Document Type


Publication Date

Spring 2020


In recent years, the idea of the Government as an “employer of last resort” (ELR) has gained traction, both in the academic and general public spheres. While the origins of this idea can be traced through several economists, one of the most prominent conceptions of the policy comes from L. Randall Wray in his 1998 book Understanding Modern Money. In this piece, Wray outlines a policy whereby the government would offer meaningful employment to essentially anyone willing and able to work. The purpose would be to effectively solve the problem of involuntary unemployment. By putting this group of people to work, the policy would support full employment and boost the economy by achieving its full productive capacity, while also controlling inflation and reducing inequality.

Is Part Of

Student Papers in Local and Global Regional Economies