ABSTRACT

This chapter, like the preceding one, is concerned with a theoretical problem, in this case the problem of getting from an equilibrium at less than full employment to an equilibrium at full employment. This prob­ lem differs from that of maintaining full employment in three major respects:

1. Action to increase employment is not a simple offset to some otherwise depressing development in the economy, but aims to set up a new set of relationships that will support a higher level of employment, and therefore the action can be expected to involve more complex repercussions.