This important book goes beyond generalizations and takes a
hard-headed look at the real strengths and weaknesses of Keynesian
demand management and supply side economics.Keynesianism has failed
to reconcile high levels of competitiveness with full employment.
This was confirmed in the 1980s by the performance of the UK, the
US and West Germany. Sweeping de-regulation has not proved to be an
adequate solution. The book shows how effective supply conditions
could supplement Keynesian demand management to achieve sustainable
levels of high employment. The measures advocated include a system
of industrial relations which allows high wages and job security in
return for acceptance of a high pace of technological and
organizational change; the promotion of skill development as well
as intra-firm training programmes; the formation and encouragement
of co-operation between different regions. It is argued that the
supportive institutions, coupled with effective demand policies
would succeed in marrying high employment with internationally
competitive production.
General
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