Virtually all of contemporary macroeconomics is underpinned by a Phillips curve of one variety or another; yet most of this literature displays a curious neglect of the theoretical dynamic stabilisation perspective provided by A. W. H. Phillips. This 2000 volume collected for the first time the major work of one of the great economists, integrating Phillips's empirical work with his theoretical contribution. In addition to twelve substantive chapters, twenty-nine economists including Lawrence Klein, James Meade, Thomas Sargent, Peter Phillips, David Hendry, William Baumol, Richard Lipsey and Geoffrey Harcourt highlight and interpret Phillips's ongoing influence. This volume also contains six of Phillips's previously unpublished essays, four of which were thought to have been lost. The fifth such essay (Phillips's second empirical Phillips curve) was previously an informal working paper of which few copies circulated, and the sixth essay is a forerunner of the Lucas Critique written by Phillips shortly before his death.
This book by William Mitchell and Joan Muysken is both important and timely. It deals with the issue of the abandonment of full employment as an objective of economic policy in the OECD countries. It argues persuasively that macroeconomic policy has been restrictive over the recent, and not so recent past, and has produced substantial open and disguised unemployment. But the authors show how a job guarantee policy can enable workers, who would otherwise be unemployed, to earn a wage and not depend on welfare support. If such a policy is fully supported by appropriate fiscal and monetary programmes, it can create full employment with price stability, which the authors label as a Non-Accelerating-Inflation-Buffer Employment Ratio (NAIBER). This book is essential reading for any one wishing to understand how we can return to full employment as the normal state of affairs. Philip Arestis, University of Cambridge, UK This book dismantles the arguments used by policy makers to justify the abandonment of full employment as a valid goal of national governments. Bill Mitchell and Joan Muysken trace the theoretical analysis of the nature and causes of unemployment over the last 150 years and argue that the shift from involuntary to natural rate conceptions of unemployment since the 1960s has driven an ideological backlash against Keynesian policy interventions. The authors contend that neo-liberal governments now consider unemployment to be an individual problem rather than a reflection of systemic policy failure and that they are content to use unemployment as a policy instrument to control inflation and coerce the unemployed with work tests and compliance programmes rather than provide sufficient employment. They present a comprehensive theoretical and empirical critique of this policy approach, with a refreshing new framework for understanding modern monetary economies. The authors show that the reinstatement of full employment with price stability is a viable policy goal that can be achieved by activist fiscal policy through the introduction of a Job Guarantee. Full Employment Abandoned will appeal to graduate and postgraduate students and researchers of economics and politics with an interest in macroeconomic policy and the labour market, particularly unemployment and neo-liberal policy frameworks.
SURVIVAL OF A TEXAN Before the days of McDonalds, Best Western and affordable telephones, two sets of Grandparents, not knowing of the other’s plans, set out on a 75 mile trip by horse and buggy, to await the arrival of an expected Grandchild. It was a three day journey. They slept under the buggies at night on quilts placed on top of tarpaulins. The father of the expected baby was caught in a fierce “Blue Norther” while trying to get a doctor. Despite the dilemma, a baby Boy was born. He was an adventurous little boy intent on working for money at an early age. His Dad was generally a loving father but became abusive when he was drinking hard liquor. Billy Boy took on the responsibility of the support of the family at an early age. He bought his first house at the age of twelve and remodeled it with a little help. At the age of 18 {actually 17} he went off to war where he was critically wounded twice on the same day and was given the Last Rites. A bullet entered below his right ear exploded in his mouth and a part of his right check was blown away. He was in a fierce battle in the retaking of Manila. A freighter, which was converted to a hospital ship, was transporting Bill and others from Leyte to Hollandia, New Guinea. It was torpedoed by a Japanese submarine and the crippled ship moved on slowly toward Hollandia, NG. The submarine was obliterated by a US Navy escort. Bill was “Born Again” in a foxhole. His faith in Jesus has carried him through the rough times and personal tragedies. You must read this fascinating book of Bill’s unusual and eventful life.
This gripping account of William Gregory Smith aka Cyril Johnson is indicative of twenty-five years of deception, abuse of power and character assassination by the Working People Alliance (WPA). This brutally honest book exposes the WPA in the web of Lies and Betrayal. My brother, William Gregory Smith, did not seek out Dr. Walter Rodney and the WPA. They sought him for his brilliance in the field of electronics. The resulting alliance led to the loss of a brilliant mind and son of Guyana. It will become quite clear after reading this account, that once can safely conclude that history, as we know it, is not always accurate.
