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The Job Guarantee and Modern Money Theory

Realizing Keynes’s Labor Standard
 eBook
Sofort lieferbar | Lieferzeit:3-5 Tage I
ISBN-13:
9783319464428
Einband:
eBook
Seiten:
228
Autor:
Michael J. Murray
Serie:
Binzagr Institute for Sustainable Prosperity
eBook Typ:
PDF
eBook Format:
eBook
Kopierschutz:
Adobe DRM [Hard-DRM]
Sprache:
Englisch
Beschreibung:

The contributors to this edited collection argue that a flexible Job Guarantee program able to react to an economy’s fluctuating need for work would stabilize the labor standard, the value of employment in relation to money. During economic downturns, the program would expand to provide more public sector jobs in response to private sector layoffs. It would then contract when economic growth offered private sector employment opportunities. This flexible full employment program would create a balanced, perpetually active labor force, providing the macroeconomic stability necessary to define a functioning labor standard.





Just as the gold standard measured the worth of money against gold reserves, John Maynard Keynes argued, so a labor standard ought to measure the value of money in terms of its labor equivalent. However, he failed to account for the fact that, unlike a gold standard, a labor standard does not have any kind of surety that money will continue to match its value in paid work over time. Together, the contributors argue that full employment would provide this missing security and allow authorities to define the value equivalencies of money and labor, the way that money once represented its exact equivalent in gold.











1. Goal-Oriented Taxation: A Brief Discussion of the Living-Space Tax; Scott L.B. McConnell




2. Public Policy for Working People; Michael J. Murray


3. The Job Guarantee: A Superior Buffer Stock Option for Government Price Stabilization; William Mitchell




4. The Employer of Last Resort for a Capital-Poor Economy; Edward J. Nell




5. The Job Guarantee and Eurozone Stabilization; Timothy P. Sharpe, Martin J. Watts, James Juniper




6. How to Fight Unemployment with the Minsky Alternative in Italy and in the EU; Giuseppe Mastromatteo, Lorenzo Esposito


7. Paltamo Full Employment Experiment in Finland: A Neo-chartalist Job Guarantee Pilot Program?; Antti Alaja and Jouko Kajanoja


8. Financial Sovereignty and the Possibility of Full Employment in Saudi Arabia; Fadhel Kaboub


9. Who Owns the Intellectual Fruits of Job Guarantee Labor?; Rohan Grey






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