Sawyer, M. orcid.org/0000-0002-4565-5276 (2023) Political Aspects of Full Employment: Eight Decades On. Review of Political Economy, 35 (4). pp. 1109-1123. ISSN 0953-8259
Abstract
The contribution and continuing relevance of Kalecki’s paper on ‘Political aspects of full employment’ on the 80th anniversary of its publication is the central topic. There are five sets of important and interrelated ideas in Kalecki’s paper. Full employment was feasible under capitalism from the perspective of securing a high level of demand through government spending. There would be resistance, particularly from business and finance to prolonged full employment, and there are political and social constraints on long-term full employment. Fascism had secured full employment through its relationships with big business and reducing the political obstacles. A political business cycle with full employment achieved at best at the top of the cycle could be generated. The role of ‘fundamental reforms’ in sustaining full employment under capitalism, and the ‘fate’ of fundamental reforms is reviewed.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2023 The Author(s). This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (CC-BY-NC-ND 4.0). |
Keywords: | Kalecki; full employment; budget deficits; political constraints; business cycle |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 28 Nov 2023 10:44 |
Last Modified: | 28 Nov 2023 10:44 |
Status: | Published |
Publisher: | Taylor and Francis Group |
Identification Number: | 10.1080/09538259.2023.2248027 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:205988 |
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