THE ARTICLE ATTEMPTS AN ECONOMIC ANALYSIS AND EXPLANATION OF THE INCREASINGLY CRITICAL PROBLEMS OF UNEMPLOYMENT, PARTICULARLY IN MODERN CAPITALIST SOCIETIES. THE 'DEFICIENTDEMAND' HYPOTHESIS IS EXPLORED AND THE COSTS OF BOTH LABOR (HIGHER WAGES TO MATCH INFLATION, ETC) & UNEMPLOYMENT (WITH INCREASED BENEFITS, ETC) ARE DISCUSSED. THE AUTHOR PROPOSES A POLICY PROGRAM FOR DECREASING UNEMPLOYMENT.
The forces determining the share of nat'l income available to the aged, & the way in which that share is distributed among diff groups within the aged, are examined. Most of the evidence relates to GB & the US. It is argued that the inability to work, which results in the econ dependency of old age, should be viewed as a socially determined problem. The main sources of support for the aged in industrialized countries are reviewed & it is concluded that, despite increases in real income, & instit'al developments such as the growth of employers' private pension schemes, provision by the state remains all important. The danger of viewing the retired as a homogeneous group with similar econ problems is emphasized, both because of the general inequality of distribution of resources among them, & because of the special econ problems of single & widowed women. Finally, it is argued that no very sophisticated standards of poverty are required to describe large numbers of the old as poor in both GB & US today. AA.