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Employment and Economic Performance: Jobs, Inflation, and Growth
By Jonathan Michie, John Grieve Smith
278 pages
- Contributors:
- Includes content by:
- Publisher:
- Oxford University Press
- Place of publication:
- New York
- Publication year:
- 1997
- Subjects:
Synopsis
With the end of the post-war boom in the early 1970s, the world economy has experienced large scale unemployment. From an assumption that the unemployment problem had been solved, and that full employment could be maintained through demand management techniques, we now live in an entirely different world. Any suggestion of a return to full employment is met with questions of whether such a thing is possible, whether it would not lead to inflation or to excessive trade union power, or in the case ...
With the end of the post-war boom in the early 1970s, the world economy has experienced large scale unemployment. From an assumption that the unemployment problem had been solved, and that full employment could be maintained through demand management techniques, we now live in an entirely different world. Any suggestion of a return to full employment is met with questions of whether such a thing is possible, whether it would not lead to inflation or to excessive trade union power, or in the case of individual economies to unsustainable balance of payment deficits. The contributors to this volume ask whether full employment policies would be affordable. Would they lead to yawning fiscal deficits which would in the end require a U-turn in policy with unemployment reappearing? This well-informed and original contribution to current policy debate faces up to these questions and considers what would be involved in a move to much lower levels of unemployment.
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Table of contents
The first page of every section is available free to non-members – click a section heading to start reading now!
- Title Page iii
- Preface and Acknowledgements v
- Contents vii
- List of Figures ix
- List of Tables x
- List of Contributors xii
- Foreword xiii
- Conclusion xv
- Introduction 1
- Part 1 - Global Lessons and Prospects 9
- 1 - Liberalization and Globalization: an Unhealthy Euphoria 11
- 2 - Expansionary Policy for Full Employment in the United States: Retrospective on the 1960s and Current Period Prospects 36
- 3 - Effective Demand and Disguised Unemployment 76
- Part II - Unemployment and Inequality 95
- 4 - Economic Functioning, Self-Sufficiency, and Full Employment 97
- 5 - Unemployment, Wage Dispersion, and Labour-Market Flexibility 123
- Title Page iii
- Preface and Acknowledgements v
- Contents vii
- List of Figures ix
- List of Tables x
- List of Contributors xii
- Foreword xiii
- Conclusion xv
- Introduction 1
- Part 1 - Global Lessons and Prospects 9
- 1 - Liberalization and Globalization: an Unhealthy Euphoria 11
- 2 - Expansionary Policy for Full Employment in the United States: Retrospective on the 1960s and Current Period Prospects 36
- 3 - Effective Demand and Disguised Unemployment 76
- Part II - Unemployment and Inequality 95
- 4 - Economic Functioning, Self-Sufficiency, and Full Employment 97
- 5 - Unemployment, Wage Dispersion, and Labour-Market Flexibility 123
- 6 - Inflation, Economic Performance, and Employment Rights 153
- Part III - Pay and Employment Strategies 175
- 7 - Is There a Pay Problem? 177
- 8 - Economic Policy, Accumulation, and Productivity 194
- 9 - Devising a Strategy for Pay 205
- Part IV - Policies for Full Employment 219
- 10 - Paying for Job Creation 221
- References 252
- Index 255