This is the second collection of Professor Lipsey's essays and contains material that has previously remained unpublished or has not been widely available. The book considers the macroeconomic issues of unemployment, inflation and policies to combat inflation, the Keynesian macroeconomy and supply side economics. The book begins with an autobiographical introduction to the intellectual development, personal achievements and the fields of interest of Richard G. Lipsey and is divided into five parts. Part one considers the Phillips Curve, wage rates and profits. The second part discusses the various theories of the causes of inflation and explores issues such as the depreciation of money, monetarism and cost-push versus demand-pull inflation. Part three looks at anti-inflation policies, focusing on incomes policies, credit and monetary policy and wage-price controls among other issues. Keynesian macroeconomics is evaluated in the fourth section, as well as inflation and the national income model. The final part considers supply-side economics.
Publisher: Edward Elgar Publishing Ltd