First published in 1987. This fascinating study provides an
understanding of the failings of the post-war era of active
macroeconomic policy-making, and only by a better comprehension of
past failings can we hope to provide the successful policies for
the present and future. The book takes as its primary bench mark an
analysis of Keynes's conception of the wages problem at or near
full employment in The General Theory of Employment, Interest and
Money. It then depicts the developments in official thinking and
policy with regard to this problem as the confidence in Keynesian
principles waxed and waned over the period.
General
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