Employer of Last Resort Policy and Feminist Economics: Social Provisioning and Socialization of Investment

Abstract

The focus of the paper is on the Employment of Last Resort (ELR) policy proposal that has emerged from Post Keynesian theory. The paper discusses this macroeconomic policy as an embodiment of what Keynes called “socialization of investment,” as well as an avenue for a social provisioning approach towards socialization of unpaid care labor. Intersections between Post Keynesian and feminist economics are delineated. The paper proposes avenues for input from feminist economics into formulation of an ELR policy, and raises questions about transformation of gender relations.

Keywords: Post Keynesian Economics, gender, Minsky, employment programs

JEL Classification: B 54, E12, E24, E61