Commitment To Full Employment

The 15 papers collected in this book encompass important macroeconomic theories and policies espoused by 1996 Nobel laureate economist William 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 on 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.

The 15 papers collected in this book encompass important macroeconomic theories and policies espoused by 1996 Nobel laureate economist William 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 on 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.

Considers legislation to establish a national policy and program for assuring continuing full employment in a free competitive economy, through the concerted efforts of industry, agriculture, labor, state and local governments, and the Federal Government.

After more than twenty years of mass unemployment in Britain and throughout much of Europe can the aspiration of "jobs for all" once again become a reality? Working for Full Employment considers the feasibility of full employment in a modern market economy. The book is written by a group of experts who were pivotal in pushing full employment up the political agenda in the mid 1990's. They identify the hard choices which policy makers must face and discuss why full employment has been so elusive for the past twenty years. The authors examine: * The effects of new technology and increased trade * The increased participation of women in the labour market * The impact of labour market regulation on employment * Worksharing * How welfare reform can help the long term unemployed into jobs * The role of industrial policy * Reform of pay bargaining Well informed and accessible, this book is a valuable contribution to the developing debate on labour market policy.

'Inclusive Growth, Full Employment, and Structural Change: Implications and Policies for Developing Asia' discusses policies to achieve inclusive growth in developing Asia, including agriculture, investment, certain state interventions, monetary, fiscal, and the role of the state as employer of last resort. Felipe argues that full employment of the labor force is the key to delivering inclusive growth. Full employment is the most direct way to improve the well-being of the people, especially of the most disadvantaged. Since unemployment and underemployment are pervasive in many parts of the region, Asian leaders must commit to the goal of full employment. The book also analyzes the region's phenomenal growth in recent decades in terms of structural transformation. Accelerating it is vital for the continued growth of developing Asia. But efforts to achieve full employment might be held back given that structural transformation requires massive labor shifts across sectors, and these are difficult to coordinate. Moreover, the goal of full employment was abandoned in the 1970s, and governments and central banks have since concentrated on keeping inflation low.