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Macroeconomic Theory and Policy
The Selected Essays of Richard G. Lipsey Volume Two. Economists of the Twentieth Century Series
Macroeconomic Theory and Policy is the second collection of Richard G. Lipsey's essays and contains material that has previously remained unpublished or has not been widely available.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 a new autobiographical introduction to the intellectual development, personal achievements and the fields of interest of Richard G. Lipsey and is then 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.
Macroeconomic Theory and Policy is an essential reference companion to the work of Richard G. Lipsey, one of the most important economists of our generation.
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What Reviewers Are Saying
`Therefore, these four books published by Edward Elgar will be at the reference desks of all good economic libraries. In addition, the book on monopolistic competition and economic geography needs to enter all reading lists on the currently hottest topic in economics.' -- Miroslav N. Jovanovic, Economia Internazionale `. . . mention must be made of the autobiographical essay which appears an an introductory chapter in both volumes. This provides an engagingly open summary of the author's intellectual life and achievements together with many insights about how the essays that follow came to be written.' -- R.E. Bailey, The Economic Journal