Named an Outstanding Academic Book of 1992-1993 by Choice

"The authors are experts in this field, and the book will be a major reference for scholars and students. Highly recommended for graduate and upper-divison undergraduate collections."--Choice

"The book is the most thorough and single-minded economic study of unemployment done in many years....What is most impressive...is the interweaving of data and theory. Layard and Nickell use great skill and imagination to construct an eclectic theory firmly based on sharp empirical observations and microeconomic foundations. It is an important contribution to modern labor economics."--Sherwin Rosen, University of Chicago

"Convincingly refutes the idea that countries have no choice but to live with high unemployment."--The Economist

"Should be the starting point for any sensible discussion on the subject from now on."--The Australian