The Challenge of High Unemployment
呼吁政策制定者、宏观和微观经济学家更重视高失业问题，讨论现有失业理论的不足，提出非自愿失业的新定义，并构建模型解释需求下降导致的凯恩斯式失业，同时批评微观经济学忽视失业对贸易和公共财政基本问题的影响。
It is argued that policymakers, macroeconomists and microeconomists should all take high unemployment more seriously. The shortcomings of existing theories of unemployment are discussed, and a new definition of involuntary unemployment is proposed. A model is sketched in which falling aggregate demand leads to "Keynesian " unemployment because labor is heterogeneous and relative wages matter. Microeconomic theory is criticized for assuming away unemployment and, in the process, radically changing the answers to some basic questions in trade theory and public finance. Finally, some speculative explanations are offered for the low unemployment now found in states like New Jersey and Massachusetts.