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About this book
Growth patterns have changed radically over the last two decades, to which capital and the labour markets appear to have failed to adapt. Unemployment in Europe has been growing, almost without remission, to levels unseen since the Great Depression. These facts are somewhat at odds with the development of growth theory which has mainly been orientated towards an equilibrium full employment framework. The main message of equilibrium theory of fluctuations was precisely that the policy maker is impotent. Now, with the universal acceptance of endogenous growth theory, the common concensus proposition would be `we are all neo-classical for the short run and Keynesian for the long run' (investment being too important for growth to be left entirely in private hands).
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Table of contents (12 chapters)
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Front Matter
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Developments in the Theory of Growth
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Front Matter
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Capital and Labour Markets
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Front Matter
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Editors and Affiliations
Bibliographic Information
Book Title: Economics in a Changing World
Book Subtitle: Volume 5: Economic Growth and Capital Labour Markets
Editors: Jean-Paul Fitoussi
Series Title: International Economic Association Series
DOI: https://doi.org/10.1007/978-1-349-23953-5
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 1995
Hardcover ISBN: 978-0-333-60127-3Published: 19 April 1995
eBook ISBN: 978-1-349-23953-5Published: 12 June 1995
Series ISSN: 2662-6330
Series E-ISSN: 2662-6349
Edition Number: 1
Number of Pages: XXXII, 265
Topics: Labor Economics, International Economics, International Political Economy, Macroeconomics/Monetary Economics//Financial Economics, Economic Growth