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This important book goes beyond generalizations and takes a hard-headed look at the real strengths and weaknesses of Keynesian demand management and supply side economics.Keynesianism has failed to reconcile high levels of competitiveness with full employment. This was confirmed in the 1980s by the performance of the UK, the US and West Germany. Sweeping de-regulation has not proved to be an adequate solution.The book shows how effective supply conditions could supplement Keynesian demand management to achieve sustainable levels of high employment. The measures advocated include a system of industrial relations which allows high wages and job security in return for acceptance of a high pace of technological and organizational change; the promotion of skill development as well as intra-firm training programmes; the formation and encouragement of co-operation between different regions. It is argued that the supportive institutions, coupled with effective demand policies would succeed in marrying high employment with internationally competitive production.
Edited by the late Egon Matzner, Formerly Professor of Public Economics, University of Technology and Head of the Research Unit for Socio-Economics, Austrian Academy of Sciences, Vienna and Wolfgang Streeck, Professor of Sociology and Director, Max Planck Institute for the Study of Societies, Cologne, Germany
On effective supply conditions; on effective labour market and social policy; on effective demand conditions; towards a context enhancing full employment.
'This is an important collection of papers, wide-ranging but coherently grouped around the theme of full-employment policy. As we begin to experience the limits of deregulation and privatization there is a growing interest in the possibility of a new agenda. This book makes an invaluable contribution to that discussion.'
Wolfgang Streeck, Kathleen Thelen, Wolfgang (Professor of Sociology and Director at the Max Planck Institute for the Study of Societies in Cologne) Streeck, Northwestern University) Thelen, Kathleen (Professor of Political Science, Kathleen Ann Thelen