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An up-to-date and in-depth analysis of a disquieting trend in the U.S. labor market.
Based on survey data gathered by the U.S. Census Bureau and related agencies, and on 82 interviews conducted with employers, workers, unions, and other labour organizations during 1987 and 1988. Covers trends from 1969 to 1994.
In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter sugges…
