Social Psychology, Unemployment, and Macroeconomics
Author(s)
Darity Jr., William A.; Goldsmith, Arthur
Abstract
This article draws on the work of numerous social psychologists to describe relations among wages, employment, and productivity as a feedback loop, wherein psychological factors are reciprocally affected by the economic variables. The interesting results include a proposal for reshaping human capital theory, and reasons to question the existence of a natural rate of unemployment.
