April 1, 1977 Tax Review: Full Employment Budget: How Good a Guide to Public Policy? Alan Reynolds Alan Reynolds Print this page Subscribe Support our work Download Tax Review: Full Employment Budget: How Good a Guide to Public Policy? Volume XXXVIII No. 4 Executive SummaryCan chronic deficits cure secular stagnation? Basic to the notion of full employment budgeting is the assumption that fiscal policy can be used to reduce unemployment, says economist Alan Reynolds. But fiscal policy, the author points out, can only promote inflationary monetary policy or reduce investment and growth. Topics Center for Federal Tax Policy
