"jobs guarantee"

"The People's Money": A crisp, simple, thorough explanation of how government spending is paid for

Modern Monetary Theory is an economic paradigm that treats money as a utility that governments issue and tax in order to mobilize resources needed to provide the services that the public wants; it explains why some kinds of government spending leads to inflation while other kinds do not, and how sovereign states use different levers to control inflation, even when they're spending extraordinary sums, as in WWII. Read the rest

Washington establishment freaks out as Modern Monetary Theory gains currency

Modern Monetary Theory (previously) is an economic philosophy based on the idea that all state spending is "deficit" spending, since money comes into existence when the government spends it, and when the government raises taxes, it does so in order to take that money out of existence, both in order to control inflation and to limit the concentration of power in the hands of the wealthy. Read the rest

In 1943, the chairman of the NY Fed backed Modern Monetary Theory: "Taxes for Revenue Are Obsolete"

Modern Monetary Theory is the latest incarnation of chartalism, the economic theory that holds that government spending -- and a federal jobs guarantee -- doesn't create inflation, so long as the spending is on things that the private sector isn't buying: if a factory can produce ten widgets but is only producing five because that's all the public sector wants to buy, the government can put in an order for five more widgets, putting more workers to work, without driving up the price of widgets. Read the rest

Canada's housing market is slowly but surely imploding, and Canadians are more exposed than the US was in 2008

After 20 years of unprecedented lows, Canada's central bank is gradually raising rates; this, combined with strict rules on new loans, empty house taxes in overheated cities like Vancouver, and mandatory ownership disclosures (which keep money launderers out of the market) are depressing the Canadian housing market, and the prognosis is not good. Read the rest

Universal basic income vs jobs guarantees: which one will make us happier?

Two competing (or, possibly, complementary?) proposals for resolving income inequality and the hole that four decades of demand-side Reaganomics has dug us into are Universal Basic Income and a federal jobs guarantee (the former being a kind of "venture capital for everyone" that provides enough money to live without having to work for an employer; and the latter being a guarantee of a good, meaningful job of social value in sectors like infrastructure, education and caring professions). Read the rest

Alexandria Ocasio-Cortez's campaign video team just made a killer ad for a Hawai'ian Democratic Socialist

Alexandria Ocasio-Cortez (previously) stunned the Democratic establishment when she comprehensively kicked the ass of finance-friendly, seemingly untouchable Democrat-in-name-only incumbent Joe Crowley in a New York City primary race that she won on a Democratic Socialist platform of abolishing ICE, Medicare for all, a jobs guarantee, a housing guarantee, gun control, relief for Puerto Rico, and gun control. Read the rest

New York primaries: Democrats' finance-affiliated fundraising superstar got his ass kicked by a young woman with a Democratic Socialist platform

Rep. Joe Crowley has been in Congress since 1999; he's the number four Dem in the House, representing a diverse district in the Bronx, and winning primaries in a solidly Democratic district by raising millions from his friends in the finance industry. Read the rest

Bernie Sanders' New Deal: ending involuntary unemployment with guaranteed $15/hour infrastructure jobs

Bernie Sanders has a plan to solve America's wage stagnation and its long-neglected infrastructure: tax the super-rich and massively profitable corporations, then use the money to fix the multi-trillion-dollar infrastructure overhand left behind by decades of neglect, and hire Americans at $15/hour, plus full healthcare, to do the work. Read the rest

Modern Monetary Theory: the economic basis for expanded social spending and greater shared prosperity

The last 40 years has seen a steady rise of deficit-hawking, in which the world's postwar social safety nets are shredded because the state "can't afford" them -- think of all the times you've heard of national debt being money that "the taxpayers" will have to pay back, and misleading comparisons between sovereign governments (who print their own money) to households and businesses (who don't), as though sovereign state finance was just a scaled-up version of balancing the family check-book. Read the rest

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