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The Hybrid System of Redistributive Economics

  • Donald R. Stabile
Chapter

Abstract

This chapter provides an overview of the book’s general theme that the period following World War II was not an Age of Keynes in macroeconomic policy and that the Employment Act of 1946 was more complicated than previously thought. The chapter also introduces and explains two concepts that display the complex goals of the Act, the political economy of a living wage and the hybrid system of redistributive economics. The first concept describes an effort to use government regulation and taxation to secure a living wage for workers as a method to increase aggregate consumption. The second concept combines the political economy of a living wage with fiscal policy to further augment aggregate consumption through higher wages due to increased aggregate demand.

Keywords

Employment Act Keynesian economics Living wage Distribution of Income Fiscal policy 

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Donald R. Stabile
    • 1
  1. 1.Department of EconomicsSt. Mary’s College of MarylandSt. Mary’s CityUSA

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