Uncertainty, Macroeconomic Stability and the Welfare State
In: Routledge Revivals Ser
Cover -- Half Title -- Dedication -- Title Page -- Copyright Page -- Table of Contents -- Preface -- Introduction -- The space and time of this book -- A methodological note -- 1 Uncertainty and Prices -- 1.1 Uncertainty and uncertainty management -- 1.1.1 Time and organic interdependency -- 1.1.2 Mutual exclusion of theoretical foundations -- 1.1.3 The paradox of Keynesian uncertainty -- 1.1.4 Decision guidelines under uncertainty -- 1.1.5 The probability theorem -- 1.1.6 The contextual economic agent -- 1.1.7 Context and normative perspectives -- 1.2 Preference for sticky prices - empirical evidence -- 1.2.1 Confidence and the normative value of predictability -- 1.2.2 Producers' motives for price rigidity -- 1.2.3 Positive effects of sticky prices - examples of further evidence -- 1.2.4 Consumer motives for price rigidity -- 1.3 Uncertainty and its materialization -- 1.3.1 Production costs and Post Keynesian pricing -- 1.3.2 Uncertainty and the preference for sticky prices -- 1.3.3 Confidence and time utility -- 1.3.4 A confidence multiplier -- 2 Demand, Supply and Stability -- 2.1 Macroeconomic stability -- 2.1.1 A comment on the supply side -- 2.1.2 Some macroeconomic premises -- 2.1.3 Tax neutrality -- 2.1.4 Macroeconomic instability - the case of tax increment -- 2.1.5 Macroeconomic instability - the tax cut case -- 2.2 Elaborations in search of stabilizing mechanisms -- 2.2.1 The stock market - a definition -- 2.2.2 The stock market and macroeconomic stability -- 2.2.3 Saving and macroeconomic stability -- 3 Collective Stability -- 3.1 Moral rights and collective intervention -- 3.2 Balancing budgets or rights -- 3.2.1 The right to have vs. the right not to give -- 3.2.2 Purpose and ambition of collective intervention -- 3.2.3 Financing collective intervention -- 3.2.4 Effects of fiscal prudence -- 3.2.5 Charity-based welfare society