Discover and read the best of Twitter Threads about #jobguarantee

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#MMTweet Weekly Review!
Political will is King, so how do we wrestle back the reigns in this country? Start with blasting neoliberal lies about the economy via #MMTruth, water the grassroots we need to win, by nurturing and growing, to keep the pressure where it belongs! The 1%!
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Research Director at @GISP_Tweets & University of Kansas City, Professor Mathew Forstater explains the #GreenNewDeal and what it means for our lives and the economy.
How does the #JobGuarantee fit in with proposals to transition the global economy onto a greener path?
What is green provisioning? What are the changes necessary to sustain critical industries? How can all nations benefit from the development of new technologies?
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💵) How many times do you need telling?
It's exactly the same in the UK. The government cannot run out of money! Tell the people about Modern Monetary Theory and change the world!! #MMT #LearnMMT #JobGuarantee #GreenNewDeal
💷💷) The UK government is *not* short of money!
And they do *not* need 'taxpayers' money' to spend!!
💷💵💷) And they do *not* need to borrow!
The UK government can create as much money as necessary to ensure full employment and that everyone's normal needs are met!! They just choose not to do so!!!
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I can't express how grateful I am to @AyannaPressley for her leadership on full employment. The #JobGuarantee has was a central demand of FDR and New Deal Dems along with Civil Rights leaders. It's time to to make the the dream of MLK, FDR, Scott King, and others a reality. 🧵 1/
Full employment has a rich history here in the US. In fact, it was a cornerstone of the Dem party platform from 1944-1988. The country's first experiment w/ direct employment came in the cold harsh winter of 1933-34 w/ the Civil Works Administration. 2/
With two months of creating the program Harry Hopkins, a trained social worker, and FDR employed *4 million* workers through the CWA. That was nearly 1-in-10 Americans employed at prevailing wages. 3/
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@AyannaPressley Unveils Historic Federal Job Guarantee Resolution.…
The resolution draws on historical Civil Rights leaders like Coretta Scott King & economists like Sadie Alexander, & is supported by a wide coalition including @policylink, @NatlJobsForAll, @thepublicmoney, @SEIU, @sunrisemvmt, @CPDAction, @ACREcampaigns, @ourmoneyus, @NelpNews
@AyannaPressley: “It’s time to establish a legal right to a job for all people in America. For years, we have legislated hate, harm & injustice ... It’s long past time to pursue bold, intentional policies that affirm equity & recognize the dignity & humanity of all people.”
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Governments default all the time on their obligations. To the unemployed; to women; to the disabled; to the young; to the aged; to all in poverty; to those facing institutional racism; to the environment. Those are debts which can never be repaid and which we shouldn't tolerate.
Treasury, Reserve Bank of Australia and Money -
Dr Steven Hail (Part 1) @StevenHailAus

Dr. Steven Hail, at an introductory level, describes how the Treasury and the Reserve Bank of Australia operate and interact with one another and the private sector.
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The U.K. a government is NOT a household OR business, it has the power of the public purse. #MMT exposes the myths and reveals the policy space available for public purpose if we can win the votes to achieve our goals.
Pushing our politicians and policy makers to accept the reality of monetary operations isn’t easy, @StephanieKelton has made it a whole lot easier with her best selling book ‘The Deficit Myth’.
Buy and share a copy and let’s get the U.K. building a better economy.
#LearnMMT Image
The purpose of taxation is for the government provision itself by creating unemployment, driving demand for its currency.
Tax destroys currency returned to the issuer, making space for further spending, it doesn’t pay for anything.
Income & sales taxes are highly regressive.
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A) It’s interesting that Modern Monetary Theory (MMT) is not only the equivalent of the RAF squadrons with their international fighter pilots, the anti-aircraft gun batteries and the Home Guard in the current battle for British welfare but also the...…
B)..battle-ready Bomber Command. But *all* of the self-appointed Lefty social campaigners like @NeilClark66 studiously ignore it. Why might that be? It’s like they are all tolerated or even enabled by the Establishment to form an illusion that the oppressed have representatives..
C)..fighting for them - to constantly engender hope, failure, apathy and depression. We are awash with them. Stand up for yourselves! Form an effective guerrilla force. Learn MMT and fight back! #MMT #LearnMMT #JobGuarantee #GreenNewDeal #MythBusting #PeoplesEconomy
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Are you scared of the the #JobGuarantee?

Have you heard that it's hostile or antithetical to welfare or unions? Let me try to help.
1. The JG is a missing piece of the welfare safety net, an add-on, not a replacement. We
strengthen the welfare system by adding an "employment option". I have a whole book about it:…
2. If folks have no retirement income, we guarantee it (SocSec)
If kids need access to education, we guarantee it (pub educ)
If someone wants a job, training and UI aren't enough, We should guarantee that a basic job is avail.
(we need other guarantees too: housing, m4a)
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It's amazing people do not understand the U means Universal in #UBI.

