Cheat sheet on the MMT JG. Useful reference.
Pavlina Tcherneva
Frequently Asked Questions About the Job Guarantee
Pavlina Tcherneva | Associate Professor of Economics at Bard College, Research Scholar at The Levy Economics Institute, and Senior Research Associate at the Center for Full Employment and Price Stability
8 comments:
How do TPTB derail the discussion away from the JG?
We’re at maximum employment so this is a hard sell right now…
Only way to arrive at maximum employment is through a job guarantee...
J Powell told Rubenstein last week that we’re by any reasonable estimation at max employment right now
Where is the wage inflation?
Where is the labour force participation rate?
Where are undocumented migrants finding employment?
The JG is an alternative stabilisation policy that *replaces* interest rate adjustments to deliver inflation targeting.
Getting rid of interest rate changes prevents high mortgage rates and allows the construction industry to plan long term.
But rich people with bond investments are far more important than wages and houses for ordinary folk.
Conspiracy theories …
They are increasing the rate to get rid of their figure of speech inflation…
This is textbook monetarist 101…
A legitimate question would be: why they are not increasing the rate of QT?
This is a legitimate question…. No conspiracy theories..,
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