Greek Labour Institute Partnership (2011-14)

Three years into the austerity regimen imposed as a condition of Greece's bailout by international lenders, the country's unemployment rate reached an unprecedented 27 percent—the highest in the European Union. Youth unemployment approached 60 percent. More than 1.3 million people were without jobs, and reports suggested that one out of three Greek households was living in poverty. Greece became 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 partnered 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 provided transitional jobs supporting skills training, capacity building, and entrepreneurship, offering communities an opportunity to actively transform their own social and economic environment. Our partnership with the INE-GSEE included 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
Phone: 845-758-7711
Fax: 845-758-1149
[email protected]

High school students across the US have been studying and citing the work of Research Scholar Pavlina Tcherneva to argue affirmatively for the job guarantee in preparation for the '24 national debate tournaments. 

Read Senior Scholar James K. Galbraith's article, "Entropy, the Theory of Value and the Future of Humanity" featured by the Economic Democracy Initiative. 

Read Senior Scholar James K. Galbraith's article, "Industrial Policy Is a Good Idea, but So Far We Don’t Have One" featured by the Institute for New Economic Thinking

Bard College’s Levy Economics Institute Receives $500,000 Hewlett Grant for its Gender Equality and the Economy Program

Listen to Levy Scholar Pavlina Tcherneva on Back Ground Briefing with Ian Masters, "The Disconnect Between Biden’s Great Economic Numbers and How Voters Feel about the Economy"

William Waller, Senior Scholar at the Levy Economic Institute, Mary Wrenn, Senior Lecturer at University of the West of England, and Matthew Watson, Professor of Political Economy at Warwick University discussed Thorstein Veblen’s book, The Theory of the Leisure Class on In Our Times with Melvyn Bragg on BBC4 on Thursday, November 9th

Institute Scholar Michalis Nikiforos and Simon Grothe's article "Markups, Profit Shares, and Cost-Push-Profit-Led Inflation" was featured by the Institute for New Economic Thinking 

Rania Antonopoulos spoke in support of a European Job Guarantee during the 15th Congress of the European Trade Union Confederation

Levy Economics Institute of Bard College Receives $211,000 to Continue Study of Potential Impacts of Policies that Expand Care Services in Mexico

Read Yeva Nersisyan and L. Randall Wray's latest op-ed on SVB and the Fed

Institute Scholar Yeva Nersisyan's op-ed "Lowering inflation isn't a job for a one-trick pony" featured in The Hill