I’ve been thinking about the job guarantee as it is envisaged by proponents of Modern Monetary Theory (MMT). My focus has been on various quantity effects of the policy that can be considered using the standard income-expenditure model as a…
A recent post considered one way of including a job guarantee in the income-expenditure model. Doing so makes it possible to represent various macro effects of a job guarantee within the model. An obvious effect is that the program would…
Under a job guarantee, there would be a standing job offer at a living wage for anyone who wanted such a position. Anyone without employment in the broader economy, or unhappy with their present employment, could opt for a position…
Two policy proposals receiving increasing attention are the job guarantee (JG) and basic income guarantee (BIG). The first would provide everyone of working age with the option of a guaranteed job. The second would introduce an unconditional income payment. To…
The notion of tax-driven money is easiest to understand in relation to an exogenous tax such as a property tax or simple head tax. Demand for a state money is most effectively driven by exogenous taxes, not endogenous ones such…
In the previous post, it was suggested that the unearned income of landlords, rentiers and capitalists should really be the equal entitlement of all citizens. Such an equal entitlement could, in part, take the form of basic income or a…
It is sometimes argued that a basic income guarantee (BIG) would be unfair because it requires no reciprocation from the recipient. If we are to hold to a principle of reciprocity, it might be worth briefly considering how the principle…
Recent posts have considered one or other of Kalecki, the job guarantee and the possibility of transitioning over time to socialism. There is a connection between these topics that has only been touched on in passing in earlier posts. The…
The previous post considered the question of how best to assist a transition to a society in which people can opt for more free time, if they wish. The likelihood of a high degree of mechanization in production in coming…
One issue that arises, when thinking about the possibility of a transition to a freer society, is the challenge of adjusting to a future in which there might be far less compulsion to work in the formal economy and an…
