What jobs should a public job guarantee provide? Lessons from Hyman P. Minsky

Arbeitspapier

The job guarantee is a viable policy option for tackling both unemployment and underemployment. Hyman P. Minsky was one of the seminal writers on this subject. The first part of this working paper provides a survey of Minsky's writings to identify what kind of jobs he had in mind when recommending employer-of-last-resort policies. Minsky favored: (1) jobs increasing socially useful output, providing all of society better public services and goods; (2) jobs guaranteed by the public sector on a project-by-project basis at a minimum wage; (3) jobs in the places where people need them; and (4) jobs taking the people that need them as they are. The second part of the paper suggests policy recommendations for today's economy. As long as the COVID-19 pandemic still rages on, a targeted public job guarantee program can assist in the social provisioning and distribution of food, shelter, and medical services. After the pandemic, a public job guarantee can reduce poverty and inequality, and bring about a more democratic, sustainable, and socially cohesive economic system.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 981

Klassifikation und Themen

• Klassifikation: Wirtschaft ; History of Economic Thought: Individuals ; Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity ; Policy Objectives; Policy Designs and Consistency; Policy Coordination ; Public Goods ; National Government Expenditures and Welfare Programs ; Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs ; Labor Force and Employment, Size, and Structure ; Public Sector Labor Markets ; Mobility, Unemployment, and Vacancies: Public Policy
• Thema: Job Guarantee ; Public Service Employment ; Employer of Last Resort (ELR) ; Unemployment ; Full Employment ; Minsky ; Policy Design ; COVID-19

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Haim, Daniel
• Ereignis: Veröffentlichung
• (wer): Levy Economics Institute of Bard College
• (wo): Annandale-on-Hudson, NY
• (wann): 2021

Weitere Informationen

• Handle: http://hdl.handle.net/10419/238671
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