Keynes and economic policy : the relevance of The general theory after fifty years
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Bibliographic Information
Keynes and economic policy : the relevance of The general theory after fifty years
Macmillan Press in association with the National Economic Development Office, 1988
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Includes index
Description and Table of Contents
Description
This is a collection of papers on the relevance of Keynes' economic policy theory after 50 years. Keynes published the "General Theory" in 1936 when UK unemployment was above 10%. With unemployment equally high 50 years later, the British National Economic Development Office invited a group of economists to examine his theories. The contributors were asked to consider which of Keynes' contributions are still relevant to economic policy and which have been superseded by more recent work, or discredited by the inflation of the 1970s and 1980s. They focus specially on the adequacy of market forces for the achievement of high employment, the link between money, wages and employment, the effect of fiscal reflation upon employment, the inflationary impact of fiscal policy, and the significance of public sector borrowing. Walter Eltis has also written "Britain's Economic Problem" and "The Classical Theory of Economic Growth".
Table of Contents
- Part 1 The adequacy of market forces for the achievement of high employment: are market forces adequate to maintain full employement - if not, can demand management policies be relied upon to fill the gap, Jo Artis
- the role of demand management in the maintenance of full employment, Bennett McCallum. Part 2 Money, wages and employment: wages and unemployment half a century on
- Patrick Minford
- wages and economic activity, Stephen Nickell. Part 3 The effect of fiscal reflation upon employment: the effect of fiscal reflation upon employment, Francis Breddon, Alan Budd et al
- aspects of the theory of fiscal policy, Maurice Preston. Part 4 The inflationary impact of fiscal policy : inflation and fiscal expansion, Christopher Taylor
- is fiscal expansion inflationary, Peter Sinclair
- Part 5 The significance of public sector borrowing: government deficits and debts - the necessity and cost of adjustment - the case of Italy, Giampaolo Galli and Rainer Masera
- measures of fiscal stance and rules for stabilizing the economy - the case for separating measurement from policy, Marcus Miller and Alan Sutherland. Part 6 Policy to control interest rates: interest rates and macroeconomic policy, J. Flemming
- interest rates and the conduct of monetary policy, Geoffrey Wood. Part 7 Should reflationary fiscal policy have priority over monetary policy: Monetary and fiscal policy in the UK, Alan A.Walters
- Should fiscal policy rule the roost - the coordination of monetary and fiscal policy, David Currie. Part 8 Keynesian policy in a historical context: Keynes on interwar economic policy, N.H.Dimsdale
- Keynes and the TUC in the 1930s and the 1980s, Bill Callaghan
- Keynesian and other explanations of post-war macro-economic trends, R.C.O.Matthews and A.Bowen. Part 9 The international dimension : how valid is international Keynesianism, Max Corden. Part 10 Keynes and UK and German economic policy: the irrelevance of Keynes to German economic policy and to international economic cooperation in the 1980s, Ernst Helmstadter
- the UK government's financial strategy , Sir Terence Burns. Conclusion: The continuing relevance of Keynes to economic policy, Walter Eltis.
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