Download or read book Employment without Inflation written by Benjamin Higgins and published by Routledge. This book was released on 2018-01-16 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Full Employment without Inflation written by Tim Hazledine and published by Springer. This book was released on 1984-12-09 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Full Employment Without Inflation written by John Herman Groesbeck Pierson and published by . This book was released on 1980 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Full Employment Without Inflation written by Leon Hirsch Keyserling and published by . This book was released on 1975 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Full Employment Without Inflation written by John Grieve Smith and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book GENERAL THEORY OF EMPLOYMENT INTEREST AND MONEY written by JOHN MAYNARD. KEYNES and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Raising Keynes written by Stephen A. Marglin and published by Harvard University Press. This book was released on 2020-07-14 with total page 921 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Flation Not Inflation of Prices Not Deflation of Jobs written by Abba Ptachya Lerner and published by Penguin Group. This book was released on 1973 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to the economic theory of inflation, economic recession and economic policy in the USA - covers price controls and price policy, sound financing and spending, currency, incomes policy, the gold standard, foreign exchange issues, etc.
Download or read book Price Stability and Full Employment written by R. A. Rayman and published by . This book was released on 1975 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Finance Development September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Download or read book High Employment Without Inflation written by Committee for Economic Development and published by . This book was released on 1972 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Full Employment Without Inflation written by James Edward Meade and published by . This book was released on 1996 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Employment and Economic Performance written by Jonathan Michie and published by OUP Oxford. This book was released on 1997 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: From a post-war assumption that full employment could be maintained through demand management techniques, we now live in an entirely different world. The contributors to this volume consider whether full employment is possible or affordable.
Download or read book Public Service Employment written by L. Randall Wray and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the last few decades, monetary policy has been geared toward raising the unemployment rate as a means of achieving stable prices. However, it is possible to have stable prices as well as full employment, via a federal public service employment (PSE) program that provides jobs for those ready, willing, and able to work at the established wage. Such a program would not be inflationary; on the contrary, under some circumstances it would even reduce inflationary pressures. It could lead to an increase in federal government spending, possibly even a deficit; however, the irrational horror of deficits should not be allowed to stand in the way of the generation of full employment. Moveover, such a program would result in the reduction or elimination of current "welfare" payments, such as food stamps, unemployment insurance, and (if health benefits are included) Medicaid expenses. There would also be a positive, albeit hard-to-measure, impact on family wellbeing (less crime, divorce, child abuse, etc.). Thus, the real cost of the program in terms of the deficit and of society in general would certainly be less than the nominal cost. This paper describes the operation of a PSE program; examines the implications for employment, the federal budget, wages, and prices; and addresses objections to initiating and administering such a program.
Download or read book Beyond Welfare and Full Employment written by Dean Amory Worcester and published by . This book was released on 1972 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph proposing that existing welfare policies in the USA be succeeded by an incomes policy which would provide a guaranteed minimum family income without reducing employment incentives - considers the effect of income security on unemployment, and covers unemployment benefit, financing of welfare programmes, social protection, employment policies, employment opportunity, the minimum wage, employees attitudes, etc. Diagrams and references.
