The Gower Initiative for Modern Money Studies featured the interview Is Now the Time for a Federal Jobs Guarantee?. For those who do not have Facebook access, here is a link to the interview on SoundCloud.
On this episode Mark talks with economist Pavlina Tcherneva about a policy proposal that’s bubbling under in the US policy debate: the creation of a federal jobs guarantee. Pavlina is an Assistant Professor of Economics at Bard College and author of ‘The Case for a Job Guarantee.’ As Pavlina describes it, a federal jobs guarantee isn’t just a good idea; in the face of our economic, environmental, and epidemiological crises, it may be a necessary one.
The interviewer still doesn’t get MMT even though Pavlina tried to move his misconceptions a few times. It’s not a question of whether or not we have an MMT economy. MMT is just a description of the economy we have. The economy we have is what it is and was, long before MMT came along to explain it.
Despite the interviewer’s inability to understand MMT, this is a good discussion of the Jobs Guarantee. Another failure at the end is the discussion of the cost of the Jobs Guarantee. Pavlina fails to point out that when we pay for employing people, we actually get useful production from that employment.