Friday, May 25, 2018

Pavlina Tcherneva — The Job Guarantee and the Economics of Fear: A Response to Robert Samuelson

The Job Guarantee is finally getting the public debate it deserves and criticism is expected. Building on several decades of research, the Levy Institute’s latest proposal analyzes the program’s economic impact and advances a blueprint for its implementation. Critics have taken note and are (thus far) restating the usual concerns, but with a notably alarmist tone....
The usual shills for capital contra labor.

Multiplier Effect
The Job Guarantee and the Economics of Fear: A Response to Robert Samuelson
Pavlina Tcherneva | Assistant Professor of Economics at Bard College, Research Scholar at The Levy Economics Institute, and Senior Research Associate at the Center for Full Employment and Price Stability

8 comments:

Andrew Anderson said...

The usual shills for capital contra labor. Tom Hickey

What labor will remain for humans by the 22th Century? And then won't your beloved JG be seen as a mockery of labor, justice, and human dignity? And not their savior?

Advocate for justice, Tom, and your advocacy won't become ridiculously obsolete.

Or not. Justice is coming with or without your cooperation.

Tom Hickey said...

Actually, if the need for wage labor is minimized, the mode of production will have changed radically, and new relations of production will come about. This would signal the end of capitalism and the onset of the next economic system, whatever that might look like. That's not foreseeable since it is emergent in a complex adaptive system.

Andrew Anderson said...

This would signal the end of capitalism and the onset of the next economic system,... Tom Hickey

Actually, if the world doesn't repent soon there are quite a few ways these could be the End Times. And somehow, I don't believe repentance involves:
1) Perpetuating privileges for a usury cartel.
2) Requiring the victims of that cartel to work (or waste their time) for restitution.

Calgacus said...

Andrew Anderson, justice is the main reason for the Job Guarantee. Speaking about justice is not the same as acting justly. One part of the latter is giving other ideas fair hearings, hearings as fair as one's own ideas have been given.

What labor will remain for humans by the 22th Century?

(a) Whatever labor will remain, it will still be absurd and unjust to simultaneously demand labor from people and refuse their offer of labor. That is what a monetary economy does without a JG.

(b)This is the 21st century, not the 22nd.

Matt Franko said...

“there are quite a few ways these could be the End Times. ”

LOL!!

Andrew Anderson said...

"LOL!!" Franko

And He was also saying to the crowds, “When you see a cloud rising in the west, immediately you say, ‘A shower is coming,’ and so it turns out. And when you see a south wind blowing, you say, ‘It will be a hot day,’ and it turns out that way. You hypocrites! You know how to analyze the appearance of the earth and the sky, but why do you not analyze this present time?

And why do you not even on your own initiative judge what is right? For while you are going with your opponent to appear before the magistrate, on your way there make an effort to settle with him, so that he may not drag you before the judge, and the judge turn you over to the officer, and the officer throw you into prison. I say to you, you will not get out of there until you have paid the very last cent.”
Luke 12:54-59 New American Standard Bible (NASB)

Matt Franko said...

Yo we’re not Israelites... at least I am not...

Romans 1:

“For whenever they of the nations that have no law, by nature may be doing that which the law demands, these, having no law, are a law to themselves,
15 who are displaying the action of the law written in their hearts, their conscience testifying together and their reckonings between one another, accusing or defending them”

We have our own authority and laws thanks...... imposed thru our institutions of civil government...

Matt Franko said...

“And why do you not even on your own initiative judge what is right?“

They were a people selected by God as descendants of a guy who would literally kill his own son if they thought they would get another sheep out of it or access to another acre of land... they’d sell their own mothers....

They were not the A-Team....