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Growth, Inflation and Employment

In: Structural Change, Economic Interdependence and World Development

Author

Listed:
  • W. Krelle

    (Bonn University)

Abstract

This paper approaches the problems of growth, inflation and employment from the point of view of economic theory. First, the long-term aspects are considered: 1. Is it possible to continue the process of economic growth that we have experienced in the last thirty years such that the less developed countries can reach the standard of life of the industrialised ones? This problem has to be analysed considering the limitations of natural resources and the continued growth of the world’s population. 2. Since the world economy consists of different national economies which are connected by trade and capital flows, we have to ask whether the international trade and monetary system is appropriate to serve the needs of the world economy as a whole. In other words, does the system of international trade serve the needs of all nations or is it a system of exploitation, as Professor Bogomolov suggested at this conference? Second, the following short-term problems, which are more or less common to all nations, are taken up:

Suggested Citation

  • W. Krelle, 1987. "Growth, Inflation and Employment," International Economic Association Series, in: Luigi Pasinetti & Peter Lloyd (ed.), Structural Change, Economic Interdependence and World Development, chapter 19, pages 275-291, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-18840-6_19
    DOI: 10.1007/978-1-349-18840-6_19
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