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Flexible Full Employment: Structural Implications of Discretionary Public Sector Employment
Journal of Economic Issues
Full eiiq)loyment is often associated with structural rigidities. An economy running at full employment and high levels of capacity utilization will have difficulty adjusting to structural changes such as capital-and labor-displacing technical innovations, changes in supply of labor or natural resources, and changes in the composition of final demand [see, e.g., Lowe 1976; Pasinetti 1981 Pasinetti , 1993. Such rigidity is rooted in the structural and technological features of modern capitalistdoi:10.1080/00213624.1998.11506064 fatcat:ovr6yvr4nneuba22jivjj6iilm