Employment without Inflation

It can be said that unemployment always results from too many people chasing too few jobs, and inflation is always caused by too much money chasing too few jobs and services. Beyond such banal generalizations, Higgins maintains there is no single cause for either unemployment or inflation, and thus no single cure can be prescribed for either, let alone for both at once. He effectively describe the transformation of the cogent prewar business cycle, the transitional period of underemployment equilibrium and secular stagnation, and finally, the strange new world of today, filled with puzzling economic fluctuations. He feels that a fiscal policy needs to be adopted that can deal simultaneously with existing unemployment and inflation, and suggests that an optimal blend of monetary and fiscal policy that will produce the "minimum discomfort" is a good start. Employment Without Inflation will be of direct policy interest to economists, sociologist, and national planners.