Contends that unemployment is an example of market failure. Argues that explaining unemployment from this supply-demand approach is preferable to the traditional explanation that high "real wages" are the cause. Reveals that many prominent economists entered the field because of their concern for the social problems caused by…

A study examined the experiences of some 1.4 million American defense industry workers, displaced in the wake of the Cold War, as a way of reviewing and evaluating national policies toward worker adjustment and re-employment as they have evolved in the 1990s. The study found that the federal government, through the Department of Labor,…