Economic Growth and Full Employment
Jeff Madrick challenges the conventional wisdom that balanced budgets lead to economic growth. In Madrick's perspective, policies that increase wages and boost demand are not merely a matter of social justice, they also enhance growth. Tom Palley presents compelling evidence that full employment is a necessary condition for broadly shared prosperity. He demonstrates how in today's global economy, fiscal, monetary and exchange rate policy all need to be directed toward full employment.
Testimony on Humphrey-Hawkins Full Employment and Balanced Growth Act[PDF] given before the House Committee on Financial
Services, Washington, DC, July 17, 2007.
June 22 event: Includes presentations by Jeff Madrick and Thomas Palley. Read transcript [PDF]