Very Good in Very Good jacket. "This study explains why the OECD economies have been in a high unemployment equilibrium trap for the past 15 years. An institional-analytical framework is adopted to reveal how institutions interact with the economic and political demands of organized interest groups to determine both the difference in performances between countries and the general failure of the OECD economies to recover. Stagnation is traced in the first instance to an unwillingness of countries to employ stimulative Keynesian policies because of their adverse inflation and payments side effects. Underlying this are institutional changes, largely induced by the economic successes of the 1950s and 1960s, that have greatly reduced the ability of policy makers to use aggregate demand and exchange rate policies to stabilize the economy. Further instutional changes induced by governments are required for recovery. Given the radical nature of the required changes, continued long-run stagnation seems assured." (Publisher)
Fine in Fine dust jacket. No defects in book or jacket, the latter now protected by clear mylar sleeve. Bound in blue cloth with bright gilt titles to spine; binding is tight, pages are clean and unmarked. A beautiful copy. 8vo-8" to 9" tall. 256 pages. C6.
Alibris, the Alibris logo, and Alibris.com are registered trademarks of Alibris, Inc.
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited, Baker & Taylor, Inc., or by their respective licensors, or by the publishers, or by their respective licensors. For personal use only. All rights reserved. All rights in images of books or other publications are reserved by the original copyright holders.