Social and Behavioral Sciences Commons^™

'Once Were Warriors', Now We're Unemployed: A Solution For New Zealand's Persistent Unemployment, Jack Eammon English

Senior Projects Fall 2018

The economic policies of New Zealand have tended to reflect the economic orthodoxies of academia at any given time. Given that adherence to economic ‘truth’ as espoused by neoclassical economics is supposed to engender allocative efficiency and general equilibrium, this paper takes just one variable - unemployment - and explores why its market has continually failed to clear. Both demand and supply side factors are explored through a survey of the literature on employment determination, and a theoretically robust solution is proposed in the tradition of Modern Money Theory.