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Can unemployment be reined?
The reduction of the working hours schedule pegged to the productivity gains seems to be the only workable way to overcome the unemployment concern. The chart (index numbers, 1998=100, to allow for easier comparisons) illustrates the effects of the shortened schedule scenario applied retrospectively from 1998 through 2012, the corresponding data appearing in the table of the simplified model. The more salient features are the fast growth of employment, attached to GWP (gross world product) growth, the slowing down of working-age-neither-employed-nor-unemployed or "dropouts" growth, and the consequent undoing of unemployment, which evaporates by 2006.
The simplified model takes as given two variables: the working-age population numbers, and the GWP values...
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