ABSTRACT
The monetary theory of employment cannot only provide an explanation of unemployment, but can also point to the direction that remedial action can take to maintain reasonably full employment in an insensitive-price economy. The central focus of such a program must obviously be the maintenance of an adequate stock of money outstanding at all times. But how such a program should be carried out is a much more com plex matter, which has to take into account the complexities of our actual economy and the institutions that already exist. All that can be done here is to suggest the main steps that need be taken in developing a positive program for maintaining reasonably full employment.
