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BL
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| Record Number
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859648
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| Main Entry
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Stabile, Donald
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| Title & Author
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Macroeconomic policy and a living wage : : the Employment Act as redistributive cconomics, 1944-1969 /\ Donald R. Stabile.
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| Publication Statement
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Cham :: Palgrave Macmillan,, [2018]
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, ©2018
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| Page. NO
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1 online resource (xvii, 290 pages)
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| ISBN
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3030019985
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: 9783030019983
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3030019977
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9783030019976
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Intro; Preface; Acknowledgments; Contents; Abbreviations; 1: The Hybrid System of Redistributive Economics; Macroeconomic Policy and a Living Wage; Paul H. Douglas and the Hybrid System of Redistributive Economics; Conclusion; References; 2: Background of the Employment Act I: A Living Wage; The Political Economy of a Living Wage; Collective Bargaining; Macroeconomic Policy; A Minimum Wage; Social Insurance; The New Deal: Reform and Recovery; Roosevelt and Keynes; Fiscal Policy Expands Under Roosevelt; Conclusion; References; 3: Background of the Employment Act II: Keynesian Economics
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5: The Political Economy of the Employment Act of 1946; The Postwar Economy, 1945-1950; Truman Takes Over; The Legislation of the Employment Act; Truman's First Economic Report; Hansen Criticizes the Economic Report; Truman's Second Economic Report; The First JEC Report; Truman Promises a Fair Deal; Truman's Subsequent Economic Reports; JEC Reports by Democrats; The New Republic Comments on the Economic Reports; The Union Response to the Economic Reports; Congress Raises the Minimum Wage; Truman, the Employment Act and Economic Justice; Conclusion; References
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6: Kennedy's New Frontier: Tax Cuts and Wage Policy; The 1950s, Eisenhower and a Conservative Approach to Keynesian Economics; Hansen Looks Backward and Forward; Kennedy and Economics; Kennedy's First Economic Report; Kennedy's Second Economic Report: The Case for Tax Cuts; Hansen Supports the Tax Cuts; Progressive Responses to Kennedy's Economic Policies; Conclusion; References; 7: The Age of Keynes in the Great Society; The Economy in the 1960s; The Tax Cuts; The Great Society; Signs of Inflation; A Tax Surcharge; The Hybrid System of Redistributive Economics
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Economists, Keynesians and the Great SocietyUnions and the Great Society; Conclusion; References; 8: The Decline and Revival of a Living Wage; The Economy of the 1970s; The Decline of Unions; Social Insurance Stays Firm, For Now; The Minimum Wage Falls; The Decline of Keynesian Economics; Economists Return to the Living Wage; The Revival of a Living Wage Movement; Conclusion; References; Index.
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Keynes and the Theory of Employment; Keynes and Wages; Keynes and Fiscal Policy; Slichter and the Adjustment to Instability; Clark Appraises Fiscal Policy; Keynes and World War II; Hansen Accepts Keynes; Samuelson Synthesizes Keynes; Keynesian Economics and Collective Bargaining; Conclusion; References; 4: Background of the Employment Act III: An Economic Bill of Rights; Roosevelt's Second Bill of Rights; Roosevelt Accepts Keynes: The Nation's Budget; The CIO Proposes a Guaranteed Wage; Keynesians Criticize the Guaranteed Annual Wage; Wallace Promises 60 Million Jobs; Conclusion; References
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| Abstract
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"Donald Stabile provides a fascinating history of the economic and political debates leading up to, and following, the Employment Act of 1946. Contrary to common understanding, Stabile argues that there were strong tensions between New Dealers and Keynesians, including around their vision of the purpose of minimum wages, and of unions and collective bargaining. This book is a must-read for economists, as well as policy-makers and activists, looking for new economic models which provide jobs and living wages."--Stephanie Luce, Professor and Department Chair, School for Labor and Urban Studies, Department of Sociology, The Graduate Center, CUNY, USA 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.--
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| Subject
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United States., Employment Act of 1946.
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| Subject
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Wages-- Government policy-- United States-- History.
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Economic history.
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Labour economics.
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LAW-- Administrative Law Regulatory Practice.
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Macroeconomics.
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Political economy.
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Wages-- Government policy.
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Employment Act of 1946 (United States)
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United States.
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| Dewey Classification
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344.7301
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| LC Classification
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KF3319
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