It’s Always a Good Time to ‘Blow Up’ the Deficit; Just Not How The Republican Party ‘Blows Up’ The Deficit

Since we had some technical difficulties last night – apparently, the Russians hacked us – we didn’t have time to address one of the main points to understanding deficit spending: You need a target for it to be immediately effective. So, let us address this topic presently. We recall from last night’s discussion on Real[…]

The Job Guarantee – Understanding Fundamental Concepts

Many public discussions among progressives entirely miss the point of the JG. It’s normal, but at the same time, the lack of firm understanding is detrimental to the JG, and to progress. So, with that, let me try to clarify a few things. In the first instance, progressives inevitably discuss the consequences for skilled/educated workers.[…]

The “Bite-Sized” Explanation of The Job Guarantee as an Automatic Stabilizer

The national government funds the Job Guarantee through deficit spending. The Job Guarantee creates a pool of employed workers outside of the private sector which the private sector can hire from at any time. When the economy is doing well, demand for more goods and services pressures business to increase production. To do that, business[…]

The “Bite-Sized” Explanation of The Phillips Curve and the Job Guarantee

The Phillips Curve: The private sector is nearing actual full employment. Wage price pressures are threatening an inflationary episode. The national government manipulates its fiscal or monetary policy, reducing aggregate demand and thus, reducing inflationary pressures, throwing workers into a state of involuntary unemployment. The Job Guarantee: The private sector is nearing actual full employment.[…]

Republican Mayor Introduces a Job Guarantee. One Year Later Sees Success – No Surprise There

As many of you know, I’m a strong proponent for the initiation of a federal Job Guarantee and speak of the initiative frequently on social media, particularly Twitter where I have held live discussions on the topic. The Hunter Keane Institute, for which I will now be writing policy notes, papers and doing research, was[…]

Universal Basic Income: An Economic “Destabilizer”

As an addendum to yesterday’s article concerning the Job Guarantee versus the UBI, I’d like to clarify a couple of points concerning the inflationary aspects of a UBI and its inability to discipline inflation. In yesterday’s article I chose to address the potential wage-price spiral effects caused by a UBI, because the point that all[…]