Innovation, Unemployment, and Policy in the Theories of Growth and Distribution

Innovation, Unemployment and Policy in the Theories of Growth and Distribution increases our understanding about the more relevant economic determinants and policy aspects of the interdependence between economic growth and income distribution.

This book integrates the analytical methods and the research themes of the New Growth Theory into the cultural tradition of the Classical and post-Keynesian economists. The contributors examine technological innovations, the diffusion of knowledge, the imperfections and institutional characteristics of the labour market, the evolution of consumption patterns and of educational models and social conflicts as they relate to public spending and taxation policies. It provides a new insight into the processes of the growth of modern economies which highlights the interdependence between distribution and growth. The book shows that political and social stability, security of property rights, efficiency of the capital market, research, education, investment in physical and human capital, public spending and taxation policies are all necessary for the success and stability of a country's development process.

This book will appeal to upper level students, scholars and researchers of economics and economic growth as well as those more specifically involved in labour, microeconomics and the history of economic thought.