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John Grieve Smith traces the origins of postwar full employment policies in the experience of the interwar years and the work of Keynes and Beveridge. He reviews the successful achievement of full employment after the war and its subsequent abandonment as the Keynesian consensus gave way to the new, monetarist-inspired, orthodoxy. The book puts forward alternative proposals for expansionary policies, and for international financial reform. It is written throughout in terms accessible to both the layperson and the expert.
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'If [Mr Blair] doubts the connection between demand management and his beloved social agenda, [he] should read two highly accessible books published by distinguished neo-Keynesian economists in the past few months - Full Employment: A Pledge Betrayed by John Grieve Smith and How to Save the Underclass by Robin Marris. For anyone who wants to understand what really caused both the mass unemployment and the social dislocation of the 1980s, these two slim volumes are worthy of a library-full of books about stakeholding, communitarianism and the like.' - Anatole Kaletsky - Times