Discover and read the best of Twitter Threads about #JobGuarantee

Most recents (19)

We need a #GreenNewDeal and #JG. Most people aren't socialpathic. In their jobs, they don't want to work on making the planet unlivable for their children, they don't want to engage in fraud or corruption, they don't want to stand by while their coworkers are harassed and abused.
Most people don't want to build systems of mass surveillance, psychological manipulation, and autonomous weapons. Most people don't want to work on how to exploit others more and more. But fear, fear of unemployment and loss of livelihood gets people to work rapidly on all these.
This fear is real. Whistleblowers are completely destroyed in this system. This is a system of socialpaths, by socialpaths, for socialpaths. With impending climate catastrophe and massive concentration of autonomous means of violence, we need a new system immediately.
Read 19 tweets
If the NFL changed their point values to Field goals=7 points, and touchdowns=3 points, I imagine that teams would immediately stop scoring TD's, and start kicking field goals..when the rules of the game change, you change your strategy to give yourself the best chance to win
1/
Now imagine the rules of the "money game" changed (it shouldn't be hard, they DID change almost 50 years ago). When the convertibility of dollars to gold was removed, it opened up a wide range of possibilities that we still have yet to fully realize ("fully" is being kind)
2/
That doesn't mean there aren't limits, it's just that those limits are NOT what they used to be. The things we can do are no longer constrained by how much "money" or how much of a finite shiny metal we have- they're constrained by REAL things- Land, labor, raw materials etc.
3/
Read 6 tweets
Taxes don’t pay for things.
The govt creates money when it spends & destroys it when it taxes.
There is no money-bin where the taxes go.
People keep spinning this ‘taxpayers money’ BS bcz it’s too mind-blowing to #learnmmt
Our sovereign currency is a blessing we ignore
#ausvotes
The great difficulty #MMT (Modern Monetary Theory) faces is the inertia of old dogma.
MMT explains how sovereign currencies have the ability to build their attendant nation’s communities by investing in people
It’s just a way of paying for things by changing ‘the economic levers’
Most economists still act as if our currency is still tied to the Gold Standard. It’s not but they like to avoid speaking to this reality.
You can imagine them as one would a pre-science ‘man of medicine’.
#learnmmt
Read 13 tweets
I spoke with @worldfinance about #MMT and appreciate how this piece tackled some misconceptions and overlooked aspects.
worldfinance.com/markets/modern…
Some additional points that we didn't get to discuss w/ the author. The article says: the #jobguarantee would be "hugely expensive". On the contrary. The enormous costs of unemployment & poverty is what's "hugely expensive". The #JobGuarantee controls & prevents these costs.
The #JG is anti-cyclical & by design it 'controls' spending on employment to be at the right level. It anchors wages at the bottom-another key anti-inflationary feature
Read 4 tweets
Ten #MMT tips to remember on #TaxDay:
1. Federal #taxes don't fund federal spending, so let's #decouple these two important tools.
2. Taxes offset #Government spending.
3. It's a matter of #logic: #dollars must be spent into existence (by the Gov) first, in order for us to use some of those $ to pay taxes
4. #Taxing for #revenue is for local states/municipalities, not the #sovereign issuer of the #currency.
5. Taxing excessive wealth protects #democracy from #Oligarchy and protects us from abusive market power
6. Taxing #pollution & #speculation to reduce such activities, not to "fund" #healthcare and #education.
Read 6 tweets
[thread]
Several thoughts on Brad DeLong’s mocking comments on the #JobGuarantee:
1. Abba Lerner was clear “functional finance is not priming the pump” (1951). If we wanted tight full employment, he argued, direct job creation in the form of public works may be necessary in order to attain and maintain full employment and price stability.
