Beyond Full Employment: What Argentina’s Plan Jefes Can Teach Us about the Employer of Last Resort

2013 ◽  
pp. 79-102 ◽  
Author(s):  
Pavlina R. Tcherneva
Keyword(s):  
Full Employment ◽  
Employer Of Last Resort

scholarly journals Full Employment, Unconditional Basic Income and the Keynesian Critique of Rentier Capitalism

2020 ◽  
Vol 15 (1) ◽  
Author(s):  
Alan Thomas
Keyword(s):  
Welfare State ◽  
Full Employment ◽  
The State ◽  
Political Resistance ◽  
Basic Income ◽  
Capitalist Class ◽  
Policy Proposal ◽  
Inflationary Pressure ◽  
Demand Pull ◽  
Employer Of Last Resort

AbstractThis paper compares and contrasts the basic income proposal with the alternative policy proposal of the state acting as employer of last resort. Two versions of the UBI proposal are distinguished: one is hard to differentiate from expanded welfare state provision. Van Parijs’s proposal is radical enough to qualify as major egalitarian revision to capitalism. However, while it removes from a capitalist class the power to determine the terms on which others labour, it leaves this class in place and able to exert other powers that distort the macro-economy. These include pecuniary emulation, demand pull inflation, and political resistance to full employment so that the rentier class does not have to contend with entrepreneurs *and* the working class over the distribution of the productive surplus. The state as employer of last resort proposal addresses these deeper issues while also claiming that inflationary pressure will undermine the UBI alternative.

scholarly journals FINANCIAL CONTROL AND THE EMPLOYER OF LAST RESORT

2019 ◽  
Vol 3 (2) ◽  
pp. 39-48
Author(s):  
JAN TOPOROWSKI
Keyword(s):  
Financial Stability ◽  
Full Employment ◽  
Labour Productivity ◽  
Financial Control ◽  
Employment Policy ◽  
Involuntary Unemployment ◽  
Employment Policies ◽  
Employer Of Last Resort ◽  
The Government ◽  
The Impact

This paper examines the policy that has been suggested to resolve involuntary unemployment by having the government employ any persons who register as unemployed. This policy is compared to the full employment proposal of Michał Kalecki. Kalecki’s proposals also contained a strategy for financing full employment. Like the Employer of Last Resort proposal, Kalecki’s strategy allows employment policies to be examined from financial control, rather than the usual approaches of examining the impact of employment policy on labour productivity, or inflation, although both come into the analysis. The paper, therefore, outlines the proposal for an employer of last resort, and the proposed financing of that policy. A second part looks at Kalecki’s proposals for full employment and its financing. A third part then considers the impact of the employer of last resort policy on financial stability.

scholarly journals Employer of Last Resort as a new ‘New Deal’: A few thoughts on Turkey

2021 ◽  
Author(s):  
Ilker Aslan
Keyword(s):  
Business Cycles ◽  
New Deal ◽  
Full Employment ◽  
Job Creation ◽  
Monetary Theory ◽  
Public Projects ◽  
Automatic Stabilizer ◽  
Employer Of Last Resort ◽  
Deficit Spending ◽  
Unemployment Problem

Modern Monetary Theory emerges as a plausible alternative to solve Turkey’s staggering unemployment problem. This proposed solution here is the introduction of job guarantee program, which produces a non-discretionary automatic stabilizer that fosters both price stability and full employment. As a monetary sovereign, Turkey has the capacity to use deficit spending to bring growth and provide full employment to the millions who are in involuntary unemployment. The goal here is to tame the business cycles without throwing millions into unemployment, which has social and economic ramifications. In the absence of job creation by the private sector, this can be achieved through the use of government, providing job guarantees and the state acting as an employer of last resort by creating public projects, which will be cyclically adjusted in order to achieve full employment. 

Sign in / Sign up

Export Citation Format

Share Document