies have been narrowly fo cused and have failed to take into account the array of historical evidence collected and anal~sed by contemporaries or reconstructed and re- inter preted by historians.

Excerpt from International Aspects of Unemployment This book has been written, not as an addition to economic thought (presumptuous and vain hope D, but as a tract for present times. Its conclusions are open to argument; for while they seemed overwhelmingly evident to the author during recent visits to a dozen of the more important countries involved, yet the same ground has been covered by many older and more experienced observers, whose published deductions have not always followed the same lines. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

While most standard economic models of international trade assume full employment, Carl Davidson and Steven Matusz have argued over the past two decades that this reliance on full-employment modeling is misleading and ill-equipped to tackle many important trade-related questions. This book brings together the authors' pioneering work in creating models that more accurately reflect the real-world connections between international trade and labor markets. The material collected here presents the theoretical and empirical foundations of equilibrium unemployment modeling, which the authors and their collaborators developed to give researchers and policymakers a more realistic picture of how international trade affects labor markets, and of how transnational differences in labor markets affect international trade. They address the shortcomings of standard models, describe the empirics that underlie equilibrium unemployment models, and illustrate how these new models can yield vital insights into the relationship between international trade and employment. This volume also includes an indispensable general introduction as well as concise section introductions that put the authors' work in context and reveal the thinking behind their ideas. Economists are only now realizing just how important these ideas are, making this book essential reading for researchers and students.