Monday, November 20, 2017

Neil Wilson — Thoughts about the Job Guarantee: A Reply

A response to the Nov 17 thoughts of Simon Wren-Lewis
Simon Wren-Lewis has put up a very considered post on the Job Guarantee which deserves an appropriate response. I have been calling for Simon to write about the Job Guarantee for a very long time, and I’m grateful he has done so. It is a very good piece from an alternative point of view and I hope I can do it justice in this reply.
Modern Money Matters
Thoughts about the Job Guarantee: A Reply
Neil Wilson

1 comment:

AXEC / E.K-H said...

Some fatal flaws of MMT
Comment on Simon Wren-Lewis on ‘Some thoughts about the Job Guarantee’

Simon Wren-Lewis summarizes: “But I am also fed up with policy makers implementing bad policies just because they sound good to those policy makers, so I want to subject any policy I intuitively like to rigorous analysis.”

Rigorous analysis of MMT shows the following
• MMT is based on Keynesian macro which is provably false since 80+ years,#1
• MMT profit theory is false,#2
• MMT employment theory is false.#3

False theory leads to false policy guidance.#4 MMT policy guidance has no sound scientific foundations. MMT policy proposals are social on the surface but in essence a wellness program for the one-percenters.#5, #6

Egmont Kakarot-Handtke

#1 How Keynes got macro wrong and Allais got it right

#2 Rectification of MMT macro accounting

#3 Full employment through the price mechanism

#4 MMT: The one deadly error/fraud of Warren Mosler

#5 MMT and the promotion of Wall Street socialism

#6 For details of the big picture see cross-references MMT