These companion volumes examine the highly topical issue of the adequacy of markets as an instrument of economic and social development. In this era of transition and experimentation in economic management by governments, a group of prominent international economists was brought together to distill their thinking on the changing role of government in the development process. The first volume discusses the broad questions; the second volume breaks down the analysis into more detailed topics.

A d104book on Macroeconomic Knowledge and Analysis

Rather than describing the various schools of economics or its history, this book aims to present current macroeconomic knowledge, with a few contributions from famous works and authors when absolutely necessary. It is aimed at those with some existing knowledge of the subject.

Rather than describing the various schools of economics or its history, this book aims to present current macroeconomic knowledge, with a few contributions from famous works and authors when absolutely necessary. It is aimed at those with some existing knowledge of the subject.

This book deals with microeconomic theory as it concerns general economic equilibrium and the implications for prices and resource allocation.

Students with a background in mathematics will find in this volume a broad, comprehensible overview of the ideas which have contributed to our understanding of general equilibrium.

Discussions of economic policy argue that an adequate level of profitability is a precondition for avoiding future unemployment. This book studies the rationale for this statement. The analysis is built round a simple model of the Harrod Doman type and extends the study of fixed-price equilibria by considering a dynamic process whose major components are capital accumulation and shifts in income distribution. The Keynesian depression, characterized by a sustained lack of demand, is found to be particularly stable. Lack of productive capacity may also occur when profitability has been too low....

An economic policy always relies on diagnosis about spontaneous trends and about the likely impact of alternative government decisions. Unemployment was the main problem faced by policy makers during the past two decades. During that period the author devoted most of his time either to observation and diagnosis or to the analysis of macroeconomic factors of unemployment. This book presents what was learned from this experience, particularly on diagnosing unemployment trends and assessing the effects of real wages on investment and employment.