A Wider Perspective

Robert Bigg

A chapter in Alvin Hansen, 2023, pp 389-422 from Palgrave Macmillan

Abstract: Abstract Hansen had a lifelong commitment to education, a belief in the primacy of human capital, and equality of opportunity. At its core this was a vision of potential being fulfilled, whether personal, communal, or economic. This was evident in a distinct normative, ethical, dimension to his thought. A tax dollar could be worth more than just its monetary value because of what it bought in terms of societal benefit: education, employment, health and culture instead of ephemeral gadgets or flashy chrome automotive tailfins. Likewise, stabilisation was not some simple target of price stability, nor just smoothing the business cycle, but rather creating a stable environment in which individuals, enterprise, and society as a whole could flourish. Employment and price stabilisation were only two dimensions of a complex nexus.

Keywords: Advertising; Alvin Hansen; American Keynesianism; Business cycle; Capitalism; Education; Equality; Growth; Human capital; International development; Mixed Economy; Population; Savings & investment; Stabilisation; Stagnation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:gtechp:978-3-031-42216-4_15

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DOI: 10.1007/978-3-031-42216-4_15

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