The Natural Survival of Work: Job Creation and Job Destruction in a Growing Economy
Pierre Cahuc, AndrA© ZylberbergISBN: 0262033577; 9780262033572;
Every working day in the United States, 90,000 jobs disappear--and an equal number are created. This discovery has radically altered the way economists think about how labor markets work. Without this necessary phenomenon of "creative destruction," our economies would experience much lower growth. Unemployment is a natural consequence of a vigorous economy--and is in fact indispensable to it. In The Natural Survival of Work , labor economists Pierre Cahuc and AndrA© Zylberberg consider how to manage the unemployment that results from the desirable churning of the economy, drawing on recent economic research and citing examples from France, the U.S., the U.K., and elsewhere. Unemployment in many continental European countries, particularly among youth, has reached high levels in recent years, and Cahuc and Zylberberg criticize labor market policies that are based on politics rather than economics. They discuss the minimum wage in both the U. S. and France and show...