The GT, Frictional and Involuntary Unemployment

[Harry Veeder <eo200@xxxxxxxxxxxxxxxxxxx>]

Keynes used his General Theory  to explain the high levels of unemployment
in the 1930's as an
sign of "involuntary unemployment" but he also acknowledged the existence of
"frictional unemployment". However, he did not explain how, from an
observational standpoint, frictional unemployment is to be differentiated
from involuntary unemployment. It is time Post Keysenians tackled this
problem  in order to put the GT on a better footing.

Harry Veeder