The Freedom Budget at 45: Functional finance and full employment

Arbeitspapier

Forty-five years ago, the A. Philip Randolph Institute issued The Freedom Budget, in which a program for economic transformation was proposed that included a job guarantee for everyone ready and willing to work, a guaranteed income for those unable to work or those who should not be working, and a living wage to lift the working poor out of poverty. Such policies were supported by a host of scholars, civic leaders, and institutions, including the Rev. Dr. Martin Luther King Jr.; indeed, they provided the cornerstones for King's Poor Peoples' Campaign and economic bill of rights. This paper proposes a New Freedom Budget for full employment based on the principles of functional finance. To counter a major obstacle to such a policy program, the paper includes a primer on three paradigms for understanding government budget deficits and the national debt: the deficit hawk, deficit dove, and functional finance perspectives. Finally, some of the benefits of the job guarantee are outlined, including the ways in which the program may serve as a vehicle for a variety of social policies.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 668

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Current Heterodox Approaches: General ; Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity ; Policy Objectives; Policy Designs and Consistency; Policy Coordination ; National Budget, Deficit, and Debt: General ; Capitalist Systems: Political Economy
• Thema: unemployment ; full employment ; budget deficits ; national debt ; public policy ; Vollbeschäftigung ; Recht auf Arbeit ; Beschäftigungspolitik ; Sozialpolitik ; Öffentlicher Haushalt ; Öffentliche Schulden ; USA

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Forstater, Mathew
• Ereignis: Veröffentlichung
• (wer): Levy Economics Institute of Bard College
• (wo): Annandale-on-Hudson, NY
• (wann): 2011

Weitere Informationen

• Handle: http://hdl.handle.net/10419/56973
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