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Macroeconomic Policy and Economic Growth

In: Economic Growth and Resources

Author

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  • J. O. N. Perkins

    (University of Melbourne)

Abstract

The purpose of this paper is to raise certain issues of macroeconomic policy, that have an important bearing upon the rate of world economic growth. It has become clear over the last few years that one of the principal obstacles to achieving a high rate of world economic growth has been the twin problem of ‘inflation with unemployment’ or ‘stagflation’; and, in particular, the evident willingness of many governments to tolerate, or actually to aim at, a lower level of real activity than could otherwise be achieved, in the belief that this is the best, or the only, way of reducing the rate of inflation.

Suggested Citation

  • J. O. N. Perkins, 1979. "Macroeconomic Policy and Economic Growth," International Economic Association Series, in: Irma Adelman (ed.), Economic Growth and Resources, chapter 3, pages 23-33, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-16229-1_3
    DOI: 10.1007/978-1-349-16229-1_3
    as

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