Uncertainty, International Money, Employment and Theory Volume 3: Th

The book contains Paul Davidson's major contributions to the economics and policy debates of our times. The relationship between uncertainty, economic theory, international financial markets and global unemployment is analysed throughout. Davidson suggest

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Also by Paul Davidson AGGREGATE SUPPLY AND DEMAND ANALYSIS (with E. Smolensky) CAN THE FREE MARKET PICK WINNERS? (editor) CONTROVERSIES IN POST KEYNESIAN ECONOMICS ECONOMIC PROBLEMS OF THE 1990s: Less Developed Countries, Europe and the United States (co-editor with J. A. Kregel) EMPLOYMENT, GROWTH AND FINANCE: Economic Reality and Economic Growth INTERNATIONAL MONEY AND THE REAL WORLD MACROECONOMIC PROBLEMS AND POLICIES OF INCOME DISTRIBUTION: Functional, Personal, International (co-editor with J. A. Kregel) MILTON FRIEDMAN'S MONETARY THEORY: A Debate with his Critics (with M. Friedman, J. Tobin, D. Patinkin, K. Brunner; A. Meltzer) MONEY AND THE REAL WORLD POST KEYNESIAN MACROECONOMIC THEORY: A Foundation for Successful Economic Policy in the Twenty-First Century THE DEMAND AND SUPPLY OF OUTDOOR RECREATION (with C. J. Cicchetti and J. J. Seneca) THEORIES OF AGGREGATE INCOME DISTRIBUTION THE STRUGGLE OVER THE KEYNESIAN HERITAGE

Paul DlIVIdson (May 1987) (photogrttph by Louise Davidson)

Uncertainty, International Money, Employment and Theory The Collected Writings of Paul Davidson Volume 3 Edited by Louise Davidson

First published in Great Britain 1999 by

MACMILLAN PRESS LTD

Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-1-349-14993-3 ISBN 978-1-349-14991-9 (eBook) DOI 10.1007/978-1-349-14991-9

First published in the United States of America 1999 by

ST. MARTIN'S PRESS, INC.,

Scholarly and Reference Division, 175 Fifth Avenue, New York, N.Y. 10010 ISBN 978-0-312-22191-1 Library of Congress Cataloging-in-Publication Data Davidson, Paul. Uncertainty, international money, employment and theory / Paul Davidson; edited by Louise Davidson. p. cm. - (The collected writings of Paul Davidson: v.3) Includes bibliographical references and index. Volume 3 ISBN 978-0-312-22191-1 I. Money. 2. Employment (Economic theory). 3. Keynesian economics. I. Davidson, Louise. II. Title. III. Series: Davidson, Paul. Essays. Selections: v. I. HB1l9.D37A25 vol I. [HG229] 330 s-dc20 [331] 90-45973 CIP

© Paul Davidson 1999 Softcover reprint of the hardcover 1st edition 1999 All rights reservcd. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP OLP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. This book is printed on paper suitable for recycling and made from fully managed and sustained forest s