Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policy-oriented science. This book summarizes what economists do and do not know about the inflation and recession that affected the U.S. economy during the years of the Great Stagflation in the mid-1970s. The topics discussed include the basic concepts of stagflation, turbulent economic history of 1971-1976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wage-price controls, fiscal policy, and monetary policy to the Great Stagflation is also elaborated. This publication is beneficial to economists and students researching on the history of the Great Stagflation and policy errors of the 1970s.
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.
This book sets forth both a theory and a comparative empirical analysis of stagflation, that peculiar combination of high unemployment, slow growth, and spurts of high inflation bedeviling the advanced industrial nations during the past ...
A leading economist argues that the implementation of an alternative labor payment system, in which a significant number of firms share profits or revenues with their employees--as opposed to the current fixed-wage system-would provide ...
Perhaps Galbraith's most thoughtful and eloquent successor is economist Robert Frank of Cornell University. Galbraith argued that much of modern consumption was unsatisfying and artificially stimulated by advertising.
Will it? If so, what form should it, or will it, take? These are the questions taken up in this book, in a series of contributions by policymakers and academics.
Following a story that runs from the pre-Great Depression era up until the Financial Crisis of 2007–11, this book reveals an intimate connection between new macroeconomic ideas and policies and the events in the real economy that inspired ...
M.E. Sharpe , 1979 ) ; Phillip Cagan , Persistent Inflation : Historical and Political Essays ( Columbia University Press , 1979 ) ; David P. Calleo , The Imperious Economy ( Harvard University Press , 1982 ) ; James Tobin ...
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications ...
This is a passionate call for a new respect of scientific innovations that benefit not only the powerful elites, but humanity as a whole.
In this volume Okun seeks to explain that loss of responsiveness by analyzing how modern labor and product markets work and how they are structured.