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Is Full Employment Possible Under Globalization? (revised)
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Abstract:
To
honor the life work of Professor Sumner Rosen, this lecture examines approaches
to promoting full employment at decent jobs within our contemporary era of
globalization. The lecture briefly
summarizes the theories of unemployment of Marx, Friedman, Keynes and
Kalecki. It then addresses the meaning
of full employment within the alternative theories and under different
historical and country settings. It next
considers the issue of the inflation/unemployment trade-off, and the
Meidner-Rehn Swedish approach to inflation control under full employment. It concludes by presenting a sketch of
something approximating a full employment program for the contemporary |