Reinterpreting Persistent Unemployment: A Classical Economics Perspective on France 1950-2020
This paper draws on Anwar Shaikh’s formalization of the Classical theory of unemployment to analyze the historical development of the structural relationship between the wage share and unemployment in France from 1950 to 2020. The main findings include that the decline of central democratic economic planning coincides with the consolidation of a structural relationship between the two variables, a
