“The Return of Full Employment Policy”

The Return of Full Employment Policy

It is often argued that the era of full employment and Keynesian economic policy is over. Most orthodox economists claim that, in the long run, real full employment cannot be achieved with demand management policies. Active demand management is, thus, deemed to be too costly and inflationary.

Top Post-Keynesian economists James K. Galbraith and L. Randall Wray, however, argue that achieving full employment through demand management is still perfectly possible. They suggest that, in order to achieve full employment and carry out democratic economic policies, governments have to break out from the pressures of the private bond markets.

Come to hear Galbraith and Wray for the most important economic policy event of the year! The event is free and open to everyone. We ask participants to register in advance to info@sorsafoundation.fi.

The event is organised by the Foundation for European Progressive Studies with the support Kalevi Sorsa Foundation and Finnish Confederation on Trade Unions (SAK)

Draft program

14.00–14.15  Opening

14.15–15.00  A Question of Institutions: Why In Spite of Reactionary Economic Ideas the US Still Survived the Great Financial Crisis, and Europe Did Not.

– James K. Galbraith, Professor, University of Austin Texas

15.00–15.45 Modern Money, Functional Finance, and Full Employment

– L. Randall Wray, Professor, University of Missouri Kansas City:

15.45–16.15 Break

16.15–18.00  Comments and Panel Discussion

moderated by Dr. Ville-Pekka Sorsa  (University of Helsinki)

– Olli Koski (Chief Economist, SAK)

– Jukka Pekkarinen (Director, Ministry of Finance)

– James K. Galbraith

– L. Randall Wray