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Price Stability

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(MMT - JG) + Medicare for All Not = MMT


In my last post, I discussed the first part of Beowulf's post entitled: “(MMT - JG) + Medicare for All = MMT,” and also some dialogues between Jamie Galbraith and both TomThumb and Beowulf related to the MMT Job Guarantee at one of FiredogLake's Book Salon's featuring Jamie's n Read below the fold...

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Dialogues with Jamie Galbraith and the MMT Job Guarantee

A few days ago my friend Beowulf decided to exercise his wry sense of humor with this title of a post he offered for our consideration: “(MMT - JG) + Medicare for All = MMT.” Beo then goes on to talk about some details of a comment exchange with Jamie Galbraith at one of FiredogLak Read below the fold...

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Alternative Fiscal Policies: Why the Job Guarantee is Superior (Wonkish)


Pavlina Tcherneva

A few weeks ago I called for a technocratic debate on the merits of the JG, relative to other fiscal policies. A number of bloggers took the charge but the debate was not immune to ideological biases, which proved the starting point of my piece that one cannot separate fact from theory or ideology (and by ideology I do not mean the derogatory use of the word, but that which signifies ‘ontology’ or a ‘world view’). What I didn’t expect is for friends and sympathizers to resurrect one particularly invidious charge we have long heard from MMT deniers, namely that MMT is pushing authoritarian policies.

Oh, boy. How did we even get here? I thought this was going to be a technocratic debate. Read below the fold...

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That's Not All!


After opposing the Job Guarantee proposal as part of the broader MMT policy program in service of the goals of public purpose, full employment with a living wage and price stability, and for many weeks now, combining with Mike Sankowski and Carlos Mucha to found “Monetary Realism” and also saying: Read below the fold...

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The Job Guarantee and the MMT Core: Part Fifteen, Components of the Knowledge Claim Network

In this post I'll list the primary components of the MMT Knowledge Claim Network (KCN) classified under the major categories: the Social/Value Gaps; the Knowledge Gaps (Problems); the Descriptive Components (including Solutions); the Policy Prescriptions; and the Narratives.

The Social/Value Gaps mentioned by MMT developers

-- Failure of Economics to contribute to the Public Purpose as defined by the failure to close the other social value gaps listed below;

-- the gap between actual output and projected “full” output;

-- High involuntary unemployment vs. full employment;

Read below the fold...
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The Job Guarantee and the MMT Core: Part Fourteen, MMT Is A Holistic Knowledge Claim Network


The recent extensive blogosphere discussion on the JG and the MMT core began with a post by John Carney that stated his opposition to the Modern Monetary Theory (MMT) Job Guarantee proposal and claimed it either wasn't an essential component of MMT, or that if it was, then MMT was wrong. Cullen Roche, a well-known popularizer of MMT at his Pragmatic Capitalism blog then asserted: Read below the fold...

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The Job Guarantee and the MMT Core: Part Thirteen, John Carney Is Full of Talking Points and That's Polite

In a piece called “More Questions About the Job Guarantee,” John Carney provides some links to the continuing debate on the Job Guarantee (JG). All the links are to posts critical of the JG idea except a link to one of my four posts critical of Carney's earlier work and supportive of the JG. Read below the fold...

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Reality Check Plus

After reviewing the terrible state of our economy and the need to reconstruct it so that people can find work and a vibrant middle class can be rebuilt. Bob Borosage suggests that Congress go back to first principles. he briefly reviews the post- WWII history of employment legislation and says: Read below the fold...

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