øThis important textbook offers a comprehensive look into the two main traditions in contemporary macroeconomics _ New Classical and Keynesian _ and examines the work of economists who have drawn on principles from both traditions to form a new, integr
How are the demands of morality related to the needs, interests, and projects of people? Are they a burden, or are they good for us? Are they nothing but arbitrary impositions, or should we expect them to be justified? And will the answers to these questions tell us why and whether we should be moral? In this short, accessible text, William Nelson poses these questions in a form appropriate for beginning students and treats them in a way that both they and their teachers will appreciate. In the company of major figures from the history of ethics, Nelson explores the key issues surrounding topics like egoism, altruism, the good life, and the requirements of morality. A special strength of his presentation is the way he demonstrates how the views of these historical figures prefigure the theories espoused by different schools of contemporary thought. Students get not only the historical positions in terms of which contemporary debates are framed but also up-to-date discussions of utilitarianism, contractualism, problems of collective action, and the relations between virtue and duty-based theories. Nelson’s own view that morality is not a single subject matter enables him to show how each of the historical traditions has a role to play in a coherent and defensible pluralistic account of morality. At the core of this pluralism is a commitment to the democratic view that morality must not merely serve practical human purposes, but it must also be justified to the people it governs. Imaginative and insightful, intelligent and informed, this is an excellent first text for students of ethics and the history of ethics.
The concept of rational expectations has played a hugely important role in economics over the years. Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the
Principles of Econometrics, Fifth Edition, is an introductory book for undergraduate students in economics and finance, as well as first-year graduate students in a variety of fields that include economics, finance, accounting, marketing, public policy, sociology, law, and political science. Students will gain a working knowledge of basic econometrics so they can apply modeling, estimation, inference, and forecasting techniques when working with real-world economic problems. Readers will also gain an understanding of econometrics that allows them to critically evaluate the results of others’ economic research and modeling, and that will serve as a foundation for further study of the field. This new edition of the highly-regarded econometrics text includes major revisions that both reorganize the content and present students with plentiful opportunities to practice what they have read in the form of chapter-end exercises.
Ethics, the first volume of McClendon's Systematic Theology, explored the shape of life in the Christian community. Doctrine, the second volume, investigated the teaching necessary to sustain that life. Witness, the third and final volume of the work, considers the wider context in which that life takes place. It asserts that the church's identity is established not only by how it lives and what it teaches but also by how it enters into conversation and connects with systems of thought and social structures outside itself. McClendon continues here his exploration of "the baptist vision," a tradition of the church's understanding of itself, its relation to Scripture, and its place in the larger society, which flows from the Radical Reformation of the 16th century. He employs that vision to engage in conversation with three principal partners: other theologies; current philosophy; and culture, including science and letters, the fine and performing arts, and politics--in short, what Scripture calls "the world.
This groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated. The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics and valuable historical context, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of use.
Employing macroeconomic performance as a lens to evaluate democratic institutions, the author uses models of political behavior that allow for opportunism on the part of public officials and shortsightedness on the part of voters to see if democratic institutions lead to inferior macroeconomic performance. We have learned more about how and why democracy can work well or badly in the years since the first edition was published. It was not previously apparent how much the good performance of democracy in the United States was contingent on informal rules and institutions of restraint that are not part of the definition of democracy. Since that first edition, the United States has experienced soaring indebtedness, unintended adverse consequences of housing policy, and massive problems in the financial system. Each of these was permitted or encouraged by the incentives of electoral politics and by limitations on government, the two essential features of democratic institutions.
This volume of seventeen previously published essays by William J. Baumol brings together work on the theory of contestable markets, welfare theory, antitrust, pricing, and the history of economic thought. Written between 1971 and 1983, they have sparked productive extensions and criticism in microeconomic theory and provide an engaging intellectual history of one of the leading figures in the field of economics. Baumol introduces each of the book's four parts, presenting his subsequent views on the subjects covered in the reprinted articles, including some important amendments.The book opens with an autobiographical essay that presents the intellectual climate of economics in the 1940s in which Kenneth Arrow, Frank Hahn, Martin Shubik, Otto Eckstein, and Gary Becker were beginning their careers. Baumol's introductory essays to the book's major sections take up the threads from this autobiographical piece and follow them to the development of concepts central to economic theory, applications, and methodology.Three essays in the first part provide an underpinning for the theory of contestable markets. In the second part five essays explore issues in welfare economics such as the role of diminishing and increasing returns may play the role of symmetric obstacles to Pareto optimality. Essays in the third part range from regulation and antitrust to urban economics to the Phillips curve and the pitfalls of using, in the analysis of real issues, dual values derived from linear models when the underlying reality is nonlinear. Those in the concluding part focus on the history of economic ideas such as the Smithian versus Marxian view of business morality and the social interest, the Marxian concept of value transformation, the iron law of wages, and Say's law.William J. Baumol is Professor of Economics by joint appointment at Princeton University and New York University.
