The paper uses a Solow-Ramsey growth model to evaluate the effectiveness of growth as a remedy for unemployment in the face of a wage minimum. Plausible calibration of the model suggests that the elimination of 5 percent unemployment by the process of capital accumulation may take about twenty...

The history of the Australian Notes Issue Board over the period 1920-24 is presented. It is shown that the Board was created as a genuinely independent monetary authority, but was soon abolished, as its policies antagonised interests upon which the government depended. The episode illustrates...