The Cost of Job Guarantee in the United States

Author:

Tymoigne Eric1

Affiliation:

1. Lewis and Clark College, Portland, OR, USA

Abstract

From the 1960s, Minsky argued that implementing a decentralized job-guarantee policy funded by the federal government was a relevant way to promote full employment and price stability, and to alleviate poverty. This policy aims at providing a job to anybody willing to work and to pay a living wage. Over the past fifteen years, this idea has been subject to greater scrutiny and this paper contributes to that literature by estimating the gross cost of implementing a job-guarantee policy (JG). In order to calculate this cost, the paper uses the data available from the 1930s work programs. These work programs provide some interesting insights because enough data are available to determine the cost of JG under widely different rates of unemployment. The paper shows that JG would have been quite expensive during the early part of the 1930s when the unemployment rate was at 20 percent or more. Once unemployment receded to a usual level, the gross cost of JG would have been low.

Publisher

SAGE Publications

Subject

Economics and Econometrics,Philosophy

Reference45 articles.

Cited by 4 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. On price stability with a job guarantee;Contemporary Economic Policy;2022-05-23

2. Why Has Labor Not Demanded Guaranteed Employment?;Journal of Economic Issues;2021-07-03

3. Reflections on the New Deal: The Vested Interests and Limits to Reform*;Research in the History of Economic Thought and Methodology: Including a Symposium on Public Finance in the History of Economic Thought;2020-02-19

4. Reflections on the New Deal: The Vested Interests, Limits to Reform, and the Meaning of Liberal Democracy;SSRN Electronic Journal;2018

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3