The central question of this book is whether a unified and satisfactory theory of involuntary unemployment can be constructed. The author, Michel de Vroey, a noted economist, examines the historical development of economic thought on unemployment, tracing the evolution of different theoretical frameworks. He critically analyzes the contributions of various schools of thought, including Keynesian, neoclassical, and new classical economics, to understand their strengths and limitations in explaining persistent joblessness. The book aims to synthesize these diverse perspectives to offer a more comprehensive understanding of this complex economic phenomenon.

The book is recognized as a significant contribution to the literature on the theory of unemployment, offering a rigorous and comprehensive survey of different economic perspectives. It is particularly valued for its detailed historical analysis and its critical engagement with major economic schools of thought. The work is considered essential reading for advanced students and researchers in economics seeking a deep understanding of the theoretical underpinnings of involuntary unemployment.