Full Employment Regained [Paperback]

In this short book James Meade asks the questions 'Have we given up trying to achieve full employment?' and 'What should we be doing about it?'This book condemns neglect of macroeconomic analysis in designing Full-Employment policies. It argues that the money value of total domestic production, rather than the price level, should be the objective of a combined fiscal-monetary policy emphasizing low interest rates, rather than low tax rates.This book condemns neglect of macroeconomic analysis in designing Full-Employment policies. It argues that the money value of total domestic production, rather than the price level, should be the objective of a combined fiscal-monetary policy emphasizing low interest rates, rather than low tax rates.This book condemns neglect of macroeconomic analysis in designing Full-Employment policies. The money value of total domestic production rather than the price level should be the objective of a combined fiscal-monetary policy emphasizing low interest rates rather than low tax rates. Full Employment without unacceptable inflation or poverty needs radical reforms, such as labor-capital partnerships, low real wage rates offset by a universal tax-free social benefit, abolition of national insurance contributions, and highly progressive taxation of income and wealth for budget surpluses to redeem national debt. Free international movements of capital funds impede independent national reforms.Foreword Robert M. Solow; Preface; 1. Introduction; 2. Demand management; 3. The setting of prices and of wage rates; 4. The distribution of income and wealth; Appendix A: The distinction between underdeveloped and overdeveloped economies; Appendix B: A diagrammatic representation of a citizen's income financed by a withdrawal surcharge; 5. External relations; 6. Conclusions; References and suggestions for further reading.