There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the...

Martin J. Bailey's significant contributions to the development of economic thought are represented in this important new collection of key articles published between 1954 and 1991. In particular, it emphasises his influence upon current theories of social choice, inflation and fiscal policy....