“Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kalecki also argued that fundamental institutional changes, especially regarding wage-setting and other aspects of the employment relationship, would be essential if full employment was to be sustained.”

— Jim Stanford

Part 2, Chapter 8, Workers and Bosses, p. 104
Economics For Everyone (2008)

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Kalecki thus precisely predicted the economic and political U-turn that occurred with the advent of neoliberalism. Kale…" by Jim Stanford?

Jim Stanford 21

Canadian economist 1961

Related quotes

“Hitler also anticipated modern economic policy... by recognizing that a rapid approach to full employment was only possible if it was combined with wage and price controls. That a nation oppressed by economic fear would respond to Hitler as Americans did to F. D. R. is not surprising.”

John Kenneth Galbraith (1908–2006) American economist and diplomat

As quoted in Adolf Hitler: The Definitive Biography (1991), by John Toland, also quoted in "Repatriation — The Dark Side of World War II (1995) by Jacob G. Hornberger http://www.fff.org/freedom/0795a.asp

“We're now setting records for employment, unemployment. We're setting all sorts of records economically.”

Donald J. Trump (1946) 45th President of the United States of America

2020s, 2020, October

“What is the whole problem as it effects the working classes of this country? It is all contained in one word—employment. Cheap food, a higher standard of living, higher wages—all these things, important as they are, are contained in the word employment. If this policy will give you more employment, all the others would be added unto you. If you lose your employment, all the others put together will not compensate you for that loss.”

Joseph Chamberlain (1836–1914) British businessman, politician, and statesman

Speech in Liverpool (27 October 1903), quoted in The Times (28 October 1903), p. 6.
1900s

“It is essential condition to maintain mutual trust and confidence between the employer and the employee to obtain the goal of rapid economic development and social justice.”

V. V. Giri (1894–1980) Indian politician and 4th president of India

Pravin Durai in: Human Resource Management http://books.google.co.in/books?id=aan1hKH_ejUC&pg=PA387, Pearson Education India, p. 387
Explaining his theme of the tree of socialism with the root comprising human beings.

“Conditions have greatly changed in Great Britain since the end of the war owing to the existence of full employment. Negotiations about wages between the two sides of industry now take place in entirely different circumstances. There is no reserve of labour to compete for jobs. … If wages rise faster than productivity the increases in cost can usually be passed on in increased selling prices. There is thus in the economic system very much less check on the upward movement of money wages. …if wages at home rise unchecked, it is more likely in general that exports will gradually cease to be competitive and there will be balance of payments difficulties. These can be met, in the end, by devaluation. A succession of devaluations completely undermines confidence in any currency. … It is clear that a very difficult problem faces a country such as ours, which wishes to maintain full employment and yet to avoid the undoubted evils of rising prices and balance of payments difficulties abroad.”

Hugh Gaitskell (1906–1963) British politician

Memorandum, 'Wages and Prices and Full Employment' (1 December 1950), quoted in Correlli Barnett, The Lost Victory: British Dreams, British Realities: 1945–1950 (London: Pan, 1996), pp. 350–352
Chancellor of the Exchequer

“The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.”

Naomi Klein (1970) Canadian author and activist

The Shock Doctrine: The Rise of Disaster Capitalism (2007)

“Employment is Nature's physician, and is essential to human happiness.”

Galén (129–216) Roman physician, surgeon and philosopher

Latter day attributions
Source: Day's Collacon: an Encyclopaedia of Prose Quotations, (1884), p. 223.

“Though we have achieved considerable success in our policy of increasing production and maintaining full employment, this has been accompanied by constant pressure for higher wages resulting in higher prices. We have not yet found out how we can maintain full employment in combination with stable or decreasing costs and prices.”

Stafford Cripps (1889–1952) British politician

Memorandum, 'The Dollar Situation: Forthcoming Discussions with U.S.A. and Canada' (4 July 1949), quoted in Correlli Barnett, The Lost Victory: British Dreams, British Realities: 1945–1950 (London: Pan, 1996), p. 353
Chancellor of the Exchequer

“If we continue to use industrial resources for other purposes – defence, housing, etc. thus preventing the diversion of resources to export work, the [exchange] rate will continue to fall. ... the basic idea of internal stability of prices and employment, which had dominated economic policy for so long will not be maintainable. It will not be possible to maintain stable internal prices and wages; it will not be possible to avoid unemployment. There will be a continuous process of change and readjustment and much of this will be painful.”

Rab Butler (1902–1982) British politician

Chancellor of the Exchequer
Source: Memorandum, 'External Action' (21 February 1952) advocating Operation ROBOT, quoted in Correlli Barnett, The Verdict of Peace. Britain Between Her Yesterday and the Future (London: Pan, 2002), p. 162

“Because of the consensus on full employment, certain observations rarely break in to the public political dialogue. These include: … that even if full employment were possible, it might not be desirable in the new kind of society we are entering; and that even today, most of the useful work we do is not structured into paying "jobs."”

Mark Satin (1946) American political theorist, author, and newsletter publisher

Source: New Options for America (1991), Chapter 6, "Should We Protect Jobs – or Redefine Work?," p. 46.

Help us to complete the source, original and additional information

Jim Stanford 21

Related quotes

Related topics