In Defense of Employer of Last Resort: A Response to Malcolm Sawyer

William F. Mitchell · L. Randall Wray

81 citations0/0 files storedJournal of Economic Issues

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Economic Theory and Policy Labor market dynamics and wage inequality Political Economy and Marxism

Abstract

It is difficult to respond to Sawyer’s (2003) assessment of employer of last resort (ELR) proposals.2 First, he has taken an ‘everything-but-the-kitchen-sink ’ approach, attempting to cover just about every issue even tangentially related to ELR. As a result, many of his critiques remain underdeveloped and vague. And second, many of

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1998Understanding modern money : the key to full employment and price stability 1998The Buffer Stock Employment Model and the NAIRU: The Path to Full Employment 2003Employer of Last Resort: Could It Deliver Full Employment and Price Stability?2024The Economic and Labour Relations Review

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