Details

Autor(en) / Beteiligte

• Setterfield, Mark
• Kriesler, Peter
• Halevi, Joseph

Titel

Political aspects of ‘buffer stock’ employment: a reconsideration

Ist Teil von

• Cambridge journal of economics, 2023-12, Vol.47 (6), p.1171-1186

Erscheinungsjahr

2023

Link zum Volltext

Quelle

Oxford Journals 2020 Social Sciences

Beschreibungen/Notizen

• Abstract Advocates of Job Guarantee (JG) or Employer of Last Resort (ELR) schemes have suggested that if the state provides ‘buffer stock’ employment to workers displaced from private employment, then full employment can be maintained over the course of the business cycle. Kalecki was sceptical about the prospects for maintaining full employment in capitalist economies, without fundamental institutional change that would alleviate certain political constraints. We argue that in and of themselves, JG/ELR schemes do not create the fundamental institutional change required to address Kalecki’s concerns and so ensure that full employment becomes achievable as a permanent state.