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Books > Social sciences > Politics & government > Central government > Central government policies
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The Goals of Macroeconomic Policy (Paperback, New)
Loot Price: R1,948
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The Goals of Macroeconomic Policy (Paperback, New)
Expected to ship within 12 - 17 working days
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Since the time of Keynes macroeconomists have been concerned with
the effectiveness of stabilization policies in reaching full
employment. However no one has provided a convincing argument that
this goal is universally desirable. Thus the book's main thesis is
that Pareto optimality - the guiding principle of policy
evaluation, because some gain and nobody loses - does not apply to
macroeconomic policies and that full employment is essentially a
political aim. The book is divided into three parts. The first is
historical: it examines the limited literature on the optimality of
macroeconomic goals and the record of successive governments in
achieving the goals they have set. The second part presents a
theory of the labour market, and an evaluation of welfare changes
from rising or falling real wages. The concluding part looks at
public choice decisions, especially those related to spending and
taxation, from an individualistic perspective. Although originally
intended to show what sacrifices are necessary in collective
decisions, the aim is now to maximize your own benefit from
government spending and to avoid as much of the burden of taxation
as possible.
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