The Case for Labor Demand Targeting

Pavlina Tcherneva

Journal of Economic Issues, 2011, vol. 45, issue 2, 401-410

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.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:45:y:2011:i:2:p:401-410

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DOI: 10.2753/JEI0021-3624450217

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