Wood, MR Richard Bruce

The author is an Australian macroeconomist. He has published widely on wages policy, taxation of financial instruments, investment and finance and Pacific island macroeconomic issues. In 1974 the author proposed a wages and priced policy to address high inflation and high unemployment simultaneously. The orthodoxy at the time was that market forces (high unemployment) would solve these problems. market forces did not resolve the underlying problem and real wage costs and inflation surged again in 1982. The author's policy prescription was then accepted by government, and inflation and unemploy...