2. That’s what the #JobGuarantee does. It secures full employment, not by “deficit spending” on “low quality jobs”, but on directly employing the unemployed in public service jobs. Here is the difference:
Read 13 tweets
You're driving and you want to maintain a certain speed. Let's say 55 MPH. Or 80..(hey, you do you) What do you have to do to maintain that speed? Well if you're going UPhill, you have to "spend" more gas to maintain it. And if you're going DOWNhill, you "spend" less gas
1/Thread
But you'd "spend" whatever gas is needed to maintain your target speed. Another approach would be that it's OK to "spend" gas when you're almost stopped, but let off the gas once you're moving so you don't "spend" too much. But that's silly, and you'd probably be pulled over.
2/
If it's obviously silly to drive like that, why isn't it obviously silly for governments to deficit spend like that? A typical Keynesian approach is that deficits are OK when the economy is in recession, but once you're "up to speed" you need to "let off the gas".
3/
Read 4 tweets
This State has always been synonymous with the interests of the English Norman-Westminster/City of London Regime via the issuance, control and taxation of ‘money’ and the violent separation of the people from the natural means of meeting their needs...
..Shaken slightly between 1945-1979: it regained control with the neoliberal project and the systematic proliferation of conservative metaphors. Its Achilles Heel is the obfuscated and inverted fact of Spend and Tax (by Tax to Spend myth) with its supporting toothless bogeymen...
..‘Deficit' and ‘National Debt’. Only awareness of these major MMT insights could subvert this process to be utilised explicitly for the public good - to address the naturally evolved physical, emotional and intellectual needs of us all...
Read 4 tweets
#MustWatch video by #GISPscholar Mathew Forstater honoring the legacy of Dr. Martin Luther King and highlighting his call for a #JobGuarantee to ensure racial justice & economic security

#MLKDay #MLKDay2019 #FullEmployment #EconomicJustice #GreenNewDeal
Additional resources on #MLK and #JobGuarantee: Related Readings:
Forstater, Mathew (2004) "'Jobs for All': A Fitting Tribute to the Rev. Dr. Martin Luther King Jr." cas2.umkc.edu/econ/economics…
Forstater, Mathew (2007) "From Civil Rights to Economic Security: Bayard Rustin and the African American Struggle for Full Employment, 1945-1978" International Journal of Political Economy, Vol. 36, No. 3. cas2.umkc.edu/econ/economics…
Read 6 tweets
My son Jared turns 8 in May. He's a joy. His smile is infectious, he's really good with numbers, he is a great big brother to his two little sisters, he LOVES ketchup, and he also happens to be on the #autism spectrum.
1/THREAD
I can't speak for every parent of a child on the #autism spectrum, but getting through the "now" isn't what scares me. We have an amazing support group of family, teachers, and doctors. We might be tired (It's not "the sun" waking up the roosters, it's MY son), but we get by.
2/
Tomorrow scares me. Between 75-85% of adults w/#autism are unemployed. After years of saying "No" when we would ask him what he wants to be when he grows up, now Jared says he wants to be a postman (And I love it😊). But the odds are NOT in his favor.
3/
the-art-of-autism.com/the-employment…
Read 5 tweets
“The monetary system is a tool to move resources to the government: the government imposes a tax on its citizens, payable only by a token which only comes from the government.”
“In order to get the token (money) to pay the tax, the citizens must work for the government, or must work for someone else who already has the tokens.
A government deficit is when the government spends (gives out tokens) more than it taxes (takes tokens back)”
“The extra tokens that the government gives out but does not take back ends up as savings in private hands.
If private citizens don’t want these extra tokens, then they will try to buy things with them instead of holding on to them.”
Read 6 tweets
Best ideas to beat Trump?
- 70% want #MedicareForAll
- 60% want tuition free public colleges
- 58% want $15 minimum wage
- 72% want to expand Social Security
- 57% want to break up big banks
- 64% want to legalize marijuana
- 65% want a #JobGuarantee
Let's crush it.
