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on Post Keynesian Economics |
| By: | Eckhard Hein; Hagen M. Krämer |
| Abstract: | This paper examines the challenges of achieving and sustaining full employment in a global economy, as discussed by Michał Kalecki and John Maynard Keynes. Its aim is to analyse the common perspectives and differences between Kalecki and Keynes on this issue. The paper first examines the basic views of Kalecki and Keynes on long-term employment issues. This contains comparing their respective considerations of political economy constraints to full employment. Then Kalecki’s and Keynes’s views on the constraints in open economies and the economic policy strategies they proposed are assessed. The paper points out Kalecki’s advocacy for public deficit spending and income redistribution for achieving full employment, which slightly differs from Keynes's emphasis on stimulating investment, including partial socialisation. Regarding power relations, Kalecki focussed on the conflict between capital and labour, calling for ‘crucial reforms’ like nationalisation of key industries, while Keynes highlighted the conflict between financial and industrial capital. Both shared a nuanced view of globalisation, but differences emerge when discussing the Keynes Plan. Keynes aimed to prevent deflation in the international monetary system, while Kalecki stressed long-term international lending for sustaining full employment. Both economists underscored the importance of international conditions for achieving full employment, emphasizing the need for a balance of payments equilibrium over strictly balanced current accounts. |
| Keywords: | Full employment, global economy, John Maynard Keynes, Michał Kalecki |
| JEL: | E11 E12 E61 F41 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2404&r=pke |
| By: | Barbara Petrongolo |
| Abstract: | The study of gender was far from mainstream in economics when Claudia Goldin began her research on women and work in the 1980s. Barbara Petrongolo discusses the impact of the 2023 economics Nobel laureate in shaping today's research frontier on gender inequalities - from public policy to the stereotypes and social norms that have such a powerful influence on women's participation in the labour market. |
| Keywords: | gender, equality, public policy, labour markets |
| Date: | 2024–02–20 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepcnp:671&r=pke |
| By: | Gaddis, S. Michael (NWEA) |
| Abstract: | Racial bias experiments commonly use names to signal race as treatments. However, recent methodological examinations find that individuals often perceive class and race together. This calls into question the treatment validity of thousands of experiments. Still, little evidence exists on what leads to name perceptions and how scholars might increase treatment validity in future studies. I suggest that racialized and classed demographic naming patterns may influence individuals’ perceptions of names. I conducted two survey experiments and used demographic birth record data to examine social class perceptions. In total, 7, 695 respondents provided 82, 321 perceptions on 636 combinations of first and last names. Although demographic naming patterns have small effects on respondents’ social class perceptions of White-signaled names, classed patterns have a large effect on respondents’ perceptions of Black-signaled names. These findings suggest that treatment validity is a severe problem for bias experiments. To help mitigate this problem, I provide seven recommendations that researchers should implement in all experiments that use names to signal various characteristics. Scholars who follow these recommendations will neutralize or minimize threats to treatment validity, engage in a more empirical and open scientific process, and, in some cases, open up new avenues of research on bias. |
| Date: | 2023–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:cdgju&r=pke |