What can people tell their representatives and their neighbors about economics and policy to ensure more fair, more equitable outcomes for all? Featuring Stephanie Kelton, William Mitchell, Warren Mosler, L. Randall Wray.
Mark Paul, “Why We Need a Federal Job Guarantee”: Further, the FJG will have a strong macroeconomic stabilization effect. During economic downturns, it would expand and hire more people; it would then shrink during economic boom periods as people move from public to better-paying private employment. Pavlina R. Tcherneva, a leading voice on the FJG’s macroeconomic effects, argues that policies like the UBI have no counter-cyclical features. Thus, when the economy takes a downturn — say as it did in 2007 — basic incomes provide no automatic stabilizers to right the sinking ship.