Demand Management

David Reisman
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David Reisman: Nanyang Technological University

Chapter 7 in James Edward Meade, 2018, pp 147-165 from Palgrave Macmillan

Abstract: Abstract In the 1930s Meade, like most Keynesians, assumed that prices would be stable but that monetary and fiscal management were needed to reduce the slack in the Great Depression. The key would be public spending on infrastructure. It would prime the income-expenditure pump and end the vicious cycle of under-consumption. Meade evaluated the various monetary and fiscal tools assessing interest rates, taxes, transfers and other instruments to establish which would have the quicker impact. Meade was an internationalist, all too aware of the harm that free riders could do. Global cooperation was essential if the world as a whole were to lift itself out of underemployed potential. Meade in the 1950s changed his focus. He began to identify inflation as the greater problem.

Keywords: Great Depression; Unemployment; Macroeconomic policy; International monetary cooperation; Inflation (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:pal:gtechp:978-3-319-69281-4_7

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DOI: 10.1007/978-3-319-69281-4_7

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