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stagnation

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Five, John Carney on the Mismatch Problem and the Distribution of Labor

Parts One, Two, Three,and Four

In the first four parts of this series, I analyzed views on the Job Guarantee (JG) idea offered by Cullen Roche and Peter Cooper in conjunction with a post by John Carney, which kicked off an explosion of blogosphere posts and commentaries on the JG. In Part Three I began an analysis of John Carney's views by taking exception to his claims that the JG would be inflationary, a bureaucratic nightmare, and would cause economic stagnations. In Part Four, I critiqued his views on the problem of a mismatch between demand and the skills needed to fulfill it, the possible inflationary impact of this mismatch, and also his claims on the JG and stagnation.

In this post, I continue analyzing John's further take on the JG in in his 'The Trouble with a Job Guarantee. His reasoning in this post, focuses on the problem of a mismatch between demand and the skills needed to fulfill it, the possible inflationary impact of this mismatch, and also amplifies his claims on the JG and stagnation. My interleaved replies from an MMT perspective to his assertions and arguments are provided in this and an upcoming post, as well as in Part Four. All my replies assume that the JG would not be “paid for,” but would occur through deficit spending. Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Four, John Carney on the Mismatch Problem and Hayek's Theory

Parts One, Two, and Three.

In the first three parts of this series, I analyzed views on the Job Guarantee (JG) idea offered by Cullen Roche and Peter Cooper in conjunction with a post by John Carney, which kicked off an explosion of blogosphere posts and commentaries on the JG. In Part Three I began an analysis of John Carney's views by taking exception to his claims that the JG would be inflationary, a bureaucratic nightmare, and would cause economic stagnations

In this post, I'll begin analyzing John's further take on the JG in a second post of his. His reasoning in this post, focuses on the problem of a mismatch between demand and the skills needed to fulfill it, the possible inflationary impact of this mismatch, and also amplifies his claims on the JG and stagnation. My interleaved replies from an MMT perspective to his assertions and arguments are provided in this and upcoming posts. All my replies assume that the JG would not be “paid for,” but would occur through deficit spending. Read below the fold...

letsgetitdone's picture

Loose Talk and Numbskull Notions At the Podesta/Holtz-Eakin Debate: Part Two

Thread: 

This is Part Two of a critical review of The National Journal's Debate on "Our Fiscal Future" between John Podesta and Douglas Holtz-Eakin with Jim Tankersley moderating, at The George Washington University's Jack Morton Auditorium. This part provides more observations and evaluation on some of the propositions offered by Holtz-Eakin and Podesta.

H-E: Eliminating tax cuts for the rich will cost 1.5% to 2% GDP annually. Read below the fold...

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