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A companion text to "Making the Economy Work", this covers aspects of the Employment Institute's published output in its first three years. Based on items produced by the Institute, it explains why alternative action to "monetarism" could have avoided the rise in unemployment in the early 1980s.
This book will appeal to upper level students, scholars and researchers of economics and economic growth as well as those more specifically involved in labour, microeconomics and the history of economic thought.
Study on interrelations among unemployment, innovations, business cycles and economic development - discusses the theoretical background, clustering of inventions and innovations (partic. Electronics industry), historical and current trends (1870-1980) and long term fluctuations in research and development, investment, economic growth, economic structure and employment creation, etc.; stresses the need for well-conceived economic policies to simultaneously promote technological change and combat unemployment and inflation. Graphs and references.
This collection of work by Lawrence Summers and colleagues Kim Clark, James Poterba, Gregory Mankiw, Julio Rotemberg, and Olivier Blanchard explores new theories of joblessness that could eventually explain why unemployment remains high despite relatively healthy economic growth. It is based on the notion that joblessness is an important, measurable, and definable concept of pervasive importance in modern economies. Understanding Unemployment contains a number of articles that have changed the way economists think about unemployment. These examine the burden of unemployment, the extent to which normal measures understate its consequences, its relationship to supply and demand factors, and the role of unions. Substantial introductory and concluding chapters present new and original material on the crucial facts that any theory of unemployment must grapple with, and the types of theories needed to accommodate the empirical facts of today's unemployment. Lawrence H. Summers is Vice President and Chief Economist at the World Bank, Professor of Economics at Harvard University, and Research Associate at the National Bureau of Economic Research. He is editor of the series Tax Policy and the Economy.
Issues concerning and which can be influenced by Congress regarding unemployment rates.
The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
"The stalled rebound of the labor market through September 2011 has prompted speculation about a double-dip recession and renewed calls for measures to stimulate the economy beyond those Congress has previously enacted. From a public policy perspective, the main driver of the unemployment rate is the pace of output growth. This report first examines the long-run relationship between the two economic variables and then narrows its focus to the periods of recovery from the postwar recessions"--Page 2.
Managing Without Growth offers a compelling argument for the need for a new policy focus in the rich nations. Peter Victor argues that it is time for our obsession with economic growth to end. A new focus on human well-being must replace our more is better philosophy. Brett Dolter, Briarpatch Magazine Peter Victor clearly presents the arguments as to why already relatively rich countries may have to manage low or no growth in their economies if they wish to address rather than continue contributing to global environmental problems. His modelling suggests that managing without growth need not be the economic disaster that is so often assumed. This is a lucid book that provides an excellent introduction to this important but neglected area. Paul Ekins, King's College London, UK At last, Managing Without Growth, a book that puts economics in its proper place within the real world and points the direction we must go in confronting the ecological crisis of the planet. As an economist, environmental studies professor Peter Victor is eminently qualified for the task. He examines some of our most fundamental assumptions and beliefs about the market, pricing, free trade and growth, prosperity and happiness that too often preclude a serious consideration of the environment and economy. His book couldn t be a more timely and important analysis of the destructive consequences of aspiring to endless growth and downloading the costs onto nature itself. He makes a powerful case for the need to work deliberately towards a steady state economy where the real world of the biosphere should set the limits to our activity. Victor s book should be at the basis for our discussion of these critical issues today. David Suzuki, broadcaster and activist Peter Victor analyses the critical policy question of our time, how to manage our economy equitably and efficiently without growing beyond biophysical limits. He reasons carefully and rigorously, yet pulls no punches in drawing conclusions that some will consider radical. A superb book! Herman E. Daly, University of Maryland, US Overcoming our addiction to economic growth is one of the most important challenges for the 21st century. Peter Victor s masterful summary of the history and fallacies of this particularly pervasive and increasingly dangerous addiction will be a great help in getting over it. A sustainable and desirable future requires clearly differentiating between bigger and better and a recognition that in the overdeveloped West these two have parted ways. Peter Victor s book will help us slow down by design, not disaster, and understand how that slowing down will in fact increase our quality of life. Robert Costanza, The University of Vermont, US Peter Victor s book is a carefully crafted argument for managing without growth . It is not only an up-to-date survey of the latest thinking on energy, climate, and population, it offers practical policy responses to these challenges. This book is a must read for academics and policymakers concerned with environmental integrity and human wellbeing. John Gowdy, Rensselaer Polytechnic Institute, US Peter Victor challenges the priority that rich countries continue to give to economic growth as an over-arching objective of economic policy. The challenge is based on a critical analysis of the literature on environmental and resource limits to growth, on the disconnect between higher incomes and happiness, and on the failure of economic growth to meet other key economic, social and environmental policy objectives. Shortly after World War II, economic growth became the paramount economic policy objective in most countries, a position that it maintains today. This book presents three arguments on why rich countries should turn away from economic growth as the primary policy objective and pursue more specific objectives that enhance wellbeing. The author contends that continued economic growth worldwide is unrealistic due to environmental and