Abstract:Abstract This paper argues for a fundamental reorientation of fiscal policy from the current aggregate demand management model to a model that explicitly and directly targets the unemployed. Some adva...Abstract This paper argues for a fundamental reorientation of fiscal policy from the current aggregate demand management model to a model that explicitly and directly targets the unemployed. Some advantages notwithstanding, aggregate demand management has a number of serious drawbacks that merit its reconsideration. This paper identifies these shortcomings and builds the case for a targeted demand management approach that can deliver economic stabilization through full employment and better income distribution. This approach is consistent with the original Keynesian policy recommendations and offers a reinterpretation of Keynes's proposal for the modern context with the help of the work of Hyman Minsky. Keywords: aggregate demand managementfull employmentincome inequalitylabor demand targetingpovertyRead More
Publication Year: 2011
Publication Date: 2011-05-24
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 13
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