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Sandwichman — Job Guarantee versus Work Time Regulation

Summary:
There has been a bit of commotion recently about the Job Guarantee idea (AKA employer of last resort). I don't consider myself an opponent of the strategy but I do have several reservations about its political feasibility, the marketing rhetoric of its advocates, and its economic and administrative transparency. Some of these concerns I share with an analysis presented by Robert LaJeunesse in his 2009 book, Work Time Regulation as Sustainable Full Employment Strategy. For that reason, it would be timely to post an excerpt from Bob's discussion of"Job guarantees versus work time regulation."... Lot of the things to think about and debate here.It is framed in the spirit of inquiry rather than polemic, persuasion or invective, or in a such a formalized (wonkish) style that it is

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There has been a bit of commotion recently about the Job Guarantee idea (AKA employer of last resort). I don't consider myself an opponent of the strategy but I do have several reservations about its political feasibility, the marketing rhetoric of its advocates, and its economic and administrative transparency. Some of these concerns I share with an analysis presented by Robert LaJeunesse in his 2009 book, Work Time Regulation as Sustainable Full Employment Strategy. For that reason, it would be timely to post an excerpt from Bob's discussion of"Job guarantees versus work time regulation."...
Lot of the things to think about and debate here.

It is framed in the spirit of inquiry rather than polemic, persuasion or invective, or in a such a formalized (wonkish) style that it is impenetrable to non-experts.

The following excerpt is from pages 125-134 of Work Time Regulation as Sustainable Full Employment Strategy.
 Longish but worth the read.

Basically the idea is that increasing distributed leisure made possible by productivity gains from technology is superior to a buffer stock of employed approach that simply continues the existing system after it has reached its expiration date.

This is the type of discussion we should be having.

Econospeak
Job Guarantee versus Work Time Regulation

Sandwichman
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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