Suchergebnisse

Intro -- Introduction -- Bibliography -- Contents -- Contributor Biographies -- List of Figures -- List of Tables -- Chapter 1: Goal-Oriented Taxation: A Brief Discussion of the Living-Space Tax -- Introduction -- Money and Taxes -- Ecological Imperatives -- Potential Tax Reforms -- Ecological Tax Reform -- Single Tax -- Square Foot Tax -- Conclusion -- Notes -- References -- Chapter 2: Public Policy for Working People -- Introduction -- New Keynesian Policy and the Need for an Alternative -- Classical Keynesian Political Economy -- Employer of Last Resort -- Modeling the Employer of Last Resort in a Surplus Producing Economy -- ELR in the Fairmodel as a Basis for Surplus Approach -- Simulations and Results -- Simulating a Budget-Neutral ELR Program -- Conclusion -- Notes -- Appendix: Modeling ELR in the US-Fairmodel -- References -- Chapter 3: The Job Guarantee: A Superior Buffer Stock Option for Government Price Stabilisation -- Introduction -- The Government Chooses the Unemployment Rate -- The Full Employment Fiscal Deficit -- Mass Unemployment Occurs Because the Fiscal Deficit Is Too Low -- Buffer Stocks and Storage -- Two Buffer Stock Options Available to Government -- The Choice of Inflation Anchors -- Unemployment Buffer Stocks and Price Stability -- The Job Guarantee Approach to Price Stability -- The Job Guarantee as an Automatic Stabiliser -- The Job Guarantee and Capacity Constraints -- The Job Guarantee Is Not Workfare -- The Job Guarantee Jobs Are Inclusive to the Most Disadvantaged -- The JG Would Be Green -- Employment Guarantees Versus Income Guarantees -- The Job Guarantee Turns the Phillips Curve on Its Head -- Conclusion -- References -- Chapter 4: The Employer of Last Resort for a `Capital-Poor´ Economy -- Unemployment and the ELR in Advanced Economies -- A Macroeconomic Model for the ELR -- An ELR for the DEUCEs.

Book review of Harvey, David (2018). Marx, Capital, and the Madness of Economic Reason, Oxford University Press.

The Employer of Last Resort (ELR) program is a New Deal type of program to provide a government position for anyone seeking work. Unlike private industries who compete over prices and wages, the ELR "industry" is not meant to compete with the private sector; rather it provides public services that are not offered by the private sector. The task here is to estimate the private sector effects of the implementation of the ELR program for the State of Missouri. JEL Codes: B51, C3, E11, E12, E23, E24

"This edited collection investigates how full employment programs can sustain the economy and the environment, promote social justice, and reinvigorate local communities. The contributing authors focus on the formation of institutions to eliminate the opportunity gap for marginalized populations, enact environmentally sustainable methods of production and consumption, and rebuild local economies through education, training, and community redevelopment programs. They argue that the formation and implementation of a federally funded, locally operated Job Guarantee program is a vital component to address a variety of complex and interweaving concerns. Through the formation of alternative institutions and encouraging local economies, the Job Guarantee approach has the potential to alter economic, social, and political structures away from an exploitative market-oriented structure toward one that is refocused on humanity and the sustainability of the earth and its peoples, cultures, and communities."--

The contributors to this edited collection argue that a flexible Job Guarantee program able to react to an economy's fluctuating need for work would stabilize the labor standard, the value of employment in relation to money. During economic downturns, the program would expand to provide more public sector jobs in response to private sector layoffs. It would then contract when economic growth offered private sector employment opportunities. This flexible full employment program would create a balanced, perpetually active labor force, providing the macroeconomic stability necessary to define a functioning labor standard. Just as the gold standard measured the worth of money against gold reserves, John Milton Keynes argued, so a labor standard ought to measure the value of money in terms of its labor equivalent. However, he failed to account for the fact that, unlike a gold standard, a labor standard does not have any kind of surety that money will continue to match its value in paid work over time. Together, the contributors argue that full employment would provide this missing security and allow authorities to define the value equivalencies of money and labor, the way that money once represented its exact equivalent in gold.

Most of the scholarship on the Job Guarantee up to now has been in the context of industrialized nations such as the United States and Australia. "Employment Guarantee Schemes" directs attention to challenges and opportunities of enacting direct job creation policies in developing countries and BRICS, including China, Ghana, Argentina, and India. This book also investigates how the Job Guarantee might interface with other policy goals, such as environmental sustainability. Eschewing narrow individualistic and economistic approaches, these interdisciplinary, historical, and comparative studies delve deeper into how both unemployment and true full employment can affect community.