This broad survey of unemployment is a benchmark summary of the authors position which became hugely influential. This second edition brings the analysis up to date by relating it to recent empirical developments. This book is a major source of reference for both scholars and students. 'Taken simply as a review of the literature, the book is a monumental achievement ... There is no question that this book is essential reading for economists concerned with unemployment, but it should also be studied by everyone in industry concerned with wage bargaining, whether employer or trade unionist.'