Globalisation, Polarisation and US Policy Activism

Gary A. Dymski

Chapter 5 in The Relevance of Keynesian Economic Policies Today, 1997, pp 78-106 from Palgrave Macmillan

Abstract: Abstract Money, goods, and ideas cross national borders with ever more ease; ever more economic activity is conducted outside national regulatory jurisdictions. Mainstream macroeconomists agree that increased income inequality is the consequence of this globalisation: technical change and freer cross-border flows of capital and goods have increased the demand for technically-adept labour, and decreased that for less-skilled labour. Social policies interfering with the free play of market forces can temporarily stave off greater income inequality, but only at the expense of increased longer-run unemployment and stagnation.

Keywords: Monetary Policy; Income Inequality; Fiscal Policy; Policy Activism; Credit Market (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1007/978-1-349-25425-5_5

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