Maximilian Kasy
@maxkasy@mastodon.social
Econ prof at Oxford. Machine learning, politics, econometrics, inequality, random reading recs.
mastodon.social
Reading rec:
"Political Aspects of Full Employment"
Intriguing 1943 essay by Michał Kalecki
https://mronline.org/2010/05/22/political-aspects-of-full-employment/
Reasons of business opposition to full employment:
It would eliminate business political power
1) over government, which is forced to maintain "business confidence" to avoid slumps, and
2) over workers, for whom the threat of unemployment serves as disciplining device.
What if #basicincome or #jobguarantee would blunt these threats?