ENGLISH

Macroeconomic Policy and a Living Wage: The Employment Act as Redistributive Economics, 1944–1969

By Donald R. Stabile

Book information

Publisher
Springer International Publishing,Palgrave Macmillan
Year
2018
ISBN
978-3-030-01997-6, 978-3-030-01998-3
Language
english
Format
PDF
Filesize
3 MB (2973817 bytes)
Edition
1st ed.
Pages
XVII, 290\303
Time added
2019-01-12 07:35:16
Economics; Economic History; Macroeconomics/Moneta

Description

This book offers a new interpretation of the Employment Act of 1946. It argues that in addition to Keynesian economics, the idea of a living wage was also part of the background leading up to the Employment Act. The Act mandated that the president prepare an Economic Report on the state of the economy and how to improve it, and the idea of a living wage was an essential issue in those Economic Reports for over two decades. The author argues that macroeconomic policy in the USA consisted of a dual approach of using a living wage to increase consumption with higher wages, and fiscal policy to create jobs and higher levels of consumption, therefore forming a hybrid system of redistributive economics. An important read for scholars of economic history, this book explores Roosevelt’s role in the debates over the Employment Act in the 1940s, and underlines how Truman’s Fair Deal, Kennedy’s New Frontier and Johnson’s Great Society all had the ultimate goal of a living wage, despite their variations of its definition and name. Front Matter ....Pages i-xvii The Hybrid System of Redistributive Economics (Donald R. Stabile)....Pages 1-26 Background of the Employment Act I: A Living Wage (Donald R. Stabile)....Pages 27-65 Background of the Employment Act II: Keynesian Economics (Donald R. Stabile)....Pages 67-104 Background of the Employment Act III: An Economic Bill of Rights (Donald R. Stabile)....Pages 105-134 The Political Economy of the Employment Act of 1946 (Donald R. Stabile)....Pages 135-168 Kennedy’s New Frontier: Tax Cuts and Wage Policy (Donald R. Stabile)....Pages 169-207 The Age of Keynes in the Great Society (Donald R. Stabile)....Pages 209-245 The Decline and Revival of a Living Wage (Donald R. Stabile)....Pages 247-284 Back Matter ....Pages 285-290

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