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... Das Konzept der "Arbeitsplatzgarantie" erhielt in letzter Zeit international immer mehr Aufmerksamkeit als wirksames Mittel im Kampf gegen Langzeitarbeitslosigkeit (OECD 2021;ILO 2021;Tcherneva 2020;Wray et al. 2018). Eine Jobgarantie für langzeiterwerbslose Menschen zielt darauf ab, jenen Menschen Arbeitsplätze zur Verfügung zu stellen, die von Beschäftigung ausgeschlossen bleiben. ...
Derzeit wird das Konzept der "Arbeitsplatzgarantie" international wieder als Instrument im Kampf gegen Langzeitarbeitslosigkeit diskutiert. Eine staatlich geförderte Jobgarantie für langzeiterwerbslose Menschen zielt darauf ab, jenen Menschen einen Arbeitsplatz zur Verfügung zu stellen, die von Beschäftigung ausgeschlossen bleiben. Das Arbeitsmarktservice Niederösterreich setzt dieses Konzept seit dem Jahr 2020 im "Modellprojekt Arbeitsplatzgarantie Marienthal" (MAGMA) für insgesamt 150 Personen um. Dieser Beitrag stellt Wirkungen im Hinblick auf latente Erfahrungskategorien von Erwerbsarbeit (Zeitstruktur, soziale Kontakte, soziale Wertschätzung, Tätigkeit, Teilhabe an der Erreichung kollektiver Ziele, Selbstwirksamkeit) dar. Dazu haben wir 25 von anfänglich 42 Teilnehmer:in-nen des Modellprojekts im Zeitraum von zwei Jahren mehrmals quantitativ und qualitativ befragt. Die Analysen zeigen heterogene Teilnehmer:innen mit unterschiedlichen Ausgangssituationen. Wir stellen positive Veränderungen der Zeitstruktur und Aktivitäten sowie der Quantität und Qualität sozialer Kontakte fest. Durch den Zugang zu Erwerbsarbeit nimmt das Gefühl sozialer Wertschätzung sowie zu kollektiven Zielen beizutragen zu. Beides kann durch fehlenden subjektiven Sinn oder nicht erkennbare Nützlichkeit der Tätigkeiten getrübt werden. Insbesondere die Selbstwirksamkeit, das Gefühl, schwierige Herausforderungen selbstständig bewältigen zu können, nimmt im Zeitverlauf zu. Die Ergebnisse zeigen, dass sich das Konzept der Arbeitsplatzgarantie in Österreich mit positiven Wirkungen in einer Reihe relevanter Dimensionen für die Teilnehmer:innen umsetzen lässt.
... If increasing tax receipts and extra output generated are considered, the benefits of the programme would exceed its costs. Subsequent studies for the United States were conducted by Majewski (2004), Fullwiler (2007, Mur-ray (2017), and Wray et al. (2018). More recently, Mario (2021) performed simulations for the Argentine economy from 2003 to 2015 using an adapted version of the US-Fair model. ...
Unemployment in Austria has increased considerably since the late 1970s, reaching its climax during the recent Covid-19 crisis with 409,639 individuals being registered unemployed in 2020. Conventional policy instruments appear insufficient to effectively address the persistent rise in unemployment over the decades. An increasingly prominent policy approach is the employer of last resort (ELR) which offers public employment at a base wage to everyone willing and able to work. The aim here is to simulate the economic effects of an ELR covering all registered unemployed people in Austria in 2020 using a static input-output model. The channel through which the ELR operates is the additional income generated by employing the unemployed. This income is assumed to translate into household consumption expenditure, ultimately spurring aggregate demand. The simulation results indicate that in a middle-bound scenario with respect to the programme wage, the ELR would raise output (Produktionswert) by 2.2% of GDP, value added by 0.9% of GDP, employee compensation by 0.4% of GDP and non-ELR employment by a total of 36,000 full-time equivalents. The results indicate that implementing an ELR programme would not only remove involuntary unemployment but also be accompanied by beneficial macroeconomic effects.
... Additionally, creating demand may not increase output and employment when profitability of investment is not sufficient (Roberts 2020). Public employment as a supply-side action (see for instance Wray et al. 2018) that meets increasing nominal demand may dampen inflation pressure but is still not able to avoid it once close-to-full employment leads to increasing wages. ...
... The purchasing power of the people could be increased by deficit financing and subsidies. As a result, an increase in the aggregate demand for goods and services leads to a rise in the demand and supplies operationalize, the economy's depression situation tends to disappear and the economy moves towards a full-employment level (Farmer, 2017;Wray et al., 2018). On the other hand, whenever, there is a higher effective demand for goods and services the supply of money also increased, that will because of inflation in the country. ...
