Introduction

James Perkins

Chapter 1 in The Macroeconomic Mix to Stop Stagflation, 1979, pp 1-3 from Palgrave Macmillan

Abstract: Abstract During recent years the world economy has been plagued by the dual problem of inflation and unemployment. To a considerable extent the problem has been manmade; for governments in many major countries have been reluctant—rather than unable—to take the measures necessary to raise the level of activity to nearer the economic potential of their economies, because they believe that only by holding down the level of activity (that is, generally by holding up the level of unemployment and of spare capacity) can they restrain the rate of inflation.

Keywords: Price Level; Dual Problem; Macroeconomic Policy; Spare Capacity; Exchange Rate Policy (search for similar items in EconPapers)
Date: 1979
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DOI: 10.1007/978-1-349-16039-6_1

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