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Full Employment and Price Stability in a Global Economy
This book offers new policy prescriptions from the post Keynesian perspective to achieve full employment without inflation. Paul Davidson and Jan Kregel – both world renowned economists – have selected papers that rigorously examine real world issues including: the challenge of attaining external balance with internal growth and employment; speculation and volatile financial markets in the quest to achieve full employment without inflation; the role of money in combating unemployment; the role of institutions in stabilizing economies; the advantages and disadvantages of the Euro and its implications in the world economy; and Keynes’s plan to reform the international payments system in the post war era.
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Contributors
Contents
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The economic performance of many countries has deteriorated significantly during the last decade. The 1990s witnessed a global recession, the Mexican currency crisis and later, the Asian and Russian crises. The objective of full employment and price stability appears to be an illusory goal for many of the economies of the emerging global market system. This book offers new policy prescriptions from the post Keynesian perspective to achieve full employment without inflation. Paul Davidson and Jan Kregel – both world renowned economists – have selected papers that rigorously examine real world issues including:
• the challenge of attaining external balance with internal growth and employment
• speculation and volatile financial markets in the quest to achieve full employment without inflation
• the role of money in combating unemployment
• the role of institutions in stabilizing economies
• the advantages and disadvantages of the Euro and its implications in the world economy
• Keynes’s plan to reform the international payments system in the post war era
The book will be welcomed by economists, especially those interested in international economics, by politicians, policymakers and by all those concerned with global employment and inflation issues.
• the challenge of attaining external balance with internal growth and employment
• speculation and volatile financial markets in the quest to achieve full employment without inflation
• the role of money in combating unemployment
• the role of institutions in stabilizing economies
• the advantages and disadvantages of the Euro and its implications in the world economy
• Keynes’s plan to reform the international payments system in the post war era
The book will be welcomed by economists, especially those interested in international economics, by politicians, policymakers and by all those concerned with global employment and inflation issues.
Contributors
Contributors: P. Arestis, F. Carvalho, P. Davidson, D. Dequech, G. Dymski, M. Forstater, H. Hieke, D. Isenberg, J. Kregel, J. López, G. Mántey, J.S.L. McCombie, W. Mosler, E. Nasica, M. Sawyer, N. Shapiro, R. Skidelsky, A. Terzi
Contents
Contents: Preface 1. Keynes’s ‘New Order’ 2. Economic Integration, the EMU and European Regional Growth 3. Prospects for the Single European Currency and Some Proposals for a New Maastricht 4. External Balances, Internal Growth and Employment 5. Thoughts on Speculation and Open Markets 6. Financial Market Behavior 7. On Banks’ Liquidity Preference 8. Financial Globalization and Housing Policy 9. A General Framework for the Analysis of Currencies and Commodities 10. Price Stability and Full Employment as Complements in a New Europe 11. Competition and Employment 12. Another Look at Wage and Price Flexibility as the Solution to Unemployment 13. Employment Policies in an Open Semi-industrialized Economy 14. Thwarting Systems and Institutional Dynamics Index
