IDEAS home Printed from https://ideas.repec.org/a/taf/revpoe/v12y2000i2p141-155.html
   My bibliography  Save this article

Is an Employer-of-Last-Resort Policy Sustainable? A review article

Author

Listed:
  • Tony Aspromourgos

Abstract

A radical proposal to address decisively the problem of mass involuntary unemployment, by way of a government committing itself to stand ready as 'employer of last resort', has recently been put forward by L. Randall Wray and others. To the question of how such large-scale policies would be financed, there has been a suggestion that issuing outside money would suffice. This review employs some simple modelling to show the limits to 'printing money' as a means of financing such an employment policy. The review also critically scrutinizes the claim that the policy can simultaneously act as an antiinflationary device, as well as some other aspects of the proposals.

Suggested Citation

  • Tony Aspromourgos, 2000. "Is an Employer-of-Last-Resort Policy Sustainable? A review article," Review of Political Economy, Taylor & Francis Journals, vol. 12(2), pages 141-155.
  • Handle: RePEc:taf:revpoe:v:12:y:2000:i:2:p:141-155
    DOI: 10.1080/095382500406477
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/095382500406477
    Download Restriction: Access to full text is restricted to subscribers.

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

    References listed on IDEAS

    as
    1. Stephanie Bell, 1998. "Can Taxes and Bonds Finance Government Spending?," Macroeconomics 9808008, EconWPA.
    2. Bruno Jossa & Marco Musella, 1998. "Inflation, Unemployment and Money," Books, Edward Elgar Publishing, number 1128.
    3. L. Randall Wray, 1997. "Government as Employer of Last Resort: Full Employment without Inflation," Economics Working Paper Archive wp_213, Levy Economics Institute.
    4. Garegnani, Pierangelo, 1984. "Piero Sraffa," Cambridge Journal of Economics, Oxford University Press, vol. 8(1), pages 1-2, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. L. Randall Wray, 2006. "Flexible Exchange Rates, Fed Behavior, and Demand Constrained Growth in the USA," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(3), pages 375-389.
    2. William F. Mitchell & Warren B. Mosler, 2001. "Fiscal Policy and the Job Guarantee," CEPR Discussion Papers 441, Centre for Economic Policy Research, Research School of Economics, Australian National University.
    3. Godin, Antoine, 2014. "Job Guarantee: a Structuralist Perspective," Revue de la RĂ©gulation - Capitalisme, institutions, pouvoirs, Association Recherche et RĂ©gulation, vol. 16.
    4. Constantine E. Passaris, 2011. "Economic Governance and Full Employment," Chapters,in: Does Economic Governance Matter?, chapter 8 Edward Elgar Publishing.
    5. Reynold F. Nesiba, 2013. "Do Institutionalists and post-Keynesians share a common approach to Modern Monetary Theory (MMT)?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 44-60.

    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:taf:revpoe:v:12:y:2000:i:2:p:141-155. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst). General contact details of provider: http://www.tandfonline.com/CRPE20 .

    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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.