Minimizing the level of economic misery is one of the prime objectives of all economies for the last couple of decades. It is not individuals who can themselves control it, some public policy options provide roots to minimize economic misery. This article has examined the role of public policy in determining the level of economic misery among developed and developing countries from 1987 to 2019. The empirical findings of the article show level of domestic investment, foreign debt, and government revenue are discouraging economic misery among developing countries. Whereas economic development and the level of the population are encouraging economic misery among developing countries. The level of domestic investment is promoting economic misery in developed countries, but government revenue and economic development are reducing economic misery among developed countries. In the case of the whole sample analysis, the level of domestic investment and government revenues decreases the level of economic misery, but the level of population, foreign debt, and economic development depresses the economic misery. Thus, it is concluded that public policy plays important role in determining economic misery both in developed and developing countries. Developing countries should raise the level of domestic investment and government revenue to depress economic misery. Developed countries should raise government revenue and economic development to depress economic misery. So, for the reduction of economic misery in developed and developing countries, public policy must be strengthened.
... Essas opções estariam abertas ao se considerar que trajetórias tecnológicas não são inevitáveis nem incontornáveis e que o setor público, através de intervenções variadas (regulação, compras, crédito, financiamento, investimentos próprios), pode vir a induzi-las ou contorná-las (Atkinson, 2015). Sugestão de função similar do setor público aparece no debate em torno do "emprego garantido", postos de trabalho garantidos em obras públicas e serviços públicos comunitários (Wray et al., 2018). ...
Apresento neste artigo a proposta de alçar os serviços sociais públicos ao status de componente centralde um projeto de desenvolvimento. Por que os serviços sociais públicos? Para além das evidentes eurgentes necessidades sociais, que justificativas teóricas reivindicam para eles a atenção pública? Quala atualidade dessas justificativas em termos de debates contemporâneos? Que efeitos de encadeamentoos serviços sociais públicos disparam e que evidência temos de desdobramentos desejáveis em termosdos desafios contemporâneos do desenvolvimento? Essas são as questões que aqui me ocupam.
... In recent years, it has regained momentum both in academic and policy circles as it has increasingly intertwined with the GND, a set policy proposal to foster the transition away from carbon fossil fuels, increase energy efficiency and promote both environmental and social sustainability (Cucignatto 2021;Nersisyan and Wray 2021). In the version put forward by the Levy Institute (Wray et al. 2018), a backbone of this strategy will be represented by an ambitious ELR program targeting the labor force with below-1 Knapp's main take is indeed that money is an institutional arrangement used to measure debt and credit relations rather than primarily as a medium of exchange. His view was endorsed by Keynes in his 1930 Treatise on Money (Keynes 1930), where he stated that the State accomplished the monopoly of the payment system when it 'claimed the right not only to enforce the dictionary but also to write the dictionary', a situation existing for at least 'four thousand years'. ...
We argue that a careful design of a program of direct employment and public provision by the state can have permanent effects and promote the structural and environmental transformation of the economy. Starting from this point, we develop a multisectoral stock-flow consistent model to study the long-run effects of the implementation of a job guarantee program, both in the original formulation of Minsky and in its recent version put forward as part of the 'Green New Deal' (GND) policy package. We also assess the impact of both 'green' and 'brown' standard fiscal expenditures, as well as a policy mix including industrial, environmental and employment measures. Results from our simulations point out that, in order to pursue the twin targets of full employment and environmental sustainability, the government should invest in gross fixed capital formation while both reducing energy consumption and acting as an employer of last resort in order to absorb the workforce expelled from the energy sector.
... The idea here is simple: While at present the economy operates with a buffer stock of unemployed people, the JG proposes to operate with a buffer stock of employed people. MMT proposes a centrally funded but locally administered "public service employment" (PSE) (Randall Wray & Kelton, 2018;Tcherneva, 2018). Another issue is the Green New Deal (GND) which relates to the climate crisis (Nersisyan & Randall, 2019). ...
Recent monetary policies of quantitative easing have produced a cognitive dissonance with the previous “there is no money” mantra and invite us to revisit our understanding of the costs and economics of distance education (DE). It turns out that study of the costs of DE was narrowly rooted in neoclassical microeconomics. Consequently, DE has focused on driving down costs and devolving costs to the students, thereby contributing to increasing student debt. The chapter summarizes the efficiency gains of traditional DE and their changes due to the emerging affordances of information and communication technologies (ICT). The chapter also notes changes in the “macroeconomic weather conditions,” which have led to regarding education less as means to raise productivity than as a center for profit itself. As a consequence, cost efficiency gains have often not been handed to the learner, leading to rises in tuition fees and, consequently, student debt.
