The Role Of Demand Management In The Maintenance Of Full Employment
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Author | : David A Vines |
Publisher | : Routledge |
Total Pages | : 313 |
Release | : 2013-06-17 |
Genre | : Business & Economics |
ISBN | : 1136708553 |
First published in 1983, this is the second of two volumes on the causes and cure of stagflation – that combination of mass unemployment and rapid inflation that is currently afflicting the mixed economies of the industrially developed world. The authors deplore the unemployment due to the failure of governments to adopt Keynesian measures for the expansion of economic activity, but recognise that in present conditions such measures would lead to an unacceptable and explosive inflation of money wages and prices. They therefore advocate a dual strategy of financial policies for a steady expansion of total money incomes combined with individual wage rates set at levels to promote employment. The book is of importance for all those concerned with macroeconomic theory and policy. The description of the meaning of a New Keynesian policy and of the arguments for it have been written in a way which should be intelligible to policy-makers and students, and not only to economists with technical training. Professional macroeconomists will be interested not only in these sections but also in the fully specified macroeconomic model used to analyse New Keynesian policies in economic terms and to carry out a counterfactual re-running of history. In addition, the unusually detailed exposition of the application of control techniques to a difficult multivariable control problem also makes the book of interest to control engineers who wish to acquaint themselves with recent generalisations of classical frequency response methods.
Author | : James Edward Meade |
Publisher | : Cambridge University Press |
Total Pages | : 120 |
Release | : 1995-10-27 |
Genre | : Business & Economics |
ISBN | : 9780521556972 |
'Have we given up trying to gain full employment?' 'If not, what should we be trying to do about it?' These are the fundamental questions that James Meade poses, and attempts to answer, in this short but timely book. As the issue of full employment moves once again to the centre of the political debate, Professor Meade draws our attention to a number of economic and financial factors which are neglected in debate, and suggests a novel package of changes which could be used to tackle the full employment problem. He condemns the neglect of macroeconomic analysis in designing full-employment policies, and asserts that the money value of total domestic production rather than the price level should be the object of a combined fiscal-monetary policy, which itself should focus on low interest rates rather than low tax rates.
Author | : W.A. Eltis |
Publisher | : Springer |
Total Pages | : 470 |
Release | : 1988-06-18 |
Genre | : Business & Economics |
ISBN | : 1349103381 |
A collection of papers on the relevance of Keynes' economic theory after 50 years. It covers a diversity of topics relating the theory to subjects varying from the effect of fiscal reflation upon employment, and the significance of public sector borrowing to the international dimension.
Author | : Tae-Hee Jo |
Publisher | : Routledge |
Total Pages | : 550 |
Release | : 2017-07-28 |
Genre | : Business & Economics |
ISBN | : 1317480295 |
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a ‘pluralistic’ heterodox perspective. Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics; Régulation theory; the Social Structure of Accumulation approach; and ecological economics. They explain the structural properties and dynamics of capitalism, as well as propose economic and social policies for the benefit of the majority of the population. This book aims, firstly, to provide realistic and coherent theoretical frameworks to understand the capitalist economy in a constructive and forward-looking manner. Secondly, it delineates the future directions, as well as the current state, of heterodox economics, and then provides both ‘heat and light’ on controversial issues, drawing out the commonalities and differences among different heterodox economic approaches. The volume also envisions transformative economic and social policies for the majority of the population and explains why economics is, and should be treated as, a social science. This Handbook will be of compelling interest to those, including students, who wish to learn about alternative economic theories and policies that are rarely found in conventional economics textbooks or discussed in the mainstream media, and to critical economists and other social scientists who are concerned with analyzing pressing socio-economic issues.
Author | : A. Thirlwall |
Publisher | : Springer |
Total Pages | : 399 |
Release | : 2015-02-26 |
Genre | : Business & Economics |
ISBN | : 1137409487 |
This volume of essays contains 16 papers the author has written over the last 40 years on various aspects of the life and work of John Maynard Keynes and Nicholas Kaldor. It covers both theoretical and applied topics and highlight the continued relevance of Keynesian and Kaldorian ideas for understanding the functioning of capitalist economies.
