The Full Employment and Balanced Growth Act (known informally as the Humphrey–Hawkins Full Employment Act) is an act of legislation by the United States government. Impetus and strategy Unemployment and inflation levels began to rise in the early 1970s, reviving fears of an economic recession. In the past, the country's economic policy had been defined by the Employment Act of 1946, which encouraged the federal government to pursue "maximum employment, production, and purchasing power" by cooperation with private enterprise. Some Representatives, dissatisfied with the vague wording of this act, sought to create an amendment that would strengthen and clarify the country's economic policy. The Act's sponsors embraced a form of Keynesian economics, advocating public intervention to increase economic demand and to secure full employment. Consistent with Keynesian theory, the Act provides for measures to create public jobs to reduce unemployment, as applied during the Great Depression. The Act also encouraged the government to develop a sound
El Full Employment and Balanced Growth Act (conocido informalmente como el Humphrey-Hawkins Full Employment Act) es un acto de legislación por el gobierno de los Estados Unidos. Impulso y estrategia Los niveles de desempleo e inflación comenzaron a subir a principios de la década de 1970, reavivando los temores de una recesión económica. En el pasado, la política económica del país había sido definida por la Ley de Empleo de 1946, que alentó al gobierno federal a perseguir el "máximo empleo, producción y poder adquisitivo" mediante la cooperación con las empresas privadas. Algunos representantes, insatisfechos con la vaga formulación de esta ley, buscaban crear una enmienda que reforzaría y aclararía la política económica del país. Los patrocinadores de la ley abrazaron una forma de economía keynesiana, abogando por la intervención pública para aumentar la demanda económica y asegurar el empleo completo.