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Author: Tim Hazledine
Publisher: Springer
ISBN: 1349176974
Category : Business & Economics
Languages : en
Pages : 265
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Book Description
Author: Tim Hazledine
Publisher: Springer
ISBN: 1349176974
Category : Business & Economics
Languages : en
Pages : 265
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Book Description
Author: Benjamin Higgins
Publisher: Routledge
ISBN: 1351292358
Category : Business & Economics
Languages : en
Pages : 384
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Book Description
The world economy has undergone a fundamental transformation in recent decades and theoretical structures inherited from the 1930s through the 1950s, while retaining large elements of truth, are inadequate to deal with current problems. Benjamin Higgins feels that for a society such as the United States a fiscal policy needs to be adopted that can deal simultaneously with existing unemployment and inflation. He suggests three possible governmental policies: stimulating a high rate of long-run growth, by use of reward innovations and by maintaining the highest possible level of scientific and technical activity; isolating regions that are generators of inflation and others that are pools for unemployment; and establishing a system of direct controls similar to those used in wartime. Higgins describes the transformation of the cogent prewar business cycle, with its alternations of inflation or unemployment, then a transitional period of underemployment equilibrium and secular stagnation, and finally, the strange new world of today, one with economic fluctuations in the form of shifting trade-off curves and loops. He then applies his new paradigm to current problems, showing why they cannot be managed through macroeconomic monetary and fiscal policy. Higgins offers case studies of efforts to fight inflation and unemployment, and to reduce regional gaps, to show their strengths and weaknesses. It can be said that unemployment always results from too many people chasing too few jobs, and inflation is always caused by too much money chasing too few goods and services. Beyond such banal generalizations, Higgins maintains there is no single cause for either unemployment or inflation, and thus no single cure can be prescribed for either, let alone for both at once. Nor is it to be expected that the appropriate cure will prove to be the same in all countries at all times. He suggests that an optimal blend of monetary and fiscal policy that will produce the "minimum discomfort" is a good start. Employment Without Inflation will be of direct policy interest to economists, sociologists, and national planners.
Author: John Grieve Smith
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
Author: Leon Hirsch Keyserling
Publisher:
ISBN:
Category : Full employment policies
Languages : en
Pages : 64
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Book Description
Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066959
Category : Business & Economics
Languages : en
Pages : 545
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Book Description
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author: Stephen A. Marglin
Publisher: Harvard University Press
ISBN: 0674971027
Category : Business & Economics
Languages : en
Pages : 921
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Book Description
Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century. John Maynard Keynes's General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes's lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins. Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes's intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand. Ordinary citizens have paid a steep price for the distortion of Keynes's message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose. Fleshing out Keynes's intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.
Author: Irving Herbert Siegel
Publisher: Kalamazoo, Mich. : W.E. Upjohn Institute for Employment Research
ISBN:
Category : Business & Economics
Languages : en
Pages : 244
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Book Description
Essays on economic policy options for combating inflation and reducing unemployment in view of attaining full employment in the USA - discusses alternative policy measures in respect of incomes policy, wage policy, price policy and price stabilization, fiscal policy, monetary policy, employment policy and productivity policy, and proposes a system for statistical analysis in which hourly earnings, unit labour costs, productivity and prices are treated symmetrically. References.
Author: Robert Pollin
Publisher: MIT Press
ISBN: 0262017571
Category : Business & Economics
Languages : en
Pages : 206
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Book Description
Economist Robert Pollin argues that the United States needs to try to implement full employment and how it can help the economy.
Author: John Herman Groesbeck Pierson
Publisher:
ISBN:
Category : Full employment policies
Languages : en
Pages : 264
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Book Description
Essays presenting an economic policy proposal for achieving full employment in the USA based on the economic theory concept of "economic performance insurance" - describes EPI as the annual imposition of Federal controls (state intervention) on maximum and minimum levels of employment and consumer expenditure, with corresponding reduction or expansion of public sector employment and consumption tax changes; discusses stabilization procedures for attaining targets, and the implications for inflation and trade. References.
Author: John Maynard Keynes
Publisher: Springer
ISBN: 3319703447
Category : Business & Economics
Languages : en
Pages : 404
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Book Description
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
