In recent years, the controversial objectives of full employment and a just distribution of incomes have been downgraded in favor of price stability and balance of payments. Mainstream economic theory continues to rely on the ability of market forces to achieve satisfactory regulation of employment and income distribution. In this new volume of essays, Kurt W. Rothschild--one of the most distinguished post-Keynesian economists in the world--offers a thorough critique of this approach. The collection, much of which appears in English for the first time, links pure theory with relevant practical investigations.

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