Spencer, D.A. orcid.org/0000-0002-7803-6105 (2024) Beyond Full Employment: Keynes and Kalecki on our Economic Future. Review of Political Economy. ISSN 0953-8259
Abstract
This paper addresses the idea of creating an economy beyond full employment — namely one that offers some work for people to do but also more abundant leisure time. It argues that this idea has endured in critical political economy. J.M. Keynes gave it support directly. Its realisation though raises concerns over the balance of power relations in society and the scope to use the productivity gains from technological progress to lighten work. Here useful lessons on the limits to reducing work in the economy can be gleaned from Michal Kalecki’s work. The paper uses the writings of Keynes and Kalecki to consider the possibilities for and barriers to creating a different (leisure-filled) economic future. Some wider implications are drawn for modern debates concerning the scope for achieving a four-day working week. Overall, the paper establishes the value of integrating ideas from both Keynes and Kalecki and of emulating their common endeavour to promote the vision of a radically different economic future.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2024 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent. |
Keywords: | Keynes; Kalecki; working time; economic futures; four-day working week |
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: | 20 Feb 2024 13:53 |
Last Modified: | 27 Feb 2024 15:21 |
Status: | Published online |
Publisher: | Taylor & Francis |
Identification Number: | 10.1080/09538259.2024.2317183 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:209347 |
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