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Employment Policy

In: The Keynesian Revolution and its Critics

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  • Gordon A. Fletcher

    (The University of Liverpool)

Abstract

Frankel’s charge against Keynes, that he sought to use public deceit in monetary policy, by the deliberate use of money illusion in the labour market, carries with it very serious implications. Not only, it is claimed, will the discovery of the bluff lead to inflationary expectations being ‘built in’ to wage claims and other contracts expressed in money terms, but it will also progressively undermine the moral authority of the monetary order itself.1

Suggested Citation

  • Gordon A. Fletcher, 1987. "Employment Policy," Palgrave Macmillan Books, in: The Keynesian Revolution and its Critics, chapter 22, pages 270-281, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08736-5_22
    DOI: 10.1007/978-1-349-08736-5_22
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