hardback with blue laminated boards, yellow lettering, fresh and clean copy from a Cambridge college library, hardly used, very good indeed

Demand Management: Stagflation: 2

Business & Money

Vines, David

Meade, J.E.

Maciejowski, Jan Marian

Economics

Unwin Hyman

First published in 1983, this is the second of two volumes on the causes and cure of stagflation – that combination of mass unemployment and rapid inflation that is currently afflicting the mixed economies of the industrially developed world. The authors deplore the unemployment due to the failure of governments to adopt Keynesian measures for the expansion of economic activity, but recognise that in present conditions such measures would lead to an unacceptable and explosive inflation of money wages and prices. They therefore advocate a dual strategy of financial policies for a steady expansion of total money incomes combined with individual wage rates set at levels to promote employment.  The book is of importance for all those concerned with macroeconomic theory and policy. The description of the meaning of a New Keynesian policy and of the arguments for it have been written in a way which should be intelligible to policy-makers and students, and not only to economists with technical training. Professional macroeconomists will be interested not only in these sections but also in the fully specified macroeconomic model used to analyse New Keynesian policies in economic terms and to carry out a counterfactual re-running of history. In addition, the unusually detailed exposition of the application of control techniques to a difficult multivariable control problem also makes the book of interest to control engineers who wish to acquaint themselves with recent generalisations of classical frequency response methods.

Demand Management (Stagflation, V. 2)

Why Keynes is relevant to today's global economic crisis, and how Keynesian ideas can point the way to renewed economic growth.
As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the economists Peter Temin and David Vines provide an accessible introduction to Keynesian ideas that connects Keynes's insights to today's global economy and offers readers a way to understand current policy debates. They survey economic thinking before Keynes and explain how difficult it was for Keynes to escape from conventional wisdom. They also set out the Keynesian analysis of a closed economy and expand the analysis to the international economy, using a few simple graphs to present Keynes's formal analyses in an accessible way. Finally, they discuss problems of today's world economy, showcasing the usefulness of a simple Keynesian approach to current economic policy choices. Keynesian ideas, they argue, can lay the basis for a return to economic growth.

Keynes: Useful Economics for the World Economy

TEMIN, Peter

Mit Pr

The MIT Press

Comprising Wage-Fixing (first published 1982), and Demand Management (first published 1983) this two volume reissued set is a vital and stimulating analysis of the causes and consequences of stagflation – a paralysing combination of mass unemployment and rapid inflation which affected a variety of economies across the developed world in the 1970s and early 1980s. Wage-Fixing, written by James Meade, deals primarily with the needed reform of wage-fixing institutions, contrasting the Great Depression of the 1930s with the Great Stagflation of the 1970s. Meanwhile Demand Management is devoted to the design of fiscal, monetary and foreign exchange-rate policies for the control of the money demand for the products of labour. This volume deals with the theory of demand management, feedback control and the creation of a dynamic model of the UK economy. Written in clear and accessible language, this reissue will appeal to the general reader as well as students of economics and professional economists. It should be required reading for all those who wish to learn the lessons of the Great Stagflation of the 1970s to avoid a repetition in the current economic climate.

Stagflation (2 Volumes) (Routledge Revivals) (Routledge Revivals: Stagflation)

Meade, James E.

Maciejowski, Jan

Routledge

A new way to understand financial crises―and a blueprint for tomorrow's recovery
The Leaderless Economy reveals why international financial cooperation is the only solution to today's global economic crisis. In this timely and important book, Peter Temin and David Vines argue that our current predicament is a catastrophe rivaled only by the Great Depression. Taking an in-depth look at the history of both, they explain what went wrong and why, and demonstrate why international leadership is needed to restore prosperity and prevent future crises.
Temin and Vines argue that the financial collapse of the 1930s was an "end-of-regime crisis" in which the economic leader of the nineteenth century, Great Britain, found itself unable to stem international panic as countries abandoned the gold standard. They trace how John Maynard Keynes struggled for years to identify the causes of the Great Depression, and draw valuable lessons from his intellectual journey. Today we are in the midst of a similar crisis, one in which the regime that led the world economy in the twentieth century―that of the United States―is ending. Temin and Vines show how America emerged from World War II as an economic and military powerhouse, but how deregulation and a lax attitude toward international monetary flows left the nation incapable of reining in an overleveraged financial sector and powerless to contain the 2008 financial panic. Fixed exchange rates in Europe and Asia have exacerbated the problem.
 The Leaderless Economy provides a blueprint for how renewed international leadership can bring today's industrial nations back into financial balance--domestically and between each other.

The Leaderless Economy: Why the World Economic System Fell Apart and How to Fix It

Princeton University Press

Macroeconomic Policy: Inflation, Wealth and the Exchange Rate (Routledge Library Editions: Macroeconomics)

This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market.  Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.   

Blake, Andrew

Meade, James

Christodoulakis, Nicos

Weale, Martin

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