It's amazing that people do not understand that a UBI is not revolutionary and represents the status quo.

It's amazing that people do not realize we ALREADY HAVE a Basic Income or a BI in Social Security
It's amazing that people would fight AGAINST a #JobGuarantee that eliminates the stranglehold employers have on benefits, mobility and setting the wage floor.
It's amazing that people do not realize.that a #UBI is a Trojan Horse that Libertarians are begging for to eliminate the social safety nets and all government programs.
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I seem to have time this summer to read another intriguing book by a #MMT scholar. So, what follows is some remarks on @ptcherneva's "The Case for a Job Guarantee".

1) From the top a very readable and eloquent presentation - I like the compactness of this book series.

2) It is difficult to find more timely subject for non-fiction book. @ptcherneva portrays nicely why everbody should be interested in #JobGuarantee proposal. Everyday examples in the introduction bring the unemployment question to right level of abstraction.

(To be continued...)
3) Why do we need #JobGuarantee? Because the current policy regime relying on the idea of natural unemployment (NAIRU) is theoretically flawed and morally questionable. The relation between inflation and employment is at best shady. The RIGHT level of unemployment is zero.

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It’s true. 🤥
There is a god.
Nuns aren’t violent.
There are no myths.
Psychiatry is rational.
Heaven is straight up.
Dreams can come true.
The Sun orbits the Earth.
Everybody envies Britain.
Homeopathy makes sense.
We must reduce the ‘deficit’.
The BBC is a public service.🤫
Depression is a chemical imbalance. 🤥
The Tooth Fairy leaves coins under pillows.
Gentlemen’s hands cannot cause infection.
There is no money except ‘Taxpayers’ money’.
The British have the best everything in the world.
Santa delivers to every home in the world in one night. 🤫
Leprechauns leave pots of gold at the ends of rainbows. 🤥
Our grandchildren will be paying back the ‘Debt’ forever.
We have to tax rich people, tooth fairies and leprechauns so that the government has money to spend or we’ll have to do without the basic necessities of life. 🤣
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Some remarks on @StephanieKelton great book "The Deficit Myth".

1) It is a fabulous popularization of #MMT (neo-chartalism).
2) The division between Currency-User and Currency-Issuer is explained in a very clear manner - will be THE eye-opener for many.

(To be continued...)
3) Key principle (of #MMT) is to redefine "balanced" in economic policy and move the focus from balancing government spending and taxes to "balancing" full employment and price stability.
4) Changing NAIRU oriented policies to Job Guarantee is the main tool.

(To be continued.)
5) Ditching the NAIRU (or any natural unemployment rate) concept is very important also theoretically. #MMT claims that there is not straightforward relation between unemployment and inflation, the latter being much more complex phenomenon than mainstream view assumes.

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A) Very good George @GeorgeMonbiot. Now please advise your readers that the position, power, wealth and privilege of the 950 years old ruling regime in the UK, via their land-grabbing, resources-thieving, genocidal and crusading mindset is based upon nothing more than the self...
B)..-interested application of a psychological concept - 'money'. They have used and continue to use a brilliant human invention, which could have long been used for good and to everyone's advantage, in a hideous, selfish and sociopathic way! Help pull the rug out from under...
C)..the feet of the establishment. Promote the insights of Modern Monetary Theory and expose the main manipulative lies/myths of 'the deficit', 'the national debt' and 'taxpayers' money' and encourage the people to take control of the means of the creation and utilisation of...
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A) You keep saying 'we' George @GeorgeMonbiot and assuming we're all complicit but the perpetrators are only a relatively small number of people who have a vile mindset going back 950 years. The Norman-Westminster/City of London Regime treated the people of these islands with...
B)..their land-thieving, resources hoarding, genocidal, crusading mindset and then exercised it around the globe. They have spent centuries establishing a complex structure to reinforce and maintain their power and privilege; including creating a sanitised fantasy of their...
C)..nature, entitlement and crimes. But we aren't all fooled. Some of us sensed since childhood, despite the conditioning and propaganda via the church, curriculum, media (including comics) and the @BBC that it was all a deadly farce. The last myth to be dispelled for me after...
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#MMT economists have been saying for decades that a #JobGuarantee is an automatic stabilizer. When the private sector is laying off millions of workers, the Federal government must step in as the employer of last resort.
You take people as they are, where they are, and you do on-the-job paid training at a living wage & benefits for anyone ready, willing, and able to work. During a #pandemic, one of the most important jobs under the #JobGuarantee system is to #StayHome.
There are also millions of jobs that can be done remotely and safely right now (e.g. emergency call centers, wellness checks, testing/tracing/isolating for #COVID19, weatherizing vacant buildings, installing rooftop solar on every school and gov building,..
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#MustRead new policy note by #GISPscholar Steven Hail (with co-author David Joy) "Federal Debt and Modern Money"…
#MMT #JobGuarantee Image
“The fallacies of the #neoclassical loanable funds view of interest rates and the related myths about #fiscal #sustainability and crowding out, would be seen to be nonsensical. #Neoliberal narratives would be undercut."
"We could get on with having a rational and well-informed discussion about issues such as the appropriate role and size of the #government within the #economy; the appropriate design of more effective automatic stabilisers like the #JobGuarantee; ..."
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A)*Sigh* You keep missing the point Pod. Are there no non-white politicians, commentators and journalists defending, or ignoring the arguments against, ‘austerity’? Osborne and the Eton-CambOx-Whitehall Crew have caused more distress, destruction and death to white people in...
B)..the UK than to others. What’s the point of criticising him because he’s white? The in-group creates and manipulates lots of out-groups to attack each other and leave them alone. You are behaving as programmed. But their wealth, privilege and power is all based upon a fraud...
C).., upon a psychological concept that they have used exclusively for their own benefit - money. You should focus on collating a massive in-group of people of all physical, psychological and social variables and take control of that concept and their excess wealth from them. ...
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A)Great article by @GeorgeMonbiot referring to the fab work of @guyshrubsole. The whole 954 years history of the Norman-Westminster/City of London Regime, beginning with William the Bastard and his thugs, has been the violent separation of the people of...…
B)..the UK from the land, and (leaving aside the global extension of this colonialist mindset for now) with the imposition of money and taxation, preventing them from meeting their normal, innate human needs. I wish that George and Guy would incorporate the core insight of...
C)..Modern Monetary Theory into their narratives: that this latent forceful separation is mainly maintained by the reification and manipulation of the concept of money and taxation, with the threat of incarceration. The whole English establishment edifice is built upon the...
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A little over four years ago I stumbled onto #MMT. It was (and still is) a lot to process, but fairly early on in my reading I was convinced of this-

