Daily Archives: August 1, 2012

Thomas Palley Conflates the Conservative Party in the UK with UMKC

By William K. Black

Thomas Palley argues that the UK Conservative Party’s plan to abuse the unemployed “confirms” the accuracy of his opposition to MMT theorists’ employer of last resort/job guarantee (ELR/JG) proposals.  His logical chain is as follows.

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Why Don’t People Want Full Employment? Michal Kalecki’s 1943 Essay on Politics and Ideology

By Michal Kalecki*


1. A solid majority of economists is now of the opinion that, even in a capitalist system, full employment may be secured by a government spending programme, provided there is in existence adequate plan to employ all existing labour power, and provided adequate supplies of necessary foreign raw-materials may be obtained in exchange for exports.

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