@marianisoehartono @peterrelph

International Trade:

I am not speaking of it, I know nothing of it.

What I am speaking of is an #MMT understanding of how money works & doesn't work, not any implementation of it or any policy or protocol, it is not something that is implemented. One thing that it emphatically does _not_ suggest is unlimited spending, that is merely a brick wall raised by those defending themselves against it, a straw man.

The one obvious thing that some people consider intrinsic or at least strongly suggested by it might be the federally funded, locally operated #jobguarantee.

#economics

Book: Let There Be Money
https://a.co/d/bSjRyjA

#MMT #UBI #JobGuarantee

@dallas @bri_seven @aby
Agreed. The CES was far from perfect, but John Howard showed that the private sector could be worse. That's a pretty consistent pattern, now that I think of it.

I'd define "job" as something that's meaningful to the worker. We don't want a job guarantee turning into another "mutual obligation".

If necessary, help people decide what they want to do. Maybe offer guidance on what they might be good at or interested in.
#Auspol #JobGuarantee

what the #JobGuarantee -
does -
is to #discipline -
the market -
on how to be -
#disciplined -
#micropoem

@DrALJONES @Audr3y
It is of value to raise the topic of the #JobGuarantee, but as you said, unfortunate that she didn't correct the questioner about "welfare" & #JG.
She has her agenda & has grabbed the concept of a JG for that purpose.

@czottmann

Same for me and in my experience and technically speaking EU is a regime.

About this:

And I agree with the EU as a concept, an ideal.

The EU is not an ideal though, the ideal is cooperation between European countries, I guess.

You have rightly criticized capitalism. But if you are really interested in changing things, you realize that to implement welfare state policies you need to change the monetary policy of the ECB.

This is not technically possible with the European elections. It must be done with national governments and they must all agree. Countries like Germany that profit from the current situation at the expense of other countries must also agree.

What I’m telling you is that the EU is technically defending capitalism. And the situation can be unblocked only in two ways: with the unanimity of the nations or by remaking the EU from scratch.

The question I am asking you is not ideological, it is technical. My point is that the EU is fostering competition between nations, allowing the stronger to exploit the weaker and preventing nations from pursuing the welfare state with policies such as #JobGuarantee, #FreeHealthcare and #FreeEducation. The EU is exactly the opposite of the ideal of cooperation between nations that you profess.

Please don’t respond with inconsistent rhetoric. Read about what I have mentioned and think about it.

Post 2 of gawd knows how many.

If you need a clue as to the implications, consider unemployment.

Unemployed, potential & willing labour, people, workers, are obviously a drain on the economy.

The above mentioned government has the power & the financial means, to employ anyone who seeks employment in the mainstream (government) economy. Until every involuntarily unemployed worker is employed then their employment cannot influence inflation negatively.

A scheme by the Modern Money people, #JobGuarantee, resulting from the economics revealed by the #MMT people, Bill Mitchell, Stephen Hail, Stephanie Kelton etc etc realisations, demonstrates that a National or Federal Government as described in the preceding post can afford to employ people, managed at a local government level on normal national condition & a living wage.

Such a scheme would not only give dignity to people currently politically deliberately deprived of it, but give obvious economic benefits for them & their dependents & their local economy, but also set a de facto minimum wage for the entire economy. On a macroeconomic scale it would also smooth out the otherwise inevitable capitalist 'business cycle', employing people when the private sector cannot afford them, & providing a source of employed & therefore employable people when the economy turns up & they can afford them again.
This scheme would be backed by a Basic Income payment for eligible people who chose not to participate in it for any reason.

http://www.jobguarantee.org/

https://independentaustralia.net/politics/politics-display/the-job-guarantee--a-job-for-every-australian-within-a-year

@drewdevault @skyfaller

Just make people aware of #ModernMonetaryTheory and use that for #JobGuarantee , #FreeHealthcare , #FreeEducation and #FreeSoftware for almost everything.

After record deficits during Covid19, it is clear that #MMT is correct and it is an opportunity to abandon macroeconomic dogmas once and for all.

@arnicas

More than ever we need #ModernMonetaryTheory and #JobGuarantee

@MarkRuffalo

Don't forget that #MartinLutherKing was the first proponent of #JobGuarantee. Today the true way to honor him is to study #ModernMonetaryTheory and make his dream a reality.

@mark

Agree with all you say.