William Dean Howells, the realist master known as "The Dean of American Letters", produced an enormous oeuvre of works that had a lasting influence on American literature. For the first time in publishing history, this comprehensive eBook presents Howells’ complete works, with numerous illustrations, rare texts appearing in digital print for the first time, informative introductions and the usual Delphi bonus material. (Version 1) * Beautifully illustrated with images relating to Howells’ life and works * Concise introductions to the novels and other texts * ALL 41 novels, with individual contents tables * Many rare novels available in no other collection * Images of how the books were first published, giving your eReader a taste of the original texts * Excellent formatting of the texts * Special chronological and alphabetical contents tables for the poetry and the short stories * Easily locate the poems or short stories you want to read * Includes Howells’ complete travel writing, with many rare texts appearing here for the first time in digital print * Many rare essays and non-fiction works * Features two autobiographies - discover Howells’ literary life * Scholarly ordering of texts into chronological order and literary genres Please visit www.delphiclassics.com to browse through our range of exciting titles CONTENTS: The Novels THEIR WEDDING JOURNEY A CHANCE ACQUAINTANCE A FOREGONE CONCLUSION THE LADY OF THE AROOSTOOK THE UNDISCOVERED COUNTRY A FEARFUL RESPONSIBILITY DR. BREEN’S PRACTICE A MODERN INSTANCE A WOMAN’S REASON THE RISE OF SILAS LAPHAM INDIAN SUMMER THE MINISTER’S CHARGE ANNIE KILBURN APRIL HOPES A HAZARD OF NEW FORTUNES THE SHADOW OF A DREAM A BOY’S TOWN THE QUALITY OF MERCY AN IMPERATIVE DUTY THE WORLD OF CHANCE THE COAST OF BOHEMIA A TRAVELER FROM ALTRURIA THE DAY OF THEIR WEDDING THE LANDLORD AT LION’S HEAD THE STORY OF A PLAY RAGGED LADY THEIR SILVER WEDDING ANNIVERSARY THE FLIGHT OF PONY BAKER THE KENTONS QUESTIONABLE SHAPES LETTERS HOME LETTERS OF AN ALTRURIAN TRAVELLER SON OF ROYAL LANGBRITH MISS BELLARD’S INSPIRATION BETWEEN THE DARK AND THE DAYLIGHT THROUGH THE EYE OF THE NEEDLE THE WHOLE FAMILY FENNEL AND RUE NEW LEAF MILLS: A CHRONICLE THE LEATHERWOOD GOD THE VACATION OF THE KELWYNS The Shorter Fiction SUBURBAN SKETCHES CHRISTMAS EVERY DAY EDITHA STORIES OF OHIO SEEN AND UNSEEN AT STRATFORD-UPON-AVON LITERATURE AND LIFE: SHORT STORIES AND ESSAYS THE DAUGHTER OF THE STORAGE AND OTHER THINGS IN PROSE AND VERSE A PAIR OF PATIENT LOVERS AND OTHER STORIES BOY LIFE STORIES AND READINGS SELECTED FROM THE WORKS OF WILLIAM DEAN HOWELLS MISCELLANEOUS STORIES The Short Stories LIST OF SHORT STORIES IN CHRONOLOGICAL ORDER LIST OF SHORT STORIES IN ALPHABETICAL ORDER The Farces THE PARLOR CAR OUT OF THE QUESTION A COUNTERFEIT PRESENTMENT THE SLEEPING CAR THE MOUSE-TRAP AND OTHER FARCES MISCELLANEOUS FARCES The Poetry Collections POEMS STOPS OF VARIOUS QUILLS The Poems LIST OF POEMS IN CHRONOLOGICAL ORDER LIST OF POEMS IN ALPHABETICAL ORDER The Travel Writing VENETIAN LIFE ITALIAN JOURNEYS THREE VILLAGES TUSCAN CITIES A LITTLE SWISS SOJOURN LONDON FILMS CERTAIN DELIGHTFUL ENGLISH TOWNS ROMAN HOLIDAYS AND OTHERS SEVEN ENGLISH CITIES FAMILIAR SPANISH TRAVELS The Non-Fiction LIFE OF ABRAHAM LINCOLN MODERN ITALIAN POETS IMPRESSIONS AND EXPERIENCES LITERARY FRIENDS AND ACQUAINTANCE LITERATURE AND LIFE MR. CHARLES W. CHESNUTT’S STORIES FRANK NORRIS A PSYCHOLOGICAL COUNTER-CURRENT IN RECENT FICTION IMAGINARY INTERVIEWS HEROINES OF FICTION ÉMILE ZOLA HENRY JAMES, JR. INTRODUCTIONS TO VARIOUS WORKS The Autobiographies MY YEAR IN A LOG CABIN YEARS OF MY YOUTH Please visit www.delphiclassics.com to browse through our range of exciting titles
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