Politics and the Business Cycle

17 December, 2002

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In a well-known article published in the Political Quarterly over fifty years ago the Polish economist Michal Kalecki put forward his highly controversial analysis of `Political Aspects of Full Employment'. In this paper Kalecki developed what might be referred to as a `Marxo-Keynesian' argument relating to the form of aggregate economic instability likely to be experienced in advanced capitalist democracies. Kalecki's conjecture was that unless capitalism could `develop new social and political institutions which will reflect the increased power of the working class', continuous full employment would not be an achievable objective of economic policy.

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Volume 97, Issue 3

Includes a collection on 'The Political Economy of Tourism', edited by Kira Gartzou-Katsouyanni. Contributions include a piece on climate change in tourism-intensive Alpine regions by Valentina Ausserladscheider; Fathimath Musthaq's comparison between restrictions on tourism in the Seychelles and the Maldives; and Lorenzo Mascioli's investigation into how public policy can be used to make local tourism more sustainable. In our opening commentary, Deborah Mabbett reflects that good policy making is often a tedious process. Other articles include Thomas Quinn, Nicholas Allen and John Bartle on Labour's "Red–Green electoral threat"; Eda Bektas, Korhan Mühürcüoğlu on the paradox of power in Turkey; and Nikhil Datta and Amrita Kulka on Labour's home-building plans. Book reviews include Stephen Coleman's assessment of Matthew Goodwin's latest book, 'Suicide of a Nation'.

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