Guess you also know about fed govts' currency-issuing power?

How Roosevelt used it to fund the New Deal, & UK, the welfare state. And how right now, it could fund:

* a #GreenNewDeal with #JobGuarantee & #LiveableWelfare

* free public transport, health & education

* sufficient public housing etc?

But, as you say, feds don't want to fund public goods. Poverty is govt policy.

https://inv.riverside.rocks/watch?v=uEqucQNLIko

#USPol #AusPol #UKPol #CdnPoli

@rcbevans @dbates
You’re right. And sadly, we are at a point where artists (and many others) are left to struggle without support as tech revolutionizes our lives. It’s particularly tricky with artists, who (to my mind) are essential to our survival. Quite apart from this particular crisis of AI, we need to develop a #JobGuarantee kind of solution for artists. I believe the #GreenNewDeal contemplates that.

@lukaslehner @newyorker @maxkasy
I’m so glad I came across this link before my subscription to The New Yorker runs out (in 2 days)! It is an excellent intro to the #jobGuarantee concept. I particularly appreciated the author linking pernicious unemployment to the economic despair and political extremism of recent times and providing a possible solution that sounds like a “win win”.

#econtwitter what does everyone think of a #jobguarantee?

What happens when jobs are guaranteed?

The @newyorker feature story covers our evaluation of the #Marienthal #JobGuarantee (joint with @maxkasy) In our new working paper, we find

1) ↘️ unemployment
2) ↗️ incomes
3) ↗️ wellbeing

The New Yorker article:
https://www.newyorker.com/news/annals-of-inquiry/what-happens-when-jobs-are-guaranteed

Working Paper:
https://maxkasy.github.io/home/files/papers/Jobguarantee_marienthal.pdf

@changeling @raphaelmorgan

I take your point, changeling.

All I'm saying is that evidence must take precedence when weighing up alternatives... no more than that.

Specific details of programs must be malleable.

Imo, a program that includes fed #JobGuarantee (including liveable welfare) ticks boxes that #UBI can't.

If ppl want to grasp the argument, there's no alternative than to listen to the ppl putting it.

eg, Pavlina Tcherneva: https://www.youtube.com/watch?v=zzqVCiUw7L4

AusPol #UKPol #USPol #CaPol

What happens when anyone who wants a decent job can get one? #UTDDelo #JobGuarantee https://www.newyorker.com/news/annals-of-inquiry/what-happens-when-jobs-are-guaranteed

@raphaelmorgan

Yes, Morgan, that's exactly what Job-Guarantee programs do.

Under JG programs, creative, etc. work count as jobs; also incl LIVEABLE welfare for non-workers.

Oligarchs hate #JobGuarantee bcz it offers PROPERLY paid jobs, good conditions, childcare, etc. for all who want them.

Whereas UBI (minimal $) goes to e'one, incl the filthy rich.

Recent trial
https://www.
msn.com/en-gb/news/uknews/worl

https://gimms.org.uk/fact-sheets/universal-basic-income/

https://www.youtube.com/watch?v=zzqVCiUw7L4

AusPol #UKPol #USPol

@staringatclouds @AmerLiberal

Agree.... which is why oligarchs love #UBI.

Oligarchs hate #JobGuarantee programs bcz they offer PROPERLY paid jobs, good conditions, childcare, etc. for all who want them (including creative work); also LIVEABLE welfare for non-workers.

Whereas UBI (minimal $) goes to e'one, incl the filthy rich.

Pavlina Tcherneva: https://www.youtube.com/watch?v=zzqVCiUw7L4 & book

Trial: https://www.
msn.com/en-gb/news/uknews/worl

https://gimms.org.uk/fact-sheets/universal-basic-income/

AusPol #UKPol #USPol #CaPol

@mikehinford

Oligarchs love UBI.

They hate #JobGuarantee bcz it offers PROPERLY paid jobs, good conditions, childcare, etc. for all who want them.

Under JG programs, creative work can count as a job. Also include LIVEABLE welfare for non-workers.

Whereas UBI (minimal $) goes to e'one, incl the filthy rich.

P. Tcherneva:
https://www.youtube.com/watch?v=zzqVCiUw7L4
and book The Case for a Job Guarantee

https://www.
msn.com/en-gb/news/uknews/worl

https://gimms.org.uk/fact-sheets/universal-basic-income/

AusPol #UKPol #USPol #CaPol #NZPol