Deficit Owls | MMT: A Job Guarantee Promotes Full Employment AND Price Stability @deficitowls5296 | Uploaded August 2016 | Updated October 2024, 1 hour ago.
Professor Pavlina Tcherneva discussing the macroeconomic effects of a Job Guarantee policy. A Job Guarantee would be a voluntary offer of employment to anybody who is ready, willing, and able to work. By setting a fixed wage but allowing the quantity of labor to "float," it creates a powerful counter-cyclical spending force. By fixing the price of unskilled labor, it not only sets a true minimum wage floor, but also promotes price stability as a whole (fighting inflation and deflation) because almost all products depend on unskilled labor, and this would permanently fix part of that cost.
It would also promote reduced inequality, by lifting up the unemployed (which are disproportionately from disadvantaged groups).
See the whole video here: youtube.com/watch?v=RI2tPtnnnsI&list=PLKvPLZsgEcXSbdqMUTc-4usIO-9f0xBlc&index=9
Professor Pavlina Tcherneva discussing the macroeconomic effects of a Job Guarantee policy. A Job Guarantee would be a voluntary offer of employment to anybody who is ready, willing, and able to work. By setting a fixed wage but allowing the quantity of labor to "float," it creates a powerful counter-cyclical spending force. By fixing the price of unskilled labor, it not only sets a true minimum wage floor, but also promotes price stability as a whole (fighting inflation and deflation) because almost all products depend on unskilled labor, and this would permanently fix part of that cost.
It would also promote reduced inequality, by lifting up the unemployed (which are disproportionately from disadvantaged groups).
See the whole video here: youtube.com/watch?v=RI2tPtnnnsI&list=PLKvPLZsgEcXSbdqMUTc-4usIO-9f0xBlc&index=9
