by Summary:
Under a job guarantee, there would be a standing job offer at a living wage for anyone who wanted such a position. Anyone without employment in the broader economy, or unhappy with their present employment, could opt for a position in the job-guarantee program. Similarly, anyone with less hours of employment than desired could top up their hours by working part-time in the job-guarantee program. In principle, the program might be locally or centrally administered. But, irrespective of administrative details, it will be assumed that a currency-issuing government funds the program.One interesting aspect of a job guarantee, from an analytical perspective, is that it introduces an endogenous element to government spending. The government’s spending on the program will adjust automatically to
Topics:
Mike Norman considers the following as important: income-expenditure model, JG, Job Guarantee, MMT
This could be interesting, too:
Under a job guarantee, there would be a standing job offer at a living wage for anyone who wanted such a position. Anyone without employment in the broader economy, or unhappy with their present employment, could opt for a position in the job-guarantee program. Similarly, anyone with less hours of employment than desired could top up their hours by working part-time in the job-guarantee program. In principle, the program might be locally or centrally administered. But, irrespective of administrative details, it will be assumed that a currency-issuing government funds the program.One interesting aspect of a job guarantee, from an analytical perspective, is that it introduces an endogenous element to government spending. The government’s spending on the program will adjust automatically to
Topics:
Mike Norman considers the following as important: income-expenditure model, JG, Job Guarantee, MMT
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
Under a job guarantee, there would be a standing job offer at a living wage for anyone who wanted such a position. Anyone without employment in the broader economy, or unhappy with their present employment, could opt for a position in the job-guarantee program. Similarly, anyone with less hours of employment than desired could top up their hours by working part-time in the job-guarantee program. In principle, the program might be locally or centrally administered. But, irrespective of administrative details, it will be assumed that a currency-issuing government funds the program.heteconomist
One interesting aspect of a job guarantee, from an analytical perspective, is that it introduces an endogenous element to government spending. The government’s spending on the program will adjust automatically to variations in the number of people who accept the standing offer of a job. These variations will reflect employment fluctuations in the broader economy. Government spending will respond directly to employment fluctuations, and only indirectly to variations in income....
The Income-Expenditure Model with a Job Guarantee
Peter Cooper