tag:blogger.com,1999:blog-2761684730989137546.post251327983082978764..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Ellis Winningham — MMT and Modern Macroeconomics On the Reason Why a Job Guarantee is Rejected in Favor of a Standalone Basic Income Guaranteemike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2761684730989137546.post-48287789663292602002016-12-13T10:54:49.269-05:002016-12-13T10:54:49.269-05:00Ellis is about right here.
The 'Basic Income ...Ellis is about right here.<br /><br />The 'Basic Income Guarantee' is actually just a stipend paid to the middle class so they can buy more shoes or something. It has nothing to do with helping the poor or anything else. <br /><br />It is what the financial system wants because it can no longer issue credit cards to individuals. Instead it wants to federal system to do the borrowing and just give money to people to keep the current merry-go-round going. Preferably directly from the central bank so no politicians get involved and ask awkward normative questions. <br /><br />It will of course collapse as all income guarantees do, because it ends up paying some people twice. And eventually they agitate to have it removed. NeilWhttps://www.blogger.com/profile/11565959939525324309noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-47547398224157195762016-12-09T23:57:15.023-05:002016-12-09T23:57:15.023-05:00The idea of labor peg = JG & the comparison to...The idea of labor peg = JG & the comparison to a gold peg is basic MMT, it's in Wray's 1998 book for example. He is if anything too kind to the BIG - it is essentially never a progressive idea, always is just another welfare program for billionaires which for the umpteenth time is why so many of them like it. Since it is extremely inflationary banana Republicanism, they can then say - look we tried to "help" the helots - but it offended the natural order, so we had better go back to unadulterated capitalism.Calgacushttps://www.blogger.com/profile/06031818010224747000noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-9879668749142762092016-12-09T21:13:57.398-05:002016-12-09T21:13:57.398-05:00Put me down for the BIG ...Put me down for the BIG ...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-18971391712456224952016-12-09T16:29:31.999-05:002016-12-09T16:29:31.999-05:00Winningham doing the important job of engaging peo...<br />Winningham doing the important job of engaging people that want to learn about MMT. There is really no one else that does what he is doing anymore that I know of.<br /> <br />All the honchos that used to engage and probably taught most of us what we know, have moved on to greener pastures which is what I was referring. They aren't around anymore.<br /><br />Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-46972610285788095762016-12-09T15:23:31.559-05:002016-12-09T15:23:31.559-05:00I have a huge respect for "MMT thought leader...I have a huge respect for "MMT thought leaders". But Ellis Winningham's stuff is not normal MMT stuff. It's just bizarre.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36864182508273983982016-12-09T12:13:55.225-05:002016-12-09T12:13:55.225-05:00There is no reasoning with the MMT thought leaders...There is no reasoning with the MMT thought leaders, Ralph. They are pretty certain their policies are flawless and above criticism or modification, as-presented.Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-73075340633183359042016-12-09T11:31:21.935-05:002016-12-09T11:31:21.935-05:00Had a quick look at Ellis Winningham's article...Had a quick look at Ellis Winningham's article and his "peg" idea. I'm not tempted to look in any more detail. Looks to me like nonsense. Or perhaps I've missed something.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.com