(cont'd)
- 81% want a #GreenNewDeal
- 67% want a path to citizenship for aspiring Americans
- 65% oppose spending more on defense
- 63% support Roe v. Wade
- 72% want low-cost prescription drugs from Canada
- 92% want Medicare to negotiate for lower drug prices
Let's get it done
Read 6 tweets
Clarity of vision & purpose [thread] 👇
@Ocasio2018 recognizes that the #GreenNewDeal and federal #JobGuarantee are two distinct but intimately connected goals. Saving the planet goes hand-in-hand with providing economic opportunities & good jobs for ALL.
We need urgent mass mobilization to transition to a Green Future, and it's important to remember that the #JobGuarantee is the only policy that ensures that there will be good jobs for all who want them in this process.
The #JobGuarantee doesn't turn anyone who needs work away. It also establishes a labor standard--a benchmark for wages, benefits, working conditions all employers in the economy must meet.
Read 10 tweets
🌩️ In this (free!) @curaffairs podcast, @rohangrey & I chat with @PeteDDavis about the need for the Left to abandon the “tax & transfer” approach. At ~29:20, I joked that we need to switch to “create & destroy.” We all laughed. It's intense. But I meant it.patreon.com/posts/21854029
I don’t think “tax and transfer” is a liberating lens on most any level. Whether or not you agree with MMT, acting like “money grows on rich people” and we must depend on their funds to offset the spending for a better world is a very restrictive approach to political economy.
When leftists refer to “taxpayer money”-- as opposed to say, “public money” -- we prolong the illusion we all depend on certain people’s economic contributions and not others. It’s atomizing.
Read 23 tweets
Third Way, a group of self-described "moderate Democrats," is stoking fears that the progressive movement will hurt our chances at winning the mid-term and presidential elections. (1/4) nbcnews.com/politics/elect…
Third Way, which consists of many Wall Street bankers and real estate developers, accuses progressives of wanting to end capitalism, while the "moderate Dems" merely want to mend it. This is a gross mischaracterization of the progressive movement. (2/4)
It's the corporate & financial interests who don't want change, while progressives are talking about what Millennials and Working Families want (i.e., #MedicareforAll, #CollegeforAll, #JobGuarantee, #UBI, 100% #RenewableEnergy)...(3/4)
Read 5 tweets
The #JobGuarantee is more than a price stabilizing tool, or a "buffer stock of labor" to keep ready for private sector employers. It IS those things, but more importantly it's a life changing policy that will eliminate involuntary unemployment. And for me it's personal.. 1/
My son Jared turns 7 in a few weeks. He was 3 when he was diagnosed with autism. The official diagnosis wasn't a surprise to me, it was almost like diagnosing my daughter with curly hair. We knew. I WAS surprised however when I heard of the unemployment #'s for autistic adults 2/
"There will be 500,000 adults on the autism spectrum aging into adulthood over the next 10 years. Yet a whopping 85% of college grads affected by autism are unemployed, compared to the national unemployment rate of 4.5%" (2017) 3/
moneyish.com/heart/most-col…
Read 6 tweets
Hello MMT world! This twitter feed is meant to provide opportunities for online MMT activism. We will post articles, YouTube videos, twitter threads, etc., which could benefit from an MMT perspective in the replies, then you can join those discussions. (1/4)
Our purpose: to stamp out myths regarding the monetary and banking system, so that political and economic discussions can truly be informed. (2/4)
Our strategy: get MMT out there to the places these discussions are already being had. Do so in a highly visible and lasting way that maximizes the impact of our time. Engage people in friendly conversation. Win hearts and minds one by one. (3/4)
Read 4 tweets
Almost 20 yrs ago (1999), Randy Wray, @mattybram, @ptcherneva and I brought the Center for Full Employment & Price Stability to #UMKC. For two decades, we hosted conferences, advised policmakers, and published volumes of research on the #JobGuarantee.
Our doctoral program produced dozens of students who wrote their dissertations on some aspect of the #JobGuarantee. People like @FadhelKaboub now run their own Institutes with the #JG at the core.
Point is, we’ve been at this a for a very long time. Sometimes it felt like a losing battle. But here we are today with #JG in the headlines every day.
Read 3 tweets

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