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Author | : Benjamin Higgins |
Publisher | : Routledge |
Total Pages | : 384 |
Release | : 2018-01-16 |
Genre | : Business & Economics |
ISBN | : 1351292358 |
Download Employment without Inflation Book in PDF, ePub and Kindle
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 | : Tim Hazledine |
Publisher | : Springer |
Total Pages | : 265 |
Release | : 1984-12-09 |
Genre | : Business & Economics |
ISBN | : 1349176974 |
Download Full Employment without Inflation Book in PDF, ePub and Kindle
Author | : John Grieve Smith |
Publisher | : |
Total Pages | : |
Release | : 1996 |
Genre | : Economics |
ISBN | : |
Download Full Employment Without Inflation Book in PDF, ePub and Kindle
Author | : Leon Hirsch Keyserling |
Publisher | : |
Total Pages | : 64 |
Release | : 1975 |
Genre | : Full employment policies |
ISBN | : |
Download Full Employment Without Inflation Book in PDF, ePub and Kindle
Author | : Michael D. Bordo |
Publisher | : University of Chicago Press |
Total Pages | : 545 |
Release | : 2013-06-28 |
Genre | : Business & Economics |
ISBN | : 0226066959 |
Download The Great Inflation Book in PDF, ePub and Kindle
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 | : Benjamin Higgins |
Publisher | : Routledge |
Total Pages | : 381 |
Release | : 2018-01-16 |
Genre | : Business & Economics |
ISBN | : 135129234X |
Download Employment without Inflation Book in PDF, ePub and Kindle
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 | : Committee for Economic Development |
Publisher | : |
Total Pages | : 92 |
Release | : 1972 |
Genre | : Business & Economics |
ISBN | : |
Download High Employment Without Inflation Book in PDF, ePub and Kindle
Author | : Stephen A. Marglin |
Publisher | : Harvard University Press |
Total Pages | : 921 |
Release | : 2020-07-14 |
Genre | : Business & Economics |
ISBN | : 0674971027 |
Download Raising Keynes Book in PDF, ePub and Kindle
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 | : John Herman Groesbeck Pierson |
Publisher | : |
Total Pages | : 264 |
Release | : 1980 |
Genre | : Full employment policies |
ISBN | : |
Download Full Employment Without Inflation Book in PDF, ePub and Kindle
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 | : Abba Ptachya Lerner |
Publisher | : Penguin Group |
Total Pages | : 204 |
Release | : 1973 |
Genre | : Business & Economics |
ISBN | : |
Download Flation: Not Inflation of Prices, Not Deflation of Jobs Book in PDF, ePub and Kindle
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.