GRANVILLE, Ohio – Benjamin C. Wilson, Research Scholar at the Binzagr Institute and Assistant Professor of Economics at SUNY Cortland, published a new working paper titled “Monetary Policy for Full Employment and Price Stability” (Working Paper No. 119, December 2017).
While the traditional view holds that full employment is a matter of fiscal policy, Wilson presents a new way of thinking of monetary policy as a viable strategy for full employment. The proposal is constructed through a critique of the orthodox understanding of money, a historical and institutional appraisal of monetary policy actions during and after the financial crisis, and a geographically grounded approach to understanding systemic economic problems and policy. The objective is to expand the full employment discussion into the monetary sphere and advocate for spatial analysis over abstract economic modeling as a primary tool for public policy design.
“Dr. Wilson’s work puts forward a new way of looking at monetary policy by leveraging the combination of historical, institutional, and geographic analysis of the economy,” said Fadhel Kaboub, President of the Binzagr Institute. “This is the kind of structural and macro level thinking that also takes into account the often ignored local and regional specificity,” he added.
“These policy changes have been suggested to change the structure of our monetary system, the financial industry, and the economy as a whole. The unnecessary uncertainty created by the fiscal authority holding payments such as disability hostage for political gain must be removed. Giving citizens the freedom to monetize their own labor power is emancipatory and provides new democratic power for determining how Americans want their neighborhood and community to operate.”
A brief promotional video for this working paper is available on the Binzagr Institute’s YouTube channel.
The Binzagr Institute for Sustainable Prosperity is an independent public policy think-tank dedicated to the promotion of interdisciplinary research in the service of an improved quality of life for all members of society. The institute provides alternative public policy solutions that address a wide range of socio-economic problems faced by the global community. If you would like more information on the institute’s publications, please call 740-587-6315 or send an email to [email protected].