by Summary:
Must-read. Its' a very positive article, but unfortunately, the job guarantee is not presented in terms of the basic issue — the choice between a buffer stock of employed or buffer stock of unemployed, and how the former is superior using efficiency and effectiveness as criteria. The other key issue is how the JG is an integral aspect of policy formulation that promises to reconcile the trifecta of growth, employment and price stability, previous thought to be impossible without using one as a tool to target the others. Adoption of policy based on MMT analysis should keep the economy operating a close to optimal output and employment along with moderate inflation, with the JG playing the dual role of providing a price anchor, on one hand, and on the other, mopping up residual
Topics:
Mike Norman considers the following as important: JG, Job Guarantee, MMT, Stephanie Kelton, US economic policy, US Politics
This could be interesting, too:
Must-read. Its' a very positive article, but unfortunately, the job guarantee is not presented in terms of the basic issue — the choice between a buffer stock of employed or buffer stock of unemployed, and how the former is superior using efficiency and effectiveness as criteria. The other key issue is how the JG is an integral aspect of policy formulation that promises to reconcile the trifecta of growth, employment and price stability, previous thought to be impossible without using one as a tool to target the others. Adoption of policy based on MMT analysis should keep the economy operating a close to optimal output and employment along with moderate inflation, with the JG playing the dual role of providing a price anchor, on one hand, and on the other, mopping up residual
Topics:
Mike Norman considers the following as important: JG, Job Guarantee, MMT, Stephanie Kelton, US economic policy, US Politics
This could be interesting, too:
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Michael Hudson writes International Trade and MMT with Keen, Hudson
Its' a very positive article, but unfortunately, the job guarantee is not presented in terms of the basic issue — the choice between a buffer stock of employed or buffer stock of unemployed, and how the former is superior using efficiency and effectiveness as criteria.
The other key issue is how the JG is an integral aspect of policy formulation that promises to reconcile the trifecta of growth, employment and price stability, previous thought to be impossible without using one as a tool to target the others.
Adoption of policy based on MMT analysis should keep the economy operating a close to optimal output and employment along with moderate inflation, with the JG playing the dual role of providing a price anchor, on one hand, and on the other, mopping up residual unemployment after the application of function finance to fiscal policy based on stock-flow consistent macro modeling.
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