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Economics in a Changing World

Name: Economics in a Changing World
Brand: Palgrave Macmillan
SKU: 04595909
Price: 179.66 EUR
Availability: InStock
Author: Jean-Paul Fitoussi
ISBN: 9780333601273

Jean-Paul Fitoussi

Language

English

Book Hardback

Libristo code: 04595909

Publishers Palgrave Macmillan, April 1995

Growth patterns have radically changed since the 1970s, to which capital and the labour markets appe... Full description

Libristo code: 04595909

437 b

179.66 €

351.39 лв

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Growth patterns have radically changed since the 1970s, to which capital and the labour markets appear to have failed to adapt. Unemployment in Europe has grown, 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 consensus 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).