IDEAS home Printed from https://ideas.repec.org/a/mes/ijpoec/v48y2019i1p41-59.html
   My bibliography  Save this article

On the Criticisms of and Obstacles to the Employer of Last Resort Policy Proposal

Author

Listed:
  • Enrico Sergio Levrero

Abstract

Rising inequality in income and wealth distribution and a huge waste of human resources (in the form of labor unemployment and underemployment) has once again led to a focus on Keynesian policies against poverty, including that of the State acting as an Employer of Last Resort advanced by Minsky. After briefly summarizing Minsky’s proposal and roughly calculating the financial resources needed to implement it in the case of Italy, the aim of this article is to discuss the obstacles that such a proposal may encounter and the possible measures to be adopted to overcome them. A conclusion will be drawn that a mix between Keynesian demand policies and the ELR system may be the best measure to guarantee full employment, provided that an institutional framework that is favorable to this objective is established.

Suggested Citation

  • Enrico Sergio Levrero, 2019. "On the Criticisms of and Obstacles to the Employer of Last Resort Policy Proposal," International Journal of Political Economy, Taylor & Francis Journals, vol. 48(1), pages 41-59, January.
    • Handle: RePEc:mes:ijpoec:v:48:y:2019:i:1:p:41-59
    DOI: 10.1080/08911916.2018.1564494
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/08911916.2018.1564494
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/08911916.2018.1564494?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Giuliano Toshiro Yajima, 2021. "The Employer of Last Resort Scheme and the Energy Transition: A Stock-Flow Consistent Analysis," Economics Working Paper Archive wp_995, Levy Economics Institute.
    2. Summa, Ricardo de Figueiredo, 2022. "Alternative uses of functional finance: Lerner, MMT and the Sraffiansh," IPE Working Papers 175/2021, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    3. Peter Kriesler & Joseph Halevi & Mark Setterfield, 2020. "Political Aspects of ‘Buffer Stock’ Employment: A Reconsideration," Working Papers 2009, New School for Social Research, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:ijpoec:v:48:y:2019:i:1:p:41-59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/MIJP20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.