In Economic Recovery for Canada, economists John Cornwall and Wendy Maclean argue that monetarists arrived at an incorrect explanation of inflation--and its cure--by adopting outdated assumptions from neoclassical economics.

Against the background of the economic recession of the early 1980s, the authors propose a four-part framework for recovery to rival the monetarist policy of deregulation and spending cuts: a tax-based incomes policy to control inflation; stimulation of the economy to achieve full employment; innovative investment in industry; and Japanese-style management reforms to enhance productivity.

Economic Recovery in Canada is an incisive contribution to the vital economic debates of a crucial period in Canadian history.