The second half of the chapter introduces modern money theory (MMT), a different economic paradigm, which suggests that monetary sovereign countries have enough policy space not to focus narrowly on driving down costs. It notably suggests that devolving costs to students turns out, from the MMT perspective, to be misguided. It identifies a policy space which can be used to build in additional resilience, especially required in times of crises.
... Coerentemente con l'idea di Minsky, Randall Wray (sostenitore, insieme ad altri teorici del Levy Institute, del programma Job guarantee) ha diviso le possibili occupazioni su cui lo Stato dovrebbe decidere di investire in tre macroaree: cura dell'ambiente (tra cui la cura dei parchi e delle spiagge, la manutenzione dei giardini pubblici ecc.), cura delle comunità (come, ad esempio, la manutenzione delle strade, la pulizia delle strade e la sicurezza urbana) e cura delle persone (che può fare riferimento anche all'accompagnamento degli anziani e ai doposcuola per i bambini) (Wray et al. 2018). ...
La proposta di H. Minsky di uno Stato come Employer of Last Resort offre una prospettiva alternativa con cui affrontare i problemi della povertà, della diseguaglianza e della disoccupazione strutturale, configurandosi come una policy che, pur partendo dal mercato del lavoro, ha il potenziale per coinvolgere l’intera società e trasformare in senso più equo e sostenibile il modello di sviluppo. L’articolo ne propone una disamina, affiancando all’analisi teorica una breve rassegna delle principali esperienze/sperimentazioni internazionali che traggono ispirazione dall’idea di ‘lavoro garantito’.
... El TG o el SPE es una propuesta de diversos autores (Minsky, 1965;Tcherneva, 2020;Wray et al, 2018) que consiste en ofrecer por parte del Estado un trabajo a un salario digno a toda persona que desee y esté disponible para trabajar. El TG es un programa de carácter contracíclico que cobra relevancia en recesiones económicas en las cuales el sector privado despide trabajadores, generando un elevado desempleo. ...
... En cuanto al efecto del TG sobre la inflación, las simulaciones hechas para EE. UU. no muestran un impacto significativo (Wray et al, 2018), más aún si el programa se introduce de manera gradual hasta cubrir toda la población objetivo. ...
El objetivo de este artículo es el de revisar los principales planteamientos de la Teoría Monetaria Moderna (MMT, por sus siglas en inglés) y presentar, con base en esta teoría, un contraste empírico para el periodo 2007-2018, entre las operaciones de la tesorería del gobierno nacional y las operaciones monetarias del Banco de la República de Colombia. Se encontró que el déficit de la Tesorería del gobierno y los desembolsos netos de títulos TES, fueron compensados regularmente por las operaciones monetarias del Banco de la República, lo que evidenció la capacidad del emisor para controlar las tasas de interés de corto y mediano plazo, tal como lo describe la MMT. Pese a las auto restricciones legales para que el emisor financie al gobierno, los resultados presentados validan la coordinación de las operaciones fiscales y monetarias planteadas por la MMT. De acuerdo con esto, es posible tener como objetivo el pleno empleo, a través del trabajo garantizado, lo cual no obstante, debe acompañarse de un proceso de trasformación productiva.
... In order to explain the empirics, MMT does not rely on the mainstream theoretical work of the past 50 years, most of which is a step backward to the pre-1940s microeconomics/ markets/imperfections way of analysing national issues. Instead, MMT-ers rely on the theoretical work and models developed by Keynes, post-Keynesian economists, 'old' institutional economists, among others, as well as their own (for example , Fullwiler 2007;Godley/Lavoie 2007a;Hein 2018;Wray et al. 2018). A central conclusion is that the fiscal balance is not under the control of policymakers but, rather, adapts to the needs of the economic system. ...
make several claims about the inadequacy and fallacy of modern money theory (MMT) and conclude that MMT is nothing more than a political manifesto; there is no theoretical and empirical foundation beneath it. The present paper addresses this last point by focusing on the fiscal and monetary policy aspects of their criticisms. Contrary to what they claim, MMT is backed by a large body of empirical evidence, a rich institutional analysis, and a well-developed theoretical framework (including mathematical models). MMT provides a detailed analysis of the coordination between the fiscal and monetary branches of government, emphasizes that fiscal deficits are a stylized fact, and uses theoretical tools grounded in institutional realities to explain this stylized fact.
