Arthur Silas Holton

Arthur Silas Holton (October 21, 1907 - April 1, 2001) was a British economist on employment, consumerism and economic crisis.

Early life

Arthur Silas Holton was born in Bristol on October 21, 1907. His parents, Charles Holton and Maryanne Holton were rich merchants.

Arthur Holton was a brilliant student in highschool, so his parents let him pursue a higher education. Holton graduated the University of Bristol, majoring in economics in 1930. During his time in university, he had serious and severe health complications. Despite his terrible health, he was able to graduate successfully.

Economic contributions

Employment and unemployment

Holton heavily studied the halo effect in his book Theory of unemployment (1985). In this book, he goes on to say that the halo effect is a great financial loss for the state. According to his studies, being in the halo of unemployment is good on a static level because there are less employed agents. Nevertheless, agents that are considered to be in the halo of unemployment may have very precarious working conditions. He argues that less unemployment is not necessarily beneficial because agents are working poor quality jobs that lead to bad health conditions on the long run.

Bibliography

Theory of unemployment 1985