An Orthodox Appraisal of the ‘Employment-Tariff’ Proposition

Ali M. El-Agraa

Chapter 4 in Trade Theory and Policy, 1984, pp 44-53 from Palgrave Macmillan

Abstract: Abstract In Chapter 3, Godley’s protectionism was discussed in macroeconomic terms. As stated there, it is rather odd that a one-period (short-to-medium term) Keynesian framework should be employed to formulate a long term stable equilibrium model. Therefore, in spite of Godley’s assertions to the contrary, the application of neo-classical concepts for an appraisal of his proposition is inevitable. The purpose of this chapter is to do precisely that in a brief and concise fashion — see Chapter 5 for a political economy approach.

Keywords: Indifference Curve; Commodity Space; Contract Curve; Production Subsidy; Production Possibility Frontier (search for similar items in EconPapers)
Date: 1984
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DOI: 10.1007/978-1-349-06943-9_4

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