This book is concerned with the effects of successive government policies to promote the vocational education, training and employment of young people. The treatment is both historical and analytical, and is based on extensive field research. The Youth Labour Market in Britain studies over time demographic, educational, economic and technological developments, that have greatly influenced the youth labor market, and relates them to assessments of the effects on employers and the national economy. These effects are compared with the alternative, no-policy positions.

This book condemns neglect of macroeconomic analysis in designing Full-Employment policies. The money value of total domestic production rather than the price level should be the objective of a combined fiscal-monetary policy emphasizing low interest rates rather than low tax rates. Full Employment without unacceptable inflation or poverty needs radical reforms, such as labor-capital partnerships, low real wage rates offset by a universal tax-free social benefit, abolition of national insurance contributions, and highly progressive taxation of income and wealth for budget surpluses to redeem...