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Full Employment through Social Entrepreneurship: The Nonprofit Model for Implementing a Job Guarantee

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  • Pavlina R. Tcherneva

Abstract

The conventional approach of fiscal policy is to create jobs by boosting private investment and growth. This approach is backward, says Research Associate Pavlina R. Tcherneva. Policy must begin by fixing the unemployment situation because growth is a byproduct of strong employment-not the other way around. Tcherneva proposes a bottom-up approach based on community programs that can be implemented at all phases of the business cycle; that is, a grass-roots job-guarantee program run by the nonprofit sector (with participation by the social entrepreneurial sector) but financed by the government. A job-guarantee program would lead to full employment over the long run and address an outstanding fault of modern market economies.

Suggested Citation

  • Pavlina R. Tcherneva, 2012. "Full Employment through Social Entrepreneurship: The Nonprofit Model for Implementing a Job Guarantee," Economics Policy Note Archive 12-02, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:12-02
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    References listed on IDEAS

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    1. William F. Mitchell, 1998. "The Buffer Stock Employment Model and the NAIRU: The Path to Full Employment," Journal of Economic Issues, Taylor & Francis Journals, vol. 32(2), pages 547-555, June.
    2. Pavlina R. Tcherneva, 2012. "Inflationary and Distributional Effects of Alternative Fiscal Policies: An Augmented Minskyan-Kaleckian Model," Economics Working Paper Archive wp_706, Levy Economics Institute.
    3. Justin Weidner & John C. Williams, 2011. "What is the new normal unemployment rate?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue feb14.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Why Bernie Sanders Should Add a Job Guarantee to His Policy Agenda
      by Pavlina Tcherneva in New Economic Perspectives on 2015-08-18 00:12:13

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    Cited by:

    1. Pavlina R. Tcherneva, 2014. "The Social Enterprise Model for a Job Guarantee in the United States," Economics Policy Note Archive 14-1, Levy Economics Institute.
    2. David A. Zalewski, 2019. "Uncertainty and the Economy of Exclusion: Insights from Post‐Keynesian Institutionalism," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(4), pages 955-972, September.
    3. Flavia Dantas & L. Randall Wray, 2017. "Full Employment: Are We There Yet?," Economics Public Policy Brief Archive ppb_142, Levy Economics Institute.

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