Bill Mitchell — Unemployment and Inflation – Part 14

I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text during 2013 (to be ready in draft form for second semester teaching). Comments are always welcome. Remember this is a textbook aimed at undergraduate students and so the writing will be different from my usual blog free-for-all. Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text. Further it will change once the two of us have edited it.

This is the continuation of the Chapter on unemployment and inflation – the series so far is: 

▪ Unemployment and inflation – Part 1
▪ Unemployment and inflation – Part 2
▪ Unemployment and inflation – Part 3
▪ Unemployment and inflation – Part 4
▪ Unemployment and inflation – Part 5
▪ Unemployment and Inflation – Part 6
▪ Unemployment and Inflation – Part 7
▪ Unemployment and Inflation – Part 8
▪ Unemployment and Inflation – Part 9
▪ Unemployment and Inflation – Part 10
▪ Unemployment and Inflation – Part 11
▪ Unemployment and Inflation – Part 12
▪ Unemployment and Inflation – Part 13

Note this Chapter may be split into several at the editorial stage. For now I am just treating it as a continuous and logical (sequential) flow. The sequence is a mix of history and evolution of related ideas.

Chapter 12 – Unemployment and Inflation

12.X Incomes Policies

Bill Mitchell – billy blog
Unemployment and Inflation – Part 14
Bill Mitchell