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New disorders require new polices, says economist Sidney Weintraub. In this book he draws together many of his shorter writings to deal with economic problems that have defied orthodox monetary and fiscal remedies.
Weintraub has long been noted for his vigorous criticism of both monetarist and Keynesian schools of thought for their failure to cope with disorders in our economy involving unemployment and inflation. Keynes, Keynesians, and Monetarists contains the original article on TIP, written in collaboration with Henry Wallich, outlining a tax-based incomes policy to combat inflation in an era of unemployment. This essay has been the focus of extended discussion in official quarters, among economics and in the public press.
Introduction: Perspectives on Money Wages
1. Keynes and the Monetarists
2. The Kenesian Light That Failed
3. Keynes and the Quantity Theory Elasticities
4. Keynes and the Theory of Derived Demand
5. The Full Employment Model: A Critique
6. Revision and Recantation in Hicksian Economics
7. Money Supplies and Price-Output Variation: the Friedman Puzzle
8. Money as Cause and Effect
9. A Theory of Monetary Policy Under Wage Inflation
10. The Price Level in the Open Economy
11. A Macro Theory of Pricing, Income Distribution, and Employment
12. Marginal Productivity and Macrodistribution Theory
13. Rising Demand Curves in Price Level Theory
14. Cost Inflation and the State of Economic Theory: A Comment
15. New Books on Keynes
16. A Tax-based Incomes Policy
Appendix
Index