Commitment to Full Employment

The 15 papers collected in this book encompass important macroeconomic theories and policies espoused by 1996 Nobe laureate economist Willaim S. Vickrey and his associates. Vickrey wrote a number of papers in the last few years of his life elucidating his "commitment to full employment" as a prerequisite for a decent standard of living for all. Drawing or the foundation of Vickrey's work, the contributors expand and elaborate on issues relative to full employment theory and policy, and on related macro-policy issues. This accessible book includes two previously unpublished Vickrey papers, a foreword by Robert Heilbroner, and keynote papers by Paul Davidson and James K. Gailbraith. It is directed toward students and policy makers interested in macroeconomic theory, employment policy, and political economy.

(Bookdata)

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Foreword: The Trouble with Capitalism, Robert Heilbroner; Introduction: Commitment to Full Employment: Macroeconomics and Social Policy in Memory of William S. Vickrey, Aaron W. Warner; 1. Savings-Recycling Public Employment: Vickrey's Assets-Based Approach to Full Employment and Price Stability, Mathew Forsta; 2. (Full) Employment Policy: Theory and Practice, Dimitri B. Papadimitriou; 3. Direct Job Creation, Philip Harvey; 4. Vickrey, Macro Policy, and Chock-Full Employment, David Colander; 5. The Simple Theory of Unemployment, Edward J. Nell; 6. Fuller Employment: William Vickrey's Challenge to Economists, C. Lowell Harriss; 7. Full Employment and the Future of the Welfare State, Gertrude Schaffner Goldberg; 8. A Humanistic Concept of Full Employment Transcends the Welfare State, Helen Lachs Ginsburg; 9. Economics and the Welfare State, Sumner M. Rosen; 10. Rethinking Full Employment: Unemployment, Wages, and Race, Heather Boushey; 11. Commitment to Full Employment in a Global Economy, Paul Davidson; 12. Why a Global Clearing Union Based on Fixed Exchange Rates Won't Work: A Response to Paul Davidson, Thoma s L. Palley; 13. Employment and International Financial Markets, John Langmore; 14. The Keynesian Economics of Unemployment and Inequality, James K. Galbraith; 15. We Need a Bigger Deficit, William S. Vickrey; 16. Fifteen Fatal Fallacies of Financial Fundamentalism: A Disquisition on Demand Side Economics, William S. Vickrey

(Whitaker)