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Full Employment and Price Stability in a Global Economy by Paul Davidson,J. A. Kregel Pdf
The economic performance of many countries deteriorated significantly in the 1990s. This book offers policy prescriptions from the post-Keynesian perspective aimed at achieving full employment without inflation. It examines issues such as speculation, financial markets, and the Euro and its role.
Full Employment and Price Stability by William Spencer Vickrey Pdf
'This collection of Vickrey's writings is primarily concerned with macro policy issues, and thus includes some of his lesser-known work. It is a collection that Bill would have wanted to get out to the public because he felt that a solid macro policy was necessary to create a foundation of equity and efficiency before one can even start talking about micro policy.' - From the preface by David Colander, Middlebury College, US Collecting Nobel Laureate William S. Vickrey's articles on macroeconomic theory and policy written towards the end of his career, this volume demonstrates his enduring commitment to full employment and price stability, and his rejection of conventional macroeconomic theorizing. William Vickrey never lost hope that sensible macroeconomic policy could be understood and implemented, a faith inspired by his humanistic vision of a better world for all and his belief that common sense would ultimately prevail. Advocating sensible economic policies, this collection will offer much of value to heterodox and orthodox economists, graduate economics students and also policymakers.
'Understanding Modern Money' exposes flaws in the foundations of mainstream macroeconomics and suggests a better way to formulate policy that will benefit everyone living in capitalistic societies.
Towards Full Employment and Price Stability by Paul Winston McCracken Pdf
In 1975 a group of independent experts was appointed to study and report on the alternative policies OECD Member countries might follow to achieve full employment and price stability. This booklet contains the summary of their report, which concentrates on the experience and problems of the major OECD countries, while making generalisations for the 'OECD area' as a whole.
By showing that the basic assumptions if mainstream macroeconomics were and are flawed, the author aims to convince the reader that full employment and price stability are fully compatible goals in the modern world.
Author : Michael D. Bordo,Athanasios Orphanides Publisher : University of Chicago Press Page : 545 pages File Size : 46,5 Mb Release : 2013-06-28 Category : Business & Economics ISBN : 9780226066950
The Great Inflation by Michael D. Bordo,Athanasios Orphanides Pdf
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.
Full Employment Abandoned by William Mitchell,J. Muysken Pdf
This book by William Mitchell and Joan Muysken is both important and timely. It deals with the issue of the abandonment of full employment as an objective of economic policy in the OECD countries. It argues persuasively that macroeconomic policy has been restrictive over the recent, and not so recent past, and has produced substantial open and disguised unemployment. But the authors show how a job guarantee policy can enable workers, who would otherwise be unemployed, to earn a wage and not depend on welfare support. If such a policy is fully supported by appropriate fiscal and monetary programmes, it can create full employment with price stability, which the authors label as a Non-Accelerating-Inflation-Buffer Employment Ratio (NAIBER). This book is essential reading for any one wishing to understand how we can return to full employment as the normal state of affairs. Philip Arestis, University of Cambridge, UK This book dismantles the arguments used by policy makers to justify the abandonment of full employment as a valid goal of national governments. Bill Mitchell and Joan Muysken trace the theoretical analysis of the nature and causes of unemployment over the last 150 years and argue that the shift from involuntary to natural rate conceptions of unemployment since the 1960s has driven an ideological backlash against Keynesian policy interventions. The authors contend that neo-liberal governments now consider unemployment to be an individual problem rather than a reflection of systemic policy failure and that they are content to use unemployment as a policy instrument to control inflation and coerce the unemployed with work tests and compliance programmes rather than provide sufficient employment. They present a comprehensive theoretical and empirical critique of this policy approach, with a refreshing new framework for understanding modern monetary economies. The authors show that the reinstatement of full employment with price stability is a viable policy goal that can be achieved by activist fiscal policy through the introduction of a Job Guarantee. Full Employment Abandoned will appeal to graduate and postgraduate students and researchers of economics and politics with an interest in macroeconomic policy and the labour market, particularly unemployment and neo-liberal policy frameworks.
Author : Willem Thorbecke,Jerome Levy Economics Institute Publisher : Levy Economics Institute of Bard College Page : 32 pages File Size : 55,5 Mb Release : 2000 Category : Full employment policies ISBN : 0941276848
Work Time Regulation as Sustainable Full Employment Strategy by Robert LaJeunesse Pdf
Robert LaJeunesse looks beyond the 20th century arguments for shortening the work week. He writes a careful, convincing critique of traditional full employment policies in advocacy of an alternative macroeconomic paradigm. With an emphasis on greater socioeconomic participation, the author proposes a policy of work time regulation that is not only appropriate for a 21st century post-industrial economy, but speaks to concerns about balancing work and family, environmental sustainability, stabilizing incomes and prices, and social and economic well being. Through its unique conceptualization of employment relations as a social effort bargain, this book proposes that governments can achieve egalitarian and sustainable macroeconomic objectives by regulating work hours. Equally important to achieving sustainable full employment and price stability, work time regulation offers the capability for citizens living in an age of abundance to define themselves as something other than paid employees. Work time reform represents a first step in a process of enlightenment in which workers will create an identity through the whole of their relationships at work, home, community, and at play. There is certainly a role for government in fostering the pursuit of "loftier ideals" subsequent to a redistribution of work time, but the first precondition for enhanced human development is greater socioeconomic participation, which means more paid work for some and less for others. In addition to students and researchers in economics, sociology, and political science, this book will be of interest to policy makers, policy analysts, labour unionists, environmentalists, and other social reformers.
This timely collection will be the first of its kind to focus on the practical application of the government job guarantee (JG) for both developed and developing economies. Global case studies include: United States, China, Ghana, Argentina, Ireland, Iceland, and India.
