Thomas I. Palley
The following story, which appeared in The Guardian on Sunday 29 July, was forwarded to me by Malcolm Sawyer:
“Million jobless may face six months’ unpaid work or have unemployment benefits stopped”
In a sense, the UK, under Conservative Prime Minister Cameron, is looking to adopt a quasi-employer of last resort (ELR) scheme in which the ELR wage is set equal to existing unemployment benefits (Note: the Conservative scheme involves compulsory labor for benefits).
Read the rest here.
Hemlock for economic students (Putting effective demand in the long run and prices of production together)
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