Contents Acknowledgements vi 1 The rise of unemployment in Europe: a synopsis 1 2 Profits and unemployment: is there an equilibrium rate of unemployment in the long run? 26 3 The NAIRU theory, the NAIRU story and Keynesian approaches 56 4 Explaining the rise in European unemployment: an evaluation of the NAIRU story and a Keynesian approach 79 5 Financialization, shareholder value and the theory of the firm: financialization and management priorities 114 6 Financialization and the slowdown of capital accumulation 137 7 Policy conclusions 172 References 187 Index 207
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