The crisis of orthodox macroeconomic policy: the case for a renewed commitment to full employment

M. Muqtada

ILO Working Papers from International Labour Organization

Abstract: Critically reviews the macroeconomic experiences of the past three decades to argue the case against orthodox macroeconomics. Suggests that the prevailing orthodoxy in macroeconomics needs to give way to an alternative policy paradigm in which the Copenhagen commitment on full employment, subsequently incorporated as a Millennium Development Goal, plays a central role. The global recession of 2008-2009 reinforces the potency of this proposition.

Keywords: economic policy; monetary policy; role of World Bank; role of IMF.; economic recession; employment; politique économique; politique monétaire; rôle de la Banque mondiale; rôle du FMI; récession économique; emploi; política económica; política monetaria; papel del Banco Mundial; papel del FMI; recesión económica; empleo (search for similar items in EconPapers)
Pages: 34 pages
Date: 2010
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Citations: View citations in EconPapers (7)

Published in Employment working paper series

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