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The Importance of Economic Growth and Full Employment

In: The Rise and Fall of Global Austerity

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  • E Ray Canterbery

Abstract

What John Maynard Keynes wrote in 1936 rings with truth even today. The lack of full employment is well understood because its ills are so visible. Not so the problems of an arbitrary and inequitable distribution of wealth and incomes. These are measured less frequently and are for the most part invisible. The Forbes 400 are well-known and widely publicized but are thought to comprise the exceptional. True, they are exceptional, being the wealthiest of them all, a small slice of the top 1% of the wealth distribution, the tip of the top. We hear references to the top 1%, but that is all. Like the poor, it is presumed that they will always be with us…

Suggested Citation

  • E Ray Canterbery, 2015. "The Importance of Economic Growth and Full Employment," World Scientific Book Chapters, in: The Rise and Fall of Global Austerity, chapter 14, pages 231-269, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814603492_0014
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