Synopses & Reviews
This book condemns neglect of macroeconomic analysis in designing Full-Employment policies. The money value of total domestic production rather than the price level should be the objective of a combined fiscal-monetary policy emphasizing low interest rates rather than low tax rates. Full Employment without unacceptable inflation or poverty needs radical reforms, such as labor-capital partnerships, low real wage rates offset by a universal tax-free social benefit, abolition of national insurance contributions, and highly progressive taxation of income and wealth for budget surpluses to redeem national debt. Free international movements of capital funds impede independent national reforms.
Synopsis
Full employment has once again become a central topic in the political debate. This short book by James Meade asks the fundamental questions 'Have we given up trying to gain full employment?' and 'What should we be trying to do about it?' In a simple non-technical discussion Meade draws attention to a number of economic and financial factors which are neglected in the current debate, and suggests a novel package of changes in economic and financial policies and institutions which could be used to tackle the full employment problem.
Description
Includes bibliographical references (p. 89) and index.
Table of Contents
Foreword Robert M. Solow; Preface; 1. Introduction; 2. Demand management; 3. The setting of prices and of wage rates; 4. The distribution of income and wealth; Appendix A: The distinction between underdeveloped and overdeveloped economies; Appendix B: A diagrammatic representation of a citizen's income financed by a withdrawal surcharge; 5. External relations; 6. Conclusions; References and suggestions for further reading.