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Carlos García, José Luis de la Fuente – Is it Time for a Job Guarantee Programme in Spain?

Summary:
All this makes us think that in an advanced society such as ours it is no longer an illusion to defend the veracity of this statement: the only way to achieve permanent full employment is to prohibit involuntary unemployment, and therefore it is necessary to implement a program that guarantees that everyone who wants and can work has access to a decent job.... Such measures would not be impossible within the European Union and the euro if the European Union were to change its treaties. Above all, it would be necessary for the 3% public deficit limit set by the Stability and Growth Pact to be removed. If this were to happen and the European Union were to recognise that the correct level of public deficit is that which guarantees full employment without inflation thanks to job guarantees

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All this makes us think that in an advanced society such as ours it is no longer an illusion to defend the veracity of this statement: the only way to achieve permanent full employment is to prohibit involuntary unemployment, and therefore it is necessary to implement a program that guarantees that everyone who wants and can work has access to a decent job....
Such measures would not be impossible within the European Union and the euro if the European Union were to change its treaties. Above all, it would be necessary for the 3% public deficit limit set by the Stability and Growth Pact to be removed. If this were to happen and the European Union were to recognise that the correct level of public deficit is that which guarantees full employment without inflation thanks to job guarantees based on employment buffer stocks, the problem of mass unemployment in Spain could be solved within the European Union. However, there is no indication that the European Union will reform its treaties in this direction. Consequently, within the European Union and the single currency zone there will be no end to mass unemployment.
Brave New Europe
Carlos García, José Luis de la Fuente – Is it Time for a Job Guarantee Programme in Spain?
Carlos García Hernández, managing director of the publishing house Lola Books, and  José Luis de la Fuente O’Connor, Professor at the Polytechnical University of Madrid
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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