Overview
- Offers a new interpretation of the Employment Act of 1946
- Takes an in-depth look at the development of economic policies from the New Deal through to the Great Society
- Uses a laboristic approach to examine the political economy of a living wage and Keynesian economics
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Table of contents (8 chapters)
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Front Matter
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Back Matter
Keywords
About this book
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.
Authors and Affiliations
About the author
Donald R. Stabile is Professor of Economics at St. Mary's College of Maryland, USA, where he has taught for nearly 40 years. He is the author or co-author of 12 previous books, including The Political Economy of a Living Wage (2016), and scholarly articles on the history of political economy.
Bibliographic Information
Book Title: Macroeconomic Policy and a Living Wage
Book Subtitle: The Employment Act as Redistributive Economics, 1944–1969
Authors: Donald R. Stabile
DOI: https://doi.org/10.1007/978-3-030-01998-3
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG, part of Springer Nature 2018
Hardcover ISBN: 978-3-030-01997-6Published: 12 November 2018
Softcover ISBN: 978-3-030-13204-0Published: 10 December 2019
eBook ISBN: 978-3-030-01998-3Published: 29 October 2018
Edition Number: 1
Number of Pages: XVII, 290
Topics: Economic History, Macroeconomics/Monetary Economics//Financial Economics, Economic Policy, Labor Economics, History of Economic Thought/Methodology