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Item Details
| Title:
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ECONOMICS IN A CHANGING WORLD
VOLUME 5: ECONOMIC GROWTH AND CAPITAL LABOUR MARKETS |
| By: |
Jean-Paul Fitoussi (Editor), Anthony B. Atkinson |
| Format: |
Hardback |
| List price:
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£126.00 |
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We currently do not stock this item, please contact the publisher directly for
further information.
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| ISBN 10: |
0333601270 |
| ISBN 13: |
9780333601273 |
| Publisher: |
PALGRAVE MACMILLAN |
| Pub. date: |
19 April, 1995 |
| Series: |
International Economic Association Series |
| Pages: |
265 |
| Description: |
This text examines how growth patterns have changed since the 1970s, to which capital and the labour market have failed to adapt. The book shows how the presence of high unemployment is at odds with the development of the growth theory, which relies on an equilibrium full employment framework. |
| Synopsis: |
Growth patterns have changed radically over the last two decades, to which capital and the labour markets appear to have failed to adapt. Unemployment in Europe has been growing, almost without remission, to levels unseen since the Great Depression. These facts are somewhat at odds with the development of growth theory which has mainly been orientated towards an equilibrium full employment framework. The main message of equilibrium theory of fluctuations was precisely that the policy maker is impotent. Now, with the universal acceptance of endogenous growth theory, the common concensus proposition would be `we are all neo-classical for the short run and Keynesian for the long run' (investment being too important for growth to be left entirely in private hands). |
| Illustrations: |
XXXII, 265 p. |
| Publication: |
UK |
| Imprint: |
Palgrave Macmillan |
| Returns: |
Non-returnable |
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