The Importance of Economic Growth and Full Employment

E Ray Canterbery

Chapter 14 in The Rise and Fall of Global Austerity, 2015, pp 231-269 from World Scientific Publishing Co. Pte. Ltd.

Abstract: What John Maynard Keynes wrote in 1936 rings with truth even today. The lack of full employment is well understood because its ills are so visible. Not so the problems of an arbitrary and inequitable distribution of wealth and incomes. These are measured less frequently and are for the most part invisible. The Forbes 400 are well-known and widely publicized but are thought to comprise the exceptional. True, they are exceptional, being the wealthiest of them all, a small slice of the top 1% of the wealth distribution, the tip of the top. We hear references to the top 1%, but that is all. Like the poor, it is presumed that they will always be with us…

Keywords: Austerity; Expansionary Austerity; Housing Bubble; Global Great Recession; Austerity Lobby; Monetary Policy; Fiscal Policy; Incomes Policy; Full Employment; Public Debt; Austerity in Europe; Domestic Inequality; Global Inequality; Economic Growth; Post Keynsesians; John Maynard Keynes; Michal Kalecki; Piero Sraffa; Hyman Minsky; Vita Theory; Trickle-Down Economics; Keynesians; Trickle-Up Economics; Keynesian Economics; Trends in Suicide Rates; Health and The Economy; Alan Greenspan; Ben Benanke; Janet Yellen; Federal Reserve Board; European Central Bank; The Euro (search for similar items in EconPapers)
Date: 2015
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