When it comes to government spending, we are NOT asking the right questions.

I read stuff that made my brain hurt. And after not understanding a single word of it, I read it again. I fell asleep to videos explaining the differences in cost push and demand pull inflation. I learned what boring things like IOR, NAIRU, NAIBER stand for and mean.

I learned about the #JobGuarantee (which would be very beneficial now if it existed before this crisis).

I replaced my favorite hobby- listening to music on my commute- with listening to MMT related podcasts like @CheeseMacro, @MMTpodcast, @pocketchangeMMT, @moneyontheleft

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Many are not getting any relief from this "stimulus". Many will be forgotten. Many will lose their jobs. Many will lose their homes.

Privilege will allow many to play board games and enjoy long binges of streaming video.

That's what neoliberalism does.
#COVID19 1/x
Neoliberalism takes the best of us... Makes us slightly more comfortable than those left out and makes it easy to give into privileged stances.

Bernie Sanders platform talks about "I will fight for someone I don't know"
but only under Bernie's proposals are these programs and stimulus universal. Only under Sanders plans are these items rights. Good people. Bad people. Rich people. Poor people. People ..
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[thread] What If We Nationalized Payroll?

It was great to speak with @petersgoodman about a Nordic style rescue of the US economy. We ran a few thought experiments. Here are some thoughts that didn’t make it in the article…
1st the US can budget/pay for ANY amount that's appropriated for whatever reason.

Peter asked “what if the govt paid all US payroll for a time?” My answer: "it would amount to nationalizing the payroll & would make the govt the Employer of First Resort"
What would it cost? One back-of-envelope calculation: 157mil employed ppl in the US x median income of $63,700 (2019) = approx $10Trillion for a year of payroll subsidy. I'd add $500b for #JobGuarantee (our @LevyEcon estimate) to support the unemployed w/ stable, living income.
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@GowerInitiative @PhilArmstrong58 "For 3 years, the economy expanded until the US central bank intervened in 1937, repeating its mistake of only a few years before to increase interest rates and trigger another recession."
Remember the Nazis were popular because they ditched austerity..…
@GowerInitiative @PhilArmstrong58 💡👇🏻

Some reality at last.. "Tlaib proposes to pay for the cost of the program by calling on the Treasury to use its authority under federal law to issue two trillion dollar platinum coins. The move would not add to the debt." Indeed it would not..…
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Recession is sadly required to tackle the pandemic. As millions lose their jobs, we still need an army of ppl to disinfect, deliver essential meds, food, etc
The solidarity economy is key. But we have no preparedness/protocol how 2 do this w/o putting ppl in harm's way 1/n
This is why we cannot rely on emergency responses. Going forward, preparedness in all aspects of public life must guide policy. So that we have the institutions and protocols for dealing with shortages in both equipment and human resources. 2/
But imagine how much better the recovery would be if we had a #JobGuarantee in place. Imagine the peace of mind it will afford the most vulnerable famies who have no idea how long they'll be out of work. Imagine the economic boost it will provide when living income is assured 3/
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