Author | : John Keane |
Publisher | : Routledge |
Total Pages | : 259 |
Release | : 2018-12-07 |
Genre | : Business & Economics |
ISBN | : 0429675437 |
First published in 1986. This book analyses, at an introductory level, the four main and competing political interpretations of the cause of unemployment and the future of paid work – social democracy, free market liberalism, the disciplinary state, and utopian socialism. Considered together these four interpretations are highly revealing – and challenging. They raise considerable doubts about the viability or desirability of policies design to ‘get the jobless back to work’. Keane and Owens’ central argument is that the post-war policy of full male employment, as well as its politic, economic and social preconditions, are not repeatable, Starting with Keynes and Beveridge, they explain how and why full employment welfare states developed in Britain and the US, and how they had in turn been replaced by the ‘strong state, free market’ programmes of Thatcher and Reagan. By focusing on an issue which was, and still is, at the heart of political debate, the book provides a lucid and approachable guide to four key strands of political thought it Britain and the US. It will be an ideal introductory text for students of politics, sociology and economics.
Author | : Jagdish Handa |
Publisher | : World Scientific Publishing Company |
Total Pages | : 611 |
Release | : 2010-09-24 |
Genre | : Business & Economics |
ISBN | : 9814365238 |
This book presents the stylized facts on the important variables (output, inflation, money supply and interest rates, etc.) of the macro economy and uses them to differentiate how well particular economic theories perform or fail to do so. On the determination of aggregate demand, this book presents two approaches: the traditional IS-LM analysis under the assumption that the money supply is exogenous because the central bank uses its monetary policy to control it, and the emerging IS-IRT analysis under the assumption that the interest rate is the exogenous monetary policy variable set by the central bank to manipulate aggregate demand in the economy. The IS-IRT analysis is important for the macro analyses of many economies, yet is totally neglected in most textbooks on macroeconomics. The chapter on Paradigms in Economics introduces students to the heritage of ideas in macroeconomics, and the evolution of ideas and approaches over the last two centuries. It also provides the justification for the simultaneous relevance of both Classical ideas and Keynesian ones. The two growth theory chapters go beyond the Solow growth model to cover the broad evolution of growth from Malthus's theory to the present endogenous approaches, and the link between money supply, inflation and growth over very long periods.
Author | : Nigel Healey |
Publisher | : Routledge |
Total Pages | : 288 |
Release | : 2002-09-26 |
Genre | : Business & Economics |
ISBN | : 1134892268 |
Recent years have witnessed radical changes in British economic policy. However, the recession of the early nineties has cast doubts about whether these were successful. The much heralded economic miracle is now much tarnished. This book offers a timely and comprehensive non-technical throughout it analyses the basis of policy making as well as discussing its impact on economic performance.
Author | : Jagdish Handa |
Publisher | : Routledge |
Total Pages | : 785 |
Release | : 2002-11-01 |
Genre | : Business & Economics |
ISBN | : 1134638094 |
A comprehensive overview of advanced monetary economics, integrating the presentation of monetary theory with empirical formulations and their empirical tests. Unlike most texts this book brings together in a single unified source the core areas of monetary economics. Key features include: * cross-country comparison of central banking in the US, UK and developing countries * theories and empirical studies on money demand, including precautionary and buffer stock models and monetary aggregation * detailed comparison of Keynesian and modern classical macroeconomic theoretical and policy models * a focus on the role of money and financial institutions and growth.
Author | : J. E. Meade |
Publisher | : Routledge |
Total Pages | : 267 |
Release | : 2013-06-17 |
Genre | : Business & Economics |
ISBN | : 1136708618 |
This reissue, first published in 1982, is the first of two volumes on the causes and cure of Stagflation - the two-headed monster that combines mass unemployment with rapid inflation, which affected contemporary economies across the industrially developped world in the 1970s. Professor Meade outlines the nature of the problem, contrasting the Great Slump of the 1930s with the Great Stagflation of the 1970s and comparing the Orthodox Keynesian and Monetarist approaches with the New Keynesian strategy. Various proposals for the reform of wage-fixing institutions are discussed, including the limitation of trade-union bargaining powers, an official incomes policy, labour management and ownership in business, and tax or subsidy measures to discourage inflationary rises in wages and prices. The book will be essential reading for all concerned with both the theory and policy of contemporary macroeconomics, industrial relations, labour economics and labour law. It has been written so that the general argument in the main text is accessible to the general reader as well as of interest to the professional economist.