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2020-09-04 03:27:07
Phelps, Edmund S
Inflation Policy and Unemployment Theory: The Cost-Benefit Approach to Monetary Planning.
W. W. Norton & Company, Inc, New York, 1972. First edition of the Nobel Prize-winning economist's study in economic policy and theory. Octavo, original cloth. Signed by Edmund Phelps on the title page. Near fine in a very good price-clipped dust jacket. Jacket design by Tom Lincoln. A major advance toward understanding the forces that lead to inflation and unemployment, this study takes a cost-benefit approach to monetary planning. The Nobel Prize-winning economist views a reduction of inflation by monetary means as a social investment and argues that such an investment must be subjected to cost-benefit tests. By extending his analysis into question of efficiency and resource allocation, he integrates the modern microeconomic theory of unemployment theory with the theory of optimal inflation. [Attributes: First Edition; Signed Copy; Hard Cover; In Dust Jacket]
Bookseller: Raptis Rare Books, ABAA/ ILAB [Palm Beach, FL, U.S.A.]

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