Greek Labour Institute Partnership


Three years into the austerity regimen imposed as a condition of Greece's bailout by international lenders, the country's unemployment rate has reached an unprecedented 27 percent—the highest in the European Union. Youth unemployment is approaching 60 percent. More than 1.3 million people are without jobs, and reports suggest that one out of three Greek households is living in poverty. Greece has become the epicenter of the worst crisis of capitalism since the interwar depression.

The Levy Institute reflects a belief that sound public policy can lead to full employment and sustained growth. In that regard, we are partnering with the Labour Institute of the General Confederation of Greek Workers (INE-GSEE) to design and implement an emergency employment program for the social economy sector in Greece, along the lines of Hyman Minsky's employer-of-last-resort policy proposal. This pilot program will provide transitional jobs supporting skills training, capacity building, and entrepreneurship, offering communities an opportunity to actively transform their own social and economic environment. Our ongoing partnership with the INE-GSEE includes the development and application of a stock-flow consistent model for simulating the Greek economy, designed along the lines of the US macro model on which the Institute's Strategic Analysis series is based.

Project Director

Dimitri B. Papadimitriou
President
Phone: 845-758-7711
Fax: 845-758-1149
dbp@levy.org

Dimitri Papadimitriou joins the hosts of "Bloomberg Daybreak: Europe" to discuss his outlook for the economy.

Rania Antonopoulou, former Alternate Minister of Labor of Greece, shares her "own truth."

Rania Antonopoulou, former Alternate Minister of Labor of Greece, shares her "own truth."


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The Rock-Star Appeal of Modern Monetary Theory

The Sanders generation and a new economic idea
Minsky's Moment

Minsky's Moment

The second in a series of articles on seminal economic ideas looks at Hyman Minsky’s hypothesis that booms sow the seeds of busts.